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Ventura County

Colliers International has completed the sale of 208,493-square-foot industrial property at 2900-2950 Madera Rd. in Simi Valley, CA, to Kingsbridge International Inc., an importer/wholesaler of housewares and giftwares. The transaction is valued at $11.42 million. The two-building property is comprised of a 135,683-square-foot distribution building and a 72,810-square-foot office building. Kingsbridge will be relocating to this location from their Chatsworth, CA headquarters, and will occupy the distribution building. “Kingsbridge was attracted to this property because the quality of the real estate and the price point were incredibly attractive. Our client will operate its business from the 135,683-square-foot distribution building and will lease the office building back to the seller, Bank of America,” says John DeGrinis, executive vice president, who represented the buyer in the transaction, along with Patrick DuRoss, senior associate, and Jeff Abraham, associate, all based in Colliers International’s Encino, CA, office. Abraham adds that “Once Kingsbridge saw that the functionality, image, size and location of the distribution building were all exceptional for its use, they became very excited about this opportunity as an investment in Kingsbridge’s operations, as well as a great real estate investment opportunity.” Bank of America was represented by Cushman & Wakefield.

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