$18M DEAL MOVES CALIF. CARTRIDGE FIRM

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$18M DEAL MOVES CALIF. CARTRIDGE FIRM

 user 2006-12-13 at 1:16:00 pm Views: 50
  • #16896

    $18M Deals Move Printer Cartridge Firm
    CHATSWORTH,
    CA-Printing Technologies Inc., a manufacturer of laser and inkjet
    printer cartridges, has sold its existing headquarters in a six-month
    sale-leaseback and plans to move into a newly acquired facility next
    year in two deals totaling $18.1 million. According to Scott Caswell of
    Van Nuys-based Delphi Business Properties Inc., Printing Technologies
    will expand into a 79,400-sf headquarters and production facility from
    its existing 50,286-sf facility in anticipation of growth estimated at
    50% in 2007.Caswell represented 21001 Nordhoff Partners LLC, the
    Printing Technologies entity that acquired the new headquarters, in its
    $11.6 million acquisition of the new facility at 21001 Nordhoff St.
    Caswell and Bruce Simpson, also of Delphi, represented the sellers of
    the Nordhoff Street building, the Keith and Brenda Harvie Family
    Trust.Concurrently, Caswell reports that Printing Technologies sold its
    former facility at 9526 DeSoto Ave. in Chatsworth to local investors.
    Printing Technologies will lease back the DeSoto property for
    approximately six months and plans to move into the new headquarters in
    the second quarter of 2007.The new Chatsworth facility will be used
    primarily to increase the company’s color laser toner and inkjet
    business, according to Peter DeSalay, CEO and president of Printing
    Technologies. DeSalay says that the firm has been growing at the rate
    of 35% yearly and expects to grow by 50% in 2007. Printing Technologies
    plans to add a new building of 38,000 sf at the 21001 Nordhoff
    location, DeSalay notes.The buyer of the existing Printing Technologies
    property at 9526 DeSoto Ave. was Investor 9526 MYOB, which paid $6.5
    million for the facility. Caswell represented the buyer, with Caswell
    and Simpson represented the Printing Technologies selling entity, 9526
    DeSoto LLC.