No Comments

Spin-Off Success

Photographer: Thomas Wasper at The San Fernando Valley Business Journal

By Michael Aushenker Staff Reporter at The San Fernando Valley Business Journal

BROKERAGE: From NAI Capital to his own firm, Yair Haimoff has become a force in industrial real estate.

Amid the many success stories in the Valley region’s real estate industry, the career trajectory of Yair Haimoff stands out.

Not yet 50, Haimoff is the founder and executive managing director of Spectrum CRE ™, a commercial brokerage and property management firm that specializes in the San Fernando Valley and Santa Clarita submarkets.

Prior to launching his Valencia-based firm, Haimoff was one of NAI Capital’s top producing brokers and branch manager of the LA North office located in Valencia. During his 15-year NAI tenure, he recruited, trained and mentored several agents, forming one of NAI’s top producing teams.

2018 proved the turning point of Haimoff’s career, when he left NAI Capital and founded Spectrum. The company currently has two main offices in Valencia and Woodland Hills, with satellite offices in Encino and Century City. Haimoff’s company employs 20 people total.

“It was definitely a difficult decision,” said Haimoff in reference to his decision to go solo.

” A couple of major items that I needed to consider prior to making the move were the responsibility that I have to my family and the other is making a move after being with a company for so many years. I also had another obstacle – my father was going through cancer treatments and ultimately passed away as I was just making the transition.”

One person who understands the difficulty  Haimoff faced in leaving an established brokerage is Newmark Knight Frank Executive Managing Director John DeGrinis. A year ago he and fellow industrial brokers Patrick DeRoss and Jeff Abraham jumped agencies from Colliers International to Newmark Knight Frank in Warner Center.

“It’s difficult to make a transition,” DeGrinis said. “Commissions and things that are contractual with an option, so that deals stay with the original firm. It is a little more cumbersome.”

DeGrinis was with Colliers for 33 years. “When you give them notice that you’re leaving, there’s no longer that intimate relationship,” he said. “You’re now on the outside looking in. … Changes is always disruptive but, a lot of times, it is good because you reinvent itself.”

Unusual deals

During its first year, Spectrum CRE ™ helped broker a $20 million portfolio sale of properties in Van Nuys and now Haimoff is negotiating to sell a different portfolio with seven components to it.

“We are going to have plenty of product coming up,” he said. “We will see a new evolution.”

One challenge for Haimoff’s young company is adapting to changing market conditions in real-time. For example, one of Spectrum’s splashiest deals closed in November, Northridge Medical Center, a two-story, 30,353-square-foot building at 18433 Roscoe Blvd., was sold for $12 million. As the structure was right across from Dignity Health,

“We ended up selling it to an owner/user,” Haimoff said, adding that “when a property lists for $10 million or more, it’s rare to find an owner/user. But that was because there were no available buildings.”

Northridge building that sold
Northridge: Haimoff sold for $12 million

Another unusual Spectrum CRE ™ deal closed last May for client Smokebuddy – a Pacoima-based manufacturer of a device that kills the odor of cannabis. In this case, Haimoff had to convince the client on the best strategy.

“The inventor wanted to lease more space,” Haimoff said. “I said, ‘Why don’t you just buy the property?'”

He knew finding a property for the business would present extreme challenges. But he unearthed a 23,000-square-foot building at 11662 Tuxford St. in Sun Valley, which Smokebuddy’s creator purchased for $2.25 million. The company occupies just under half of the space alongside seven other tenants.

And last April, Haimoff found Agoura Hills-based Wildflour Bakery and Café its desired auxiliary kitchen space at 21160 Califa St. in Woodland Hills. Wildflour bakes challah bread for outlets such as Trader Joe’s and Costco and specialty bread for The Habit, Hook Burger and other regional chains.

Wildflour Bakery at 21160 Califa St
Woodland Hills: Haimoff brokered the lease for Wildflour Bakery at 21160 Califa St.

Valley roots

Haimoff was born to his father, of Russian ancestry, and mother, of Kurdish heritage, in Israel. His father served in the Israeli military for more than 30 years, eventually retiring as a lieutenant colonel. Upon his retirement, he decided to relocate his family to the United States. At age 13, Haimoff moved to Woodland Hills in 1989.

Haimoff attended Hale Junior High and El Camino High School. He had to overcome a number of culture shock aspects from the transition, including learning to speak English.

“You would never have felt that Woodland Hills would be the downtown of the Valley.” he said. “I remember riding my bicycle through all of these industrial buildings that we handle now.”

Upon high school graduation in 1994, Haimoff attended Pierce College in Woodland Hills and Moorpark College in Moorpark before transferring over to California State University – Northridge, where he earned his bachelor’s in criminal justice.

The award-winning realtor began his career in the commercial real estate industry with NAI Capital in 2002 as what he said the firm’s first-ever intern. Later, investment broker Barry Rothstein presented Haimoff with an opportunity to become his assistant.

“Barry was the first to hire me within NAI Capital,” Haimoff said.

“His timing couldn’t have been better because at the time, computers were just beginning to become necessary tools for brokers,” Bob Scullin, former chief executive and part-owner of NAI Capital, told the Business Journal. “He, being a young guy, had the expertise to use and understand the technology. … Eventually, he became indispensable.”

In 2003, Yair acquired a position as an assistant to the investment team, where he worked on large-scale projects, including the sale of one of the largest shopping centers in the city of Santa Clarita, California.

“We closed one of the largest deals in Valencia (circa 2004) for $70 million – it was the shopping center at McBean and Magic Mountain Parkway,” Haimoff said.

As an assistant to Rothstein, Haimoff honed his skills on everything from preparing the deal memorandum to marketing and brass tacks.

“It was a good experience,” he said. “I learned every aspect of the industry. That was pretty much my introduction into industrial real estate.”

In 2015, Haimoff was appointed executive managing director and branch manager of NAI Capital’s LA North/Valencia Office, where he multiplied the branch’s personnel from four to 18 brokers and turned his office into one of his company’s highest performers. In that setting, he developed the management skills that launched Spectrum in 2018.

Unfortunately, 2018 also marked the year that Haimoff’s father died of cancer. However, one of Haimoff’s five brothers, Isaac Haimoff, works for him at Spectrum as a senior vice president.

Shawn Evenhaim, chief executive of Canoga Park-Headquartered developer California Home Builders, bought a Woodland Hills property that was brokered by Haimoff in 2018. It will become the site of the Q on Califa.

Evenhaim told the Business Journal that he had a very positive experience acquiring the property at 21300 W. Califa St. For now, In His Presence church occupies the site but when its lease expires the land will become apartments.

“Yair is a very professional and knowledgeable broker and we enjoy working with him and look forward to work with him again in the future,” Evenhaim said.

No Comments

Coldwell Banker Leases New Location in Valencia

Tourney Place at 27451 Tourney Road in Valencia.

Coldwell Banker Leases New Location in Valencia

Coldwell Banker Quality Properties has leased 3,250 square feet of second-floor office space in Valencia.

According to sources close to the deal, Coldwell Banker signed a five-year lease pitched in the mid-to-high $2 per square foot range.

Tourney Place, the Valencia property located at 27451 Tourney Road, is situated within the Tourney Place Business Park and surrounded by amenities. The 20,731-square-foot office building sits on just over an acre of land. Additional businesses include Valencia Commercial Properties, Pathway Escrow, Multi-State Insurance Services, and Jane M. Szerman Law.

Spectrum CRE ™ founder Yair Haimoff and agent Randy Cude represented both owner My Three Sons LLC and Coldwell in the deal.

“Coldwell Banker QP was looking to relocate their local Santa Clarita office,” Cude said in a statement. “They looked at multiple sites and decided to move forward on this building due to its location, high-image and prominent building signage. The ownership and property management were proactive and motivated to get the deal signed. We feel that this is an excellent location for the new home of Coldwell Banker Quality Properties.”

No Comments

Moving Company Signs Chatsworth Warehouse Lease

Moving Company Signs Chatsworth Warehouse Lease

Air 1 Moving & Storage has signed a lease for a freestanding industrial facility in Chatsworth.

The warehouse, located at 9556 Cozycroft Ave., spans about 21,600 square feet and is situated on a large parcel. A source with knowledge of the deal said the lease rate would start at $1 per square foot. The five-year lease’s total value is about $1.4 million.

The property includes docks, ground loading, and ample power.

Yair Haimoff and Barry Jakov, commercial real estate brokers with Spectrum CRE ™, Inc., represented the company in the transaction.

“Air 1 Moving & Storage occupied space in North Hollywood for over 20 years and needed additional space for growth,” Jakov said in a statement. “Our client was on a short time frame and needed to locate a new facility within 30 days.”

Based in Valencia, Spectrum CRE ™. was founded in 2018.

No Comments

Northridge Medical Building Sells for Roughly $12 Million

A multi-tenant medical office building in Northridge has sold for an undisclosed price that — according to a source close to the deal —approaches $12 million.

Northridge Medical Center, located at 18433 Roscoe Blvd., is comprised of various professional medical tenants and sits across the street from Dignity Health’s Northridge Hospital Medical Center, a 409-bed facility.

Built-in 1977, the 30,353-square-foot Northridge Medical Center counts among its 14 tenants HealthCare Partners of California, Valley Clinical Trials Inc., Oncology Institute of Hope and Innovation, Northridge Dentalworks and Active Life, according to CoStar data.

Yair Haimoff and Matt Sreden, commercial real estate brokers with Spectrum CRE ™, represented both the buyer and seller

“Once we put this great asset on the market, we generated a tremendous amount of activity,” Haimoff said in a statement. “We had multiple offers from private investors to regional and larger investment groups. The asset was ultimately sold to the highest bidder.”

No Comments

Spectrum CRE ™. Represented the Buyer in the Sale of a Leased Investment in Burbank

September 4, 2019 – Yair Haimoff, SIOR, commercial real estate advisor and founder of Spectrum CRE ™, is pleased to have represented the Buyer in the sale of leased investment in Burbank.

Commercial Building in Burbank, California

The property, an approximately 11,711 SF commercial building is located at 1110 S. Victory Boulevard in Burbank, California, is situated minutes from the 5 and 134 freeways. The property recently underwent major renovations. The building is leased to CityLights Baptist Church through 2034 and features offices, a sanctuary, a music studio, and a cafeteria.

The Seller was under a time crunch and needed to sell the property quickly. Spectrum CRE ™ was able to find a buyer that offered a very appealing short contingency, all-cash offer with a quick close. The property sold for $2.5 million.

No Comments

Sun Valley Warehouse Sells for $2 Million

Industrial property has sold for $2.06 million, or $339 a square foot.

Spectrum CRE ™ represented both seller and buyer in the sale of the multi-tenant building. Spectrum Vice President Matt Sreden represented the seller in the transaction, while Senior Associate Barry Jakov and Executive Managing Director Yair Haimoff represented the buyer.

Industrial Property in San Valley, California

The industrial building at 11841 Sheldon Street has easy access to the 5, 210 and 118 freeways. The structure, which sits on a 22,223 square foot lot and consists of one building with five units ranging from 870 to 1,828 square feet, totals approximately 6,080 square feet. It features five ground level loading doors and has a gated lot.

Spectrum CRE ™, founded in 2018 and headquartered in Valencia, is a full service commercial real estate firm.

No Comments

Spectrum CRE ™ locks in three transactions for industrial, retail, office space

Spectrum CRE ™ locks in three transactions for industrial, retail, office space.

Spectrum CRE ™, announced Wednesday its completion of three transactions for office, industrial and retail space in Santa Clarita, totaling at nearly $5 million.

Yair Haimoff, commercial real estate advisor and Spectrum CRE ™ founder, and his team represented the buyers in the transactions and the seller in one of the business deals, according to a news release by Spectrum CRE ™.

Retail

For $1.2 million, investor and developer HIG LLC purchased a property currently occupied by Sandcastles Childcare Center from seller Bethlehem Lutheran Church.

The property is comprised of a 3,120-square-foot, freestanding commercial building located within a nearly 30,000-square-foot commercial-zoned parcel at 27303 Luther Drive.

The property was purchased as an investment hold and future development, the release read.

Office

Spectrum CRE ™ represented HWF Investment Group LLC, in the purchase of a Class A building of about 5,000 square feet for $1.5 million.

The property is located within the Centre Pointe Business Park on 26531-26535 Summit Circle. HWF Investment Group intends to use the space for its corporate headquarters, Spectrum CRE said in the release.

Industrial

Aerospace manufacturer NaKi LLC closed in on a purchase for a more than 10,000-square foot, free-standing industrial building in Valencia for $2.2 million.

Spectrum CRE ™ officials said the buyer plans to relocate from Santa Fe Springs and occupy the property, which is situated on a business park at 24930 Avenue Tibbitts.

“This was a challenging purchase as there is (an) extremely limited supply of this product and buyer had to compete with three other offers,” the release read.

No Comments

Bakery Leases New Headquarters at Warner Center

Bakery Leases New Headquarters at Warner Center

An upscale baked goods producer and café have signed a 15,757-square-foot deal on a Warner Center facility that will become the company’s new manufacturing space.

Spectrum CRE ™, leader Yair Haimoff represented tenant Wildflour Bakery & Café and Lessor 26 Califa LLC. in the industrial/office complex lease.

The property, located at 21160 Califa St. in Woodland Hills, will be utilized by Wildflour Bakery & Café of Agoura Hills as its new baking facility while the Conejo Valley company retains its café in Agoura Hills.

Owned by Gregory Yulish, Wildflour produces and delivers baked goods directly to big-box retailers and restaurants nationwide. The company will move into the Warner Center space during the third quarter.

Founded in 2018 by Haimoff, Spectrum CRE ™ is a full-service commercial real estate firm in Valencia.

No Comments

Multi-Tenant Retail Lot in Newhall Sold

Multi-Tenant Retail Lot in Newhall Sold

Yair Haimoff, SIOR, and Andrew Ghassemi, commercial real estate advisors with Spectrum CRE ™, are pleased to have represented the buyer in the sale of a +/- 6,297 square foot multi-tenant retail property in Newhall.

This was an all-cash transaction. The amount was not disclosed. The property is located at 25057-25067 Peachland Ave., in Newhall, 91321, within the Santa Clarita submarket. It is situated on a 23,087 square foot parcel and is part of a larger shopping center anchored by Smart & Final, Union Bank, and the US Postal Service.

This multi-tenant property is situated within the Corridor Plan (CP) zoning area, designated by the city of Santa Clarita. The CP zoning designation identifies lands in the planning area that are governed by an adopted corridor plan. This coupled with new developments currently in progress provides the new owner(s) with tremendous upside in terms of future opportunities. Call brokers for more information.

 

About Spectrum CRE ™.

Spectrum CRE ™, founded in 2018 and headquartered in Valencia, California, is a full service commercial real estate firm that offers clients personalized service, local knowledge and a fresh pioneering approach to brokerage services. The firm’s full spectrum of services includes tenant and landlord rep, leasing, sales (owner-user and investments), 1031 exchange buyer representation, national single-tenant investment sales and acquisitions, net lease investments, build-to-suit developments, debt/equity, and providing clients with exceptional brokerage services. For more information, visit www.Spectrumcre.com.

No Comments

Kaiser Permanente Renews Lease in Valencia

Valencia Executive Plaza at 27201 Tourney Road in Valencia.

Kaiser Permanente Renews Lease in Valencia

Kaiser Permanente has renewed its lease for nearly 11,000 square feet of medical space in Valencia.

Located at 27201 Tourney Road, the property known as Valencia Executive Plaza sits within the Valencia Corporate Center. The office building has undergone recent renovations and features extensive views of the golf course at Valencia Country Club.

Spectrum Commercial Real Estate, Inc., in Encino represented the building’s owner, Valencia Executive Plaza LLC of Valencia, in the 10,934-square-foot deal.

Financial details of the transaction were not disclosed.

“This was a high-profile transaction that required attention, patience, and detail to take to the finish line,” said Spectrum Commercial Real Estate Vice President Matt Sreden, who represented the landlord along with Spectrum broker Andrew Ghassemi and Spectrum founder Yair Haimoff.

According to Spectrum CRE ™, the lease represents one of the largest medical transactions in the Santa Clarita Valley submarket since the second quarter of 2016.