Los Angeles, Calif. August 8, 2022 – Colliers today announced the sale of a 159,780 square-foot multi-tenant industrial building located at 11077 Rush Street, South El Monte, CA 91733, in the heart of the San Gabriel Valley. The property is 86% leased to six tenants, centrally positioned in a supply-constrained, high-demand area, providing strategic access to Southern California’s major transportation corridors and critical distribution and logistics hubs.
The seller, an investment venture led by San Juan Capistrano-based Birtcher Anderson & Davis, engaged the Colliers team for both the lease-up and sale of the property. “The Colliers team was instrumental in enabling us to complete the re-positioning, lease-up, and exit from this property in a shorter timeframe and at a higher profit than even our most optimistic business plan scenario,” said Bob Anderson, the company’s Co-Chairman.
Richard Schwartz, Joey Reaume, and Kelly Johnson teamed up with fellow Colliers’ industrial experts Chris Sheehan and Connor Reeves in brokering a $47,300,000 deal, wherein the group represented both parties. The buyer, EverWest Real Estate Investors, purchased the property from Birtcher, Anderson & Davis.
Recently renovated with extensive upgrades in 2021, the 11077 Rush Street building boasts individually metered distributed power, a large secure yard, five dock-high doors, nine dock positions, a shared mobile dock, private offices, and trash enclosures, landscaping, and a security gate with 24/7 access.
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Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 62 countries, our 17,000 enterprising professionals work collaboratively to provide expert real estate and investment advice to clients. For more than 27 years, our experienced leadership with significant inside ownership has delivered compound annual investment returns of 20% for shareholders. With annual revenues of $4.3 billion and $77 billion of assets under management, Colliers maximizes the potential of property and real assets to accelerate the success of our clients, our investors and our people. Learn more at corporate.colliers.com, Twitter @Colliers, or LinkedIn.