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DAUM Commercial Real Estate Services announced today that it represented the seller, Paris Family Revocable Trust, in the disposition of a +/- 10,310 square foot industrial building on a 0.65 acre lot for $2,515,000 ($244 PSF).  The building was completed in 1975 and features 1,690 square feet of office space, one (1) grade level door, 17′ clearance and a fully fenced and paved yard.  The property is located at 2841 E. Coronado Street in Anaheim, CA.

The seller was represented by Chris Migliori, Executive Vice President and Paul Gingrich, Executive Vice President, both from DAUM’s Orange County office. The buyer, Jerry Manpearl, was represented by Deena Fischer of Metropolis Realty in the transaction.

About DAUM Commercial
DAUM Commercial 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 throughout 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 a 52,800 square-foot industrial facility in Thousand Oaks, California, on behalf of the lessee, Westlake Storage Solutions.

The tenant, a self-storage and moving facility, is relocating its operations from nearby Westlake Village. Bram White, SIOR, an executive vice president in DAUM’s Ventura County office, represented the lessee in the transaction.

“This transaction represents the strength of both the local industrial market and the national self-storage sector,” says Bram. “As the COVID-19 pandemic continues, industrial product has emerged as a stable asset class benefitting from rising demand. Self-storage in particular continues to grow in popularity, with strong fundamentals including 95% rent collections nationally, as well as increasing demand driven by life changes, which have been plentiful due to the pandemic.”

White notes that DAUM was able to leverage these key drivers to position its client as the right tenant for this space.

“DAUM is known for our strong, long-term client relationships,” says Bram. “We represented this tenant when the company leased its Westlake Village location 8 years ago. By working closely with Westlake Storage and keeping our finger on the pulse of the Ventura County industrial market, we were able to identify this property as the ideal solution for the next phase of lessee’s operations.”

The new lease commences on August 1, 2020. Westlake Storage Solutions was granted early possession upon lease execution, allowing them to begin their move-in process in July.

James Panzetta, President of Westlake Storage Solutions says, “We are a one-stop facility offering self-storage, packaging materials, U-Haul vehicle rentals and U-Haul “U-Box” storage, all in a single location.”

With close proximity to highway 101, the property offers convenient access for Westlake Storage Solution’s customers.

Patrick DuRoss, SIOR of Newmark Knight Frank represented the lessor, PSIP Conejo Spectrum L.P. in this transaction.

The property is located at 1467 Lawrence Drive in Thousand Oaks, 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 directed the acquisition of two brand new freestanding industrial buildings totaling nearly 36,500 square feet in the greater Phoenix submarket of Goodyear, Arizona.

The assets are part of the Palm Valley Crossing development, which was delivered earlier this year by Hopewell Development, according to Trevor McKendry and Chris Rogers, both Executive Vice Presidents based out of DAUM’s Phoenix office. McKendry and Rogers represented the buyer, a private investor, in this transaction.

“Even in the midst of the pandemic, investor demand and competition for quality industrial product in the Phoenix area remain high,” says McKendry. “Based on our close relationships and knowledge of what is happening in the local market, we’ve been able to secure prime assets, like these state-of-the-art buildings, for our clients.”

According to Rogers, the buildings are currently available for lease and are well positioned to attract tenants looking to expand into the greater Phoenix area.
“Less than 20 miles from the heart of Phoenix, Goodyear is an up-and-coming area where several Fortune 500 companies, including Amazon, Dick’s Sporting Goods, Microsoft, Nike, and UPS, have a presence,” says Rogers. “Even in these ever-changing times, investment in this growing submarket remains attractive. Tenants continue to seek out high quality industrial space offering convenient access to Interstate 10 and other major thoroughfares in the region, at a slightly lower price point than Phoenix proper.”

One of the fastest growing cities in the nation, Goodyear was recently ranked among the “Best Places to Live in America” by Money magazine, and has a 95% satisfaction rate among its citizens, notes McKendry.

Goodyear also offers incentives for premiere business looking to locate in the city and includes tax benefits from Foreign Trade Zones, Military Reuse Zones, Opportunity Z

 

ones and designated redevelopment areas.

The two properties include both warehouse and office space, and feature truckwells and grade level doors, PAD Zoning, fenced yards and 20’-8” clear height.
The buildings are located at 137th Avenue and Autodrive in Goodyear, Arizona and were purchased for a total consideration of $4.96 million.

Chris Rogers and Trevor McKendry also recently completed two transactions in Phoenix for a total of $4.7 million: the sale-leaseback of the building located at 23306 N. 15th Avenue in Phoenix, Arizonaand the lease of 1650 W. Parkside Lane in Phoenix, 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.

DAUM Commercial Real Estate Services has completed the lease of a brand new, state-of-the-art industrial facility totaling more than 112,000 square feet in the supply-constrained Rancho Dominguez submarket of Los Angeles County, California, on behalf of the developer and landlord, a partnership between Panattoni Development Company and M. Payne Investments.

The tenant, a multinational retail company, signed a nearly 11-year lease to occupy the entire property, according to DAUM Executive Vice President Anthony Bergeman, who represented the lessor alongside Resource One Real Estate and Development’s Joe Carroll.

“The South Bay area of Los Angeles County remains in high demand among industrial users due to its close proximity to major thoroughfares, providing convenient access throughout the entire L.A. Metro and greater Southern California region,” explains Bergeman, who notes that the tight Rancho Dominguez submarket is currently seeing vacancies hovering just above 2%. “While development opportunities are scarce, our Client was able to strategically bring a well-appointed distribution facility to market based on their deep connections and expertise. By leveraging our long-standing relationships and demonstrating the best-in-class status of this property, we were able to secure a premium price from a high-quality tenant within just XX days of completing construction.”

According to Bergeman, the retail company will utilize the facility for last-mile delivery of essential products.

Mark Payne, a Partner at Panattoni Development, adds: “We fitted this well-located distribution facility with the ideal amenities to serve today’s distribution needs, ultimately attracting a top-class tenant whose parent company is experiencing a historically high stock price, well-positioning them for successful operations at this location for several years to come.”

The property offers immediate access to the 110, 105, 405, and 91 freeways and close proximity to LAX and the Ports of Los Angeles and Long Beach.

Building features include 19 dock-high doors, three grade-level doors, a 184-foot truck court, 32-foot clear height, 3,600 square feet of modern creative office space, 20 extra trailer parking stalls, an ESFR sprinkler system, drive-through capabilities, and major frontage on three streets.

The property is located at 15100 South San Pedro Street in West Rancho Dominguez, California. The lessee in this lease transaction was represented by Ryan Sawyer and Chris Sheehan of Colliers International.

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 directed the acquisition of an industrial warehouse totaling more than 85,000 square feet in the South Bay submarket of Rancho Dominguez, Los Angeles County, California, on behalf of the buyer, First Industrial Realty Trust, and the seller, a cosmetic products manufacturer.

The buyer, a Chicago-based publicly traded real estate investment trust that owns and operates a national portfolio of industrial assets, plans to maximize the value of the property’s unmatched infill location by completing strategic redevelopment, according to DAUM Executive Vice President Andrew Lara, who completed the transaction alongside Executive Vice President Jordan Lara and Associate Natalie Lara.

“We immediately recognized that this building’s prime location was well aligned with the buyer’s investment strategy of focusing on the creation of long-term value within infill markets like the South Bay,” says Andrew, noting that the property was in high demand as one of the largest manufacturing buildings in Rancho Dominguez, a tight submarket experiencing sub-3% vacancy rates. “Through our deep industry relationships and extensive knowledge of the local market, we were able to bring this opportunity to the buyer and successfully demonstrate how the building complements the REIT’s existing Los Angeles-area footprint.”

According to Jordan Lara, the property’s close proximity to the 710, 91, 405 Freeways and Ports of Long Beach and Los Angeles opened up a significant value-add opportunity for the buyer.

“While this property, as built, is primarily suited to manufacturing and light distribution needs, we strategically determined that the future of this asset could be more of a robust distribution operation, based on its location in a booming logistics environment,” explains Jordan. “Ultimately, sourcing a buyer who could redevelop the asset to access its full potential and fulfill a huge demand in the market required specific real estate fundamentals to come together, making this a true win-win scenario for both parties involved.”

This redevelopment project, scheduled to be completed by Q3 2021, will be one of the largest underway in the South Bay, he also notes.

Natalie Lara adds that a crucial component to marketing the property, and ultimately securing a quality buyer and satisfactory price for the seller, was DAUM’s role in demonstrating a vision for this redevelopment.

“As part of strategically exploring redevelopment options, we consulted a well-known architect in Greater Los Angeles to render various value-add options to increase functionality and operational efficiencies to present to potential buyers, such as repositioning docks and increasing dock positions, the truck court turning radius, and truck and trailer parking,” says Natalie.

Existing building features include four docks, an additional short cab loading position, a new foil scrim roof, a fire protection system, and office space.

Andrew, Jordan, and Natalie, all based out of DAUM Commercial South Bay office, are members of The Lara Team, which has closed a total volume of $XX in transactions in 2020 thus far.

The asset was sold for a total consideration of $14.35 million. The property is located at 19400 and 19302 S. Laurel Park Road in Rancho Dominguez, 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 has completed the sale of a 130,392 square-foot industrial warehouse in the northern Los Angeles County submarket of Palmdale, California, on behalf of the seller, Sinclair Printing, according to DAUM’s Vice President Dennis Marciniak, who completed the sale along with Vice President Larry McEwan.

The buyer, California-based real estate firm Greenlaw Partners, has secured a major multinational technology company as a tenant to occupy the entire building.

“Our client was consolidating its commercial printing operations in the Los Angeles area and looking to quickly secure a premium price in order to liquidate the asset and focus on future growth,” says Marciniak. “Drawing upon our industry relationships and expertise in the market, we were able to garner several offers from industrial users and investors, presenting the seller with the opportunity to choose what was best for their business goals.”

McEwan notes that the property was in demand due to its positioning as one of the largest manufacturing buildings in the Antelope Valley, an extremely tight market seeing sub-2% industrial vacancy rates.

“Along with strong market fundamentals, this asset was attractive to potential buyers due to its location in a foreign-trading zone, which offers the incentive of reduced tariff burdens for owner-users and tenants,” McEwan continues. “In addition, we were able to leverage the fact that the buyer purchased a 26-acre lot adjacent to this property to negotiate and close this win-win deal for both parties.”

According to Marciniak, the building has a prime location within the Palmdale Trade and Commerce Center, in close proximity to many freeways including State Routes 14, 138, and 122, which provide convenient access throughout the region and to the ports of Los Angeles and Long Beach. The property is also a 10-minute commute from the Palmdale Regional Airport.

The asset, which was sold for $15 million, also exhibits unique features and functionality that add to its appeal, notes McEwan.

The property sits on 8.69 acres and includes ample warehouse space, 15,000 square feet of office, a conference room, and an overflow storage area. The building features 28’ clear height, four dock-high loading doors, and 100% refrigerated air.

The warehouse is located at 600 W. Technology Drive in Palmdale, 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 sale of a fully leased 57,300 square-foot, single-tenant industrial building in the Rancho Dominguez submarket of unincorporated Los Angeles County, California. The firm represented both the seller, Circle Industrial, and the buyer, Rexford Industrial, according to DAUM Executive Vice President Casey Mungo, who arranged the transaction.

“This was a true win-win scenario for both of the industrial real estate investment firms involved in this transaction,” says Mungo, noting high competition for industrial assets South/West Los Angeles submarket, demonstrated by vacancies consistently posting in the 2-percent-range. “We were able to secure an ideally located property for the buyer in one of the most desired industrial submarkets in Southern California, which is currently leased to a credit tenant. The seller was, in turn, able to secure a premium price based on this demand.”

Mungo notes that this property is a strong addition to Rexford Industrial’s portfolio, offering immediate cashflow. The asset was also attractive to the buyer because it sits on 3.5 acres of land, resulting in low site coverage of approximately 38%, allowing for ample trailer or material storage and flexibility down the line.

The seller initially purchased this property in 2014 as part of a portfolio, paying land cost for the asset.
Mungo explains: “With the continued tightening of the market, Circle Industrial decided now was the time to sell and strategically trade into a high-yield asset in Atlanta, Georgia.”

The property is located in a highly accessible location, in close proximity to several major freeways including Interstates 405, 710 and 110, providing unmatched access to the Port of Los Angeles and the Port of Long Beach.

The asset is located at 2757 E. Del Amo Boulevard in Rancho Dominguez, 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.