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.
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.
After more than 15 years with NAI Capital, Yair Haimoff and his team have struck out on their own and have already made a big impact in the Santa Clarita Valley real estate market.
Haimoff, a commercial real estate adviser with nearly two decades of brokerage, leasing, sales and investments experience, announced the launch of his new firm, Spectrum CRE ™, earlier this year.
Since January, Spectrum CRE ™ has been involved in several significant transactions, including the sale of the former home of Einstein Academy charter school, a $6 million property on Kelly Johnson Parkway, in addition to helping Santa Clarita Valley businesses find spots in industrial spaces such as the Centre Pointe Parkway business park in the center of town.
There, Haimoff recently located a new client where the home of the Warrior Fitness facilities were located.
“My goal is launching Spectrum CRE ™ is to provide a fresh and innovative approach to brokerage, using technology to streamline processes so our brokers can focus on providing superior client service without getting distracted by administrative tasks,” Haimoff said, nothing that, with his new company, he looks forward to innovating.
“With tools to help efficiently, including creating a sustainable working environment, our team has greater flexibility to connect with our clients on a more personal level, to deliver the greatest value and results.”
Haimoff is serving as the firm’s executive managing director and joined by brokers Isaac Haimoff, Matt Sreden, Andrew Ghassemi, Barry Jakov, Alan DiFatta, Shawn Jacobson and Nathan Shaolin, with additional brokers joining the firm soon.
Starting his own firm has been given Haimoff a number of opportunities he’s using to try to better serve Spectrum’s clients, he said, such as state-of-the-art drone footage, a little more control over client services and offices in three locations: Encino, West L.A. and the company’s Valencia headquarters on Constellation Road.
The firm’s 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 and debt/equity.
Spectrum CRE ™ currently represents property listing throughout Los Angeles and Ventura counties.
With tax laws tailored to favor the bold, investments in commercial real estate is how the ultra-wealthy make money.
We now know that about 80% of millionaires contribute their financial success to real estate and that savvy investors place their claims in the commercial sector.
Yet, the market’s accessibility does not end at the wealthy elite. With a dynamic range of financing options commercial real estate is obtainable to anyone with the drive for success.
Commercial real estate, an attractive option for all involved.
CRE buildings attract long-term tenants, which translates into a secure and consistent cash flow. Businesses benefit from steady long-term leases, since it establishes them in the community, and offers stability for their employees.
Long-term leases have the added benefit of being more favorable to banks, should you decided to sell or refinance your CRE property.
Scale economy, more units; less money (overall).
By owning a multi-unit building, you can negotiate more favorable contracts with outside vendors and maintenance teams.
This benefit is directly proportionate to the number of units available in a building, which drives down prices and causes companies to directly compete for your business; you can even decrease expenses by re-negotiating operating cost.
The flexible nature of CRE investments allows for clever amortization of big expenses, which means lowered long-term cost and better quarterly returns.
Did you know?
The IRS has given CRE owners many tools to help drive down taxes on their properties. One such tool is depreciation.
CRE buildings will start to depreciate at 27.5 years, and you can remove a portion of the building’s depreciation value from your yearly profits, lowering the amount of taxable income.
This is effect can be furthered by a cost segregation study, which allows you to accelerate depreciation value on tangible assets such as appliances, carpets, and light fixtures, to name a few.
In short, commercial real-estate is the sure-fire way to increase your ROI. Let us examine how we can put cash back in your wallet.