Done Deals: Jan 9, 2025

Thursday, January 9, 2025

Daum Commercial completes new seven-year retail lease in Brea, CA for Chinese jewelry company's first U.S. location

Nadia Sandoval

BREA, CA – DAUM Commercial Real Estate Services, a leading provider of commercial real estate services including brokerage, tenant representation, consulting, leasing, sales, and property management, has completed a new seven-year retail lease at 1065 Brea Mall in Brea, CA.

Dennis Sandoval

The lease, which was secured on behalf of Chow Tai Fook and Gem Hooray, a Chinese 24-karat gold jewelry company, represents the retailer’s first location in the United States.

"The DAUM team’s trusted relationship with an industrial-sector client was instrumental in securing the first of several U.S. locations for this new retail venture,” says Dennis Sandoval, Executive Vice President/Principal for DAUM Commercial.

“Because of the client’s positive experience with our team, the principal’s wife and her overseas partners specifically chose Bryan Sandoval and Nadia Sandoval, Associates in DAUM’s Los Angeles office, to assist them in identifying and securing the perfect space for their initial American jewelry store.

excellent relationship with Brea Mall’s owner, Simon Property Group, that can help bring other retail businesses into the center as well. This is a prime example of how our firm is truly in the relationship-building business.”

The Brea Mall retail space is situated in Brea, California, a small, affluent suburb of Orange County – a market with a vacancy rate of 4.2% as of Q3 2024. The transaction represents DAUM’s ability to arrange prime commercial real estate leases on behalf of tenants even in markets where availability is tight, says Sandoval.

“Mall retail pads in Brea are extremely competitive and challenging to secure,” notes Sandoval. “Our team drew upon its deep knowledge and connections in the industry to identify and complete this transaction to the satisfaction of our client. This is the beginning of a series of successful retail leases we anticipate securing on behalf of Chow Tai Fook and Gem Hooray.”

Contacts:

Elisabeth Manville and Lexi Astfalk
The Smart Agency, Inc.
949.438.6262
emanville@thesmartagency.com

jll.com.

JLL Capital Markets handled the sale of Princeton Oaks Phase I, a 513,000 SF, Class A industrial park in Orlando, FL to LaSalle Investment Management

Taylor Osborne

MIAMI, FL –  JLL Capital Markets handled the sale of , a 513,560-square-foot, Class A industrial park in Orlando, FL. JLL represented the seller, an affiliate of PGIM Real Estate, in the sale to LaSalle Investment Management.

Cody Brais

Completed in 2018-2019, Princeton Oaks Phase I consists of five state-of-the-art, multi-tenant industrial buildings currently 100% leased to a diverse roster of 15 high-quality tenants, targeting the highest demand users for industrial spaces in the Orlando market.

The property is strategically located in Orlando's Northwest Orange County submarket, just minutes from downtown Orlando and major highways including John Young Parkway, SR-408 and I-4.

The property's location provides access to over 3.75 million consumers within a 60-minute drive, making it highly attractive for last-mile logistics and regional distribution operations.

The JLL Capital Markets Investment Sales and Advisory team was led by Managing Director Luis Castillo, Senior Director Cody Brais and Associate Taylor Osborne. The leasing efforts for the property are spearheaded by Foundry Commercial’s Justin Ruby and Joey Woodman.

“Princeton Oaks represented a rare opportunity to acquire a trophy industrial asset of scale in one of the nation's top-performing markets,” said Castillo. “With its state-of-the-art specifications, strategic infill location and significant mark-to-market potential, this property is well-positioned to capitalize on Orlando's explosive industrial growth and deliver strong returns for years to come.”

Justin Ruby

“As more tenants seek proximity to urban centers and labor pools, developments such as Princeton Oaks are poised to leverage the market’s momentum, offering optimal spaces that match the needs of today’s users,” added Brais. “This trend signals a promising trajectory for Orlando, making it a critical hub for industrial investment in the Southeast.”

About LaSalle Investment Management

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, LaSalle manages US$84.8 billion of assets in private and public real estate equity and debt investments as of Q2 2024.

LaSalle’s diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. LaSalle sponsors a complete range of investment vehicles, including separate accounts, open- and closed-end funds, public securities and entity-level investments.