The Capital Markets Group of DAUM Commercial Real Estate Services, a leading provider of commercial real estate services including brokerage, tenant representation, consulting, leasing, sales, and property management, announces that it has negotiated lease renewals on behalf of three prominent real estate investment companies. The assets are located in Santa Monica, Harbor City and Los Angeles County, California. The total value for the combined lease transactions is more than $30 million.

“The industrial market in West and South Los Angeles continues to exhibit solid fundamentals. Demand for space increased during this last quarter, resulting in lower vacancy rates. With little new supply coming online, the demand imbalance enabled us to negotiate renewals with favorable terms for our clients,” comments Michael Collins, Vice Chairman, Capital Markets Group at DAUM Commercial. “As the L.A. leasing market is very competitive right now, helping our clients attract and retain the best tenants is our team’s number one priority.”

The three transactions DAUM Commercial facilitated on behalf of its clients include:

• A renewal of Lunada Bay Tile’s occupancy of a 96,000 square-foot warehouse owned by Rexford Industrial, a Los Angeles-based industrial-focused REIT. The new lease commences in Q2 2025. The building is located at 240th Street in Harbor City, California. Michael Collins represented Rexford in the renewal negotiation, and Jim D’Anglo of JD Investments represented Malaga Tile.

• The extension of California Supply’s occupancy of a 108,000 square-foot distribution building owned by Hager Pacific Properties, a Newport Beach-headquartered commercial real estate investment firm. The lease commences July 2025. The building is located at 132nd Street and S. Broadway in Los Angeles County.  Collins and Dustin Hullinger, Associate Vice President, Capital Markets Group at DAUM Commercial, represented both parties in the transaction.

• The renewal of Tesla’s lease at an 82,000 square-foot industrial property owned by Thompson Properties, a Culver City-headquartered real estate investor. The new lease commences January 2026 and extends Tesla’s occupancy at the well-located westside facility, which houses the tenant’s local service center. The property is located at 1100 Colorado Boulevard in Santa Monica, California. David Freitag, Executive Vice President and Los Angeles Branch manager at DAUM Commercial, assisted Collins in representing Thompson. Xan Saks, partner and Co-Founder at Beta, represented Tesla in the negotiation.

According to DAUM Commercial’s Q1 2025, Industrial Market Report for West and South Los Angeles, direct vacancies in this tight submarket dropped to nearly 5%, with net absorption of 651,390 square feet and gross absorption of 3.5 million square feet of space. Total square feet under construction dropped to 1.6 million square feet during the quarter.

“DAUM strengths are our deep local knowledge of the Southern California market, and its creativity in this competitive environment,” notes Collins. “These successful negotiations demonstrate our commitment to helping our investment clients capitalize on market opportunities and position them for long-term success.”

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