Media Coverage

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DAUM Commercial Real Estate Services completed the sale of a 1.78-acre industrial outdoor site with five pre-existing storage buildings in Orange. The sale price was $8.6 million.

Mike Barreiro, Dennis Holt and Devin Ray of DAUM Commercial represented the seller, a private family trust. The buyer was represented by Mitch Wright of Bob Wright Industrial Property.

Located at 760 Batavia St., the property is well suited for its new owner, McPeek’s Chrysler Dodge Jeep of Anaheim. The McPeek sales showroom is less than two miles north of the site. McPeek needed the extra outdoor space for additional service facilities and fleet storage.

“The industrial outdoor market in Orange County is driven by extremely short supply, particularly for well-located sites within five miles of most of the county’s population,” said Barreiro. “This factored heavily into the success of this transaction, helping our client hit the highwater mark of $110 per square foot, based on the property’s total acreage, for North Orange County sales. Only one other industrial site transaction in the same market crossed the $100 per square foot mark in the past 12 months.”

DAUM Commercial Real Estate Services completed the lease of a 2.2-acre industrial property with a 54,648 square-foot freestanding Class A logistics facility at 1215 E. Washington Blvd. in Montebello. The total consideration for the building’s five-year lease was $6 million.

EVP Dennis Sandoval represented the lessor, a Toronto-based real estate investor and long-term DAUM client. The lessee was represented by Kun Li of Harvest Realty.

“The industrial market in Los Angeles County seems to be slowly coming out of the doldrums caused by wider economic challenges, and this transaction demonstrates the current opportunity for industrial owners,” said Sandoval. “The lessee is setting up its first ‘last mile’ distribution center in the U.S., with the expectation of adding more across the country. With vacancies at multi-year highs, growing companies with expansion plans are prime targets for in-fill leases at well-located properties like this one.”

DAUM Commercial Real Estate Services completed the sale of a 40,129-square-foot industrial property to Privy, which will be used as the apparel wholesaler’s expanded headquarters. Located at 2640 E. 26th St. in Vernon, the building sold for $13,750,000.

Anthony Bergeman, SIOR, Michael Chase and Krishna Shegran of DAUM Commercial’s Capital Markets office in Costa Mesa represented the seller, a private investment company. Moon Lim and Ryan Judd of DAUM’S Los Angeles office also participated in the transaction. Privy was represented by Steve Kim of One Commercial.

“Despite a drop in sales volume late last year, this deal came together in a very resilient industrial market just south of Downtown Los Angeles,” Bergeman said. “The property is strategically located less than two miles from the 10 freeway with easy access to the ports and LAX Airport.”

DAUM Commercial Real Estate Services completed the sale of a 104,734 square-foot Class A office property in Cypress to Murray Company, a leading mechanical contractor. Located at 5995 Plaza Drive, the building traded for $19 million.

EVPs Danielle Knudson and Christopher Migliori at DAUM represented the buyer. CBRE’s Tom Sheets and Quint Carroll represented the seller.

As owner/occupier, Murray Company purchased the property at an estimated 30-35% of replacement value. Murray expects to occupy most of the building for its corporate offices, with more than 250 employees eventually working out of the new office. A slate of improvements is planned.

“The overall office market continues to navigate challenges due to the post-pandemic declines in tenant interest, sales volume, lease rates and absorption,” said Migliori.  “The discount in price for the office building offered a great opportunity to purchase a new location for the seasoned mechanical contractor.”

Alterra IOS has acquired a strategically located industrial property located at 1369-1379 W. 9th St. in Upland. Deals terms were not disclosed. The acquisition marks Alterra’s expansion into the Inland Empire.

The deal was spearheaded by Matt McNutt, VP of acquisitions at Philadelphia-based Alterra Property Group, and facilitated by Daum Commercial. The property covers 4.5 usable acres and includes 18,100 square feet of improvements across three buildings.

Alterra plans to enhance the property with improvements including paving, landscaping and fencing
upgrades, along qith refreshing the onsite buildings with new roof systems. The company anticipates a high level of tenant interest.

“We continue to be active and are excited about the opportunities that we are currently seeing,” said McNutt. “Tenant demand along the 9th Street corridor is strong with several active IOS requirements in the market, and we look forward to leasing this property.”

DAUM Commercial Real Estate Services completed the lease of a 102,878-square-foot freestanding Class A industrial property in Ontario. The building was leased to an undisclosed tenant for four years.

Christopher Migliori, EVP at DAUM’s Newport Beach office, and Gus Andros of DAUM’s Ontario office represented the lessor. Jeff Bellitti of JLL represented the lessee.

Located on 4.7 acres at 5505 E. Concours St. in Ontario, the facility was built in 2001. It includes 3,102 square feet of office, 14 dock high loading doors with levelers, a ground level door and a secured truck court, and BNSF rail service with six doors.

“Strategically located at the intersection of major trade arteries and international airport, Ontario serves as a crucial logistical hub for Southern California and positions itself as the prime mover in regional logistics and distribution,” Migliori said. “The region attracts Fortune 500 companies and e-commerce giants seeking efficient access to Ports, Freeways, and modern high-quality distribution buildings.”

A 7,100-square-foot industrial asset in the Arts District has sold for $4.4 million.

The warehouse property, located at 2133 Bay St., was acquired by a developer, manufacturer and distributor of branded apparel and other merchandise, according to the downtown-based brokerage Daum Commercial Real Estate Services.

“This property was situated in an ideal location for our client,” said Ryan Judd, an associate specializing in industrial and creative offices spaces at Daum. “The Arts District is a highly sought-after region that has become a creative hub for a variety of businesses. This acquisition positions the new owner-user near the artists and brands that comprise their client base.”

Judd represented the undisclosed buyer in the sale, along with Daum associate Lindsay Park, who noted that the sale happened rather quickly amid a competitive central market.

“This was an in-demand property that was on the market for less than a week,” Park added.

Chad Maxner of Maxner Real Estate represented the seller, Part-Rosin Properties LLC.

Known for its arts scene, the neighborhood is experiencing an abundance of construction.

Some of the major projects in development include the Arts District Center, a 12-story structure consisting of 129 condominiums and 113 hotel rooms; Alloy, which at 35 stories is set to become the Arts District first high-rise and will feature 475 apartments, 105,000 square feet of office space and 18,000 square feet of retail; and Ava Arts District, a mixed-use project that replaced a cold-storage facility and will now become 475 apartments over 61,000 square feet of ground-floor commercial space, according to Urbanize.