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$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.
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