Christopher J. Destino of Lee & Associates Commercial Real Estate Services recently represented Royal Plaza Textiles in the acquisition of this high quality modern industrial facility. The buyer is planning to relocate from La Mirada to Corona to continue their textile and linens distribution business. After two plus years of searching and negotiating, the family, with the help of Christopher and his team, found and secured this opportunity to purchase the 80,000 SF concrete tilt-up building in an Off-Market transaction. The property features 26' clear, 16 dock doors, and approximately 6,000 sf of recently renovated office area.
Buzz on the Street
Whether a large portfolio or individual property sale, industrial buildings in Southern California continue to trade at high price levels. Furthermore, opportunistic owners or sellers continue to push values for properties they will sell if they can “get their number.” But the buzz on the street from Buyers (and Tenants) resembles a more cautious optimism. While still optimistic about future growth both in their business and in long-term property values, Buyers and Tenants are seeing some flattening in the price appreciation curve and are less willing to aggressively chase deals by repeatedly increasing their offering price. Quality industrial property in convenient locations still receives strong interest from the market, but there may not be three (3) or four (4) serious qualified buyers at the table, as we have experienced over the past few years, especially on offerings pushing the upper limits on price.
Last month we began to look at some Good Real Estate Moves in Any Market Condition (read Part I here), and now let’s continue the discussion with three more considerations to be made regularly to maximize the performance of your real estate.
As we embark on 2019, our objective as your advisor is to help you achieve success with your real estate, and to provide you with the benefits of our consulting platform which focus on seven key considerations. In Part I we looked at items 1-4, and in Part II we will look at items 5-7. Click the Read More Link Below.
You may have just signed a new lease, renewed an old lease, bought or sold a building last year and are saying to yourself “I don’t need to worry about any real estate decisions this year.” Or you may be saying to yourself, “I need to make one or more real estate decisions this year, and I don’t know where to start.” Whether you fall into the first or the second category, or are somewhere in the middle, there are considerations to be made regularly to maximize the performance of your real estate.
As we embark on 2019, our objective as your advisor is to assist you to achieve success with your real estate, and to provide you with the benefits of our consulting platform which includes the following key considerations:
Christopher J. Destino of the Destino Industrial Team within Lee & Associates is pleased to announce the sale of the 24,000 sf Industrial building located at 16450 Phoebe Avenue, La Mirada CA for $4,800,000 ($200 psf). The Property features prominent freeway visibility along the I-5 at the border of Los Angeles and Orange County. The property was sold by a local investor who intends to execute a 1031 Exchange and deploy his capital proceeds in another state besides California. Taxation, business climate and market dynamics all played pivotal roles in the Seller's decision.
The Buyer, Blackcrow Industries, intends to renovate the 1964 concrete tilt-up industrial building for his electrical equipment manufacturing business.
Christopher Destino of the Destino Industrial Team at Lee & Associates represented AmorePacific US, Inc. in the leasing of the 111,679 SF Industrial building at 3300 E. Birch Street in Brea California.
The relocation from Corona to Brea provided AmorePacific with nearly double the warehouse capacity, an improved employee pool, more efficient transportation and delivery service options, and reduced drayage costs.
3300 E Birch St. is a modern 2017 Construction concrete tilt-up industrial building with 32' ceiling clearance, a concrete truck court and ESFR sprinklers.
The Destino Industrial Team also represented Danne Montague-King Company ("DMK") in their acquisition of a 30,036 SF Industrial/Flex building located at 10420 Pioneer Blvd. in Santa Fe Springs.
Christopher represented DMK in their previous lease, and they had long sought an opportunity to purchase a property for their stable and growing business. After years of searching the ideal property became available at the right time, and the Team quickly focused and secured the deal with and for our client.
Making a real estate decision can be an exciting time, especially in today’s market. For Buyers/Tenants, there are opportunities that a new facility provides, such as a better location, improved amenities, or utilizing a more efficient layout. Selling or renting an owned property can dramatically improve your cash flow situation. In today’s market there are other factors that must also be taken into consideration when deciding on renting, buying, or selling. Let’s briefly look at three (3) considerations when evaluating your decision.
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!
Christopher J. Destino, SIOR, a Principal at Lee & Associates, is an engaging, responsive professional who enjoys working closely with his clients and helping them succeed.