Contact:
Jen Olewinski/James MacGregor
Brower, Miller & Cole
(949) 509-6551
jolewinski@browermillercole.com
VOIT REAL ESTATE SERVICES HANDLES SALE WARRANTING HIGHEST PRICE PER SQUARE-FOOT IN NORTH ORANGE COUNTY
ANAHEIM, Calif., (November 12, 2009) –Voit Real Estate Services’ Commercial Brokerage division, a member of CORFAC International, has assisted Caldwell Real Estate Holdings, LLC with the sale of a 27,796 square-foot industrial building in Anaheim, Calif. for $3.8 million. This disposition was the highest price per-square-foot for a property sale in North Orange County for more than 20,000 square feet within the past six months.
“Voit Real Estate Services assisted the seller in preserving the equity from the asset, in order to redeploy the money into a more diverse investment,” explained Mike Vernick, Vice President of Voit Real Estate Services’ Brokerage division’s Anaheim Metro office. “Concurrently, Voit is identifying suitable lease opportunities for the client, which will dramatically reduce the company’s occupancy costs.”
“The buyer, U.S. Union Tool, Inc., a manufacturing company, purchased the property as a 1031-Exchange, deferring tax payments while satisfying its business needs,” added Vernick.
The 27,796 square-foot building is located at 1260 N. Fee Ana Street in Anaheim, Calif. The buyer is relocating its corporate headquarters from its current location in Buena Park, Calif. to this new building in Anaheim, where it plans to occupy the building for its tool manufacturing and distribution operation within the next four months.
Vernick, along with Mike Bouma also of Voit Real Estate Services’ Anaheim Metro office, represented the seller, Caldwell Real Estate Holdings, LLC, a communication technology company. Tim Cronin of Lee & Associates represented the buyer, U.S. Union Tool, Inc.
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.
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