Los Angeles, CA – March 11, 2011 – (RealEstateRama) — Colliers International, the second largest global real estate services organization, has completed four retail sales totaling $11,250,000 million in greater Los Angeles area. Jereme Snyder, senior vice president in Colliers International’s Irvine office, closed all four sales.
- The sale of a 25,825-square-foot retail building located at 18527 Yorba Linda Blvd. in Yorba Linda, Calif. to a private Orange County-based investor. The transaction is valued at $5,250,000. The property has been leased to Stater Bros. since 1975 and recently executed a new 10-year lease extension. The building is situated on approximately 2.2 acres of land and is the anchor to the Lakeview Town Center, an approximately 100,000-square-foot community retail center located at the northeast corner of Lakeview Avenue and Yorba Linda Boulevard. Tenants of Lakeview Town Center include McDonald’s, Wells Fargo, The Coffee Bean & Tea Leaf, Game Stop, Panda Express, AT&T, Tarbell Realtors and B&B Pharmacy. Snyder represented the seller, Pacific Coast Roofers Pension Trust.
- The sale of a 2,360-square-foot retail building located at 308 Abbot Street, Salinas, Calif. to a private investor. The transaction is valued at $660,000. This single tenant 7 eleven had a corporate guaranteed NNN lease, and is located at the Southwest corner of Abbot Street and Maple Street. Snyder represented both the seller, Evercore Trust Company and the buyer.
- The sale of a 42,289-square-foot retail building located at 9155 Jurupa Road Riverside, Calif. The transaction is valued at $3,000,000. Snyder and Robert Hoyt, senior vice president based in Collier International’s Irvine office, represented the seller, and the private local buyer represented themselves. This property is the 13th single tenant Stater Bros Market Snyder and Hoyt have sold for Vornado since 2009.
- The sale of a 3,198-square-foot retail building located at 8660 W. Warm Springs Road Las Vegas, Nevada to a Calif.-based private investor. The transaction is valued at $2.340.000. Built in 2009, the property is a single tenant, free-standing brand new Carl’s Jr, with a 20-year NNN lease with 15% increases every 5 years. It is located at the corner of Durango, just off the Hwy 215 Beltway connecting all of Las Vegas and is highly visible due to its surroundings which include the Desert Marketplace (Regional Power Center) and Rhodes Ranch Town Centre (Grocery-Anchored Center), adjacent to all the major retailers including, TJ Maxx, Petco, Big 5, Wells Fargo, Bank of America, Subway, Taco Bell, CVS, and Walgreens. The Seller, a Nevada-based developer, Dapper Development, was represented by Snyder and Eric Carlton, associate in Colliers International’s Irvine office. The buyer represented themselves.
Snyder is a co-founder of Colliers NNN Group, a specialized national investment team within Colliers International with more than $1 billion dollars in completed transactions. In 2010 the Colliers NNN Group sold more than 75 net-leased properties across the country, totaling more than $300 million in transaction volume. The group’s core focus is the acquisition and disposition of net lease investments throughout the United States.
About Colliers International
Colliers International is a global leader in real estate services with more than 15,000 professionals operating out of 480 offices in 61 countries. As a subsidiary of FirstService Corporation (NASDAQ: FSRV; TSX: FSV and FSV.PR.U), Colliers offers the stability of a strong financial partner and significant local ownership providing clients with accountability and enterprising real estate solutions. Colliers provides a full range of services to real estate users, owners and investors worldwide including: global corporate solutions; sales and lease brokerage; property and asset management; project management; hotel investment sales and consulting; property valuation and appraisal services; mortgage banking and insightful research. The Lipsey Company and National Real Estate Investor magazine ranked Colliers International as the world’s number two commercial real estate brand.
Since 1908, Colliers has stood at the forefront of the Los Angeles real estate industry. Today, Colliers operates seven offices throughout Greater Los Angeles, including Downtown Los Angeles, Orange County, Inland Empire, South Bay, San Fernando Valley, Santa Clarita and Commerce. Follow us at www.twitter.com/colliersgla.
Angela S. Hwang
Regional Marketing Coordinator | Greater Los Angeles
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