Daum Commercial Completes $3.49 Million Sale of Rare Available Property in Tight Los Angeles Airport Submarket

Automotive retail building and lot, totaling more than
11,560 square feet, located adjacent
to Los Angeles International Airport (LAX)

 LOS ANGELES, CA – DAUM Commercial Real Estate Services has completed the sale of rare automotive retail building and lot, totaling more than 11,560 square feet, located adjacent to Los Angeles International Airport (LAX) in Los Angeles, California, on behalf of the seller, according to Kurt Yacko, Associate at DAUM Commercial.

 Dennis Sandoval

 Yacko represented the seller, a private partnership, in the transaction alongside DAUM Executive Vice President Dennis Sandoval and Associate Brian Sandoval.

 The buyer is airline and airport ground services handling company S.A.S. Services Group, Inc.

 “The seller had a rare available space that could be adapted to a range of various uses in a high-traffic area near LAX,” explains Yacko.

 “DAUM was able to secure this listing based on our deep understanding of the submarket and the businesses that operate in the area, despite competition with several other brokers.”

 According to Yacko, the property’s immediate access to the new Midfield Satellite Concourse expansion of LAX’s Tom Bradley International Terminal made it an ideal fit for S.A.S. Services Group’s operations.

Kurt Yacko

“We sourced all-cash offers from several interested parties, demonstrating the strong demand for space in the LAX area,” says Yacko, who notes that the West/South Los Angeles submarket posted industrial vacancies in the 2% range in Q4.

 “While the transaction required lengthy negotiations and experienced some delays due to the pandemic, we ultimately closed with a highly satisfactory price for the seller.”

 The asset features a 1,114 square-foot building sitting on 10,454 square feet of land in a corner location in close proximity to a new parking and car rental development.

 The agent representing the buyer was Heba Abulazm of Real Estate Source INC. The asset is located at 9220 S. Sepulveda Boulevard in Los Angeles, California. The total consideration of the sale was $3.49 million.

Contacts:

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

 www.daumcommercial.com

JLL Expands Tenant Rep Brokerage Expertise in Los Angeles

Jim Schoolfield

 LOS ANGELES, CA, Feb. 10, 2021 – JLL continues to expand its brokerage expertise in the Los Angeles area.  The firm announced that Jim Schoolfield has joined the firm as Executive Vice President.

Schoolfield will be based in the firm’s new Century City office, focused on working with corporate occupiers on their commercial real estate needs in West Los Angeles and throughout the region.  

He will also be working with JLL’s Kevin Bender and Blake Searles, co-leaders of the firm’s Office Tenant Representation Group in Los Angeles, to expand the practice.

Kevin Bender 

"With the evolving economy, pandemic and workplace, companies now more than ever need a strategic partner to navigate their short-term and long-term real estate needs,” said Peter Belisle, JLL Southwest Market Director. 

"Jim is the perfect fit to help satisfy the needs of our occupier clients as corporations begin to return to work and continue to evaluate their overall office footprint.  

"We will continue to work to identify and hire key personnel that can add value to our clients."

Blake Searles

Schoolfield joins JLL from a commercial real estate services firm where he served on its global advisory and transaction services group, responsible for strategic planning, corporate lease and purchase/sale negotiations and portfolio optimization. 

Schoolfield has over 16 years of commercial real estate experience totaling more than $1 billion in project value.

Schoolfield earned a Bachelor of Arts in Economics from the University of North Carolina, Chapel Hill.  

Additionally, Since 2015 he has served as chairman of the St Jude Children’s Hospital Invest in Hope event here in Los Angeles.

Peter Belisle

  Schoolfield is also currently on the board of the Executive Forum for ACG LA.

Contact:

David Ebeling

Phone: +1 949 861 8351

Email: david@ebelingcomm.com 

jll.com.

Intracorp Homes, Led by Locally-based Teams, Making Steady Progress on New Luxury Townhome Community in Newport Beach, CA

 

 The Isle at Mariner Shores, Newport Beach, CA

NEWPORT BEACH, CA– Real estate development company Intracorp Homes has announced an update on the advancing construction of 36 new three-story townhomes at The Isle at Mariner Shores, a new community located in a prime Newport Beach neighborhood adjacent to Dover Shores and near Eastside Costa Mesa that is estimated to open in Spring 2021. 

 The project consists of several Newport Beach-based companies selected for this development, including a new sales team led by at Arbor Real Estate Professionals, giving this development Matt Genova an advantage in its deep knowledge and understanding of the area.

 

Matt Genova 

“When developing a new project, our goal is to bring value to both the city and its residents and deepen the interaction between our residents and local businesses,” says Brad Perozzi, President of Intracorp Southern California. 

 “Matt Genova has an impressive background in marketing and sales as well as significant real estate experience in Newport Beach and its surrounding communities, which made him and Arbor Real Estate a choice partner for this project.”  

 

Brad Perozzi

According to Perozzi, the decision to bring on The Genova Team came from Intracorp’s desire to thoughtfully form a local beach community team that would bear extensive knowledge about the area. 

 Additional partners include Newport Beach-based architectural firm Bassenian Lagoni and interior design team Blackband Design, and Urban Arena landscape architects based in Costa Mesa.

 For more information, or to be added to Intracorp’s interest list and receive updates on the project, please visit https://www.theislemarinershores.com/ or contact Matt Genova at 949.478.2231.

 Contacts:

Miki Akil / Carrie Freitas

Kitchen Table PR

832.260.4414

miki@kitchentablepr.com

Stan Johnson Company Represents Seller in Disposition of Industrial Distribution Center Near Greenille, SC

Rob Gemerchak

 CLINTON, SC -- Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has announced the sale of a 190,000-square-foot industrial distribution center fully leased to PL Developments, a leading manufacturer, packager and distributor of over-the-counter pharmaceutical products and consumer healthcare goods.

 The property is located about 45 miles southeast of Greenville, South Carolina at 28966 Highway 76 East in the city of Clinton.

  The seller, Piselli Enterprises Inc., was an individual investor from North Carolina, and they were exclusively represented by Stan Johnson Company’s Rob Gemerchak.

  The asset was purchased by a South Carolina-based individual investor. The facility traded for $3.7 million at an 8.39 percent cap rate.

 “The strong market interest we received from prospects nationally is a testament to the current demand for stabilized distribution assets,” said Gemerchak, Director in Stan Johnson Company’s Toledo, Ohio office.

 “Despite the relatively short remaining lease term, investors were attracted to the quality of the tenant and the strategic importance of this location within their supply chain.”

 The recently upgraded building was originally constructed in 1970 and sits on 25 acres. PL Developments has occupied the center for the last 18 years.

 This location supports two of the tenant’s nearby manufacturing and packaging facilities and is in close proximity to Interstates 26 and 385.

Contact:  

David Ebeling

 Ebeling Communications

 (949) 278-7851

  david@ebelingcomm.com

 www.stanjohnsonco.com