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Spectrum Commercial Real Estate Just Closed Sale of Retail Building in Montebello, CA

Beverly Montebello, Retail Building in Montebello

Montebello, CA – July 9, 2021 – Yair Haimoff, SIOR and Zachary Rabinowitz of Spectrum Commercial Real Estate, Inc., are pleased to announce the recent sale of a retail center located in prime Montebello, CA.

Haimoff and Rabinowitz represented the buyer in this investment sale.

The asset consists of two buildings located at 2537 West Beverly Boulevard. The buildings were built in 1982 and renovated in 2011. There is one single-story building and one two-story multi-tenant building, and in total the property is made up of four retail storefronts, four office spaces, and a detached fast-food restaurant. The area of the buildings is 6,200 sq. ft., and they sit on a 10,196-square-foot parcel. The property is in a prime corner location with high visibility. The buildings are fully leased out.

The property is located near the signalized corner of West Beverly Boulevard and North Hay Street. It is in a prime Montebello location in close proximity to Quiet Cannon, Citadel Outlets, public transportation, restaurants, shopping, and parks. This location provides easy access to the I-5, I-710, and SR-60.

The property sold for $1,450,000.

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

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Spectrum Commercial Real Estate Just Closed Sales of Two Multi-Family Buildings in Los Angeles

Multi Family Buildings in Los Angeles

Los Angeles, CA – July 9, 2021 – Yair Haimoff, SIOR, Executive Managing Director of Spectrum Commercial Real Estate, Inc., is pleased to announce the recent sale of two multi-family buildings located in prime West Los Angeles, CA.

Haimoff represented the buyer on the portfolio sale.

The first building is a six-unit, two-story investment property located at 1224 South Barrington Avenue. It is approximately 8,992 sq. ft., and it is situated on an approximately .14-acre, LAR3-zoned parcel. The building is comprised of five two-bedroom units and one penthouse three-bedroom unit that spans a full floor. The structure was built in 1973, and it presents a value-add opportunity with the potential to increase rents after interior renovations.

The Barrington property is located near the corner of Barrington Avenue and Wilshire Boulevard. It is in a prime West Los Angeles location minutes from UCLA, Santa Monica Pier, Santa Monica Municipal Airport, and the Getty Center. This site is close to a host of amenities located in Westwood Village, Sawtelle Avenue Japan-town, and Santa Monica. This location provides easy access to the I-405 freeway and Pacific Coast Highway.

The second building is a five-unit, two-story investment property located at 10360-10364 Ashton Avenue. It is approximately 4,113 sq. ft., and it is situated on an approximately .11-acre, LARD 1.5-zoned parcel. The building is comprised of four one-bedroom units and one two-bedroom

unit. The structure was built in 1941, and it presents the potential to grow current rents through renovation.

The Ashton property is located near the corner of Ashton Avenue and Beverly Glen Boulevard. This property is also in a prime West Los Angeles location minutes from UCLA, the Los Angeles Country Club, Rodeo Drive, Westfield Century City, and Cedars-Sinai Medical Center. This location provides easy access to SR-2 and I-405.

The buildings sold for a combined purchase price of $6,800,000.

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

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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

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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

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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

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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.

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Spectrum Commercial Real Estate, Inc. Represented the Seller in the Sale of 6,077 SF High-Image Office Condo in the Prestigious Rye Canyon Pointe

28212 Kelly Johnson Building in Valencia CA

28212 Kelly Johnson Parkway in Valencia, California

Spectrum Commercial Real Estate, Inc. Represented the Seller in the Sale of 6,077 SF High-Image Office Condo in the Prestigious Rye Canyon Pointe

Valencia, CA – September 18, 2020 – Yair Haimoff, SIOR, Andrew Ghassemi and Matt Sreden, commercial real estate brokers with Spectrum Commercial Real Estate, Inc., are pleased to have represented the Seller in the sale of this +/- 6,077 SF high-image office condo in Valencia, California.

This high-image office condo, built in 2007, is located at 28212 Kelly Johnson Parkway in the prestigious Rye Canyon Pointe. It features excellent layout, high-ceilings, elegant double door entry, wrap around window lines with sweeping views of the Santa Clarita Valley, dual elevator access, two story atrium entry and open surface and covered parking.

The property is located within minutes from the Valencia Town Center, Henry Mayo Newhall Hospital, hotels, championship golf course, single and multi-family housing, Six Flags Magic Mountain, and many other amenities.

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,

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Half-Acre Property in Santa Clarita Sells for $1.5 Million

Half-Acre Property in Santa Clarita

18717 Soledad Canyon Road in Santa Clarita.

Half-Acre Property in Santa Clarita Sells for $1.5 Million

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

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.

Spectrum’s Yair Haimoff and Randy Cude represented the unnamed seller of the property.

Original Author: Michael Aushenker
Original Publication By: sfvbj.com

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Virtual Leasing

Yair Haimoff Virtual Leasing

Photographer: Thomas Wasper at The San Fernando Valley Business Journal

Tech Savvy: Yair Haimoff started virtual walk-throughs before the pandemic.

 

By MICHAEL AUSHENKER Staff 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.

Sales cycles

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.”

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Coldwell Banker Leases New Location in Valencia

Place at 27451 Tourney Road in Valencia. Coldwell Banker

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.”