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Colliers negotiates nearly $10 million sale of retail center in Santa Clarita

Private investor buys property at 6% cap rate, occupied by 99 Cents Only and Harbor Freight Tools
SANTA CLARITA, CA – Feb. 15, 2018 –

Colliers International has negotiated the sale of a 45,429-square-foot retail center in Santa Clarita, Calif. to a private investor. The transaction was valued at $9,800,000.

Located at 23300-23314 Valencia Blvd., the property is situated in the heart of Santa Clarita's business-friendly retail hub and sold at a 6% cap rate, according to Colliers Executive Vice President David Maling who, along with Colliers Executive Vice President Chris Maling, represented the seller, DP Santa Clarita LLC, in the transaction.

Built in 1973 and renovated in 2012, the 3.54-acre site is 100% leased to 99 Cents Only and Harbor Freight Tools.  David Maling added that Santa Clarita's low property taxes, zero utilities tax and other business benefits make it an attractive location for operators and investors alike.

About Colliers International Group
Colliers International Group Inc. (NASDAQ: CIGI) (TSX: CIGI) is an industry-leading real estate services company with a global brand operating in 69 countries and a workforce of more than 12,000 skilled professionals serving clients in the world’s most important markets. Colliers is the fastest-growing publicly listed global real estate services company, with 2017 corporate revenues of $2.3 billion ($2.7 billion including affiliates). With an enterprising culture and significant employee ownership and control, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide. Services include strategic advice and execution for property sales, leasing and finance; global corporate solutions; property, facility and project management; workplace solutions; appraisal, valuation and tax consulting; customized research; and thought leadership consulting.

Colliers professionals think differently, share great ideas and offer thoughtful and innovative advice that help clients accelerate their success. Colliers has been ranked among the top 100 global outsourcing firms by the International Association of Outsourcing Professionals for 13 consecutive years, more than any other real estate services firm. Colliers has also been ranked the number one property manager in the world by Commercial Property Executive for two years in a row.

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