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
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
By Michael AushenkerStaff Reporter at The San Fernando Valley Business Journal
Voters to decide on split-roll tax system in November
Proposition 15, an initiative to tax commercial and industrial properties at a higher rate for education and local government funding, will have a negative domino effect on the market, commercial real estate experts told the Business Journal.
That’s because landlords will pass along hiked property taxes to tenants, who will charge customers more.
If approved by voters on Nov. 3, Prop 15 will create a split-roll tax, or separate tax rules for commercial and retail property versus residential property. The ballot measure intends to upend what voters approved in 1978 with Proposition 13, in which all assessed property values are based on the most recent purchase. Prop 13 caps property tax rates at 1 percent of the assessed value with annual increases not to exceed 2 percent.
John Loper, associate professor at USC Lusk Center for Real Estate, said passage of Prop 15 will add more financial burden to restaurant and retail tenants already responsible for triple-net (property taxes, insurance and operating costs) leases.
“If property taxes go up, the tenants pay, not the landlords,” Loper said.
With non-chain restaurants, small shops, cabinet makers, carpenters and plumbers —
“all of the small businesses are going to be paying those property taxes,” Loper continued.
Entrepreneurial business owners have already
“been hurt the most by COVID. They don’t have deep pockets.”
There are some exemptions, according to Loper, such as small companies that own their property.
“But most of the time, they’re renting at a shopping center or multi-tenant industrial park and (tax hikes are) not going to help,” he said.
Union groups have backed Prop 15, which promises $11 billion in revenue in a 60-40 split between municipal governments and local schools from K-12 to community colleges.
While that might sound ideal on paper, broker Yair Haimoff, founder of Spectrum Real Estate Services in Encino and Valencia, questions whether the funds will truly go where intended.
“Who is going to be in charge of appropriating the funds?” Haimoff asked.
“County assessors, they’re already behind. … Where are they going to get the manpower to do this?”
If landlords raise rents and tenants can’t pay or go out of business, landlords will stumble in paying their mortgage lenders, Haimoff said. Loper thinks Prop 15 could exert a large influence on the economy at large.
“This could be the thing that tips (business owners to say) ‘I can’t do this anymore,’” he said.
Eventually, customers will pay for the tax hike, the broker and academic agreed.
“The tenants are going to have to raise prices and the consumers are going to have to pay for it,” Haimoff said.
“This is going to severely hurt a lot of small businesses. On top of COVID, this is scary.”
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
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.
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.”
An upscale baked goods producer and café have signed a 15,757-square-foot deal on a Warner Center facility that will become the company’s new manufacturing space.
Spectrum CRE ™, leader Yair Haimoff represented tenant Wildflour Bakery & Café and Lessor 26 Califa LLC. in the industrial/office complex lease.
The property, located at 21160 Califa St. in Woodland Hills, will be utilized by Wildflour Bakery & Café of Agoura Hills as its new baking facility while the Conejo Valley company retains its café in Agoura Hills.
Owned by Gregory Yulish, Wildflour produces and delivers baked goods directly to big-box retailers and restaurants nationwide. The company will move into the Warner Center space during the third quarter.
Founded in 2018 by Haimoff, Spectrum CRE ™ is a full-service commercial real estate firm in Valencia.
Yair Haimoff, SIOR, and Andrew Ghassemi, commercial real estate advisors with Spectrum CRE ™, are pleased to have represented the buyer in the sale of a +/- 6,297 square foot multi-tenant retail property in Newhall.
This was an all-cash transaction. The amount was not disclosed. The property is located at 25057-25067 Peachland Ave., in Newhall, 91321, within the Santa Clarita submarket. It is situated on a 23,087 square foot parcel and is part of a larger shopping center anchored by Smart & Final, Union Bank, and the US Postal Service.
This multi-tenant property is situated within the Corridor Plan (CP) zoning area, designated by the city of Santa Clarita. The CP zoning designation identifies lands in the planning area that are governed by an adopted corridor plan. This coupled with new developments currently in progress provides the new owner(s) with tremendous upside in terms of future opportunities. Call brokers for more information.
About Spectrum CRE ™.
Spectrum CRE ™, 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 fresh 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.