Daum Commercial Helps Dedeaux Properties Sell Seven Industrial Buildings in Los Angeles County for $50 Million

Dennis Sandoval

CITY OF INDUSTRY, CA – DAUM Commercial Real Estate Services has directed the individual sales of seven buildings that together comprise Echelon Business Park, a newly-constructed industrial campus in the City of Industry, California on behalf of the seller and project developer, Los Angeles-based industrial development firm Dedeaux Properties. The total consideration of all sales was approximately $50 million. 

The seven freestanding buildings, which range in size from 27,438 to 43,166 square feet, received offers on building plans well before the project broke ground, according to Dennis Sandoval, Executive Vice President and Branch Manager in DAUM’s City of Industry office.

Bryan Sandoval

“The rapid sale of these assets demonstrates the pent-up demand for industrial ownership opportunities in Los Angeles County, particularly in infill industrial submarkets like the San Gabriel Valley,” says Sandoval, who directed the transactions along with DAUM Executive Vice President Robert Dipre and Associates Bryan Sandoval and Kurt Yacko.

“The buildings were under contract since last year, before the foundation for the project was even laid. 

"We eventually received back-up offers on each of the properties and ultimately sold to seven separate buyers, including a mix of distribution and light manufacturing users.”

Robert Dipre

Industrial vacancy in the San Gabriel Valley consistently hovers just above 1.5 percent, with smaller, newer, dock high product vacancies often at less than one percent, notes Sandoval.

“After directing the sale of the land parcel to Dedeaux Properties last year, we worked closely with the developer to outline the strategy on this project,” explains Sandoval. “We understood the tremendous demand for industrial space and recognized that most new industrial developments in the region are over 100,000 square feet.
"We advised Dedeaux to leverage the market demand by constructing smaller-sized facilities in the 25,000 to 45,000 square-foot range, rather than a single large building. 

Kurt Yacko

"These buildings immediately filled a void in the market for modern product suited to smaller distributors and manufacturers, meeting the significant demand for property ownership in the small industrial sector.”

The buildings feature ample dock-high and ground-level loading, large truck courts, ESFR sprinklers, high-speed fiber optic cabling, and two-story office space. 

The Echelon Business Park campus also offers 60, 10, and 605 Freeway access allowing convenient routes to the Ports of Los Angeles and Long Beach.

Echelon Business Park is located at 801-821 Echelon Court in City of Industry, California.

  

For more information, please contact:

 Elisabeth Manville / Jenn Quader

Brower Group

(949) 955-7940

emanville@brower-group.com

HFF announces the sale of mixed-use property in Red Bank, NJ

Mixed-Use Building, Broad and Front Streets,
Downtown Red Bank, NJ

Marc Duval

FLORHAM PARK, NJ –– HFF announces the sale of a 27,033-square-foot, generational, mixed-use property in the New York City-area community of Red Bank, New Jersey.

The HFF team marketed the property on behalf of the seller, Broad Street Realty Association, LLC.  Saxum Real Estate purchased the property free and clear of existing debt.

The iconic three-story building is situated at the corner of Broad and Front Street in downtown Red Bank, an affluent town named “Third Best Town in the U.S.” by Smithsonian Magazine and approximately 25 miles south of New York City.

The property’s transit-oriented location allows access to New York via train, ferry and bus. 

Jose Cruz

With a “Walker’s Paradise” Walk Score® of 96, the property’s location in a vibrant downtown area places it among theaters, art galleries, restaurants, retailers, several yachting and rowing clubs and luxury waterfront homes. 

 2-10 Broad Street consists of ground-floor retail fully leased to Urban Outfitters and upper-floor boutique office space.

  The property has views of the Navesink River from the upper floor and a rear terrace for amenity space.

The HFF investment advisory team representing the seller included director Marc Duval, senior managing director Jose Cruz, managing director Chris Munley and senior director Stephen Simonelli.

Chris Munley

“We continue to see investors targeting amenity-rich markets that are transit friendly and within close reach of urban areas that will be attractive to millennials,” Duval stated.

HFF and Holliday GP Corp. ("HFF") are licensed New Jersey real estate brokers.

Saxum Real Estate is a vertically integrated privately-held real estate investment and development company that serves as owner, operator and developer of all assets in its portfolio. 

Saxum specializes in creating value through repositioning and developing assets in transit-oriented markets with high growth potential.  

Visit http://www.saxumre.com for more information.

For more information, please contact:

KIMBERLY STEELE

HFF Digital Content/Public Relations Specialist

(713) 852-3420

ksteele@hfflp.com