CORFAC News

SANTA FE SPRINGS, Calif., (November 30, 2009) –Voit Real Estate Services’ Commercial Brokerage division, a member of CORFAC International, has assisted The Carson Companies with the sale of a 65,569 square-foot industrial building in Santa Fe Springs, Calif. The property was sold for $5.9 million to an owner/user.  This sale was the highest price per-square-foot for a property totaling more than 50,000 square feet in 2009 in all of the Mid-Cities industrial market.

“By recognizing the re-emergence of owner/users in the marketplace and the limited leasing activity, Voit Real Estate Services was able to demonstrate the benefits to the owner to consider marketing the property for sale, despite previously being offered for lease only,” explained Cameron Driscoll, senior vice president of Voit Real Estate Services’ Anaheim Metro office.  “Two offers were made on the property as soon as it was brought to the market and Voit negotiated three options to extend the escrow to give the seller additional time to locate an exchange property.”The buyer, US Motor Works, is an owner/user that is expanding from its previous location at 16401 Berwyn Road in Cerritos, Calif.  US Motor Works, a company that manufactures automotive parts, intends to use the building as its new headquarters.The 65,569 square-foot building is located at 14722 Anson Avenue in Santa Fe Springs, Calif. Driscoll, along with Luke McDaniel also of Voit Real Estate Services’ Anaheim Metro office, represented the seller, The Carson Companies, a real estate owner and developer.  Chris Sheehan of Colliers International represented the buyer, US Motor Works. Voit Real Estate Services is one of the largest privately owned, debt-free commercial real estate services firms serving both institutional and private clients in the Western United States.  With offices in California, Nevada and Arizona, Voit Real Estates Services can scale asset management, property management, market research, property leasing and sales, financial underwriting, construction and development services to its clients’ individual needs in any market. The firm’s nearly four decades of real estate ownership experience, combined with its asset management platform, provides clients with strategic alternatives, which allow owners of distressed real estate assets to maximize proceeds while minimizing risk. Voit Real Estate Services was founded in 1971 by Robert D. Voit, who continues to lead the firm. Known for its personal, nimble and responsive service culture, Voit Real Estate Services has developed, acquired or managed more than 40 million square feet of commercial real estate and transacted sales and leases valued in excess of $25 billion. Additional company information is available at www.voitco.com.