Quality, Quantity of AIR Comp Data Rises Sharply
Top story
AIR officials announce that the quality and quantity of the AIR’s “Comparable Data” has improved dramatically over the past 12 months following the introduction of wide ranging new practices and procedures by the Association. Members are encouraged to utilize the system in order to better serve their clients. |
“We are anxious to make our broker members aware that our Comp data has improved dramatically during the past year and will continue to improve going forward. The AIR’s data is reliable and can only be accessed by AIR members. When our members contribute Comp data to the system they are improving the system as a whole while, at the same time, increasing the value of AIR membership,” said Tim Hayes, AIR’s executive director. Hayes reported that since the fourth quarter of 2009, Comp contributions from brokers have vaulted from 45% to 72%. |
Responsible for the major increase in the AIR’s Comp data quality and quantity, said AIR Operations Manager Monique Figueroa, are several significant initiatives. She cited the recent hiring of AIR’s new Comp Director Jennifer Chow, who exclusively oversees the entire Comp collection process. These processes include a broadening of research sources, including title company research, business and real estate trade media research, and enhanced broker outreach. |
| “The result has been over a 50% increase in sales Comps entered into our system from the fourth quarter of 2009 through the first quarter of this year,” Figueroa said. “We have seen similar improvement in the quality and quantity of lease Comps.” |
Hayes added that “the AIR understands the proprietary nature of lease Comps. That being said, if AIR members would contribute Start Rates, Lease Execution Dates, basic tenant info, and cooperating broker identities, it would go a long way toward maximizing our system even more.” |
Figueroa emphasized that all of the AIR’s Comp data is found in the CDX so members seeking the most up-to-date and accurate Comp information should utilize the CDX’s Comp search functionality. She noted that Comp data for industrial properties in Los Angeles County is also delivered through e-MULTIPLE. |
Underscoring the unique professional “family” of brokers comprising AIR, Hayes concluded: “We encourage brokers to provide at least basic Comp information once a deal has been completed. As with listing information, this sharing of data is what makes the AIR great and sets us apart from other data providers.” |
New Building Measuring Device Reported
Member Benefit
One of the foremost benefits of AIR member, yet one that goes largely unsung, is the constant sharing of information among brokers themselves. Pat Remolacio in the Irvine office of Colliers International, through past President Stan Mullin, passed along information about a “new tool” “that both impresses me and that I can use in my industrial/commercial real estate practice almost daily. It’s called the HILTI “PD 40 LASER RANGE METER”. Remolacio reports that “unlike other hand-held distance measuring devices, the PD-40 utilizes a visible laser beam instead of an invisible sound wave, both of which the user points at the target from which a measurement is needed. Moreover, the range of the PD-40 is 650 feet, as compared to most other devices that have one-half or less of that distance with “questionable accuracy,” according to Remolacio. |
| “I have used this device quickly, accurately and with little effort to 1) measure warehouse ceiling clearances, 2) measure truck court distances standing inside a building at an open loading door, 3) measure and compute square footages without the use of a calculator or even a pencil, 4) measure building column spacing, and 5) in seconds, accurately populate the data required on an AIR brochure form, to include the loading door sizes and building dimensions, and product stacking heights and aisle depths and widths,” Remolacio said. For information on the PD-40, Remolacio says members can contact Rebekah Edwards, HILTI account manager at (949) 294-5021, or email rebekah.edwards@hilti.com |
Southland’s Business Diversity Inspires Courtney Bell
Member Profile
Among the dynamic aspects of the L. A. Metro area’s business sector is its diversity. Courtney Bell has a keen appreciation for this variety – whether provided by international corporations or entrepreneurial businesses. It has helped him build a solid 22-year career in commercial real estate with The Klabin Company/CORFAC International. |
“I’m drawn to the opportunity to learn about the business activities of my clients and help them solve their facility needs. The sheer variety of businesses in our market always amazes me, and keeps me motivated,” Courtney said. |
Courtney entered commercial real estate in 1988 with The Klabin Company/CORFAC International when it was based in Inglewood (today the firm has offices near LAX and in Torrance). “I was attracted to our company’s open office atmosphere, tight-knit working relationships of its brokers, and its high ratio of professional support staff,” Courtney said. |
With this as his foundation, Courtney adds a drive to successfully complete transactions. “Among my goals is to achieve repeat business and maintain client relationships,” he said. The result has been significant closed transactions. This includes Courtney’s recent representation of Storm Properties, Inc., along with Klabin partner Matt Stringfellow, for Storm’s sale of a 57,343 square foot industrial building in Storm Business Park in Torrance. |
Courtney is a graduate of the University of California, San Diego, with a Bachelor of Arts degree in Communications, He and his wife, Jennifer, and their two daughters, Julia, 5 and Jessica, 3, reside in Redondo Beach. When time permits, Courtney enjoys mountain biking the hills of Palos Verdes and the Santa Monica Mountains. |
AIR
Member Deals
Central Region
•Boyle Avenue Sale Part of $19 million completed By Heger’s An and Chung
Robert An and Hak Chung of The Heger Company report their representation of an undisclosed buyer in the sale of a 47,986 square foot industrial building at 1151 S. Boyle Ave., Los Angeles, for $6.7 million. Jeff Rinkov and David Brandt of Lee & Associates represented Dynamic Builders, Inc., the sellers. The transaction is part of $19 million in transactions concluded in the last 30 days by An and Chung.
Orange County
•Voit’s Vernick, Kwak Report Orange Sale
Jayway Properties, LLC, has acquired a 16,386 square foot property located at 1959 N. Main St. in Orange for $1.8 million, Voit Real Estate Services reports. The buyer was represented by Mike Vernick and Stan Kwak of Voit’s Anaheim Metro office. The seller, Steve Yetzke, was represented by Bryan Miller of Lee & Associates
•Daiwa Relocating to Warland Business Park, Klabin/CORFAC Reports
Daiwa Corporation, one of the world’s largest fishing tackle and related product companies, has leased a modern 61,433 square foot industrial building in the master planned Warland Cypress Business Park in Cypress, for relocation of its headquarters from Cerritos, announces The Klabin Company/CORFAC International. David Prior, SIOR, Murray Smith, and Todd Taugner, SIOR, in Klabin/CORFAC’s Torrance office represented Warland Drive One B, LLC, the landlord. Consideration for the seven-year lease was $2.4 million. Rick Hertel of Corporate Real Estate Services of Irvine, represented Daiwa.
•Heger Duo Clicks in Irvine Too
Anchoring the $19 million in deals closed by Robert An and Hak Chung of The Heger Company (see above) was their representation of Navien America, Inc., the buyer, in its acquisition of a 135,777 square foot industrial building at 20 Goodyear in Irvine for $11.6 million. David Kluver of Grubb & Ellis, represented the sellers, Goodyear Investment, LLC.
Inland Empire
•DAUM’s Zorn, Siglar Key 191,216 Square Foot San Bernardino Lease
DAUM Commercial Real Estate Services announces its representation of VID LLC the landlord, and co-representation of FTDI West, Inc, the tenant, in the leasing of a 191,216 square foot industrial building located at 5404 Industrial Parkway in San Bernardino. Mark Zorn and Tal Siglar of DAUM’s Inland Empire office represented VID LLC. FTDI was represented by Scott Leitenburg of Jones Lang LaSalle, Gus Andros of DAUM’s Inland Empire office and John Bowman of Charles Dunn. FTDI, a clothing distribution and logistics company, inked a 66-month lease for the entire building located within the Industrial Parkway Business Center. Total consideration was approximately $2.6 million.
Northwest Region
•Ash Joshi Discovers ‘Greener Acres’
Green Acres Farm Market and Catering, which has been serving Simi Valley and environs for over 41 years, has acquired .68 acres of commercial land adjacent to its existing Green Acres Market for future expansion, announces Ash Joshi, principal of Encino-based Capital Realty Solutions. Joshi, who represented both the buyer and seller Robin Salame, said Green Acres purchased two vacant parcels located at 2982 E. Los Angeles Ave. for an undisclosed amount. Green Acres is known for its full service meat, fresh produce, fine wines, and gourmet groceries.
AIR Quick
Bursts And Coming Events
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 link to your AIR brochure or flyer.
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
AIRMail - Online Demo is available on the AIR Website.
AIR has provided an Online demo featuring some of the major functionality benefits of the AIRMail program. Please click here to view the online demo.
| If you wish to unsubscribe from
AIRWaves, please reply to this message with the
word 'Unsubscribe' in the subject line. |
|
