Media Coverage

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DAUM Commercial Real Estate Services has completed the sale of a 123,754 square-foot industrial building in the Southwest submarket of Phoenix, Arizona on behalf of both the buyer, Exeter Property Group, and seller, David Turner International, LLC.

The buyer will benefit from the property’s long-term, in-place lease to a food processing and manufacturing tenant, as well as its location within the Southwest Valley submarket, which has seen sustained rent growth over the past several years, notes Trevor McKendry, a Vice President at DAUM Commercial, who completed the sale alongside DAUM First Vice President Chris Rogers.

“THE INDUSTRIAL SECTOR IN PHOENIX HAS EXPERIENCED STRONG INVESTOR CAPITAL INTEREST AS THE CITY CONTINUES TO SEE A TREMENDOUS AMOUNT OF ECONOMIC, EMPLOYMENT, AND POPULATION GROWTH,” SAYS MCKENDRY. “THROUGH OUR LONG-STANDING CONNECTIONS AND FOCUS IN THE METRO-PHOENIX INDUSTRIAL MARKET, WE WERE ABLE TO SECURE THE DEAL WITH EXETER, WHOSE PHOENIX INDUSTRIAL PRESENCE ENABLED THEM TO QUICKLY RECOGNIZE THE OPPORTUNITY TO ACQUIRE A PROPERTY OF THIS SIZE OFF MARKET.”

The Phoenix industrial market experienced a decrease in vacancy to 7.1 percent in Quarter 1, with an uptick in new construction deliveries, and very strong activity amongst all product and tenant types, notes Rogers, citing a recent DAUM report.

This asset benefits from a prime location that offers convenient access to major freeways including I-10, I-17, U.S. 60, 101 FWY, and the South Mountain 202, which is currently under construction.

Rogers adds: “These route options ultimately provide shorter drive times to other major markets, and are considered a demand driver for the area. The property also benefits from features that are all synonymous with the functionalities of today’s user needs.”

The asset itself is situated on a fully paved 7.2-acre site and includes an air-conditioned warehouse, six dock-high and two grade-level doors, ample parking, and a clear height of 24 feet.

The property was purchased for $8.16 million. The building is located at 4502 W. Monterosa Street in Phoenix, Arizona.

Original Article:

https://www.blaujournal.com/daum-commercial-directs-sale-of-123754-sf-industrial-building-in-phoenix-az/

Consolidated Electrical Distributors (CED) has inked a 10-year lease for a 51.5k sf warehouse property in Phoenix. The property is located at 1717 E. Rairdan Lane, within the city’s Central City submarket.

The new tenant, one of the country’s largest electrical supply distribution networks, is relocating and expanding from a 20k sf property elsewhere in Phoenix after nearly 30 years of occupancy. The new location will act as a significant Southwest hub for CED, which has grown to encompass more than 600 offices across 47 states through its 60-year history. In addition to relocating to a building that is approximately 30k sf larger its previous location, the firm plans to create 40 to 50 new jobs locally.

Sebastian Sica and Rich Sica with DAUM Commercial Real Estate Services represented the tenant in the deal. DAUM also worked closely with the tenant, landlord, and contractors to upgrade the asset, originally constructed in 1986, and optimize it for CED’s operations, notes Rich.

According to Sebastian, the private landlord previously operated a moving and logistics business at the location and recognized the value of retaining the asset as an investment property within the growing Phoenix industrial market after closing the company. The landlord also owns the four acres surrounding the warehouse, offering the potential for further expansion for CED or future tenants.

http://ht.ly/gIyY30oB1xE

May 1, 2019 – DAUM Commercial Real Estate Services recently directed the acquisition of an 8.67-acre land parcel in the North Orange County city of La Habra, California on behalf of the buyer, West Harbor Capital, a Torrance, California-based private equity investment firm.

West Harbor Capital, which focuses exclusively on the investment and asset management of industrial properties throughout Southern California, plans to complete horizontal development at the site for surface industrial use, according to Chris Migliori, Executive Vice President at DAUM’s Newport Beach office.

Migliori represented both the buyer and the seller, Harbor Blvd., Investments, LLC, alongside DAUM’s Paul Gingrich, also an Executive Vice President at the Newport Beach office.

“THE NEED TO ACCOMMODATE LAST-MILE ECOMMERCE DELIVERY IS DRIVING TREMENDOUS MARKET DEMAND FOR VARYING TYPES OF INDUSTRIAL SPACE IN CLOSE PROXIMITY TO POPULATION CENTERS,” EXPLAINS MIGLIORI. “OPERATORS LOOKING FOR PROPERTIES WITH SURFACE STORAGE SPACE ARE EXPERIENCING AN ESPECIALLY DIFFICULT TIME DUE TO VERTICAL DEVELOPMENT IN THE ALREADY TIGHT MARKET. OUR CLIENT STRATEGICALLY IDENTIFIED AN OPPORTUNITY TO ACQUIRE THIS INFILL LAND PARCEL AND BRING TO MARKET A SPACIOUS FULLY PAVED, FENCED, AND SECURED STORAGE YARD, WHICH ALSO LEAVES ROOM FOR POTENTIAL FUTURE DEVELOPMENT.”

Migliori notes that the site is well located in the highly competitive North Orange County submarket, which posted sub-3-percent vacancy rates at the end of 2018, according to a DAUM market report. The location offers close proximity to freeways including State Routes 57, 91, 60, as well as Interstate 5.

Adam Deierling, Managing Partner of West Harbor Capital, states: “We were fortunate to have exceptional partners on this project. The DAUM team is extremely well-versed in this type of transaction. Their efforts and professionalism in bringing all parties together were instrumental to closing the transaction. We also worked hand-in-hand with the city of La Habra, a municipality with great foresight and leaders who truly understand the dynamics of the industry and our project’s impact on the local community.”

Deierling also notes that this acquisition of this site is well-aligned with the firm’s business strategy to acquire industrial properties and land sites in infill locations across Southern California.
Additionally, the site presents the opportunity for further build-to-suit development of an up to 150,000 square-foot warehouse building.

The site is located at 551-555 South Harbor Boulevard in La Habra, California and is now available for lease or sale, with the potential to be divided into two parcels. Construction is expected to be completed in Q3 2019.

https://www.blaujournal.com/daum-commercial-directs-acquisition-of-rare-infill-land-parcel-in-north-orange-county-ca/

(Photo from Left to Right: Ron Berndt, Kevin Tamura & Patti Kutschko)

The Santa Clarita Valley Economic Development Corp. announced the top commercial real estate brokers active in the area at its annual Power Broker Breakfast.

On April 18, brokers, civic and community leaders gathered at College of the Canyons to honor those with the most transactions for their investment in helping businesses find the right location.

“Brokers are important partners with SCVEDC and we work closely with them to bring new jobs to the Santa Clarita Valley,” Holly Schroeder, president and CEO of the corporation, said Friday. “Our Power Broker Breakfast recognizes those brokers who had the most activity in SCV during 2018.”

A total of 18 individuals received recognition, representing six commercial real estate companies based in and around the SCV.

They are: Tim Crissman, ReMax/Crissman; Ron Berndt, Daum Commercial; Kevin Tamura, Daum Commercial; John Cserkuti, NAI Capital; Chris Jackson, NAI Capital; Todd Lorber, NAI Capital; Randy Cude, Spectrum CRE; Andrew Ghassemi, Spectrum CRE; Yair Haimoff, Spectrum CRE; Matt Sreden, Spectrum CRE; Matt Dierckman, CBRE; Sam Glendon, CBRE; Craig Peters, CBRE; Richard Ramirez, CBRE; Doug Sonderegger, CBRE; Christopher Erickson, Colliers International; John Erickson, Colliers International; Kevin Fenenbock, Colliers International.

Those honored closed in on more than 618 transactions, with collective footage of about 21.4 million square feet, according to data from the SCVEDC.

“Their impressive performance reflects the fact that new development projects have come online, and the Santa Clarita Valley is a destination for a growing number of businesses looking for land, modern facilities and a business-friendly environment,” Schroeder said in a statement.

The corporation also awarded Peters with “Transaction of the Year” for Phase 1 of Needham Ranch, a 52 net-acre land sale between Highway 14 and downtown Newhall, and valued at more than $135 million. The overall 135-acre project currently considered the most significant industrial project in Los Angeles County.

“My team and I are honored to be acknowledged for ‘Transaction of the Year’ by the SCVEDC for Phase 1 of the Center at Needham Ranch. The transaction was the culmination of over 20 years of work by many people.” Peters said in an email Friday, also acknowledging teamwork from Trammell Crow and Clarion and the city of Santa Clarita.

DAUM Commercial Real Estate Services has completed the 10-year lease of 48,000 square feet of a 96,000 square-foot industrial manufacturing property in the Phoenix submarket of Chandler, Arizona, on behalf of the lessee, Advanced Circuits, one of the top-three largest printed circuit board manufacturers in North America.

With this lease, the Aurora, Colorado-based firm is relocating from 24,000 square feet of space in nearby Tempe, Arizona – doubling its presence in the region and creating 150 new jobs, according to Sebastian Sica, an Associate at DAUM’s Phoenix office.

“Our Client was seeking to relocate from their previous Arizona location after 20 years, as part of a company expansion that will bring several jobs to the area, as well as a desire to modernize its manufacturing facilities,” explains Sebastian, who represented the tenant along with DAUM Executive Vice President Rich Sica.

According to Sebastian, DAUM began working with Advanced Circuits a year ago after the firm expressed interest in another property.

“After strategically determining that the initial space was not an ideal fit, we continued to work with Advanced Circuits to identify a property that could be tailored to its needs as the firm expands,” continues Sebastian. “Through working closely with the tenant, landlord, and contractors, we were able secure a long-term lease for this recently-renovated property in a strong location, as well as negotiate tenant improvements that met the Client’s requests.”

According to Sebastian, the property is well-positioned adjacent to the Interstate 10, providing ease-of-access throughout the Southwest region and to the Ports of Los Angeles and Long Beach in California.

The firm will also benefit from being a part of the growing tech industry in Chandler, which includes the headquarters of Microchip Technology and an Intel campus that recently received a $7 billion investment, he notes.

The lessor in this transaction is Montreal, Canada-based global real estate company Ivanhoé Cambridge.

The building features 24’ clear height, high-end office space, and dock-high and grade-level loading.

Recent upgrades to the asset include a new roof, T-5 warehouse lighting, a fresh coat of exterior paint, and a new access ramp to the office space.

The property is located at 6615 W. Boston Street in Chandler, Arizona.

About DAUM Commercial

DAUM Commercial Real Estate Services is a leading provider of commercial real estate services including brokerage, tenant representation, consulting, leasing, sales and property management. Founded in 1904, DAUM focuses on longstanding client relationships and draws upon its century-long track record to deliver steadfast insights and proven results to clients across the U.S. DAUM has ten offices throughout Southern California and Arizona. More information is available at www.daumcommercial.com.

Panattoni Development Company, Inc. (“Panattoni”), Principal Real Estate Investors (“Principal”) and DAUM Commercial Real Estate Services have completed the 10-year lease of a 69,882 square-foot industrial building currently under construction in Orange County, California to a publicly traded commercial and residential roofing distributor.

Chris Migliori and Paul Gingrich, both Executive Vice Presidents at DAUM, represented Panattoni and Principal in this transaction.

This is the first lease transaction completed for the Orange County Commerce Center, a four-building, 232,354 square-foot Class A industrial development project, which is the only industrial development project under construction in the severely supply-constrained North Orange County submarket, according to Jacob LeBlanc, Partner at Panattoni.

“THE WALLS WERE JUST TILTED FOR ALL FOUR BUILDINGS AND SHORTLY THEREAFTER WE WERE ABLE TO FINALIZE THIS LEASE WITH A HIGH-QUALITY LONG-TERM TENANT,” SAYS LEBLANC. “WE ARE EXCITED TO HAVE COMPLETED OUR FIRST LEASE TRANSACTION WHILE STILL EARLY IN THE CONSTRUCTION PROCESS. LEASING THE LARGEST BUILDING IN THIS PROJECT BEFORE CONSTRUCTION COMPLETION REALLY SPEAKS TO THE STRONG TENANT DEMAND IN THE 45,000 TO 70,000 SQUARE-FOOT SIZE RANGE IN THE ORANGE COUNTY INDUSTRIAL MARKET.”

The new tenant is a publicly traded commercial and residential roofing distributor, which currently operates in over 500 locations throughout all fifty states in the United States and is further expanding its presence in Orange County with this lease, notes LeBlanc.

“There continues to be particularly high demand for industrial space in North Orange County, with vacancy rates posting consistently in the 1-percent-range, and asking rental rates in the county increasing 8 percent over the past year,” adds Chris Migliori. “With this lease, the tenant has the opportunity to occupy a best-in-class industrial building with modern, in-demand amenities in a consistent and thriving market.”

LeBlanc adds: “We strategically developed this project to fill a deep hole in the supply-constrained Orange County industrial market. The unique opportunity to occupy Class A industrial product in this region has attracted interest from several exceptional companies. We are excited to establish this relationship with our new tenant and are grateful to the DAUM team for facilitating a smooth and quick lease transaction.”

DAUM was retained as the exclusive listing agent for this project before the development broke ground earlier this year. The other three buildings, ranging from 47,813 to 60,809 square feet, are currently available for lease.

The 69,882 square foot building to be occupied will feature a 6,995 square feet of high quality two story executive office, 30’ minimum warehouse clear height, ESFR sprinkler system, 100% site concrete throughout the auto parking and truck court areas, and a 132’ fully secured concrete truck court/yard with exceptional loading capabilities featuring 7 dock high doors and 1 grade level door.

The tenant will also benefit from close proximity to five major freeways including Interstate 5, State Routes 91, 57, 55 and 241 Toll Road, and direct access to the Ports of Los Angeles and Long Beach.

The property is located at 721 S. Van Buren Street in Placentia, California and is expected to be completed by early 2019. The additional three buildings that comprise the Orange County Commerce Center are located at 711 S. Van Buren Street in Placentia, California and 1365 & 1367 S. Van Buren Street in Anaheim, California.

The lease is scheduled to commence immediately upon construction completion in early 2019. The total lease consideration is approximately $8.65 million. Curtis Krusie and John van Rossem with Mohr Partners represented the tenant in this transaction.

DAUM Commercial completed the 10-year lease with a roofing distributor. The Class A asset is part of Orange County Commerce Center, a four-building property totaling 232,354 square feet.

DAUM Commercial Real Estate Services, on behalf of Panattoni Development Company Inc. and Principal Real Estate Investors, has leased a 69,882 square-foot industrial building currently under construction in Orange County, Calif. A publicly traded commercial and residential roofing distributor will occupy the building for the next decade.

Located at 721 S. Van Buren St. in Placentia, Calif., the industrial facility is part of the 232,354 square-foot Orange County Commerce Center, a four-building Class A property on the border of Placentia and Anaheim, Calif., that broke ground in June 2018. The site is in close proximity to five major freeways and offers direct access to the Ports of Los Angeles and Long Beach.

MODERN SPACE
The upcoming building will include 6,995 square feet of office space, 30-foot minimum warehouse clear height, ESFR sprinkler system, concrete throughout the auto parking and truck court areas and a 132-foot fully secured concrete truck court/yard with loading capabilities. The asset is expected to be completed early this year.

“Leasing the largest building in this project before construction completion really speaks to the strong tenant demand in the 45,000 to 70,000 square-foot size range in the Orange County industrial market,” said Jacob LeBlanc, partner at Panattoni, in prepared remarks.

This is the first lease transaction completed for Orange County Commerce Center. Daum Executive Vice Presidents Chris Migliori and Paul Gingrich represented Panattoni and Principal in the deal. Curtis Krusie and John van Rossem with Mohr Partners acted on behalf of the tenant. The other three buildings, ranging between 47,813 and 60,809 square feet, are currently available for lease.

Irvine, Calif.-based Westport Properties has acquired a 2.2-acre land parcel, located at 4800-4830 Valley Blvd. in Los Angeles’ Eastside submarket, for $5.4 million. The company plans to develop a three-story, 152,000-square-foot US Storage Centers self-storage facility on the site.

Ben Spinner of DAUM Commercial Real Estate Services represented the buyer, while James Vu and Michael Collins, also of DAUM, represented the private seller in the deal.

Westport Properties recently completed a self-storage facility at 2500 W. Hellman Ave. in Alhambra, Calif., and is currently underway on a development at 1901 W. El Segundo Blvd. in Compton, Calif.

DAUM Commercial Real Estate Services has directed the acquisition of a 2.2-acre land parcel in the Eastside submarket of Los Angeles, California, on behalf of both the buyer and the seller.

The buyer, Irvine, California-based real estate investment company Westport Properties, plans to develop a three-story, approximately 152,000 square-foot self-storage facility on the site, according to Ben Spinner, Associate Vice President at DAUM’s Los Angeles office, who represented the buyer.

DAUM Commercial Vice President James Vu and Vice Chairman Michael Collins represented the private seller, who previously operated a metal and plumbing business at the location, in the transaction.

“THIS WAS A RARE OPPORTUNITY FOR THE BUYER TO ACQUIRE MORE THAN 95,000 SQUARE FEET OF DEVELOPABLE LAND IN CLOSE PROXIMITY DOWNTOWN LOS ANGELES AND OFFERING EASE-OF-ACCESS TO MAJOR FREEWAYS,” EXPLAINS SPINNER. “WESTPORT STRATEGICALLY RECOGNIZED THE VALUE IN BRINGING A LARGE-SCALE SELF-STORAGE DEVELOPMENT TO THE SITE DUE TO THE LACK OF STORAGE FACILITIES IN THE IMMEDIATE AREA.”

According to a recent report, self-storage and moving service revenues in the United States are forecast to grow 2.7 percent yearly through 2022, indicating a growing demand for the product type.

Spinner also cites the land parcel’s prime location surrounded by residential neighborhoods, and in a submarket experiencing high levels of upcoming multifamily and commercial development, as strong demand drivers for self-storage.

“After we identified this site as an excellent location for Westport, DAUM participated in several complex negotiations to secure the land amid several competing offers, including from other self-storage developers,” says Spinner. “Ultimately, we were able to help ensure that the developer’s vision for the site was feasible, and complete a win-win transaction for both the buyer and the seller.”

The land parcel was sold for a total purchase price of $5.4 million and is located at 4800-4830 Valley Boulevard in Los Angeles, California.

Westport Properties recently completed a self-storage facility development at 2500 W. Hellman Ave, Alhambra, and is currently underway on an additional development at 1901 W. El Segundo Blvd, Compton.

Westport Properties has picked up a 2.2-acre land parcel in the Eastside submarket of Los Angeles. Irvine-based Westport plans to develop a three-story, 152k sf self-storage facility on the site, located at 4800-4830 Valley Blvd.

Ben Spinner with DAUM Commercial Real Estate Services represented the buyer in the deal. James Vu and Michael Collins, also with DAUM, repped the seller, who previously operated a metal and plumbing business at the location.

“This was a rare opportunity for the buyer to acquire more than 95k sf of developable land in close proximity Downtown Los Angeles and offering ease-of-access to major freeways,” explains Spinner. “Westport strategically recognized the value in bringing a large-scale self-storage development to the site due to the lack of storage facilities in the immediate area.”

According to a recent report, self-storage and moving service revenues in the United States are forecast to grow 2.7% yearly through 2022, indicating a growing demand for the product type.

Spinner also cites the land parcel’s prime location surrounded by residential neighborhoods, and in a submarket experiencing high levels of upcoming multifamily and commercial development, as strong demand drivers for self-storage.

Westport Properties recently completed a self-storage facility development at 2500 W. Hellman Ave in Alhambra and is currently underway on an additional development at 1901 W. El Segundo Blvd in Compton.