CORFAC News

CONTACT:  Art Ansoorian (805) 653-1648
FOR:  The Klabin Company/CORFAC International

TORRANCE, CA – COSTCO, the major retailer whose mission is to provide “quality goods and services to members at the lowest possible prices,” has acquired a rare 23-acre parcel of land in Torrance, CA, with plans to build an expanded area store, announces The Klabin Company/CORFAC International.

Todd Taugner, SIOR, a principal of The Klabin Company in Torrance, reports that The Rockefeller Group has sold the property at 2740 Lomita Blvd., between Crenshaw and Hawthorne Blvds.

Taugner, David Prior, SIOR, a principal of The Klabin Co., and Frank Schulz, SIOR, vice president of the firm, represented The Rockefeller Group. Steve McArthur, vice president of Northwest Atlantic Partners, Inc. of Irvine, CA, represented COSTCO. Purchase price was undisclosed.

Taugner said COSTCO plans to break ground during the first quarter of 2015 on a 164,000 square foot store, with completion slated for the fourth quarter of the year.
 
“It’s rare to find a parcel of land this size in Torrance. COSTCO acquired the site in a strategic move since the property is adjacent to their existing store immediately south, one of the few facilities for which COSTCO is a tenant. The newly-acquired property fits the company’s facility ownership goals,” Taugner said.

About The Klabin Company/CORFAC International
Now in its sixth decade, The Klabin Company/CORFAC International is ranked among the top 25 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. Founded in 1989, CORFAC International is celebrating its 25th anniversary in 2014. In association with FIABCI (the International Real Estate Federation) and global affiliates, CORFAC International offers commercial real estate services with market reach in 60 countries worldwide. Last year CORFAC firms completed more than 10,000 lease and sales transactions totaling approximately 368 million square feet of space valued in excess of $7.4 billion. For more information on the CORFAC network, contact (703) 532-6160 or visit www.corfac.com.
   
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