Wednesday, February 21, 2018

Daum Commercial Directs Lease of Los Angeles County Industrial Facility to Expanding Olive Oil Manfacturer


Dennis Sandoval


MONTEBELLO, CA  (Feb, 21, 2018) – DAUM Commercial has completed the full-building lease of a 54,648 square-foot warehouse in Montebello, California on behalf of the lessor, Emery Investments, a Toronto-based privately owned real estate development and property management company. Dennis Sandoval, an Executive Vice President in DAUM’s City of Industry office, represented the lessor along with Kevin Sandoval, Kurt Yacko, and Bryan Sandoval, all with DAUM Commercial.

Kevin Sandoval
The tenant, Sunset Olive Oil, will maintain its occupancy in its existing processing plant in Montebello, and is expanding into this warehouse to meet additional needs for storing and distributing raw materials and its finished products.
“This expansion and lease was a win-win for Los Angeles County, and for our client,” says Sandoval. “Keeping manufacturers in the LA Basin is a priority for local leaders, especially as many businesses expand out of state, into Texas, Arizona and Nevada.  In this case, we worked closely with the City of Montebello and LA County to identify the right tenant for this property, which will create approximately 20 new jobs in the region.”

Bryan Sandoval
The property was recently upgraded with a new roof, new lighting, updated landscaping, refreshed office space with skylights, and both interior and exterior improvements.  Additional features include four dock-high loading doors, 68 parking spaces, and a secure private yard.
“A stand-alone industrial property with these features is a rare find in the current market,” says Sandoval.  “Drawing upon our knowledge of the submarket and our expertise in this product type, we were able to proactively market the building and garner multiple competitive offers within 30 days.”
Sandoval anticipates a continued rapid transactional pace as 2018 progresses.
Kurt Yacko
“Industrial leasing and sales are poised for a strong year,” he says.  “The Central/Southeast Los Angeles industrial market posted steady occupancy increases in Q4 of 2017, moving from 2.1-percent vacancy to 1.9-percent vacancy. In addition, average asking rents increased 8.1-percent year-over-year.  This is robust growth for the market and represents excellent growth potential for industrial lessors in the year ahead.”
The property is located at 1215 Washington Boulevard in Montebello, California.  The lessee was represented by Mark Repstad with Realty Advisory Group.
For more information, please contact:

Lindsay Mackay / Elisabeth Manville
(949) 955-7940
lmackay@brower-group.com

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