Colliers Negotiates Pair of Transactions Valued at $12 Million
Naturally Aged Flooring Expands to Larger Facility in Moorpark
In order to meet the expansion needs of national flooring manufacturer and distributor Naturally Aged Flooring, Colliers International has arranged the acquisition of a larger industrial facility in Moorpark and the sale of the company’s current smaller property in Simi Valley in a pair of transactions valued together at $11.9 million.
It was the second time in two years that the same Colliers team has sold a smaller facility and purchased a larger building for the expansion-minded Southern California-based national flooring manufacturer.
The Colliers team is comprised of senior Executive Vice President John DeGrinis, SIOR, Vice President Patrick DuRoss, SIOR, and Associate Vice President Jeff Abraham.
In this latest pair of transactions, Colliers negotiated the sale of the company’s existing 38,675-square-foot building at 2175 Agate Street in Simi Valley to a manufacturer, T. Flexo Corp. for $5.15 million. At the same time, they negotiated the acquisition of a 54,052-square-foot state-of-the art manufacturing and distribution facility at 5155 Goldman Ave. in the Ventura County community of Moorpark. The building also features 22-foot clear-height ceilings, parking for 116 automobiles, a fenced yard and dock high loading.
“This move to a larger manufacturing and distribution facility will allow the company to operate more efficiently under one roof, accommodating its exceptional growth as one of the nation’s premier makers and distributors of high quality flooring,” said DuRoss. “”Ventura County has lagged surrounding regions in job growth, in part due to a lack of supply of suitable buildings. We were pleased to find a great facility for them that should allow them to grow here in Ventura County for years to come.”
Prior to this latest acquisition Naturally Aged Flooring had again outgrew its facilities and called on the Colliers team to locate short-term warehouse space in order to meet storage and distribution needs caused by its phenomenal growth trajectory.
For the past 30 years, the family-owned company has grown to where it currently serves more than 3,000 retailers across the United States and Canada. In addition to California, the company has warehouse and distribution facilities strategically located in Missouri, Texas, Pennsylvania, Florida and British Columbia, Canada.