Cabot Properties Purchases Leased-Investment Property in Simi Valley
Boston-based Investment Firm Partners with Colliers to Purchase Nearly 100,000 SF Building
Cabot Properties, a private equity real estate investment firm, has acquired a 96,850-square-foot industrial building in Simi Valley as a leased-investment property in a transaction negotiated by Colliers International.
Colliers Senior Executive Vice President John DeGrinis, SIOR; Senior Vice President Patrick DuRoss, SIOR; and Vice President Jeff Abraham, SIOR, all of the firm’s Encino office, represented Cabot in the transaction. The seller was Pacific Equities of Los Angeles.
Located at 3850 Royal Ave., the building is 50% leased to Bellami Hair LLC, a worldwide shipper and supplier of hair products and beauty supplies used by hair salons, spas and other beauty-related companies around the world.
“The 47,740 square-foot vacant portion of the building is where Cabot has a chance to really add value,” said DuRoss. “The space has a 17,000-square-foot office mezzanine that presents challenges for most users in today’s market. Cabot is planning on contributing significant capital towards demolishing the mezzanine, adding functional loading and upgrading the image of the building to accommodate the bulk of today’s tenant demand.”
Stated DeGrinis, “Cabot has long been an active investor in Southern California properties and this particular leased-property fit its investment profile perfectly.
“As one of the leading developers and operators of industrial properties in the United Kingdom, as well as the U.S., Cabot has stepped up its interest in properties like this and we were fortunate to uncover this off-market opportunity for them,” DeGrinis added.