Are you busy getting to the next project, going to the next place, making the next deal, getting the answer you were waiting for, driving to and from activities, and on and on? How can we appropriately weave in “waiting” for anything? Well, just wait and we will tell you… But seriously, when you are involved in industrial real estate transactions, there is a time for action and a time for waiting, and knowing which is which can make all the difference.
In today’s blog we will go over a few common scenarios and explore where waiting comes into play.
Christopher J. Destino of Lee & Associates Commercial Real Estate Services is pleased to announce the completion of this 2018 Brand New Construction concrete tilt up industrial building in the city of Santa Fe Springs, CA. Christopher represented the Buyer in the sale transaction valued at nearly $3,000,000.
The Buyer, a local family owned and operated business specializing in industrial electrical equipment, had determined long before the building was ever built that this was going to be their new home. We helped them navigate the negotiations, escrow and closing.
Click here for more about the sale transaction!
In today’s market with about a 1% vacancy rate and high demand, landlords (and sellers) of industrial warehouse space find themselves in a very desirable position. How do those conditions play out in negotiations? How can a potential tenant or buyer understand these dynamics best to help win them the deal?
Landlords and sellers are looking for three things:
(a) Best price & terms,
(b) Most convenient & timely transaction, and
(c) Confidence in the tenant’s or buyer’s ability to perform.
Therefore, tenants and buyers must be prepared to demonstrate their strength in the following areas:
Christopher Destino of Lee & Associates represented the Seller of this hard to find Cerritos Industrial building. This is a rare free standing building with a huge yard and dock high loading. after going through over 10 offers, the Seller selected a qualified buyer and closed the transaction. Subsequently, Christopher assisted the tenant in securing a new location in the city of Santa Fe Springs.
For more information on the sale, please click this link to the press release.
Jacob Samuel Destino was born this month, and joined brother Levi (born 2016) and mom to further fill our home. We are grateful and thankful that both mommy and baby are health and happy.
In today’s rapidly paced real estate environment, it is vital for market participants to have the right expectations so that they can save time, money and needless frustration. Whether buying, selling or leasing, it is important to understand the key areas of price, timing, availability related to any transaction.
So how do principals looking to make a real estate transaction avoid these frustrating pitfalls and make deals come together? There are several things you can do....
If you have been presented with the proposal for an “Off-Market” transaction, as defined as a transaction that is not presently listed on the multiple listing service(s), you, as either Buyer or Seller, must weigh the pluses and minuses of such a transaction. In this article you will find insights to help carefully consider this.
"Can negotiating an Off-Market deal benefit the owner, the buyer, the agent, or all parties equally? "
In today’s real estate market, it can be very difficult to find industrial property, and it can be even more so to find it on a short term lease. Many landlords are not interested in doing shorter term leases because they prefer to get longer commitments, especially as rates are on the higher end for the past number of years.
We are pleased to share this success story with you.... (click below to read more)
Christopher Destino of Lee & Associates Commercial Real Estate Services, Inc. - Orange office is pleased to announce the successful completion of the acquisition of the 19,500 SF freestanding industrial property located at 341 N. Main Street in Riverside, CA. Christopher represented the buyer, G&B Holdings, LLC, as they acquired this property to further grow and advance their avocado distribution business. Headquartered in Newport Beach, the buyer considered this location at the intersection of the 60, 91, 215 and 15 freeways a strategic distribution channel to serve Los Angeles, Orange and Riverside counties.
The property is an extremely well maintained 2006 concrete tilt up construction industrial property. Situated on a master planned industrial complex, the subject property featured 4 dock high loading doors, 1 ground level loading door, 24' ceiling clearance, 2-story office, and a private fenced yard.
In this competitive real estate environment, the client was most pleased with Christopher's diligent responsive work and follow through from beginning to end.
After recently attending the AIR CRE Contract & Forms Review Seminar in Southern California, where two members of the AIR Forms Committee shared insights and practices for using the AIR CRE documents in our commercial real estate practice, I want to provide some ‘take away’ for you. AIR CRE (http://www.aircre.com/) is an established organization where “… Members have unparalleled access to a system of market research, listings services, contracts and legal resources, networking, and education” tools which are all suited to serve the Commercial Real Estate marketplace, both brokers and principals. The documents covered in detail during this seminar included the Net & Gross Leases, Purchase Contract & Escrow Instructions, Property Information Sheet, Amendments and Addendum, as well as over 40 other forms the AIR CRE publishes. While not all landlords, principals and market participants utilize these useful forms the lessons learned from this seminar are important in any transaction.
Christopher J. Destino, a Principal at Lee & Associates, is an engaging, responsive professional who enjoys working closely with his clients and helping them succeed.