Kingsbridge International, a Chatsworth importer and wholesaler of housewares and giftware, is relocating its corporate, warehouse and distribution operations to Simi Valley.

The city issued a press release Wednesday announcing that Kingsbridge had recently closed escrow on two buildings on Madera Road.

The transaction is valued at $11.42 million.

“Kingsbridge was attracted to this property because the quality of the real estate and the price point were incredibly attractive,” said John DeGrinis, executive vice president of Colliers International, who brokered the deal.

The buildings, one a 135,000- square-foot warehouse and the other a 72,000-square-foot office space, were the headquarters of Bugle Boy Industries before they were purchased by Countrywide, now Bank of America.

The office space is currently being used by BOA while the warehouse has gone unoccupied. Kingsbridge will operate from the warehouse and will lease the office back to BOA for its continued use.

The move is expected to bring 32 employees to the city.

“We are excited to have Kingsbridge International as part of our community,” Mayor Paul Miller said in the press release.

“As a growing corporation, Kingsbridge will find a welcoming environment that will further their growth and we look forward to them becoming active in the Simi Valley community.”

Kingsbridge will make the move into the Madera Road building in early 2011 with a final transition in April 2011.

In the interim, company representatives will work with the city in the processing of permits for tenant improvements and other required building modifications.