April 30 Contract Forms Review Event Earns Special Significance
Top story
Underscoring its ongoing development of new Commercial Real Estate Contract Forms and periodic revision of virtually all of its some 50 industry pacing forms, AIR announces a special opportunity for members to become updated on these standard documents on April 30 during another of its popular Contract Forms Review seminars.
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Joy De La Cruz, AIR COO and event coordinator, said the biennial event will be held at the Marriott Hotel, 3635 Fashion Way in Torrance. The review begins at 7:30 a.m. with registration and continental breakfast. The program runs from 8:30 a.m. to 5 p.m. Registration fee includes breakfast, lunch, a sample kit of all forms, as well as self-parking. Registration fee is $179 for AIR members; $199 for non-members. |
Headlining the Forms Review presentations will be Richard L. Riemer, Esq., AIR Forms Counsel, and long-time AIR member and forms committee member John Pagliassotti of PRER. |
“Since we hold these Forms Seminars every two years, members won’t want to miss the Torrance event. The seminar takes on special importance this year because we’ve created several new forms and revisions that brokers will want to become familiar with,” De La Cruz said. She added that a turnout of 200 people is expected. To register for the Forms Review Seminar, call AIR at (213) 687-8777 or click here to register. |
AIRWaves Seeks Diverse Transaction Coverage
Member Benefit
AIRWaves is anxious to express the Association’s essential diversity of large, medium and small firms alike, by representing everyone in our popular “AIR Member Deals” column. In order to achieve this, we’d like to make the process easier by providing the following simple checklist representing the basic information we need to publish your transactions. |
- Address of property, including city.
- Type of property (industrial, office, land, etc.)
- Type of transaction (lease, sale, investment)
- Name of submitting broker and who he or she represented.
- Dollar amount of transaction (approximation is fine)
- Basic business of buyer, lessee or plans of investor
- Key features of building (CTU, dock high, office space, etc.). For office deals, how many stories, type of construction
Deals should have a minimum consideration of $1 million. Please make submissions one deal at a time. Send transactions to Art Ansoorian at artpr@earthlink.net. |
Dustin Wheelan Invites Varied Property Challenges
Member Profile
For Dustin Wheelan, being open minded about handling new and varied properties, and market knowledge are closely linked. |
“I enjoy the excitement associated with taking on new projects and property types because you learn something new every day. I believe building market knowledge in order to fill your clients’ needs can result from that approach,” says Dustin. |
Dustin is an industrial property broker for GM Properties, Inc. of Whittier, a firm he launched his career with in 2007. He specializes in multi-tenant projects, both from the landlord and tenant rep perspectives, concentrating on the Mid-Counties and North Orange County submarkets. |
“My main focus is working on multi-tenant parks. If the owner ever wants to sell the properties, I want to be the guy,” Dustin said. During his three years at GM Properties, Dustin has completed over 180 sale and lease transactions. Among the listings he is currently working on is a 20,000 square foot multi-tenant leased investment sale and a former Smart and Final freestanding building sale in La Habra. |
Born and raised in Northern California’s Napa Valley, Dustin attended Wyoming Tech School in Laramie, receiving training as a Mercedes Benz technician. That may explain his passion for restoring vintage cars, including a 1969 Chevy C-10 long bed and a 1970 Chevelle. He also enjoys ocean fishing. |
AIR
Member Deals
Eastern Region
•Center Centered With $4.6 Million Extension
Jim Center, SIOR/CCIM, senior vice president in the L.A. East office of Grubb & Ellis, reports his completion of a $4.6 million lease extension of a 214,177 square foot industrial warehouse facility in the Grand Avenue Distribution Center, City of Industry, to United Stationers Supply Co. Center represented both the tenant and Prudential Insurance Company dba Grand Avenue Venture, LLC, the landlord. The concrete tilt-up building is located at 21508 Ferrero Parkway.
•Heger Firm’s Vargas Inks South El Monte Sale to Importer
Jason K. Vargas, vice president with The Heger Company of Los Angeles, reports his representation of the seller, The Kenneth W. Gill Family Trust, in the sale of a 22,120 square foot industrial facility at 9822-9832 Max Shapiro Way in South El Monte. The buyer, Kezhong Wu and Wei Rong Wu, will use the building for their mask and costume importing business. Michael Hu of Pros Group, Inc., represented the buyer.
•GM Properties Duo Closes $3.9 million El Monte Sale
Dustin Wheelan and Jason Jamison of GM Properties, report their representation of Erno Industries in its sale of a 102,469 square foot, multi-tenant industrial building at 3640-3700 Cypress Ave. on three acres in El Monte for $3.9 million. The concrete tilt-up building was acquired by 2000 Gold LP, a limited partnership. Ryan Campbell and Tony Naples of Grubb & Ellis represented the buyer.
Orange County
•Colliers' McMorris, Carlton Team for $12.25 Million Fullerton Sale
Colliers International brokers Clint McMorris and Lary Carlton, both senior vice presidents in the firm’s Torrance office, have negotiated the sale of a 198,020 square foot industrial property in Fullerton to South Coast Transportation and Distribution for $12.25 million. South Coast is a Los Angeles-based provider of transportation and logistical services throughout the United States. The property, located at 1424 S. Raymond Ave., consists of three industrial buildings situated on 14.9 acres of land. McMorris and Carlton, who represented the buyers, noted that the company obtained “Green Financing” for the transaction, provided by the Small Business Administration, which requires users to improve the property to maintain lower utility costs. They said this loan was one of the first and largest loans for a user in Southern California utilizing “Green Financing”.
•Hefner, Vernick of Voit Report $5.4 Million Anaheim Lease
Voit Real Estate Services’ Executive Vice President Mike Hefner and Mike Vernick of Voit’s Anaheim Metro office, announce their representation of MS Partners, a real estate investment company, in its seven-year lease of a 104,000 square foot industrial property in Anaheim to RB Dwyer Company, a converter and supplier of various heat shrink packaging materials. Ben Seybold and Sean Ward of CB Richard Ellis represented the tenant. The property is located at 2891 E. Miraloma Ave. Lease consideration was $5.4 million.
Inland Empire
•CBRE Team Complete ‘Royal’ Lease
CB Richard Ellis announces the completion of a 414,825 square foot industrial lease at 925 9th St. in San Bernardino, following the sale of the building in January. The five-year lease represents one of the largest new leases in the Inland Empire so far in 2010. CBRE’s Frank Geraci, Walt Chenoweth, Juan Gutierrez and Patrick Wood of the Ontario office represented the landlord, Hillwood Investment Properties. Royal Appliance Company is the new tenant. The lease represents a relocation for Royal Appliance, which is expanding their operations by more than 65,000 square feet. Royal Appliance’s brands include Hoover and Dirt Devil vacuum cleaners. Jeff Smith and Jeff Huberman of Lee & Associates represented Royal Appliances.
South Bay
•Torrance Pays $17.6 Million for 15 Acres; Envisions ‘Transit Center’
Todd Taugner, SIOR, principal in The Klabin Company’s Torrance office, along with company President David Prior, SIOR, and Frank Schulz, SIOR, also of that office, report that the City of Torrance has paid $17.6 million to acquire a strategically located 15-acre parcel of land in Torrance, of which five acres is being considered for the site of its proposed new “Regional Transit Center”. The Klabin brokers, who represented the city, said the city purchased a triangular shaped property at 465 Crenshaw Blvd. David Stromath of CB Richard Ellis represented PPG, the seller.
AIR Quick
Bursts And Coming Events
Crocker Symposium 2010 – March 23, Los Angeles Convention Center; 7:30 a.m. to 5 p.m. Another AIR alliance event, co-sponsored by the Los Angeles County Bar Association Real Property Section and the UCLA Ziman Center for Real Estate. AIR members receive a $70 discount off the standard $325 registration rate.
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. (See top story)
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 Jobert,
or if you have questions, call him at (213) 687-8777.
Tech
Tip
WinAIR Forms- How can I
Print in Letter Format?
To print in letter format,
from the Main Menu select Tools and Page Setup, select
the Letter option and click on save. The form will be in
letter format on the screen and when you print it will
print in letter.
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