NAI Capital | Southern California Commercial Real Estate Blog » Industrial

NAI Capital Closes $3 Mil Industrial Deal in the Valley

socialnet@naicapital.com — Thu, 02 May 2013 21:14:57 +0000

CHATSWORTH, CA – Timothy P. Foutz with NAI Capital’s Encino office represented the Seller, LEC Properties, LLC, and the Buyer, Nordhoff SSA, LLC in the sale and purchase of a 24,150 sq. ft. industrial property located at 20433-20439 Nordhoff Street in Chatsworth, CA. The value of the sales transaction was slightly over $3 million.

This free standing concrete tilt up facility was formerly used as a CNC precision machine shop for over 10 years, until the owners decided to relocate the business to Ventura County. The 24,150 sq. ft. facility is located in a well-established commercial area that is being transformed from strictly industrial applications to that of both flex and office applications. The new owners will be completely remodeling the facility with new offices, a new exterior elevation, landscaping and parking design for a tenant that they have signed to a long term lease. There will be a small area in the rear section of the facility that will be available for storage purposes only.

Timothy P. Foutz with NAI Capital notes, “The redesign of the facility will improve not only this building but will enhance the value of the surrounding buildings as the area continues to evolve into more of a light manufacturing and office environment.”

The property is located in the NW San Fernando Valley, approximately 5 miles north of the Ventura (101) Freeway and 1.5 miles south of the Ronald Reagan (118) Freeway.

About NAI Capital

NAI Capital is a leading Southern California commercial real estate firm headquartered in Encino, California. With 14 offices throughout Los Angeles, Orange, Riverside, San Bernardino and Ventura Counties, NAI Capital is the Southern California affiliate of NAI Global, a premier real estate service network with 350 offices spanning the globe. Since 1979, NAI Capital clients have built their businesses on the power of our expanding network. Our extensive services include: multi-site acquisitions and dispositions, sublease, tenant representation, lease administration and audit, investment services, due diligence and related consulting and advisory services. To learn more, visit www.naicapital.com NAI Capital Brokerage DRE #00806840

Contact: Sharon Fitzgerald, Public Relations, 818.742.1655 sfitzgerald@naicapital.com

NAI Capital Represents Sky Zone Indoor Trampoline Park in Third Lease

NAI Capital — Mon, 15 Apr 2013 21:09:56 +0000

VAN NUYS, CA – Charles Carmichael with NAI Capital’s Encino office represented the Tenant, Sky Zone Van Nuys Capital Partners LLC, in the second consecutive lease for the franchise (and the third for NAI Capital). The 39,000 sq. ft. industrial property is located at 7741 Hayvenhurst Avenue in Van Nuys, CA and leased from the Landlord, 777 Heaven LLC. The value of the lease transaction was over 3 Mil.

Carmichael’s first lease for Sky Zone Indoor Trampoline Park was a 25,608 sq. ft. property located in Covina Town Center at 1314 N Azusa Ave, Covina CA, and it opened for business in Nov 2012. The second 37,560 sq. ft. lease was brokered by Lynn Coker from NAI Capital’s Palm Desert office and was located at 4031 Flat Rock Drive in Riverside, CA and opened in June 2012.

“These were all difficult deals to work on and the concept of an indoor trampoline park is new and the perceived risks were usually not consistent with the actual risks. Sky Zone is a leader in the industry for safety and once we got the owners understanding how they can operate, it was easier to move on to the financials. The biggest hurdle was finding a location with the required attributes for the client. This wasn’t a standard industrial box deal and it really took understanding the client’s needs. I looked in the San Fernando Valley for about a year before finding this location,” notes Charles Carmichael with NAI Capital.

Sky Zone Indoor Trampoline Park, creator of the world’s first all-trampoline, walled playing court, has announced the signing of its 100^th franchise in a press release on March 15, 2013. Charles Carmichael, broker with NAI Capital, has been instrumental in this expansion and plans for more leasing opportunities with the franchise in 2013 and beyond.

The new lease for Sky Zone is located in the San Fernando Valley and is one of the largest parks in their franchise. The property amenities include access to ample self-parking, SkyBox party rooms with overhead viewing, and air conditioning throughout.

“Opening our doors in Los Angeles is a milestone for Sky Zone and we look forward to offering this unique physical concept to all Angelenos,” said Jeff Platt, President of Sky Zone LLC. “We are passionate in presenting families with a safe and unique place to spend quality time together while encouraging healthy lifestyle choices.”

For future site considerations please contact Charles Carmichael at (818) 905-2400 or charles.carmichael@naicapital.com

About NAI Capital

NAI Capital Represents the Seller in a $4.4 Mil Industrial Sale in Rosemead, CA

NAI Capital — Wed, 19 Dec 2012 00:34:24 +0000

ROSEMEAD, CA — NAI Capital industrial specialists Howard Lee, Richard Horn, and Philip T. Attalla, from the Commerce office, represented the Seller, the Carson Family Trust, in the sale of a 53,768 sq. ft. industrial building located at 9056 Garvey Avenue, Rosemead, CA to the Buyer, Ms. Wei Yu. The value of the sales transaction was $4.4 Mil.

“NAI Capital would like to acknowledge the Seller for working with us to expedite the sale efficiently. By preparing the preliminary title report, disclosures and environmental documents, we were ready to consummate a transaction quickly when the time came,” states Philip Attalla.

“We were pleased that when the tenant, Marge Carson Inc., a furniture manufacturing company, reached the end of their lease agreement, we were able to secure the deal so the building was never completely vacated.” Richard Horn added.

“Working in the San Gabriel Valley for over ten years, it amazed me that the level of activity and interest in the property was so strong. The industrial market is definitely trending in a positive direction,” commented Howard Lee.

This 53,768 square foot building, built in 1974, resides on approximately 80,429 square feet of industrial land zoned LAM3. Located in the north-eastern part of the City of Rosemead, it has excellent freeway access to both the (60) & (10) Freeways. The building contains three ground level loading doors, three dock high positions, approximately 7,000 square feet of executive office space, and the electrical service of 800 AMPs of power.

The Attalla/Horn/Lee team, in a separate transaction, also assisted the exiting tenant, Marge Carson Inc., expand and relocate their business operations to a new industrial facility property in Pomona, CA.

About NAI Capital

Contact: Sharon Fitzgerald, Public Relations, 818.742.1655 sfitzgerald@naicapital.com

NAI Capital Purchased a 101,890 sq. ft. Warehouse from Prologis in Kent, WA for $7.5M

NAI Capital — Fri, 30 Nov 2012 23:18:05 +0000

Kent, WA — NAI Capital industrial specialists’ Philip T. Attalla and Richard Horn with the Commerce office represented the Buyer, Sweetener Products, Inc., in the purchase of a 101,890 sq. ft. industrial building located at 8030 South 194^th Street, Kent, Washington from the Seller, Prologis. The value of the sales transaction was $7.5 million.

The Buyer, Sweetener Products, Inc. is an industrial supplier of raw materials to the food industry based in Vernon, California. Sweetener Products purchased the property, which was not marketed “For Sale”, to facilitate an expansion within the subject building in which they already occupied approximately 40,000 square feet (a previous NAI Capital lease transaction). This will also facilitate additional growth when their business in the pacific northwest requires expansion.

“This was a major victory for our client, Sweetener Products, Inc., for two reasons. First, they were able to purchase this building at fantastic price in the rising industrial market of Washington state. And second, our client was able to achieve a below market occupancy cost for a food grade facility, creating a tremendous long term cost savings to the client over the next several years,” said Attalla. “Being aware of the long term expenses in a manufacturing operation is the only way that companies are going to survive in this economy. The real estate value achieved in this acquisition combined with low operating costs will prove to be beneficial for years to come,” Attalla continued.

NAI Capital, a member of the NAI Global Real Estate network, wishes to acknowledge its NAI Global partner, NAI Puget Sound Properties (NAI PSP) for their assistance in this transaction. NAI PSP is an outstanding commercial real estate brokerage with strong relationships and market presence in the pacific northwest.

“With the assistance of NAI Puget Sound Properties in this transaction, it minimized the client’s real estate operating expenses and demonstrated team effort. It is a very powerful thing as real estate experts, when we can take the needs of the client which are several thousand miles away, and still provide a high level of service, as if the building was in our own back yard. Our network allows us to perform real estate services throughout the country, and throughout the world while continuing our mantra of “outstanding service to our clients,” said Horn.

The 101,890 sq. ft. free standing building was built in 1978 and is located on approximately 5 acres of land zoned M1. The building features twenty dock high and four grade level loading doors and nine rail doors. The property has ample parking and professional landscaping throughout.

About NAI Capital

Contact: Sharon Fitzgerald, Public Relations, 818.742.1655 sfitzgerald@naicapital.com

NAI Capital Represents the Buyer in the Purchase of a 18,240 SF Industrial Property in L.A. for over $1.7 Million

NAI Capital — Tue, 27 Nov 2012 19:08:12 +0000

LOS ANGELES, CA – Ali Makoui with NAI Capital’s West L.A. office represented the Buyer, Cho & Pour Properties LLC, in the purchase of an 18,240 sq. ft. industrial property located at 2900 E. 11^th Street in Los Angeles, CA from the Seller, William W. Lynn and Isabel D. Lynn. The value of the sales transaction was over $1.7 million.

“My client is a successful entrepreneur in the garment wholesale and design business and chose this property because of its flexibility for his personal needs and potential for rental. My close relationship with my client allowed me to pin point his needs and offer him a property that met his specific criteria. He had been leasing for some time and needed to grow into a larger building to provide for his company’s growth. With today’s low prices and the option to take advantage of getting an SBA loan, I recommended that this was a good time to buy,” said Makoui.

The highly visible tilt-up free standing building has many prominent features including 2 dock high loading positions to accommodate 53’ containers as well as 45 parking spaces. The subject property is 18,240 SF which has 24’ clearance heights and sits on 33,325 SF of land and also resides in a potential State Designated Enterprise Zone which allows the Buyer exemption from certain taxes and provides other economic advantages.

The property is located on 11^th Street, in the heart of the Downtown L. A. Garment District and ideally situated near the 110/10/101 and 405 freeways.

About NAI Capital

Contact: Sharon Fitzgerald, Public Relations, 818.742.1655 sfitzgerald@naicapital.com

NAI Capital Sells American Mini Storage Property for $3.9 Million Dollars in Palm Desert

NAI Capital — Thu, 15 Nov 2012 00:06:31 +0000

PALM DESERT, CA – Stephen Grossman with NAI Capital’s Orange County office represented the Seller and the Buyer, both San Diego based companies, in the sale and purchase of American Mini Storage, a 57,500 sq. ft. self-storage property located at 39700 Garand Lane, Palm Desert, CA. The value of the sales transaction was close to $3.9 million.

“This rare self-storage opportunity in Palm Desert was a desirable acquisition for the buyer due to its modern construction and management upside potential. The property is located in a business park setting near commercial and retail businesses. The location near the intersection of Washington Street and Country Club Drive further enhanced the desirability of the asset,” said Grossman.

The property, built in 2000 is comprised of 57,500 rentable square feet of storage space demised into 411 units. Approximately 35% of the self-storage facility is climate controlled. The facility also has a large climate and humidity controlled wine storage area. The property is situated on 3.2 acres of improved land adjacent to Interstate 10. Other features include favorable street visibility, block & metal construction, steel roll-up doors, an on-site manager residence, key-pad gated entry, video surveillance and RV parking.

About NAI Capital

NAI Capital is a leading Southern California commercial real estate firm headquartered in Encino, California. With 14 offices throughout Los Angeles, Orange, Riverside, San Bernardino and Ventura Counties, NAI Capital is the Southern California affiliate of NAI Global, a premier real estate service network with 350 offices spanning the globe. Since 1979, NAI Capital clients have built their businesses on the power of our expanding network. Our extensive services include: multi-site acquisitions and dispositions, sublease, tenant representation, lease administration and audit, investment services, due diligence and related consulting and advisory services. To learn more, visit www.naicapital.com. NAI Capital Brokerage DRE #00806840

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NAI Capital Represents the Sale of Caliente Springs RV & Self Storage in Desert Hot Springs for $3.1 Million

NAI Capital — Fri, 09 Nov 2012 21:43:21 +0000

DESERT HOT SPRINGS, CA – Stephen Grossman with NAI Capital’s Orange County office in cooperation with C-III Realty Services, LLC represented an undisclosed Seller and Buyer in the sale and purchase of Caliente Springs RV & Self Storage a 139,033 sq. ft. self-storage property located at 15305 Little Morongo Road, Desert Hot Springs, CA. The value of the sales transaction was $3,100,000.

“This REO deal was a desirable acquisition for the buyer due to its close proximity to their other storage properties in San Bernardino and their regional administrative office located nearby in Indian Wells. The buyer will be upgrading the self-storage facility with modern amenities along with the 279 space RV storage section of the asset “said Grossman.

The property, built in 1994, is comprised of 88,600 rentable square feet of storage space demised into 637 units and over 50,000 sq. ft. of RV storage space demised into 279 spaces. The property is situated on 19 acres of land. Features include high traffic street visibility, all metal construction, steel doors, onsite residence, key-pad gated entry, video surveillance and both covered and open RV storage.

About NAI Capital

NAI Capital is a leading Southern California commercial real estate firm headquartered in Encino, California. With 14 offices throughout Los Angeles, Orange, Riverside, San Bernardino and Ventura Counties, NAI Capital is the Southern California affiliate of NAI Global, a premier real estate service network with 350 offices spanning the globe. Since 1979, NAI Capital clients have built their businesses on the power of our expanding network. Our extensive services include: multi-site acquisitions and dispositions, sublease, tenant representation, lease administration and audit, investment services, due diligence and related consulting and advisory services. To learn more, visit www.naicapital.com. NAI Capital Brokerage DRE #00806840

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NAI Capital Represents Rexford Industrial in Lease of 76,993 SF Industrial Building

NAI Capital — Fri, 09 Nov 2012 18:39:44 +0000

SAN FERNANDO, CA – In one of the larger lease transactions to occur in the San Fernando Valley Industrial market this year, David Young, Chad Gahr, Todd Lorber and Chris Jackson, all Senior Vice Presidents of NAI Capital’s Encino office, represented the Landlord, Rexford Industrial, in the leasing of a 76,993 square foot industrial building located at 1050 Arroyo Street, San Fernando, CA to PureTek Corporation. Purchased by Rexford Industrial’s RIV V Fund in 2011, NAI Capital was retained in 2012 to market the property both for lease and for sale.

“For decades, the building had been utilized as a plastic injection molding facility. Following the purchase of the property by Rexford Industrial, we advised them on the scope of capital improvements that would make the building suitable for today’s end users. The property underwent an extensive rehabilitation and renovation which included the addition of 5 new dock high loading positions, a new truck court, a complete remodel and upgrading of 5,600 square feet of office space, new T-5 lighting, and the addition of skylights throughout the building”, said David Young.

These capital improvements are just one example of Rexford Industrial’s strategy to add value at every stage of acquiring, operating or improving its industrial properties. Rexford Industrial, a leading real estate investment firm, focuses on acquiring, managing and developing multi-tenant industrial properties in infill markets throughout Southern California.

The new tenant, PureTek Corporation, is a premier manufacturer of pharmaceuticals, over the counter remedies, supplements and personal care products. Headquartered in San Fernando, California, 1050 Arroyo will serve as a secondary manufacturing location. PureTek Corporation was represented by Mark Berman of LesMark Strategic Real Estate Services.

About NAI Capital

NAI Capital is a leading Southern California commercial real estate firm headquartered in Encino, California. With 14 offices throughout Los Angeles, Orange, Riverside, San Bernardino and Ventura Counties, NAI Capital is the Southern California affiliate of NAI Global, a premier real estate service network with 350 offices spanning the globe. Since 1979, NAI Capital clients have built their businesses on the power of our expanding network. Our extensive services include: multi-site acquisitions and dispositions, sublease, tenant representation, lease administration and audit, investment services, due diligence and related consulting and advisory services. To learn more, visit www.naicapital.com. NAI Capital Brokerage DRE #00806840

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NAI Capital Sells Industrial Property in Ontario, CA for $3M

NAI Capital — Thu, 04 Oct 2012 22:10:59 +0000

ONTARIO, CA – Nicholas Chang and Richard Lee with NAI Capital’s Ontario office represented an undisclosed Seller, in the sale of a 45,202 SF industrial property located at 1200 Wanamaker Avenue to the Buyer, Astro Properties LLC. The outside brokerage was Apex Real Estate Solutions Inc., and the value of the sales transaction was over $3 million dollars.

“One of the unique features of this property is that it was divided equally into two units – one occupied by the owner and the other occupied by a long term tenant of over 20 years. We were able to find a well-capitalized buyer who agreed to purchase a larger size building with an existing tenant; the long-term tenant will help offset the additional expense purchased,” noted Chang and Lee.

The property is located in the Ontario California Commerce Center (CCC) which is a master planned 1,400 acre industrial community built in 1986. The freestanding building features 1,600 amps with 277/480 volts of power, six true dock high loading doors, and 22’ clearance. The building is also fully sprinklered and has skylights throughout to allow in natural light. Select companies located within the CCC can qualify for various Economic and Foreign Trade Zone (FTZ) benefits.

The property is ideally situated near the 10 / 15 freeways and is located in the Eastern portion of the City of Ontario, directly adjacent to the Ontario International Airport. Totaling almost 500 million square feet, the Inland Empire is considered to be one of the largest and most robust industrial markets in the Country.

About NAI Capital

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NAI Capital Cooks up a $5.3M Sweet Deal in Torrance

NAI Capital — Tue, 04 Sep 2012 17:53:37 +0000

TORRANCE, CA – Warren Noack and Kimberly Noack with NAI Capital’s South Bay office represented the Seller, The Weber Family Trust, in the sale of a 59,000 SF industrial bakery located at 22417 S. Vermont to the Buyer, Venice Baking Company. The cooperating brokerage was handled by Cushman & Wakefield. The value of the sale transaction was $5.3M.

“I originally represented Henry Weber of Bavarian Specialty Foods in the acquisition of the property in 1983 when he began the process of converting the traditional industrial building into a bakery and food processing plant. Bavarian Specialty Foods occupied the premises for many years but ultimately the business was sold and the real estate remained in the hands of Mr. Weber. After managing the real estate through several food related tenants over the years, Mr. Weber was ready to sell the asset. The initial challenge was a problematic tenant in possession and finding an investor willing to take the risk. Once the tenant was no longer in possession, we were able to shift our focus to target the owner/user market,” said Warren Noack. Kimberly Noack added “The timing was ideal as the Buyer, Venice Baking Company, was prequalified for financing and motivated to secure a larger facility.”

The bakery/food processing plant has many attributes that were attractive to the new owners, Venice Baking Company, including a 59,000 SF warehouse with 13,496 SF dedicated to two story office space and situated in an excellent location in the South Bay. The property also includes an ample 6,500 SF freezer with 560 pallet position racking system, a 1,000 SF work in process freezer, a 2,100 SF cooler and another 840 SF split between a cooler and pre-cooler on-site. Meeting the power demands, the property is equipped with a phase 3, 4 wired system with 1600 Amps and 277-480 volts of well distributed power. The warehouse capabilities also include 3 dock high and 1 ground level loading positions, 18’ clearance, a paved loading area and a fenced-in yard with 120 parking spots available for employees. The kitchen facilities consist of a lab for research and development, a test kitchen, a lunchroom, and lockers.

The property resides in the South Bay and is situated next to the (110) Freeway and just south of the (405) Freeway.

About NAI Capital

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