$68 million industrial building sale closes in California

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Colliers International recently brokered the sale of a 608,220-square-foot industrial building in Santa Fe Springs, Calif. The transaction was valued at $68 million. The distribution facility, located at 9400 Santa Fe Springs Road, is occupied by Liz Claiborne, and serves as the retailer's West Coast distribution hub. Clyde Stauff, senior vice president of Colliers International's Orange County office, represented the buyer, Birtcher Development & Investments and Cornerstone Real Estate Advisers LLC, in the transaction. The original building was developed in 1980 and served as the headquarters for Fedco, a food and product wholesale company. Ten years later, the building was redeveloped to nearly double its original size. After the dissolution of the food wholesaler, in 2000, Liz Claiborne leased the property. Liz Claiborne Inc. distributes popular brands, such as Juicy Couture, Bora Bora, Ellen Tracy, Laundry by Shelli Segal, and Lucky Brand Dungarees among other top retail names...