Liberty Property Trust Purchases Trio of Industrial Properties
Colliers International Represents Trust in 3 Industrial Transactions Totaling Over 667,000 Square Feet
Colliers International recently negotiated three California industrial real estate transactions on behalf of Liberty Property Trust totaling over 667,000 square feet, the brokerage company has reported.
“Liberty Property Trust is an active player in the region’s highly competitive industrial investment market,” said Colliers Vice President Chuck Littell, “and we are very pleased to have represented them in these transactions.”
In the most recent transaction, the trust purchased an 89,710-square-foot warehouse and manufacturing building at 12681-12691 Pala Drive, in Garden Grove for $8.9 million. The building is occupied by well-known clothing manufacturer American Apparel.
Littell, who is based in the brokerage firm’s El Segundo office, and Senior Vice President Wayne Lambert, who is based in Irvine, represented Liberty in the transaction. Seller LBA Realty represented itself.
In the first of the two prior transactions, Colliers handled the lease of a 522,722-square-foot logistics building owned by the trust in Moreno Valley to Federal-Mogul Corp., a global supplier of automotive parts. The building is located at 22750 Cactus Ave.
Colliers’ Mark Zorn and Tag Siglar of the firm’s Ontario office, along with Littell, represented Liberty in the transaction. Joey Sugar of CBRE represented Federal-Mogul.
In the third transaction, Colliers arranged the sale of a 59,730-square-foot Rancho Cucamonga industrial building to a China-based manufacturer and distributor of electronic cigarettes. Cabro Flavor USA purchased the 8720 Rochester Ave. building for $5.3 million. Littell and Zorn represented Liberty in the sale.