CORFAC News

CONTACT: 
Art Ansoorian
805-653-1648

Long Beach, CA (September 20, 2013)– Underlining that in a tightening commercial real estate market opportunities still exist for “the right buyer”, The Klabin Company/CORFAC International announces that 2H Construction has paid $3.3 million to acquire a vacant four-story office building in Long Beach’s Signal Hill area with plans to fully refurbish the property as a build-to suit.

Signal Hill-based 2H Construction purchased the 24,278 square foot building, located at 2165 E. Spring St., as part of a 1031 Exchange.  The glass and concrete structure was built in 1985 and features one level of subterranean parking.

Matt Stringfellow and Courtney Bell, vice presidents in Klabin/CORFAC’s Torrance office, represented 2H Construction in the transaction.  Stringfellow and Bell, along with Kimball Wassick of Cushman & Wakefield, co-represented  the sellers, the Lawrence Shields Trust.

“This buyer is a capable and experienced owner/investor from the area who understands the Long Beach/Signal Hill market and knows how to refurbish and re-position a building of this type,” Stringfellow said.

In business since 1997, 2H Construction specializes in new construction, commercial tenant improvements, general engineering, public works projects, clean rooms and labs, schools, medical environments, industrial and warehouse facilities, seismic retrofits, and fast track design/build projects.

About The Klabin Company/CORFAC International
Now in its sixth decade, The Klabin Company/CORFAC International is ranked among the top 20 commercial real estate companies based in Los Angeles.  The firm has offices in Los Angeles and Torrance, and is affiliated with CORFAC International.  For more information go to www.klabin.com.

About CORFAC International
CORFAC International (Corporate Facility Advisors) is comprised of privately held entrepreneurial firms with expertise in office, industrial and retail real estate leasing and investment sales, multifamily property acquisitions and dispositions, property management and corporate services.  In association with FIABCI (the International Real Estate Federation) and global affiliates, CORFAC International offers commercial real estate services with market reach in 65 countries worldwide.  In recent years, CORFAC firms have averaged over 8500 completed transactions annually totaling more than 600 million square feet worth in excess of $52 billion for their customers.  For more information on the CORFAC network, contact 703-532-6160 or visit www.corfac.com.