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2023 Top Broker Awards
California
Michael Kendall, Gian Bruno and Kenny Patricia
Sales Total
$1.3 billion
Closed 26 transactions totaling $1.3 billion
Sale of Fontana CA building set record at $500 per square foot
Michael Kendall, Western Region Vice Chair of Investment Services for Colliers, leads a team of 10 real estate professionals, all of whom operate out of the company’s Irvine, CA office. The team specializes in industrial investment sales throughout the western United States.
In 2022, Kendall’s team closed 26 transactions at a total value of $1.3 billion. Notable deals included The 760,000-square-foot building at 13000 Mission Blvd. in Eastvale, CA, which sold for $220 million. The team also oversaw the sale of the six-building, 730,771-square-foot Sunpoint West in North Las Vegas, NV for $143 million and the sale of 13508 Marlay Ave. in Fontana, CA.
The $58-million sales price of the Fontana building set a record as the first industrial building to sell for $500 per square foot. The transaction also set a record for the lowest cap rate in the market for a deal with five or more years of lease term remaining.