FOR IMMEDIATE RELEASE
Jan. 7, 2013
Contact:
Zoe Solsby
(949) 809-2400
Art Barrett
(714) 602-6021
SARES•REGIS Group Develops And Sells
Largest Mid-Cities Building In Seven Years
SARES•REGIS Group completed the sale of its newly developed 305,361-square-foot
building in Santa Fe Springs near Los Angeles. The buyer, Industrial Income Trust,
agreed to purchase the building during construction.
It is the first large warehouse and distribution building completed in seven years in the
Mid Counties industrial market that straddles Los Angeles and Orange County, said
Larry Lukanish, senior vice president at the Irvine, Calif., development company.
Clyde Stauff, senior executive vice president of Colliers International, represented
SARES•REGIS Group and the buyer.
The building at 9306 Sorenson Ave. is on 13.3 acres and built to LEED standards with 32
feet of clear height, ESFR Sprinklers, a 145-foot concrete truck court and 55 truck doors.
According to Stauff, the vacancy rate for large buildings in the Mid Counties market is
less than 4 percent and has declined steadily from nearly 7 percent at the peak of the
recession. About a dozen communities make up the Mid Counties market where
industrial facilities are in demand because of the access to the region’s seaports, rail
network and key freeways.
Since 2002, SARES•REGIS Group has developed 11 industrial buildings totaling
830,000 square feet on 39 acres in Santa Fe Springs.
As a leading western United States real estate developer and manager, SARES•REGIS
Group along with its partners and investor clients own commercial and residential assets
valued at more than $4 billion. This portfolio consists of 15 million square feet of
commercial space and more than 14,000 apartments.
As it enters its 20th year, SARES•REGIS Group is under way on residential and
commercial projects valued at more than $3.3 billion throughout California, since its
inception, SARES•REGIS Group has acquired or developed 50 million square feet of
commercial properties and 20,000 homes and apartments.
Colliers International is the third largest commercial real estate services company in the
world with 12,500 professionals operating out of more than 500 offices in 61 countries.
A subsidiary of FirstService Corporation (NASDAQ: FSRV;TSX: FSV and FSV.PR.U),
the firm focuses on accelerating success for its clients by seamlessly providing a full
range of services to real estate users, owners and investors worldwide, including global
corporate solutions, brokerage, property and asset management, hotel investment sales
and consulting, valuation, consulting and appraisal services, mortgage and research.
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