Industry Prospects for 2010 Center Stage for January 27 ‘Market Review & Forecast’
Top
Story
With positive speculation at a fever pitch in anticipation of a commercial real estate rebound some time in 2010, just 20 days remain before some of the answers may be revealed during the 17th Annual AIR “Market Review & Forecast” set for Wednesday, January 27. The event will be held at a familiar Private Club located at 545 S. Figueroa St. in downtown Los Angeles. Festivities begin at 5 p.m. with cocktails and registration; dinner and program follow at 6 p.m.
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Reporting that a “strong turnout” is expected for the Annual Dinner, AIR COO and Event Coordinator Joy De La Cruz said a full slate of ten panelists and eight leading corporate sponsors are set for the evening. |
Panelists, reflecting the “Market Review/Forecast’s” distinctive format of submarket by submarket analyses are Scott Caswell, Delphi Business Properties, Inc., commenting on the San Fernando Valley/Valencia region; Steve Bellitti, Colliers International, Inland Empire; Eric Hinkelman, Cushman & Wakefield, Orange County; Dennis L Sandoval, DAUM Commercial Real Estate Services, East Side; Luke Staubitz, SIOR, and Keith Fielding, The Klabin Company, West Side; Paul Sablock, Jones Lang LaSalle Americas, Inc., Central; Dave Drummond, Colliers International, South Bay; Cliff Fincher, Lee & Associates, Mid Cities, and Paul Farry, CB Richard Ellis, Ventura County. |
Leading sponsors for the evening with accompanying displays are Bank of America, Commerce Escrow Company, Duncan Appraisal, Bank of the West, AFLAC, California Statewide, US Bank, and TMC Development. |
Cost for the Annual Dinner event is $99 for AIR members; $119 for non-members. For more information call AIR at (213) 687-8777, or visit its web site at www.airea.com. |
AIR Forms Package Continues Expanding, Improving
AIR’s standard real estate forms, long the pacesetters in the industry, continue to be refined and expanded to better serve the brokerage community. |
Attorney Rick Riemer, a key member of AIR’S respected Forms Committee, reports that a new form and an important revision to all of the AIR lease Forms have been completed. The new Form, the “Amendment to Exclusive Right to Represent Owner for Sale or Lease of Real Property”, is designed for use by brokers who need to extend the term of their listing agreement or otherwise modify such agreement. This new form was developed as a result of input from the members. |
| Riemer also reports that the insurance provisions in all of the AIR’s lease forms have been modified. |
| Click here to download the most recently updated forms for the state of California. Save the file first, then run it. |
Lara Thinks Like Clients
Member Profile
To Rudy Lara, optimum brokerage service in a service industry means “thinking as if I were the client”. Additionally, says Rudy, it also means concluding transactions in a professional manner with minimum stress on the client. |
This distinctive approach has panned out for Rudy during a 28-year industrial brokerage career. Rudy is executive vice president in the South Bay office of DAUM Commercial Real Estate Services where he began his career in1982, with a brief hiatus operating his own firm. Rudy and DAUM have been a positive connection. Rudy earned Salesman of the Year honors for his DAUM office in 2008 and 2009 and achieved #2 ranking companywide this year. |
Rudy focuses on industrial building and land sales and leasing in the South Bay and Southeast submarkets, and attributes his consistent success to an interest in his clients. “ I want to think like the client and use my experience to make their life easier. This means anticipating areas of concern in advance and offering expert advice by being the client’s right hand person in every facet of the transaction. When I conclude a transaction, I want the buyer or tenant to know that I’ve done the very best I can,” Rudy said. |
The result has been a succession of significant closed transactions by Rudy. Immediately prior to the end of 2009 he represented Eugene Choi, the principal of an importer and exporter of health care and beauty products in the $6.5 million acquisition of a 100,000 square foot industrial building in Cerritos. Earlier, he closed a 4.56-acre sale in the South Bay’s Harbor Gateway Industrial Tract, representing the buyer. Rudy also represents the buyer/developer who plans build to suits and the creation of two new buildings of 40,000 square feet each. |
A graduate of California State University, Dominguez Hills, Rudy and his wife, Laura, reside in Buena Park. They have six children, Andrew, 26, Nathan, 24, Jordan, 22, Matthew, 20, Jacqueline, 18 and Natalie, 15. Andrew and Jordan also work with DAUM. |
| Rudy’s leisure time spells ATHLETE. He played professional baseball in the Mexican League after performing for Cal State, and today applies his baseball skills to instructing area youngsters in hitting. He’s also a Black Belt in Tae Kwon Do, and has long played racquetball. |
AIR
Member Deals
Southeast Region
•Jamie Kim Handles $2.35 Million Sale Leaseback
Announcing a $2.35 sale leaseback transaction that was “above and beyond market”, Jamie H. Kim, executive director of Giga Commercial in Cypress, reports her representation of seller J& R Cerritos Properties in its disposition of a 16,885 square foot industrial building on 40,746 square feet of land at 12981 166th St. in Cerritos. The building will continue to be occupied by the seller who manufactures custom springs for the aerospace and medical industries. Peter Sowa, associate director of Cushman & Wakefield represented GV Trust, the seller. Kim reports that a 5.17% cap rate was achieved in an 8% cap market.
Inland Empire
•Rick John Reports $14 Million Ontario Office Lease
Rick John, senior vice president/regional manager of Collins Commercial, has completed a $14 million lease transaction for 50,000 square feet of new office space in a state of the art building adjacent to Interstate 10 in Ontario. John represented tenant West Coast University which is expanding. West Coast University, the premier educator in the nursing field, plans a May occupancy. Its new space is located in the six-story 150,000 square foot building owned and developed by J.R. Wetzel at 2855 Guasti Rd. Taylor Ing of CB Richard Ellis represented Wetzel.
Northwest Region
•Behar Buttons Valley Retail Investment Sale
A two-story, 10,757 square foot commercial retail property on Ventura Blvd. in Woodland Hills has been sold to area investors for $2 million, announces Anthony Behar of Major Properties, who represented Woodland Casual Real Estate Holdings, LLC, the seller. The property, located at 19855 Ventura Blvd., was acquired by Rockstar Properties, represented by George Stavaris and Darren Cline of Grubb & Ellis. The vacant building formerly served as a high end patio furniture store. The buyer intends to convert it to multi retail use.
South Bay
•Major Submarket Office Lease Reported by NAI
Doug Wubbena, senior vice president of NAI Capital, Newport Beach, represented General Imaging Company, the exclusive worldwide licensee of General Electric digital cameras, in a long-term lease for less than 10,000 square feet with Toyota Motor Sales-USA to establish its new worldwide corporate headquarters at Toyota Plaza located at 1411 190th St., Gardena.
Orange County
•Karl Heim On Range with 72,015 Square Foot Brea Lease
Karl Heim in the Newport Beach office of CresaPartners, reports his representation of Jade Range, a national unit of Middleby Corporation, in their lease of 72,015 square feet of industrial space at 2650 Orbiter St., Brea. The 72-month lease is valued at nearly $4 million. Heim said the existing lease inherited from Whirlpool by way of acquisition was restructured from approximately 121,000 square feet down to the current size for a fresh seven-year term. Mike Dunn of Dunn Property Management Services represented D & D Ventures, the landlord. Jade Range is a premier national manufacturer and wholesaler of commercial oven/range products.
•DAUM Duo Handle Sale of Anaheim Industrial for $2.6 Million
DAUM Commercial Real Estate Services announces that it represented the Lavezolli Family Trust in the sale of a 16,367 square foot industrial building on approximately 2.5 acres of land in Anaheim. The property is located at 1215 N. Fee Ana St., in Anaheim. Total consideration was $2.6 million. Chris Migliori, SIOR, and Paul Gingrich of DAUM’s Orange County office represented the seller. Urban Infill Properties represented the buyer, Pacific Press Company.
•Colliers Industrial Sale Trucks
Colliers International has directed the sale of a 44,500 square foot industrial building at 12221 Monarch St. in Garden Grove. The sale is valued at $3.5 million. Brad Christian, senior vice president in Collier’s Irvine office, represented the buyer, The Heidler Family Trust. The buyer will occupy the space as a truck parts warehouse for its Santa Ana-based truck dealership, Tom’s Truck Center. Steve Eberle of the Eberle Company represented the seller, California Shirt Printer, Inc.
•Voit Assists Bank With Anaheim Industrial Sale
Voit Real Estate Services’ Commercial Brokerage division has handled the sale of a 65,000 square foot industrial building situated on four acres in Anaheim, The bank-owed property sold for $4.3 million. The building is located at 5410 E. La Palma. The buyer, Pinnacle Precision Sheet Metal, is relocating its corporate headquarters from it current location in Anaheim. A June occupancy is scheduled. Rob Socci, executive vice president of Voit, represented the seller, an undisclosed bank. Socci also represented the buyer.
AIR Quick
Bursts And Coming Events
17th Annual Market Review & Forecast, January 27, 2010; Private Club, 545 S. Figueroa St., Los Angeles (see Top Story).
Contract Forms Review - April 30, 2010; Marriott - Torrance. 7:30 A.M. Registration & Continental Breakfast 8:30 A.M. to 5:00 P.M. Program. Registration fee: $179 Members - $199 Non-Members. Click here to register.
Would you like to feature your listing on AIR’s homepage? - Your listing can be one of our Featured Properties on www.airea.com. This will include a photo of the property, availability, listing agent details, and a link to your AIR brochure or flyer.
For details on how your listings can become Featured Properties, click here or please contact Maria Verdin at (213) 687-8777 ext. 4306 or by e-mail at mverdin@airea.com.
In-House Training - The AIR offers
training for CDX, e-MULTIPLE, WinAIR Forms, and AIRMail.
If a group of brokers or staff from your office would
like to have the AIR bring training to you in-house,
contact Martin Vartanian at (213) 687-8777. A number
of firms have already taken advantage of this great
service and been very pleased with the results.
Member Deals and Profiles - As soon as you
close a substantial deal, make sure you give Art Ansoorian
a call. Your deal will be featured in the next issue
of AIRWaves. Also be sure to get your personal bio over
to Art and be a featured member in the newsletter; it's
a great way for everyone to meet fellow members! Call
Art at (805) 653-1648, or email him at artpr@earthlink.net.
We Need Your Photos and Bios – AIR is in the process of building its database of member
photos and bios. If you would like your photo and bio
to appear on the AIR website at www.airea.com,
please send them via mail or e-mail to Martin,
or if you have questions, call him at (213) 687-8777.
Tech
Tip
WinAIR Forms 2.0 - How do I download the latest forms?
Click on the following link http://www.airea.com/FORMS/DownloadPurchaseForms.aspx?v=1&s=CA and in the latest Califonia Forms section click on Download Latest Forms Now and follow the instruction on the page.
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