Lee & Associates Completes $4.18 Million Industrial Sale for ProPlas Technologies
Torrance, CA – June 6, 2013 – (RealEstateRama) — Lee & Associates, one of the largest broker-owned commercial real estate firms in the country, has closed a $4.18 million industrial sale in Garden Grove, Calif.
Senior Associate Brandon Carrillo, President Greg Gill and Associate Dylan Espley of Lee’s Long Beach office represented the buyer, ProPlas Technologies, a plastic injection molding and contract manufacturing company, which is relocating from Gardena. The seller, Serella Revocable Trust, was represented by Mike Bouma and Paul Caputo of Voit.
“It’s been a 5-year project to locate the right property at the right price since ProPlas Technologies has precision equipment that required heavy power, high ceilings and wide column spacing,” said Carrillo. “ProPlas saw the value in keeping its business local and opted not to outsource the work away from California.”
Scott Taylor, President of ProPlas stated, “We have chosen to remain committed to the growing West Coast medical, dental and precision molding markets. Our new facility will give us the opportunity to upgrade many of our capabilities and facilities while being even more accessible to our core customer base.”
According to Carrillo, ProPlas originally had a Compton property in escrow prior to purchasing 14321 Corporate Drive. Despite working with the Los Angeles County Economic Development Corporation (LAEDC) and the City Manager to adhere to the strict parking and zoning requirements of the City of Compton, ProPlas was unable to move forward with the Compton property, and found a more suitable property in Garden Grove, where it will bring 65+ new jobs to the area.
Built in 1987, the 40,274-square-foot property is a high image freestanding building with 25’ clear height, over 2,000 amps of power, sprinklers and a fenced yard area. ProPlas Technologies plans a major renovation of the property to meet is growing clientele and their advanced needs.
About Lee & Associates
Celebrating more than 34 years of leadership excellence in commercial real estate, Lee & Associates is the largest broker-owned firm in the nation, with 48 locations across the nation including Arizona, California, Georgia, Idaho, Indiana, Illinois, Kansas, Maryland, Michigan, Missouri, Nevada, New Jersey, Texas and Wisconsin. With a roster of nearly 750 expert brokers, Lee & Associates provides a wide range of specialized commercial real estate services. Additional information is available at www.lee-associates.com.