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Spectrum Commercial Real Estate Just Closed Sale of Retail/Office Space in North Hollywood, CA

Retail Office Space in North Hollywood

North Hollywood, CA – September 23, 2021 – Isaac Haimoff of Spectrum Commercial Real Estate, Inc., is pleased to announce the recent sale of a building located in North Hollywood, CA.

Haimoff represented the seller in this transaction.

The asset is a very rare small retail/office building located on Lankershim Boulevard in the heart of the NoHo Arts District. The building provided a rare opportunity for an owner-user/investor to own a small piece of real estate in one of the most desirable areas in the San Fernando Valley.

The property is located near the corner of Lankershim Boulevard and Morrison Street. It is within close proximity to major retailers, shops, and restaurants. It is also minutes away from the North Hollywood Metro station and the 101, 134, 170, and 5 freeways.

The property sold for $1,175,000.

Please contact the 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 the Sale of a Retail/Office Building in Burbank, CA

Office Building for Sale

Burbank, CA – September 23, 2021 – Isaac Haimoff of Spectrum Commercial Real Estate, Inc., is pleased to announce the recent sale of a building located in Burbank, CA.

Haimoff represented the seller in this transaction.

The asset is a rare two-unit retail/office building located at 3804 West Burbank Boulevard. The building provided the opportunity for an owner-user/investor to occupy one unit and collect rental income on the second unit.

The property is located in a prime Burbank location near the corner of West Burbank Boulevard and North Screenland Drive. It is within close proximity to downtown Burbank, the NoHo Arts District, major retailers, shops, and restaurants. It is also minutes from Hollywood Burbank Airport, two Metrolink stations, and the 5, 134, and 170 freeways.

The property sold for $1,165,000.

Please contact the 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 Sale of Office/Flex Building in Valencia

28318 Constellation Road, Valencia CA

Valencia, CA – July 14, 2021 – Yair Haimoff, SIOR and Andrew Ghassemi of Spectrum Commercial Real Estate, Inc., are pleased to have represented the seller in the recent sale of this ±4,828-square-foot office/flex condo in a prime Valencia location.

The sale was an all-cash, quick-close owner-user deal.

The asset is an office/flex condominium situated within the prestigious Discovery Gateway Spectrum I.

The building is located at 28318 Constellation Road. The property is a high-image, state-of-the-art facility, and it features a well-designed office layout with floor-to-ceiling windows and panoramic views of the Santa Clarita Valley.

The property is located near the corner of Constellation Road and Alta Vista Avenue. 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). Also, it provides easy access to I-5, SR-14, and SR-126.

The property sold for $1,395,292.

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 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,