No Comments

Spectrum Commercial Real Estate Just Sold 13,325 SF Industrial Complex in North Hollywood

7129-33 Vineland, North Hollywood

North Hollywood, CA – May 7, 2021 – Yair Haimoff, SIOR, and Barry Jakov with Spectrum Commercial Real Estate, Inc., are pleased to announce the recent sale of an industrial complex located in North Hollywood, CA.

Haimoff and Jakov represented the seller. The buyer is an owner/user.

The property is located at 7129-7133 Vineland Avenue in North Hollywood, CA, near the corner of Sherman Way and Vineland Avenue. This site is in a prime North Hollywood location, across the street from a host of amenities and the Hollywood Burbank Airport. It is minutes from Home Depot, a Costco Business Center and a FedEx Ship Center, and it offers easy access to the 170, 134 and 5 freeways.

The industrial complex is comprised of two commercial buildings that make up 13,325 sq. ft. together, with one building at 3,800 sq. ft. and the second building at 9,525 sq. ft. The complex accommodates 7 separate units. The property is situated on an approximately 29,981-square-foot, M2-zoned parcel. The buildings were renovated in 2019, and they feature functional warehouse space, ample power, 7 grade level doors, ample parking and good warehouse clearance.

Haimoff and Jakov received multiple full price offers for the property, showing that interest in multi-tenant properties in the San Fernando Valley has remained strong despite the pandemic. The property ultimately went to the highest bidder, who paid over the asking price.

The industrial complex sold for $3,400,000.

Call broker for more information.

About Spectrum Commercial Real Estate, Inc.

Spectrum Commercial Real Estate Inc., founded in 2018 and headquartered in Valencia and Woodland Hills, California, is a full service commercial real estate firm that offers clients personalized service, local knowledge and a 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

Spectrum Commercial Real Estate Just Leased a Drive-Thru Restaurant Property in Azusa

Drive-Thru Restaurant Property in Azusa

Azusa, CA – April 15, 2021 – Yair Haimoff, SIOR, Executive Managing Director with Spectrum Commercial Real Estate, Inc., is pleased to announce the recent lease with option to purchase of a drive-thru restaurant located in Azusa, CA.

Haimoff represented the tenant/buyer, Tacos El Superior, Inc. The transaction was a long-term lease with an option to purchase. The buyer exercised their right to purchase immediately after signing the lease agreement.

The property is located at 700 East Alosta Avenue in Azusa, CA, on the corner of Rockvale Avenue and East Alosta Avenue/West Historic Route 66. This site is in a prime Azusa location, within minutes from Azusa Pacific University and Citrus College. It also provides easy access to the 210 freeway.

The drive-thru restaurant is 2,499 sq. ft. on approximately 19,561 sq. ft. of C3 zoned parcel. This is one of the only two drive-thru restaurants that have 24-hour permits.

Spectrum Commercial Real Estate, Inc., represents Tacos El Superior for its expansion needs. Haimoff said of the deal, “We had been looking for facilities in Los Angeles, Ventura and Orange counties. I reached out to different owners and eventually found this particular site. The ownership had other interest on the site, so we needed to act very quickly to secure it.”

The property sold for $2,000,000.

Call broker for more information.

About Spectrum Commercial Real Estate, Inc.

Spectrum Commercial Real Estate Inc., founded in 2018 and headquartered in Valencia and Woodland Hills, California, is a full service commercial real estate firm that offers clients personalized service, local knowledge and a 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

Spectrum Commercial Real Estate Just Sold 12,310 SF Commercial Building in Northridge

two-story commercial building located in Northridge, CA

Northridge, CA – April 6, 2021 – Yair Haimoff, SIOR, Executive Managing Director with Spectrum Commercial Real Estate, Inc., is pleased to announce the recent off-market sale of a 12,310 sq. ft. two-story commercial building located in Northridge, CA. This sale signals the continued growth of the commercial sector within the San Fernando Valley region despite the COVID-19 pandemic.

Haimoff represented the seller. The buyer is an owner/user and obtained SBA financing.

The property is located at 8624-8628 Reseda Boulevard in Northridge, CA, on the corner of Reseda Boulevard and Bryant Street, a block south of Parthenia Street. This location is a prime Northridge location, within minutes from CSUN, Northridge Hospital Medical Center and Westfield Northridge Fashion Center. It also provides easy access to the 118, 405 and 101 freeways.

The two-story commercial building is 12,310 sq. ft. on approximately 18,378 sq. ft. of C2 zoned parcel. The newly renovated building consists of three ground floor units that range between 1,700 sq. ft. to 5,950 sq. ft. and ten second floor units that range from 400 sq. ft. to 2,000 sq. ft. The buyer will occupy the entire ground floor space for its intended use and retain all of the tenants on the second floor.

The seller originally purchased the property as a long-term investment and had conducted renovations. Haimoff said of the sale, “During the renovation process, we were approached by a medical user who really liked the progress of the renovations and the property’s close proximity to the Northridge Hospital Medical Center. After extensive negotiations, the buyer and seller came to an agreement, and we opened escrow.”

The property sold for $3,450,000.

Spectrum Commercial Real Estate, Inc., also serves as the property management.

Call broker for more information.

About Spectrum Commercial Real Estate, Inc.

Spectrum Commercial Real Estate Inc., founded in 2018 and headquartered in Valencia and Woodland Hills, California, is a full service commercial real estate firm that offers clients personalized service, local knowledge and a 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

Spectrum Commercial Real Estate Just Sold 23,817 SF Professional Office Building in Valencia

25050 Avenue Kearny in Valencia, CA

Valencia, CA – April 6, 2021 – Yair Haimoff, SIOR, Randy Cude and Matt Sreden, commercial real estate advisors with Spectrum Commercial Real Estate, Inc., are pleased to have represented the seller in the sale of a +/- 23,817 SF professional office building in a prime Valencia location.

The property is located at 25050 Avenue Kearny in Valencia, CA, within the prestigious Valencia Industrial Center, on the corner of Avenue Scott and Avenue Kearny. The building is comprised of thirty (30) professional office suites occupied by a mixture of short- and long-term tenants. The efficiently sized office suites range in size from 378 square feet to 1,864 square feet.

The surroundings of the property include professional office and industrial buildings as well as retail centers. It is within minutes from Valencia Town Center amenities, restaurants, fitness centers, daycare centers, golf courses, the Hyatt Hotel and Conference Center and the new Newhall Ranch Development (20,000 +/- residential units), and it is easily accessible to I-5, SR-14 and SR-126.

The property sold for $6,000,000.

Call brokers for more information.

About Spectrum Commercial Real Estate, Inc.

Spectrum Commercial Real Estate Inc., 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 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

How commercial markets are evolving

How commercial markets are evolving

The 1.3-million-square-foot IAC Commerce Center is set to consist of seven industrial buildings on 116 acres. The demands for how space will be used are evolving rapidly with the modern business environment, but there’s still a growing need in the Santa Clarita Valley, according to local experts on the market. PHOTO Courtesy Newmark Knight Frank

How commercial markets are evolving

The Signal | Emily Alvarenga

As COVID-19 figures continue to decline and public health restrictions are relaxed, more and more businesses are getting the green light to reopen.

In the Santa Clarita Valley, the industrial sector remains very strong with an extremely low vacancy rate, while it’s been the retail sector that has suffered most, according to commercial Realtors who are experts in the local and regional markets.

“Despite the pandemic and shutdowns, the industrial market is very strong with demand from e-commerce, entertainment and aerospace/defense leading the way,” said Craig Peters, executive vice president of CBRE.  “Keep in mind that most industrial companies are considered essential and continued to work during the shutdowns. Market vacancy has dropped to 1% over the past 12 months and lease rates and sale prices have jumped up.”

While there may be new strategies that lead to changes, such as more amenities, or even adjusted operations, there’s still a need for commercial space, according to Yair Haimoff, executive managing director at Spectrum Commercial Real Estate Inc.

 “However, the general office users have minimized their operations, and some to all employees are still working remotely leaving their offices partially to fully empty,” Haimoff said. “Entertainment, personal care, fitness and restaurants with large dining halls suffered the most, while drive-thru restaurants flourished during the pandemic, (and) it will be a while for these industries to recover as they are still under the toughest restrictions.”

As more businesses look to reopen and some even look to open new businesses, local commercial realtors and even city officials agree that it’s vital to take the necessary steps in finding the right space for your business.

“Two of the most important items in choosing a business location are finding a spot where your customers will come, and making sure the property is zoned right for your business,” said Jason Crawford, the city of Santa Clarita’s planning, marketing and economic development manager.

While vacancy rates in the SCV are still relatively low, Haimoff and Peters agree that those rates may rise once the eviction moratorium expires.

Choosing the right space

“Our key recommendation for clients today is to start the process early,” Peters said. “Talk to your broker and understand the steps necessary to make a move and the associated timing. Many companies start too late and then are forced to renew in place even though that may not be the best solution.”

For most businesses, this process can be expedited; the site-selection process should take about six months from the time the prospect determines what they need to finalizing the lease or purchase, according to Haimoff.

These steps include:

  • Analyzing the prospects needs, including geographic needs.
  • Identifying and evaluating prospective sites, with tours of selected sites.
  • Going through the proposal process – either by sending a standard proposal or sending a request for proposal, the latter of which has seen an increase and could be a great negotiation tool, according to Haimoff.
  • Space planning.
  • Economic analysis.
  • Negotiating the lease or purchase terms.
  • Construction improvements.
  • Move in.
  • Determining if the landlord obligations (in case of a lease) were met.
040121_BIZSPACES_DW_04-800x532-2
Managing Partner Joseph Huang walks through the largest, 5,500-square-foot office space on the ground floor at Sierra Crest Center in Canyon Country. PHOTO BY DAN WATSON / THE SIGNAL

 

“It is very important that tenants and buyers follow the steps to ensure their long-term goals are met,” Haimoff added. “Once a business owner determines their needs and their geographic area, they should reach out to a local experienced commercial real estate professional (who) should have the right tools to expedite the search, have local knowledge and the experience to provide guidance and negotiate a great deal for them.”

Peters agreed, adding, “Make sure you have a competent broker that understands the market dynamics and your needs and can help you successfully execute on the assignment.”

The city offers a Guide to Small Business, which not only has tips about choosing the right business space, but also offers a step-by-step guide getting your business up and running, with tips for lease agreements, permitting and licensing, zoning and more.

Similarly, the SCV Economic Development Corp.’s Site Selection Tool provides a resource for individuals looking for available commercial space.

Whether it’s retail, office, or industrial space, the tool offers information on what facilities are available for lease and sale now and provides a list of development projects in progress that can help business owners plan their business growth.

The city’s Guide to Small Business suggests business owners consider the following when choosing a location:

  • Be sure that the location is properly zoned for your business type. If you find a location that is not zoned for your specific use you may need to apply for a Minor Use Permit or a Conditional Use Permit that will be reviewed by city staff or the city’s Planning Commission to determine if your business is suitable for the location.
  • Be sure that the construction of your business is appropriate for your intended use (e.g. a building constructed as a warehouse might not be suitable for businesses with certain occupancies, such as a day care or restaurant).
  • Evaluate any potential Covenants, Conditions and Restrictions, or CC&R’s, for the location.
  • Pick a location that is convenient for you and your potential customers.
  • Identify your target market.
  • Understand your community and how your business fits in.
  • Identify and locate potential competitors.
  • Consider the size and cost of the commercial space.
  • Inquire about future-planned development in the area.

Why Santa Clarita?

“The SCV is a very business friendly environment with both the city and the county being very proactive to attract business and streamline the process,” Peters said.

These commercial realtors agree that doing business in the Santa Clarita Valley provides businesses with a great location, close to Los Angeles and along Interstate 5 and Highway 14.

“The city of Santa Clarita has great leadership,” Haimoff said, adding that while other cities and counties had their offices closed, Santa Clarita was able to continue operations. “Having City Hall open was great for business. Building permits were issued without long delays. Additionally, large industrial users who were looking for newer state-of-the-art facilities were able to find product in the SCV as construction did not stop.”

Holly Schroeder, SCVEDC CEO and president, agreed, adding, “The new developments in the pipeline should really help the Santa Clarita Valley come out of this recession. … Industrial construction is still underway, and despite the uncertainty of the economy, there’s a really strong demand for it and we’re seeing a lot of interest in it.”

For more information, visit bit.ly/SCVSmallBizGuide or bit.ly/SCVEDCSiteSectionTool.

No Comments

Airport Adjacent

Airport Adjacent

Properties near Valley airfields command premium prices.

SFVBJ Digital Edition | By Michael Aushenker Staff Reporter

The San Fernando Valley’s industrial real estate market has flourished during the coronavirus pandemic – especially for properties near airports.

While the Valley’s two major airfields, Hollywood Burbank Airport and Van Nuys Airport, have seen numerous industrial deals in their environs, two epitomize the trend. Overton Moore Properties and Article rank 1 Feb 2021 SFVBJ Digital Edition By MICHAEL AUSHENKER Staff Reporter PHOTOS BY THOMAS WASPER Invesco Real Estate’s Avion Burbank development on 60 acres will add 18 buildings with 1.25 million square feet to the East Valley’s inventory. And Rexford Industrial Realty Inc. purchased a 19-building portfolio in Van Nuys for nearly $155 million.

“There is unprecedented demand for class A industrial space driven by large entertainment and content firms and their supply chains,” said Matt Hargrove of CBRE Group, the leasing agent for Avion Burbank.

“The market is really hungry for this type of smart, integrated facility solution.”

In a year when aviation took a dramatic nosedive, real estate surrounding San Fernando Valley airports received high interest from investors and property managers during 2020. The Valley’s major airfields, Hollywood Burbank Airport and Van Nuys Airport, have seen numerous industrial deals in the immediate environs. However, two deals stand out because of sheer size – the construction of the Avion Burbank development and Rexford Industrial Realty Inc.’ s purchase of a portfolio in Van Nuys.

Burbank’s new inventory

Developed by Overton Moore Properties and Invesco Real Estate, Avion Burbank officially broke ground in October 2019. The mixed-use business park will include 18 buildings with 1.25 million square feet of creative industrial, creative office and retail space along with a 150-room hotel. Development of the project advanced after Overton Moore purchased the property in 2016 from the Burbank-Glendale-Pasadena Airport Authority and received approval from Burbank City Council in 2019.

Located on 60 acres at the intersection of Hollywood Way and San Fernando Road, Avion Burbank is surrounded by multiple transit options in addition to the airport, such as a Metrolink stop, multiple bus lines and freeway access.

The developers also plan to abide by environmentally friendly green rules. Avion Burbank will be LEED-certified property with 115 level 2 electric vehicle chargers plus room to add 62 parking stalls and truck loading docks for future EV chargers.

“Avion Burbank will offer users a unique environment that incorporates state-of-the-art buildings situated in an interactive work-life environment,” said Overton Moore Chief Executive Timur Tecimer in a statement at the time of the ground-breaking. “This innovative campus will assist companies in recruiting and retaining the best talent.” Added Matt Hargrove, vice chairman of CBRE, the brokerage leasing out the spaces at Avion: “The market is really hungry for this type of smart, integrated facility solution. … There is unprecedented demand for class A industrial space driven by large entertainment and content firms and their supply chains. The creative office product which is for sale or lease will provide owner-users with a unique opportunity to create a design-to-suit office experience all within a multi-modal master planned setting. With its scale and variety, we see a huge opportunity for Avion Burbank.”

Van Nuys value

In what Newmark broker John DeGrinis believes was the biggest North Los Angeles industrial acquisition of 2020 – closing right in December – Rexford Industrial paid nearly $155 million, or $325 per square foot, in cash for a 19-building, 24.3-acre industrial portfolio totaling nearly 500,000 square feet in Van Nuys.

DeGrinis’ Newmark team represented both buyer and seller in the deal for Van Nuys Airport Industrial Center property, which is located near Van Nuys Airport, one of the country’s busiest private airfields. The land has been under generational ownership in a family since the early 1900s.

DeGrinis shared with the Business Journal why the owners finally unloaded these assets. “The heirs of this property reached a point in which the managers decided that this was the right time to sell,” DeGrinis said. “Value reaches the right scenario, and you move on.”

The buyer of this portfolio is no surprise – Rexford has been an aggressive investor in local industrial real estate in recent years, making major investments in markets such as Simi Valley and Thousand Oaks. Rexford also recently purchased a 200,000-squarefoot structure in Sylmar.

“Rexford will continue the business plan to drive rents and create value.” DeGrinis said.

Hollywood Burbank Airport’s location in Burbank – where the largest entertainment studios and media companies have their headquarters – makes the area ideal for businesspeople as well as investors.

The airport itself has construction plans. It plans to replace the aging 14-gate terminal dating back to 1930 – before seismic safety rules – with a new 355,000-square-foot terminal, as well as a multilevel parking structure to accommodate 6,600 vehicles.

Pre-pandemic, Hollywood Burbank Airport reported nearly 6 million passengers. Southwest Airlines is the largest carrier with the most flights.

“People will choose that over LAX,” DeGrinis said, referring to the compact and convenient Hollywood Burbank Airport, the Valley’s only commercial airfield.

Eager tenants, buyers

Multiple brokers confirmed to the Business Journal that Amazon.com Inc. will occupy 700,000 square feet at four buildings in the Avion Burbank business park once construction is finished.

Office broker William Boyd, based out of Kidder Mathews’ Pasadena office, said that the Avion industrial project has turned into a synergy driving demand around the Hollywood Burbank Airport.

“It is helping to accelerate interest in the airport district because of land constrictions in (Burbank) Media District,” Boyd continued. “The market is looking more seriously at the airport area.”

And there is still more “runway,” so to speak, in the Hollywood Burbank Airport circumference. “There is a voracious appetite for that space,” Boyd said. “It’s no longer conjecture. We’re actually seeing it happen.”’

Simultaneously, as a light appears at the end of the long coronavirus tunnel with multiple vaccinations being distributed worldwide, pent-up demand for space devoted to entertainment production will most likely explode once the virus has been subdued, both Boyd and DeGrinis said.

“Entertainment has kind of thawed a little bit,” DeGrinis said, pointing to recent deals involving L.A. North Studios and Needham Ranch in Santa Clarita. “More of those types that are stepping up. All we hear about is the need for more content.”

DeGrinis said that there is practically a profile for the type of owner of airport-adjacent properties in the Valley. They are long-time legacy landlords, often family-run businesses. The broker said that as these owners age out of business, “it matches up very well with the capital dying to buy.” These investors “will pay top dollar for those assets. … They’re going to scrape it and build a new one,” he added.

However, in the case of the 19-building portfolio, DeGrinis continued, there are no plans for redevelopment because these class B buildings – built in the 1960s and 1970s – “were built in a manner that they were sort of timeless,” DeGrinis explained. “These buildings lease for big numbers.”

As an example, DeGrinis cited a building near L.A. County-operated Whiteman Airport, the Valley’s third airfield in Pacoima. The warehouse with 123,974 square feet at 12154 Montague St. will lease for $1.08 per square foot in June.

That in keeping with the average of $1.10 a square foot in the East San Fernando Valley, according to data from Colliers International, but significantly higher than the 94-cent average for the entire San Fernando Valley.

The buildings in the Rexford portfolio were 98 percent occupied by service-related companies such as Ferguson Plumbing and Goodman Distribution upon the close of this sale.

Ironically, what industrial asset buyers and tenants seek in airport properties isn’t necessarily access to air transportation, but convenience for ground travel. Van Nuys Airports is just west of the 405 freeway and south of the 118. Hollywood Burbank Airport lies between the 118, 5 and 101 freeways.

“It’s the first stop north when you come out of West L.A.,” DeGrinis said, referring to Van Nuys. The Rexford deal notwithstanding, DeGrinis sees many properties ripe for redevelopment, largely designed to serve e-commerce distribution or entertainment tenants.

Amazon.com Inc. alone has tallied up nearly 5 million square feet in leased space in the North L.A. and Ventura County markets in the past 24 months.

Much of its leases closed in 2020 as the pandemic substantially increased a reliance on the Amazon convenience of home delivery during the stay-at-home lockdown.

“That’s enormous,” DeGrinis said, noting that he could not comment on whether the ecommerce giant has reached its saturation point in the valleys. “We’re not smart enough to know Amazon’s distribution plans.”

Contributory deals

The Avion construction site and the nine-digit Rexford acquisition are not the only transactions near the airports.

In May, spice and seasoning manufacturer Chef Merito Inc. purchased a Sun Valley industrial facility for $5.75 million, or $395 a square foot, according to CoStar Group data.

The 14,560 square-foot industrial space, situated at 7691 San Fernando Road within the Burbank Airport Commerce Center, boasts a location proximity to Hollywood Burbank Airport. Michael Zugsmith of Encino sold the property to Chef Merito, which was previously headquartered in Van Nuys.

Half a year later in December, a 16,230-square-foot Van Nuys industrial site sold for $3 million, or about $188 per square foot. Lee and Associates/North L.A. principals Scott Caswell and Erica Balin represented buyer Fox Capital and seller Kamat Family Trust in the transaction for 7020 Hayvenhurst Ave. It was a 1031 tax-deferred exchange.

“It is very challenging to find any multitenant industrial buildings for sale in the San Fernando Valley,” Caswell said in a statement. “This project is centrally located with great access to Los Angeles and well suited to serve Van Nuys Airport.”

Then in January, a pair of separate freestanding warehouses within the Van Nuys Airport Corridor sold for a combined $3.7 million. The 7022 Valjean Ave. property, with 4,452 square feet, sold for $1.9 million, while 7028 Valjean Ave., with 4,436 square feet, sold for $1.8 million.

Once again, Spectrum’s Haimoff and his colleague, Barry Jakov, represented the seller. The properties sold to separate owner/users. According to Spectrum, the sale price in this transaction represents a record-breaking price for comparable industrial buildings.

“Industrial vacancy rates are at all-time lows and demand is very high,” Haimoff said. “We have companies that have done very well and have increased their footprint by doubling up their square-footage. … “Unfortunately, there is not enough quality inventory right now, so it forces us to search deeper for additional opportunities.”

No Comments

Industrial Facility in Prime Van Nuys Airport Location, Sells for Highest Price Per SF in the Area

15837 Stagg Street in Van Nuys - Industrial Facility in Van Nuys CA

Van Nuys, CA – January 1, 2021. Yair Haimoff, SIOR and Barry J. Jakov, commercial real estate brokers with Spectrum Commercial Real Estate, Inc. based in Woodland Hills, are pleased to announce the recent sale of a freestanding multi-tenant industrial property located in close proximity to Van Nuys Airport.

Haimoff and Jakov represented both the Buyer and Seller in the transaction.

The property is located at 15837 Stagg Street in Van Nuys. The 12,400 square foot building is situated on a 25,049 square foot LAM2 zoned paved lot. The site uniquely features a large fenced and secured parking lot and ample outside storage area. The building is divisible into industrial units ranging from 1,300 to 5,100 SF spaces with separate utility meters. The building also features 12’ – 13 foot warehouse clearance and ample power.

The Buyer, a local towing company, was attracted to the Property due to the central Van Nuys location and the large rear lot. This was a leaseback sale, in which the previous owner and new owner will share the use of the property. The property sold for $3.5 Million, representing one of the highest price per square foot sale transactions in the area according to recent sale comparables.

Call broker for more information.

About Spectrum Commercial Real Estate, Inc.

Spectrum Commercial Real Estate Inc., founded in 2018 and headquartered in Valencia and Woodland Hills, California, is a full service commercial real estate firm that offers clients personalized service, local knowledge and a 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

Spectrum CRE ™ Represented the Seller in the Sale of 2 Freestanding Industrial Buildings in Van Nuys

Industrial Building in Van Nuys California

Van Nuys, CA – January 4th, 2021 – Yair Haimoff, SIOR, and Barry J. Jakov, commercial real estate advisors with Spectrum CRE ™ are pleased to have represented the Seller in the sale of 2 separate freestanding industrial buildings located at 7022 and 7028 Valjean Avenue in the city of Van Nuys within the Van Nuys Airport Corridor.

The two properties were constructed between the late 1980’s and early 1990’s. 7022 Valjean Avenue is approximately 4,452 square feet and 7028 Valjean is approximately 4,436 square feet, and both are situated on approximately 7,400 square foot LAM1 zoned parcels. The properties feature high-image designs, well designed office layouts, ample power, 16’ – 18’ min. warehouse clear, front loading and fenced and secured parking/yard areas.

The properties were sold to two separate owner users who will be occupying the buildings. 7022 Valjean Ave sold for $1,890,500.00 and 7028 Valjean Ave sold for $1,825,000.00. The sale price achieved represents a record-breaking price for comparable industrial buildings.

Jakov stated “our client purchased the properties in 2018 and tied both parcels together. In order to Sell both properties individually our client needed to separate the parcels, which was a complicated process within a short time frame. We were able to connect the Seller with a trusted building consultant who was able to timely separate the parcels, allowing the purchase of the two properties to proceed”.

For more information, please contact Yair Haimoff and/or Barry Jakov

About Spectrum Commercial Real Estate, Inc.

Spectrum Commercial Real Estate Inc., 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 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

SCV Businesses Expand Amid Vaccine Optimism

25158 Ave Stanford Santa Clarita

Valencia, CA, December 21 –Businesses in the Santa Clarita Valley are showing signs of optimism for 2021 as Covid-19 vaccinations roll out. Valencia-based Spectrum Commercial Real Estate, Inc., successfully helped Santa Clarita-based manufacturing company, 3D International, LLC, grow its automotive detailing operation by securing additional warehouse space at 25158 Avenue Stanford.

This latest partnership adds an extra 21,660 square feet of industrial warehouse space for 3D International. “This is a testament of our local business owners adapting, pivoting, and thriving during these unprecedented times,” says Yair Haimoff, founder and executive managing director of Spectrum CRE ™. This latest expansion adds to a previous September lease expansion deal of approximately 10,164 square feet signed by 3D International at 25161 Rye Canyon Loop in Valencia, after the company began making hand sanitizers in their facilities.

Haimoff adds, “With the surge of activity we’ve been fortunate to earn the trust of many organizations and entrepreneurs. In the past three months alone, we’ve managed to represent other manufacturing and warehouse/distribution clients secure additional storage facilities as well as help owner-user and investors purchase facilities within the Santa Clarita Valley.”

The latest boost in commercial real estate comes amid burgeoning hopes of the first Covid-19 vaccines being distributed in California and all-time low interest rates. “We are getting a lot of interest from buyers who want to take advantage of the low interest rates but unfortunately there is not enough quality inventory right now so it forces us to search deeper for additional opportunities,” Haimoff says, “You just need the right team on your side to uncover the hidden gems.

About Yair Haimoff

Yair Haimoff holds the prestigious SIOR (Society of Industrial and Office Realtors) designation as Founder and Executive Managing Director of Spectrum CRE ™, a commercial brokerage, property management, and investment advisory service firm specializing in industrial, retail, and office real estate.

About Spectrum Commercial Real Estate, Inc.

Spectrum Commercial Real Estate Inc., 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 pioneering approach to brokerage services. The firm’s full spectrum of services include tenant and landlord representation, 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

Spectrum Commercial Real Estate, Inc. Represented the Seller and Buyer in the Sale of this +/- 19.38 Acre in a Prime Santa Clarita Valley Location

M1 Zoned development site at 23925 The Old Road in Newhall, California

Spectrum Commercial Real Estate, Inc. Represented the Seller and Buyer in the Sale of this +/- 19.38 Acre in a Prime Santa Clarita Valley Location

Valencia, CA – October 1, 2020Randy Cude, Matt Sreden, and Connor Quan commercial real estate brokers with Spectrum CRE ™, are pleased to have represented the Seller and Buyer in the sale of an M1 Zoned development site at 23925 The Old Road in Newhall, California.

This vacant +/- 19.38 Acre Lot has 1,385 feet of street frontage along The Old Road. The property sits along the I-5 Freeway, and is within close proximity to State Route 14, FivePoint – Newhall Ranch Development, Six Flags Magic Mountain, Disney and ABC Studios, and Needham Ranch Business Park.

The Buyer was attracted to the Property for its development potential and intends to construct its new headquarters on the Property.

Randy, Matt & Connor were able to negotiate the transaction within a short period of time and successfully navigate it to a successful close during an unprecedent time for small business lenders.

The final purchase price was approximately $2.5 Million.

Call brokers for more information.

About Spectrum Commercial Real Estate, Inc.

Spectrum Commercial Real Estate Inc., 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 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