A commercial property with only 1,292 square feet in Santa Clarita has sold for $1.5 million, according to brokerage Spectrum Commercial Real Estate.
The property is located at 18717 Soledad Canyon Road and was opened in 1962.
It features 180 feet of frontage along heavily trafficked Soledad Canyon Road and serves as an excellent site for various commercial uses, according to Spectrum. The lot is comprised of two freestanding structures, one of which is Alta Dena Dairy and the other a coffee kiosk with drive-through capability.
The property is also next to a slew of retail storefronts and sits across the street from Edwards Cinema.
High-Image Warehouse/Distribution Building just Sold in Burbank
Burbank, CA – June 1st, 2020. Yair Haimoff, SIOR, commercial real estate broker and Founder of Spectrum Commercial Real Estate, Inc., is pleased to have represented the Buyer in the sale of this +/- 14,560 SF high-image industrial building in Burbank, California.
This high-image facility, built in 2005, is located at 7691 N San Fernando Road in Burbank within Burbank Airport Commerce Center.
It is within close proximity to major studios, the Empire Retail Center amenities, and adjacent to the Bob Hope Airport.
The buyer an owner-user based in the San Fernando Valley will be utilizing the property as a distribution center of finished product.
Call broker 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
Photographer: Thomas Wasper at The San Fernando Valley Business Journal
Tech Savvy: Yair Haimoff started virtual walk-throughs before the pandemic.
By MICHAEL AUSHENKERStaff Reporter
Until recently, virtual tours of commercial and residential real estate proper-ties were something of a novelty and virtual leasing a rare option. 1ow, during pandemic times, they have become a necessity.Local property owners and brokers, who have already flirted and familiarized them-selves with virtual tours for the past few years, are relying heavily on the technology to get them through the social distancing requirements during the shutdown period as the coronavirus situation prevents prospective investors and renters from visiting properties in person because of liability reasons.
Chicago-based real estate investment firm Waterton Property Management has aggressively employed virtual tours and leasing in the marketing of its new apartments at Chase knolls in Sherman Oaks.
Located at 13401 Riverside Drive and occupying a large block, Chase Knolls is not your average Valley mid-century apartment complex. Waterton is beginning to wrap up its first phase on an overhaul project that was long resisted by locals. Designed by pioneer African-American Modernist architect Ralph Vaughn and built in 1949, the garden apartments took the place of a dairy farm as a reflection of the Valley’s post-WWII boom. In 2000, four years before Waterton acquired Chase Knolls and announced plans to enhance it with an expansion project, the apartments were declared a Los Angeles landmark. With parklike paths and shady courtyards, the Los Angeles Conservancy considered this address a prime example of the ideal postwar utopian village.
With those issues in the rearview, Water-ton originally readied to roll out its upgrade in stages starting in May and through mid- to late-2021, Waterton has been renovating 260 of what it calls its “classic units” while building 141 new residences to the historic project.
“We’re really trying to keep the mid-century style,” Tina Miserendino, director of marketing and branding for Waterton, told the Business Journal.
“We had a lot of (virtual) technology in place prior to the virus,” Miserendino said, explaining that they got on board three years ago “when that concept rolled out in an incubator. We rolled it out at a portion of our properties, and we saw a great success.”
Utilizing Realync a real-time virtual live-tour software ± a potential buyer can walk through a Chase .nolls apartment with the leasing agent, who is physically walking through the home and delivering video and narration via a tablet or cellphone.
“Each of our associates are creating video that they can email,” Miserendino said.
Before the pandemic, occasional buyers in a different state or city might take the virtual route and buy a property without as much as an in-person visit.
We call those (types of buyers) ‘site unseen’ leasing,” Miserendino explained. “If you love the specific unit, the leasing agent would lead you to our property website. There’s an area you can apply. Hit the apply link, fill out information, go through our normal screening process.”
Typically, after 24 to 48 hours, when the buyer gets an approval and a move-in date, a commitment is a commitment. But during the pandemic, potential renters can get a full refund 72 hours prior to moving in, in a policy Waterton is presently offering through the end of July.
If you’re dissatisfied, within 30 days from the move-in date, you can cancel your lease and move out without penalty and only pay the days you’ve been living with us,” Miserendino said. “The move out must be within the 30 days from the move in date.”
Virtual growing reality
Waterton is currently conducting internal discussions regarding self-guided tours, but it’s not as easy as having a potential buyer sign a waiver, the company representative explained.
“We would have to really think about the liabilities and legality of not being present when they are going through the property,” Miserendino said. “(But) that’s definitely in our pipeline. We’ve actually explored (this idea) prior to the coronavirus.”
Meanwhile, she continued, virtual leasing will be the standard during the virus crisis.
“The fact that we live in our digital age is actually going to help us achieve our leasing goals,” Miserendino said. “’With the current circumstance, this is an amazing option.”
Not every property owner has embraced virtual leasing during the crisis, noted Janette, senior director of National Multi Housing Group at Marcus & Millichap’s Encino office. She explained that it depends on whether the building owners are huge firms or smaller, independent investors.
“As far as I am aware, there is a real lull for owners in renting out their vacant units,” Monfared said. “A lot of small mom-and-pop (multifamily property owners) do not have the tools for this. I think owners of larger and newer properties, large companies, are the ones really taking advantage of the virtual property tour.”
However, companies not employing such technology may soon become the outlier, said Yair Haimoff, chief executive of Spectrum Commercial Real Estate Services in Encino, who noted that his agency started doing virtual tours long before the catastrophe hit.
“We actually began utilizing the features as most prospects were too busy to tour spaces during normal business hours and the fastest way was to set up virtual tours so the prospects could walk through the space virtually,” said Haimoff. “We also have detailed 3-D floorplans for each space that we lease.”
Spectrum’s brokers still conduct personal tours. However, “we pre-screen each prospect and make sure that everyone (brokers and clients) wears a mask to the showing,” Haimoff said.
Karen Schakarov, vice president of marketing for Peak Corporation Network in Woodland Hills, said that, right now, showing places in person is no longer an option. The Peak Century 21 branch is run by Eli Tene and Gil Priel.
“Eli was ahead of the curve (with tech),” Schakarov said. “We own our own meta-port, a 3-D virtual camera. You can post it, you can promote it. Additionally, we try and do a Facetime with the leasing agent. … Today, that’s the only way to show a property.”
Peak can close deals on single-family homes, multifamily properties, and commercial properties, such as strip malls, via virtual leasing. However, it might be too early in the run of the coronavirus crisis to see deals closed from beginning to end virtually. While the volume of sales has slowed significantly since March, sales currently in play are tied up with virtual, as owners had visited the sites prior to the outbreak.
“The sales cycle is too long for that,” she said of seeing deals beginning and ending during the crisis.
Schakarov also mentioned that Tene and Priel are picking up the tab on technology expenses to support their sellers.
“Usually, an agent pays for everything,” she explained. “They pay 100 percent for the photography, the tech, drones,” she explained.
Ultimately, Schakarov continued, despite the abrupt slowdown in real estate, “people still need to buy and sell properties. The need hasn’t changed. The way you execute has changed.”
Schakarov said young adults — millennials and younger — were already embracing online buying before the pandemic broke out. She predicted that the virtual purchase will become an industry norm after the crisis subsides.
“It will be the revolutionary way of buying property this way sooner rather than later,” she said.
Waterton’s Miserendino also believes that virtual tours will stick around past the pandemic and “site unseen” buyers will multiply.
“With the transient nature of the renter in our country, people move state-to-state all the time,” she said. “This technology will continue to be used after the virus. This is just the beginning.”
Photographer: Thomas Wasper at The San Fernando Valley Business Journal
By Michael AushenkerStaff 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 Haimoffstands 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 CRE ™. 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 in 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.”
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.”
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 about 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.
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.
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.”
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.
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.”
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.
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.
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 ™.
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.
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.
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.