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| Michael Collins |
Demonstrating their innovative and highly
collaborative approach, the group facilitated the initial purchase of the
up-leg asset and subsequent reverse exchange of the down-leg for
a combined transaction value of $9.5 million.
In Q3 2022, Daum began the process of assisting long-time member of the
Southern California business community, Rusher Air Conditioning—a 77-year-old
company that designs and installs commercial heating and cooling systems—in a
strategic reverse exchange.
 |
| Dustin Hullinger |
“Our team quickly worked to source an ideal 16,680 square foot building in an excellent location in Lawndale that suited their needs,"
explains Michael Collins, Vice Chairman and Director of
Daum’s Capital Markets Group.
"But more than just identifying the right property, we
advised the buyer on a unique approach, securing financing with favorable terms
and successfully facilitating a ‘reverse’ exchange.
“The benefit owners have in collaborating with
Daum is our extensive expertise across the transaction stack.
"We’ll work creatively to get the deal
done. In the end, we are rewarded for this success and very recently
represented Rusher in the sale of their former headquarters on Normandie Avenue
in Torrance, which closed escrow on May 17, 2023.”
 |
| Brad Levin |
The property is accompanied by two buildings
totaling 10,140 square feet with a large, gated yard and grade level loading.
The central location offers immediate access to
Interstate 405, 110, and 91 Freeways with close proximity to the ports of Los
Angeles and Long Beach.
The up-leg asset is located at 4435 W. 153rd Street
in Lawndale, California. The 34,072
square foot industrial property includes a 16,680 square foot building with 7
ground level doors, 12-foot height clearance, and a large, fully fenced
concrete yard.
The complete reverse exchange transaction was
facilitated by Collins, and Dustin Hullinger, Associate Vice President
at Daum’s Capital Markets Group, with the assistance of Brad Levin,
Executive Vice President and Co-Branch Manager of Daum’s South Bay Office, in
the marketing of 19626 S. Normandie Ave.
Contact:
Hanna
Kokuashvili / Kiera Moran
The Smart Agency, Inc.
(949) 438-6262
hkokuashvili@thesmartagency.com
