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Mid-Counties Industrial Sale Indicates Owner-Occupier Trend
Illustrating a growing trend toward owner-occupiers, Colliers closed the sale of a 124,480-square-foot industrial asset in the Mid-Counties submarket, suitable for redevelopment. The 16930 Valley View Ave. property in La Mirada was purchased by LD Valley View Holdings, LLC from an undisclosed seller for $32,425,000.
Colliers represented all involved parties, with vice chair Tony Phu representing the buyer. The team of vice chair Michael Kendall, SVP Gian Bruno, VP Kenny Patricia and associate Kylie Jones represented the seller. Vice chair Chris Sheehan, EVP Mike Foley, senior EVP Jeff Smart, associate Liz Capati and VP Senna De La Cruz provided local market advisory.
“This sale is a strong indication of growing demand for occupiers to acquire quality assets for long-term tenancy, and we are now looking at opportunities for this client to invest similarly on the East Coast,” said Phu. “With the buyer’s assiduous partnership, we achieved a swift and successful five-day all-cash closing from the opening of escrow by satisfying all due diligence matters during contract negotiations.”
- ◦Sale/Acquisition
