Media Coverage

Chow Tai Fook and Gem Hooray, a Hong Kong-based jewelry company, recently opened their first US store at the Brea Mall.

The jewelry store is on the upper level of the mall, between Lush and Chrono Toys.

Chow Tai Fook is nearly 100 years old, opening in 1929 in Guangzhou, China. The company operates thousands of stores in mainland China. It specializes in jewelry in either 18 karat or 24 karat gold.

Prices start in the low-hundreds for gold items. See more of their selection online at gemhooray.com

DAUM Commercial Real Estate Services closed the lease deal on behalf of the mall owner, Simon Property Group.

DAUM Commercial Real Estate Services directed the acquisition of an approximately 5,000-square-foot restaurant space at 1212 S. Baldwin Ave. in Arcadia to Dream1212 LLC, the owner of Mama Lu’s Dumpling House, a traditional Chinese restaurant with several locations throughout Southern California. The purchase price was $4 million.

The Arcadia property now serves as Mama Lu’s sixth location, said DAUM EVP Rudy Lara, based out of DAUM’s South Bay office. “With its flagship shop in Monterey Park, Mama Lu’s already has a strong following in the San Gabriel Valley, and our client was looking to expand its presence in the area with an Arcadia location,” Lara said.

Lara added that the acquisition is part of a rapid expansion of Mama Lu’s, with the openings of Beverly Hills and Las Vegas locations planned for early 2025. In addition to Rudy Lara, the DAUM team included VP Nick Peukpiboon and DAUM’s Nathan Lara and Andrew Lara.

A 39.8k sf manufacturing and distribution industrial building in Tempe, AZ traded hands in a $7.3 mil ($183/sf) deal. The property is located at 1326 West Fairmont Drive.

The asset acquired is centrally located in Tempe, with close proximity to major freeways and Sky Harbor Airport. The building, which features seven dock doors and heavy power to accommodate both manufacturing and distribution uses, was the investor’s first purchase in the Tempe market.

Parker Houston, Chris Rogers, and Trevor McKendry with DAUM Commercial Real Estate Services represented the private investor buyer in the transaction. The new owner plans to implement additional improvements to the property to better attract quality tenants.

“Arizona is one of the country’s fastest-growing states, and the Phoenix Metro in particular, including Tempe, is experiencing tremendous population growth,” said Houston. “This bodes well for investors in the region’s industrial sector, particularly manufacturing and distribution facilities that serve the area.”

According to DAUM research, several Phoenix industrial market fundamentals improved during Q3 2024, with sales volume increasing 30.2%, leasing activity rising 41.4%, and rental rates growing 1% during the quarter. Industrial properties under construction in the metro have experienced a steady decrease over the last five quarters, an indication that supply is in check and elevating the value of existing properties in the market.