Daum Commercial Negotiates 82,000-SF Lease of Santa Monica, CA Industrial and Office Building to Electric Vehicle Company

DONE DEAL: 82,000-sf industrial warehouse
and office property leased to an electric
 vehicle company on a 121,200-SF lot
in Los Angeles County submarket
of Santa Monica, CA

 SANTA MONICA, CA – DAUM Commercial Real Estate Services has successfully negotiated the lease of an 82,000 square-foot industrial warehouse and office property on a 121,200 square-foot lot in the Los Angeles County submarket of Santa Monica, California, to an electric vehicle company.

The total consideration of the lease is approximately $12 million, according to Michael Collins, Vice Chairman at DAUM Commercial, who represented the lessor alongside DAUM Executive Vice President David Freitag.

 Michael Collins

“Our Client, a private owner with whom DAUM has a long-standing relationship, had a rare commercial property available for lease in the tight Santa Monica submarket,” explains Collins.

“The building is situated on a corner adjacent to heavily trafficked Interstate 10. By strategically marketing the property and leveraging its prime location, we were able to attract significant interest and several offers, ultimately securing a long-term lease to a top automotive business.”

Collins notes that the lessor also owns a neighboring 50,000 square-foot property, which is currently fully leased to Mercedes-Benz, driving up the appeal of the newly leased asset and presenting future expansion opportunities. Additional high-profile neighbors include Lexus, Amazon, HBO, and Universal Music.

David Freitag

Freitag adds: “This lease transaction was a true win-win for both parties. The lessee will be situated in a highly visible location near several prominent creative, entertainment, distribution, and service companies, as well as retail amenities, while our Client benefits from a quality, established tenant.”

The property, which is also in close proximity to the Santa Monica Airport, Los Angeles International Airport, and 17^th Street/SMC light rail station, features 18’ clear height, 2,000 amps of power, warehouse restrooms, and a wrought-iron fenced yard.

The asset is located at 1100 Colorado Avenue in Santa Monica, California.

www.daumcommercial.com. 

CONTACTS:

Katie Haga / Elisabeth Manville  
Brower Group  
(949) 438-6262 
khaga@brower-group.com 

http://www.raamconstruction.com/