Daum Commercial Directs $37 Million Sale of New Industrial Building in West Rancho Dominguez Submarket of Los Angeles County

Anthony Bergeman

WEST RANCHO DOMINGUEZ, CA – DAUM Commercial Real Estate Services has directed the sale of a brand new, state-of-the-art industrial facility totaling more than 112,075 square feet in the supply-constrained Rancho Dominguez submarket of Los Angeles County, California, for $37.32 million on behalf of the developer and landlord, a partnership between Panattoni Development Company and M. Payne Investments.

 Anthony Bergeman, Executive Vice President and Principal at DAUM Commercial Real Estate Services, initially directed the sale of the land to the developer, led the leasing of the new building upon completion of construction and now directed the disposition of the fully leased asset.

Joe Carroll

 “The South Bay area of Los Angeles County remains in high demand among industrial users, as well as investors due to its close proximity to major thoroughfares, providing convenient access throughout the entire L.A. Metro and greater Southern California region,” explains Bergeman, who notes that the tight Rancho Dominguez submarket is currently seeing vacancies hovering just above 3%.

 “The industrial sector is an asset class that has continued to perform despite the pandemic,” he explains. “This strong demand, coupled with the quality new construction of the asset and quality tenant allowed us to break the South Bay record of price-per-square-foot for the sale of a Class A industrial property for a large credit tenant.”

 Ryan Plummer

 The tenant, an industry leading multinational company, signed a long-term lease to occupy the entire property earlier this year, according to Bergeman, who also represented the lessor alongside Resource One Real Estate and Development’s Joe Carroll.

 “Our ability to work closely with the developer on identifying the initial parcel of land, tenanting the property and directing the sale of the final completed asset speaks to our strength as a true partner to our clients,” says Bergeman.

  “This sale is also demonstrative of our deep expertise in the LA market and ability to aid developers at every level to bring a property full cycle.”

 The industrial asset offers immediate access to the 110, 105, 405, and 91 freeways and close proximity to LAX and the Ports of Los Angeles and Long Beach. 

 Andrey Mindirgasov

Building also features include 19 dock-high doors, three grade-level doors, 32-foot clear height, 3,600 square feet of modern creative office space, an ESFR sprinkler system, drive-through capabilities, and major frontage on three streets.

 The property is located at 15100 South San Pedro Street in West Rancho Dominguez, California.

 The buyer was represented by Ryan Plummer, Andrey Mindirgasov, Sean Fulp and Mark Schuessler at Newark Group, Inc.

 Contacts:

 Katie Haga / Elisabeth Manville

Brower Group
(949) 438-6262
khaga@brower-group.com

 

Arbor Funds $18.2 Million Bridge Loan in College Park, GA

The Life at Avery Park apartments, College Park, GA

 

 UNIONDALE, NY – Arbor Realty Trust, Inc. (NYSE:ABR), a leading multifamily and commercial mortgage lender, recently funded a bridge loan in College Park, GA. The 220-unit property received $18.2M in acquisition funding. 

 Joseph Charneski of Arbor’s New York City office originated the deal.

 “We were pleased to assist repeat sponsor, Sureste Partners, LP, continue their growth in the metropolitan Atlanta area,” Charneski said. “This loan provided our borrower with the renovation dollars needed to implement their capital improvement plan and to reposition the property in the marketplace.” 

 Joseph Charneski

 The Life at Avery Park was built in 1970. The pet-friendly complex includes spacious two- and three-bedroom floorplans with granite countertops and stainless steel appliances.

 Surrounded by lush landscape, the multifamily property features a swimming pool with sun deck and new playground.

 It is conveniently located with office parks, Hartsfield-Jackson Atlanta International Airport, and public transportation nearby. 

  Contact:

  Bina Handa

Tel: 516.506.4229

bhanda@arbor.com