4/1/2008

Colliers represents Raleigh Enterprises in two industrial deals worth $17M

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5945 Malt Ave.

In two separate transactions, Santa Monica-based Raleigh Enterprises acquired two industrial properties totaling 195,500 square feet in Commerce and Sylmar for just under $17.1 million.

In Commerce, the firm purchased a 112,000 square foot industrial property from the development firm of Chalmers Equity Group for $9.2 million.

The building is located at 5945 Malt Ave. CEG developed the building in 2005 for Raleigh's File Keepers, LLC division and was represented in the transaction by its CFO, James Devling.

In Sylmar, Raleigh acquired an 83,500 square foot industrial property from Huntington Park-based Pacific Charter Schools for $7.85 million.

PCS was represented by Colliers International's Brenton Weirick in the transaction while Raleigh was represented in both deals by Chick Littel of the firm's Torrance office.

The building is located at 12800 Foothill Blvd. and the site was originally meant to be the home of a new charter school. During construction, zoning issues prohibited the property from being converted from an industrial warehouse, which lead PCS to dispose of the asset.

Address: 5945 Malt Ave., Commerce, Calif.
- 12800 Foothill Blvd., Sylmar, Calif.

Size: 195,500 square feet

Built: 2005

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Filed Under: Industrial

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