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| 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.
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| 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.”
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| 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.
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| 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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