Certified International – Sale of Existing 70,000 Square Foot Facility
Sale of Existing 70,000 Square Foot Facility, Site Selection and Purchase of a 207,000 Square Foot Distribution Facility
- After a rapid expansion of their business, Certified International (an importer of gift wares and accessories) needed a larger facility with dozens of dock high loading positions in order to distribute their goods across the country.
- The building had to be modern, with ESFR sprinkler capacity and the purchase of the new building required the sale of their existing building.
- We successfully identified an “off-market” building in Valencia, CA that was owned by Investment Development Services (IDS).
- We first negotiated the purchase of the new facility and engineered a reverse 1031 exchange.
- We then successfully sold their 70,000 square foot facility.
- Lastly, we successfully leased 50,000 square feet of excess space within Certified’s new facility, which created a positive income stream that helped to offset the new debt service load.