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CYPRESS, CA-The owner of a 76,000-sf manufacturing and headquarters facility that Cleveland Golf has occupied for the past 10 years has sold the facility for $9.2 million after the golf club maker vacated the building as part of an expansion. Laro Properties LP sold the property at 5630 Cerritos Ave. to Howard Building LLC in a transaction brokered by Kevin Turner of the Irvine office of Colliers International.

Turner, who represented Laro Properties, tells GlobeSt.com that the buyer is an owner-user that will convert the industrial facility into a medical diagnostic laboratory. He says the property, which drew the interest of a number of prospective owner-users and investors, has strong potential for the new buyer in light of its location “in a strong market in close proximity to the 405, 605 and 22 freeways.” The buyer of the 5630 Cerritos Ave. building was represented by Vince Kagawan of Pinnacle Real Estate.

Cleveland Golf moved from the building, which was constructed in the 1980s, earlier this year as part of an expansion in which it relocated to a 142,892-sf build-to-suit facility at 5601 Skylab Rd. in Huntington Beach. GlobeSt.com reported in April that Cleveland Golf moves into the building at 5601 Skylab Rd. after Centra Realty Corp. of Irvine developed it for the golf club company.

The golf equipment manufacturer needed the new building because its yearly sales have more than quadrupled since 1997, placing Cleveland in the top five of golf club manufacturers, according to company officials. Cleveland Golf formerly was owned by Group Rossignol, which agreed earlier this year to be acquired by Huntington Beach-based Quiksilver, a sportswear company that is based about a mile from the Cleveland Golf facility.

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