Storm is a 75-year-old privately owned firm that is one of the oldest continuously operated companies in Southern California. It recently sold $54 million worth of its real estate holdings, primarily in the Torrance area, to TA Associates Realty of Boston. The properties included a 500,000-square-foot portfolio of industrial buildings that sold for $52 million and a 20,000-square-foot industrial building in the 1,117-acre Valencia Industrial Center in Valencia.
Tom Grzywacz, CEO of parent company Storm Industries, says that Simard's mission in his new post will be to diversify, strengthen and expand the company's real estate holdings. Storm is completing the second phase of Storm Business Park, a 40-acre project in Torrance that will feature 10 new industrial buildings.
Before joining Storm four years ago, Simard served as project director of Midwest operations for Velocitel Inc. and as a senior acquisition and zoning attorney for the Everest Group LLC. Storm, which was established in 1932, has evolved from a basic manufacturing enterprise into a family of business units that include Storm Properties Inc., Storm Western Development Inc., Storm Manufacturing Group and Industrial Parts Depot.
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