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The LARA Team of DAUM Commercial Real Estate Services has completed the sale of a 5-acre land parcel for development in the Los Angeles County submarket of Santa Fe Springs, California for $34 million.

The buyer, Rexford Industrial, plans to complete the ground-up development of a 108,000 square-foot, Class A warehouse facility at the site. The firm is also currently offering the existing 87,529 square-foot property for lease with flexible terms while the development planning is underway, according to Jordan Lara, an Executive Vice President at DAUM Commercial, who represented the seller and procured the buyer alongside fellow DAUM Executive Vice Presidents and Lara Team members Nathan Lara, Rudy Lara, and Andrew Lara.

“The seller, a private family business, had an irreplaceable location in the Mid-Counties area of Los Angeles County ideally suited for e-commerce distribution,” explains Jordan, noting that the submarket posted industrial vacancies of just 0.80% in Q1. “With its close proximity to highway transportation routes, direct access to the Ports of Los Angeles and Long Beach, and freeway visibility with over 500 feet of Interstate 5 frontage, we were ultimately able to secure one of Southern California’s leading industrial real estate firms as the buyer and complete a win-win transaction for both parties.”

According to Nathan Lara, who represented the family in acquiring the property from their landlord in 2016, alongside Rudy Lara, all parties worked tirelessly to ensure a quick, smooth transaction and navigated market challenges to ensure that Rexford Industrial would be able to deliver a state-of-the-art development to the market.

“Our long-standing relationships with both the buyer and the seller were crucial in the negotiations for this transaction,” continues Nathan. “Throughout the entire transaction process, we kept all parties in regular communication to successfully work through due diligence and satisfy zoning requirements. When zoning challenges emerged, we were able to effectively communicate both the seller’s and buyer’s interests to maintain the chemistry among all groups.”

Patrick Schlehuber, Executive Vice President, Investments at Rexford Industrial, adds: “The city was in process of downzoning the subject property and adjacent neighbors. Our team worked effectively and collaboratively to maintain the current zoning for both industrial and commercial uses, which will allow us to execute our long-term plan to deliver much-needed new Class A space to the market.”

Rexford leveraged its connections with the city and large development department to come up with a solution, according to Tomas Narbutas, Acquisitions Manager, Market Leader: “We presented a creative ground-up concept crafted by our in-house architectural team that would achieve the goals that the city was aiming for, while still allowing for the development,” says Narbutas. “DAUM played an instrumental role in guiding the seller through this complex transaction and bringing it to a satisfactory close.”

The property offers immediate access to major freeways such as Interstate 5, Interstate 605, Interstate 105, and State Route 91, and is within 25 miles of the Port of Long Beach, the Port of Los Angeles, and Los Angeles International Airport.

The property is located at 13711 Freeway Drive, Santa Fe Springs, California.

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.

DAUM Commercial Real Estate Services, recently completed the lease of an state-of-the-art, Class A industrial building in the Inland Empire submarket of Fontana, California. The freestanding 310,550 square foot property was leased for a total consideration of $30 million, according to Gus Andros, SIOR, an Executive Vice President at DAUM Commercial.

Andros secured the lease on behalf of the lessor, LBA Logistics, alongside CBRE Senior Vice Presidents Eloy Covarrubias and Joe Werdein.

“Our Client owns a high-caliber asset suited for warehousing and distribution uses, and was seeking to leverage record-high demand for this product type to secure a long-term lease to a quality tenant with minimal-to-no gap in rental income,” says Andros, noting that the Inland Empire saw industrial vacancy rates at an extremely tight 0.7% in Q1, according to a recent DAUM report. “We were able to draw upon vast market knowledge to strategically evaluate prospective lessees, ultimately exceeding expectations, identifying a tenant who understood the deep value of the asset and location, and preleasing the building prior to the current tenant vacating.”

The lessee, an out-of-state private client expanding their west coast operations, was represented by Randy Lockhart and Steve Sprenger, Executive Managing Directors at Newmark.

“Our long-standing relationships with the lessor and fellow brokers in the market were pivotal in the negotiations for this transaction,” continues Andros. “Through our seamless collaboration, we were able to effectively communicate both parties’ interests and successfully arrange a favorable lease that met all timelines.”

The property is positioned as one of the highest quality industrial assets in the Inland Empire West, offering immediate access to major freeways such as Interstate 10 and 15.

The asset includes 6,049 square feet of office space and features 32’ clear height, 45 dock-high doors, two ground-level doors, a 183’ secured truck court, 59 trailer spaces, 153 parking spaces, and ESFR sprinklers.
The property is located at 15790 Santa Ana Avenue in Fontana, California.

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 eleven offices throughout Southern California and Arizona. More information is available at www.daumcommercial.com.

DAUM Commercial Real Estate Services has completed the sale of two Class A industrial buildings totaling 53,651 square feet in central Los Angeles, California, on behalf of the seller, a private family real estate investment trust, for a total consideration of $28 million.

Jerry Sackler, an Executive Vice President and Branch Manager at DAUM Commercial, represented the seller and procured the buyer, Rexford Industrial, a leading industrial real estate firm in Southern California.

“The seller had an asset that was extremely well located in the heart of Los Angeles, in close proximity to major thoroughfares and Downtown, and was seeking to act quickly to capitalize on the high demand for industrial space in Southern California,” says Sackler. “Leveraging close existing relationships within the local industrial market, our team sourced a buyer who was able to meet the seller’s requirements and closed this transaction off market in less than 30 days.”

Amidst supply chain uncertainties and rising fuel prices, owner-users and tenants continue to seek rare available opportunities to occupy industrial properties in infill markets such as Central Los Angeles due to close proximity to shipping ports and highway transportation routes, notes Sackler.

“In Q4, central L.A. saw vacancy rates as low as 1.5% as demand for ideally located industrial space remains at record highs,” explains Sackler. “This allowed us to ultimately direct this acquisition to one of the region’s top industrial investors, who was attracted to the asset’s in-place cashflow and future value creation, resulting in a win-win for both parties.”

Sackler adds that both buildings are 100% leased to stable credit tenants.

The property offers immediate access to major freeways such as Interstate 5, 10, and 110 and State Routes 101 and 60. As one of the highest quality industrial assets in Downtown Los Angeles with state-of-the-art construction, the two-building asset also features fenced parking lots with ample room for transportation trucks and dock-high loading doors.

The buildings are located at 1501-1545 Rio Vista in Los Angeles, California and was sold for a total consideration of $28 million.

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.

DAUM Commercial Real Estate Services has completed the sale of a 25,334 square-foot industrial property on a 1.45-acre lot in the Orange County submarket of Anaheim, California on behalf of the seller, a private real estate investment firm.

Chris Migliori, SIOR, an Executive Vice President at DAUM Commercial, represented the seller and procured the buyer, CA Kitchens Floors & Baths, in the transaction.

“The seller had an extremely well-located Orange County asset and came to us seeking a quick, smooth sale to capitalize on record industrial demand in the current market,” says Migliori, who notes that the North Orange County submarket experienced industrial vacancy rates of 1.22% in Q4 of last year—some of the lowest in the country.

Migliori notes that the buyer plans to occupy the space once the current tenant is fully vacated.

“The property is going to be occupied by a strong family owned and operated tenant that provides over 28 years of general contracting experience. The building will be used for showroom, warehousing and distribution of materials for their remodeling company,” says Migliori. “Further, due to the asset’s freeway-adjacent location and features, including an increasingly in-demand large gated and secured yard, it would be essentially irreplicable in today’s space-constrained market. This positions the property to attract strong interest from a range of users for years to come.”

Migliori adds that the property offers convenient access to freeways including Interstate 5 and State Routes 57, 22, and 91, as well as close proximity to the Port of Long Beach.

Built in 1961, the one-story freestanding building features 2,000 square feet of office space, a ground level door ramp, two dock high doors, 17-foot clearance height, and 400 amps of power.

The property is located at 1340 South Claudina Street in Anaheim, California and was sold for a total consideration of $7.5 million.

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.

DAUM Commercial Real Estate Services has completed the $13.78 million sale of a 64,109 square-foot industrial asset situated on 2.64 acres of land in the Los Angeles County submarket of Temple City, California, on behalf of the seller, Dunleer, a Los Angeles-based real estate investment firm.

While initially planning to complete an extensive value-add renovation upon acquisition of the asset in Q3 of 2021, Dunleer was able to capitalize on skyrocketing demand for space in the submarket and sell for 130% of the purchase price within just 4 months of ownership, according to Jordan Lara, an Executive Vice President at DAUM Commercial and member of LARA Team, who represented the seller in the transaction.

“This investment benefitted from the rapid movement the Los Angeles industrial market experienced in the second half of 2021,” explains Lara. “When negotiating Dunleer’s purchase of the asset last year, we locked in exceptional pricing early on.

Furthermore, we facilitated a three-month leaseback, which was a significant benefit for the seller and provided us with the opportunity to bring the asset to market. Through strategic marketing of the property, we immediately received several healthy offers from potential lessees and buyers.”

Lara adds that the property is exceptionally located in the highly in-demand San Gabriel Valley submarket, which saw record-low vacancies in Q4 2021 at 1.2%, in addition to 41.6% and 26.1% increases in sale volume and sale prices, respectively, over Q3, according to a recent DAUM report.

“It would be essentially impossible to recreate this asset in such an unbeatable location, which is ideally situated for last-mile distribution, in close proximity to Downtown L.A. and several population hubs,” continues Lara. “We ultimately sold to an owner-user produce distributor that sought to consolidate its existing facilities and relocate to an area that offered room for growth and is closer to its employee base.”

BJ Turner, Founder and CEO of Dunleer, adds: “This was a win-win transaction that allowed us to benefit greatly from a strategically timed purchase and the velocity of the market that has been accelerated and enhanced by the pandemic. We had an ideal asset in a key infill location that was vacant and ready for immediate occupancy by a user – in today’s high velocity, low occupancy market, this asset was a rarity . LARA Team did a fantastic job identifying a highly qualified buyer who was able to close quickly and ultimately secured an irreplaceable property.”

The property features freestanding, secured yards, 21-foot minimum clear height, seven roll-up doors and three dock positions, 2000-amp three-phase power, and ample parking.

The asset is located at 9620-9642 Gidley Street in Temple City, California, within one mile of Interstate 10 freeway, providing ease of access throughout the region, including the Ports of Los Angeles and Long Beach, several local airports, and communities like Pasadena and Arcadia.

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.

DAUM Commercial Real Estate Services has directed the acquisition of two fully-leased industrial properties totaling 208,180 square feet in the San Francisco East Bay submarket of Fremont, California, on behalf of the buyer, CenterPoint Properties.

This acquisition is part of CenterPoint’s continued strategic expansion of its Bay Area footprint, according to Jordan Lara, Executive Vice President and Principal at DAUM and member of Lara Team, who represented the buyer in the transaction.

“We have formed a deep relationship with our client over several years, which has allowed us to be a trusted partner in identifying, evaluating, and negotiating strategic additions to their industrial investment portfolio,” explains Lara. “This off-market transaction was a true collaboration between CenterPoint, the seller, and Lara Team.”
Many solid fundamentals made the opportunity to acquire this well-located asset highly appealing, Lara notes.

“The layout and size of these buildings, situated on 13.69 acres of land, are irreplaceable in the submarket, which is seeing some of the highest demand and leasing activity in the Bay Area,” says Lara. “Strong in-place occupancy from two tenants presents a solid, cash-flowing asset in a booming location poised for future growth as it continues to attract major companies in the tech, distribution, and life science industries.”

According to Lara, cooperation from all parties, as well as his team’s ability to provide the background for the deal and assist throughout the transaction process ensured a timely, successful close.

The asset’s attractive features include a warehouse with 28’ clear height and fully-secured site. The property is located at 41099 Boyce Road in Fremont, California, 94538.

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.

DAUM Commercial Real Estate Services has completed the investment sale of a 64,320 square-foot fully leased industrial food processing and manufacturing facility, situated on 3.86 acres of land in the Los Angeles County submarket of City of Industry, California.

Bob Dipre and Dennis Sandoval, both Executive Vice Presidents at DAUM Commercial, represented the seller, Gaytan Group LLC, and procured the buyer, Rexford Industrial, a real estate investment trust company with an emphasis on industrial properties throughout Southern California.

“After more than 10 years of ownership, Gaytan Group made the strategic decision to sell based on record-high industrial demand and influx of investor capital into the market,” says Dipre. “Based on our decades of experience in the San Gabriel Valley submarket and knowledge of current industrial trends, we were able to secure a buyer who understood the long-term value of the investment at a price that reflected its worth.”

Sandoval notes that the San Gabriel Valley market is seeing sub-2% industrial vacancies, according to a recent DAUM report, as it remains a hub for both traditional manufacturing as well as last-mile distribution due to its prime location.

“With this acquisition, Rexford Industrial adds a stable, cash-flowing investment to its exceptional portfolio of industrial properties,” explains Sandoval. “The USDA-approved food processing facility is on a long-term lease to an established credit tenant specializing in meat and wheat flour snacks manufacturing, with options to extend.”

The City of Industry is a critical contributor to the labor market within the San Gabriel Valley and Southern California, and is home to several regional and national manufacturers, distributors, and other industrial users, adds Sandoval.

The property is conveniently located near major highways, helping facilitate seamless transportation throughout the region, and in close proximity to the Ports of Los Angeles and Long Beach and multiple major airports.

The property, which was sold for a total consideration of $10.7 million, is located at 15430 Proctor Avenue in City of Industry, California.

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.