Colliers Seeley International

Xebec began work on a $17-million, 240,000-square-foot industrial project at the former Ingersoll-Dresser property on Bickett Street in Vernon and Huntington Park. The development, due to be finished in early 2002, will consist of three buildings that will be offered for sale, said Scott Heaton of Colliers Seeley International, which is marketing the project on behalf of Xebec.

Toronto-based FirstService Corp.'s Colliers International subsidiary has acquired an 82% interest in Los Angeles-based Colliers Seeley International Inc. for an undisclosed amount. In a news release Tuesday, FirstService said senior management, active brokers and employees retained the remaining equity stake in Colliers Seeley. Colliers Seeley advises on more than $3 billion in commercial real estate transactions annually from a network of 138 brokers in 12 offices in Southern California.

Colliers Seeley International has formed a corporate real estate finance group to meet what the company describes as a growing demand from property owners for sophisticated financial services. Based in downtown Los Angeles, the group will provide advisory and analytical financial services designed to help clients "achieve better returns on investments, assets and equity," said Cody Plott, Colliers Seeley's president and chief executive. The new group is headed by W. Bret Hardy and Mark K.

Xebec began work on a $17-million, 240,000-square-foot industrial project at the former Ingersoll-Dresser property on Bickett Street in Vernon and Huntington Park. The development, due to be finished in early 2002, will consist of three buildings that will be offered for sale, said Scott Heaton of Colliers Seeley International, which is marketing the project on behalf of Xebec.

Toronto-based FirstService Corp.'s Colliers International subsidiary has acquired an 82% interest in Los Angeles-based Colliers Seeley International Inc. for an undisclosed amount. In a news release Tuesday, FirstService said senior management, active brokers and employees retained the remaining equity stake in Colliers Seeley. Colliers Seeley advises on more than $3 billion in commercial real estate transactions annually from a network of 138 brokers in 12 offices in Southern California.

* Global One Communications signed a 10-year, $9.3-million lease for 27,742 square feet of office space at 3810 Wilshire Blvd. in Los Angeles. John Anthony of Charles Dunn Co. represented the landlord, Fowler Flanagan Technology Partners. Eric Lastition of Colliers Seeley International represented the tenant.

Colliers Seeley International Inc. plans to acquire other firms, add 20 brokers by the end of the year and invest in technology, education and training, the company said Monday. The privately held Los Angeles-based company has identified Riverside, Corona and Temecula as potential new areas for expansion of its operations, said Cody Plott, president and chief executive. The expansion plan "cuts against a trend toward downsizing and slow growth" at commercial real estate brokerages, Plott said.

Clifford M. Reston was installed as the new president of the Los Angeles-based American Industrial Real Estate Assn. at the group's annual meeting last month in Los Angeles. Reston, president of Encino-based Real Property Advisors, succeeds Clint McMorris of Colliers Seeley International. Reston said he hopes to expand the reach of certain AIR programs such as its distribution of standard industrial and commercial lease forms, as well as its multiple-listing service.

Crown Realty & Development of Irvine acquired a 258,000-square-foot industrial and office facility at 9320 Telstar Ave. in El Monte for $30 million from Avnet, an international distributor of semiconductors and other computer-related products. Clyde Stauff and Tom Taylor of Colliers Seeley International represented Avnet. Crown represented itself. A Hager Pacific Properties affiliate purchased a 350,000-square-foot warehouse and office park at 6277 E. Slauson Ave.

Two recent investment property sales set records for the Inland Empire, according to brokers involved in the transactions. GTS Properties Hollywood Inc. of Rolling Hills Estates bought the 628-unit Baywood Villa Apartments at 1171 E. Baywood Drive in Corona from CT Realty Corp. of Newport Beach for $55 million. The figure was the highest price ever paid for an apartment complex in the Inland Empire, said Sean Deasy of CB Richard Ellis, who represented CT Realty.

Colliers Seeley International has formed a corporate real estate finance group to meet what the company describes as a growing demand from property owners for sophisticated financial services. Based in downtown Los Angeles, the group will provide advisory and analytical financial services designed to help clients "achieve better returns on investments, assets and equity," said Cody Plott, Colliers Seeley's president and chief executive. The new group is headed by W. Bret Hardy and Mark K.

J.K. Properties Inc. bought the 240-unit Caribbean Cove Apartments at 2175 S. Mallul Drive in Anaheim from Los Angeles-based Anaheim Wilken Park Associates for $16 million. Richard Carr of Preferred Realty Advisors represented the buyer and the seller. Marc Needleman acquired the 22,320-square-foot Petco Center at the southwest corner of Firestone Boulevard and Patton Road in Downey for approximately $5.5 million from Downey LLC. Matt Sullivan of Marcus & Millichap represented the seller.

Torrance-based developer Mar Canyon Gersten acquired a 235,000-square-foot industrial property in Torrance for $9.5 million and plans to invest $16 million into converting the 10-acre site into a campus-style office project. The site will include 165,000 square feet of office space when completed in 2002, said Stephen Cramer of Colliers Seeley International, who along with Colliers Seeley's Mike Condon represented Mar Canyon and the seller, Honeywell International Inc. The property at 2545 W.