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/

 

RAAM Construction Breaks Ground on $33 Million Affordable Multifamily Housing Development in Palmdale, CA

Rendering  of planned Juniper Grove 
affordable multifamily housing development
in Palmdale, CA

 Palmdale, CA – RAAM Construction, a general building construction firm specializing in multifamily and historic preservation projects throughout California, has broken ground on the construction of an affordable multifamily housing development in Palmdale, California.

 The 123,410 square-foot property, Juniper Grove, will consist of 101 apartment units in a three-story wood-frame building in Palmdale, a low-income area where budget-friendly housing for families is scarce, according to Richard Lara, President and CEO of RAAM Construction.

 Richard Lara

 

Juniper Grove is expected to be completed in June 2022. The development is located at 150 East Avenue R in Palmdale, CA.

 “The need for affordable multifamily housing continues to grow significantly, especially now due to the COVID-19 pandemic,” says Lara.

  “This demand for affordable housing is extremely prevalent in Palmdale, as occupied housing units currently sit at 92.4 percent. Juniper Grove will greatly serve the local community by providing families with brand-new, beautifully designed residential units that fit within their budgets.”

 RAAM is working closely with Meta Housing Corporation, a developer of affordable housing communities for families and seniors, to deliver the new residences for qualified low-income families in the Palmdale market. 

 Valued at $33,342,717, the project is being developed with the help of a construction loan from the City of Palmdale, Pacific Western Bank and the Los Angeles County Development Authority.

 “This new affordable housing project is demonstrative of our continued commitment, along with our long-time partner Meta Housing, to provide budget-friendly housing in regions throughout California where it is needed most,” says Lara.

 “RAAM has a long history of working with development partners that are committed to delivering high-quality affordable housing in areas of need.”

 Lara continues: When construction is completed, Juniper Grove will contain 49 one-bedroom apartments, 27 two-bedroom apartments and 25 three-bedroom apartments that are fully furnished.

 The three-story wood frame building will be built to LEED standards and will have solar panels. The development will also include common-area amenities such as a community room, office area and an art studio, which will be occupied by a full-time art staff offering art lessons.

The development is situated in close proximity to the Antelope Valley Freeway, which offers access to the border of the city of Santa Clarita to the north and the Los Angeles neighborhoods of Granada Hills and Sylmar to the south.

 Additionally, the development is located near restaurants including In-N-Out Burger, McDonalds and Jack-in-the-Box; two schools including Palm Tree Elementary School and Yucca Elementary School.

 CONTACTS:

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

http://www.raamconstruction.com/

 

Stos Partners Sells 70,224-SF Industrial Property for $13 Million in an Off-Market Deal in Carlsbad, CA

 

             SOLD: This 70,224 square-foot industrial property 

             in the San Diego County submarket of Carlsbad, CA 

            for $13 million in an off-market transaction.

 

SAN DIEGO, CA – Stos Partners, a privately held commercial real estate investment firm, has sold a 70,224 square-foot industrial property in the San Diego County submarket of Carlsbad, California for $13 million in an off-market transaction.

CJ Stos

The firm acquired the asset for $9.7 million in August 2019, according to CJ Stos, Principal of Stos Partners. 

  “After purchasing this cash-flowing asset with an in-place lease at an attractive basis, our initial business plan was to hold the property long term and explore future repositioning opportunities,” explains Stos.

  “Ultimately, we were approached by an institutional-grade buyer after just over a year of ownership, who presented us with a strong offer that we could not turn down.”

 According to Jason Richards, Partner at Stos Partners, this transaction reflects the firm’s ability to remain nimble: “As one of the most active commercial real estate investors in Southern California, we are in tune with the market and can quickly evaluate and strategically act on opportunities like these.” 

 Jason Richards

 The property is located in Carlsbad’s Industrial Corridor. Currently fully leased to a go-kart racing tenant, the building is well-suited to a range of light industrial uses.

Jay Boyle, Executive Vice President at Stos Partners, adds: 

“The fact that we were able to sell this asset for 34% more than our purchase price, after just over 18 months and implementing only very minor landscaping upgrades, speaks to the strength of our close relationships within the market and the continued high demand and growth trajectory of the industrial sector, despite the uncertainty of this past year.”

 Stos Partners initially purchased the asset in a joint venture with Boston-based private equity firm Long Wharf Capital. Situated in close proximity to Carlsbad’s McClellan-Palomar Airport, the property is located at 6212 Corte Del Abeto in Carlsbad, California.

Jay Boyle

 About Stos Partners

Stos Partners is a privately held commercial real estate investment and management firm that invests in real estate directly and in partnership with high net worth and institutional investors. 

With a track record spanning approximately one billion in transactions to date, the firm targets the most competitive risk-adjusted returns in the marketplace through opportunistic acquisitions, strategic redevelopment and ground-up development of both institutional and small-to-mid-cap commercial properties.

Headquartered in San Diego, California with an office in Orange County, California and Laredo, Texas, Stos Partners’ local expertise and longstanding relationships translate into the ability to source, fund and close transactions quickly and profitably.

 

 CONTACTS:

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

www.stospartners.com

www.longwharf.com

 

 

Daum Commercial Completes Sale of 10-Acre Parcel in Deer Valley, Phoenix, AZ

           SOLD: Pinnacle Peak, a speculative,
three-building, 136,000-SF industrial business
park in the Deer Valley submarket of Phoenix, AZ

 

PHOENIX, AZ – DAUM Commercial Real Estate Services has completed the sale of a 10-acre land parcel located at the Southwest corner of 15th Avenue and Pinnacle Peak Road in the Deer Valley submarket of Phoenix, Arizona, for $6.4 million.

Robert Lundstedt

Robert Lundstedt, First Vice President at DAUM Commercial, represented the seller and procured the buyer, Wadsworth Development Group, in the transaction.

 At the site, Wadsworth is developing a speculative 136,000 square-foot industrial business park consisting of three buildings, which is being exclusively marketed by Lundstedt, DAUM Executive Vice President Skip Corley, Jr. and DAUM Associate Chase Heinemann.

 “As there continues to be an influx of tenants looking to expand or relocate the Phoenix area, which is located within a 17-hour drive of anywhere in the Southwest, developers are hungry to bring competitive industrial facilities to the market to capitalize on this high demand,” says Lundstedt.

Skip Corley, Jr.

 “The Deer Valley submarket in particular, which saw vacancy rates compress to under 5% in Q4, is well positioned for further growth.”

 “The industrial sector continued to perform exceptionally well throughout the past year,” explains Lundstedt. “Based on our close relationships and knowledge of activity in the local market, we anticipate a quick lease-up of the new development to quality tenants.”

 The development, which is slated to be complete in August 2021, is located approximately 20 miles north of Downtown Phoenix, less than 2 miles from Interstate 17 and Loop 101, and within close proximity to Loop 303, which offers direct access to West Coast ports. 

Chase Heinemann

 The facilities at the new project will feature 28’-32’ clear height, grade level loading, 227/480-volt power and above market parking ratio.

 In addition to the sale of the 15th Avenue/Pinnacle Peak Road land parcel, Lundstedt has directed nine other land transactions in Deer Valley within the last 12 months, totaling $38.4 million, and is currently maintaining 15 land listings, all in the Deer Valley submarket.

 

CONTACTS:

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

www.daumcommercial.com.

 

 

Lee & Associates Expands into Nashville, TN with New Satellite Office

 Jeffrey Rinkov

 

NASHVILLE, TN – Lee & Associates, a leader in commercial real estate services throughout North America, announces the opening of a new satellite office in Nashville, Tennessee. 

Dave Howard

The office will specialize in industrial, office, investment, and land brokerage, with plans to strategically recruit teams that will grow their capabilities in the market. 

The Lee & Associates Nashville team of professionals currently includes William Sisk, Brett Wallach, and Chad Matthews.

Sisk and Wallach, both current Lee & Associates professionals, have relocated to Nashville from Ontario, CA and Newport Beach, CA respectively. 

William Sisk

Our Lee & Associates Atlanta office will provide resources and assistance to ensure that the new Nashville office is well-supported during its initial start-up period, until it transitions to a freestanding office with local leadership and resources. 

 

"We are incredibly enthusiastic about the market in Nashville. It has been on our strategic expansion roadmap and allows us to continue growing our presence in the Southeast.

 

"The first-class support provided by our Atlanta office will allow us to aggressively recruit seasoned agents in the market who are attracted to our principal/ownership-led structure," said Lee & Associates CEO, Jeffrey Rinkov. 

Brett Wallach

"We are excited about the Nashville satellite office opening, as well as Lee & Associates' continuing growth and expanded presence in the Southeast.

 "Many of our clients in Atlanta have needs in Nashville, and now we can deliver services to them in that market as well," said Lee & Associates Atlanta President, Dave Howard. 

 CONTACT:

 Pamela Murphy

Lee & Associates
(832) 315-0219
pmurphy@lee-associates.com

Ryan Companies Wraps Second Phase of Construction at Oakmont Point, a Suburban Chicago Westmont Office Complex

Dr. Claudia P. Welke

  

WESTMONT, IL — Ryan Companies US, Inc., a national leader in commercial real estate services, announced it has completed Phase II of the Oakmont Point office park redevelopment just west of Route 83 and south of 35^th Street in Westmont, a western suburb of Chicago.

 

This phase consisted of a complete core and shell reconstruction of a two-story, 50,000-square-foot building at 750 Oakmont Lane.

 

Curt Pascoe

Compass Health Center has leased the entire building and has begun interior build out. The mental health care provider will open this summer as the second anchor tenant in the 18-acre office complex.

 

“The pandemic and unusual project site constraints posed some challenges for us,” said Curt Pascoe, Ryan Companies director of real estate development. “Considering the positive impact Compass Health could make in the lives of residents and workers in the community, we were committed to navigating those hurdles to deliver on time.”

 

The building was designed by Chicago-based                      Wright Heerema Architects.

Oakmont Point, 750 Oakmont Lane, Phase II
of the Oakmont Point office park redevelopment 
just west of Route 83 and south of 35^th Street
in Westmont, a western suburb of Chicago.

 

“Compass Health Center’s mission is to provide the community with the psychiatric care needed for children, adolescents, young adults and adults suffering from depression, OCD, trauma or anxiety,” said Dr. Claudia Welke, Compass Health co-founder and chief medical officer.

 

 “Compass has become a nationally recognized organization for its success and innovative comprehensive, specialized care in a warm and engaging environment.

 

"We are excited to extend our therapeutic reach to the western suburbs. We have been treating many patients from this area for the past 11 years and bringing our facility closer will allow greater success and convenience.”

 

 CONTACTS:

Paula Widholm, pwidholm@taylorjohnson.com,

 (312) 267-4525

Gretchen Muller, gmuller@taylorjohnson.com,

(312) 267-4511

 

www.compasshealthcenter.net.

www.ryancompanies.com.

 

Derek Jeter Lowers Price on Family Castle on Greenwood Lake in New York to $12.75 Million

Jeter  Family Castle on Greenwood Lake in New York 

 

GREENWOOD LAKE, NY -- More unique than almost anything else on the real estate market today and expansive enough for family, extended family, teammates and favorite friends, retired New York Yankees star and first-ballot MLB Hall of Famer, Derek Jeter, has dropped the price on his castle-like resort home on Greenwood Lake in New York by $2 million.

Previously listed in 2018 at $14.75 million, it is now back on the market at $12.75 million.

Derek Jeter

Known locally as “The Castle” and originally built in 1903 by New York Doctor Rudolph Gudewill for his wife, the estate is actually two castles - the master castle with a connected tower and a guest castle.

Greta Garbo

After Gudewill died, John and Julia Tiedemann bought the castle, where they lived with their 13 children including an adopted son, William Connors. Connors was later to become Jeter’s maternal grandfather.

                                      George Herman (Babe) Ruth

 Jeter spent many of his childhood summers at the castle swimming, playing sports and chores. 

The Tiedemanns sold the estate in 1996, but when it came back on the market in 2002, Jeter bought it and began a long and expensive restoration.

Hannah Davis 

Greenwood Lake, where the borders of New Jersey and New York join and just 50 miles from New York City, has been a popular tourist destination since the late 1800s attracting wealthy vacationers and celebrities such as Greta Garbo and Babe Ruth.

Mary Lovera 

Ruth had a home in Greenwood and spent his free time speeding around the lake in his boat and stopping at Maplewood Inn for a drink or two or three.

Jeter Castle entrance

Always known as a place to spot celebrities, the lake has attracted its share of New York Yankee players and fans. The seven-mile lake, restaurants and rural atmosphere attract frequent weekend visitors from New York City, New Jersey and Philadelphia.

Jeter Castle side entrance

Encompassing 12,590 square feet of living space between the main and guest castles, the Jeter compound includes four indoor kitchens, one outside kitchen and an extra-large, infinity-edged pool.

Living areas include six bedrooms, seven full and five half baths, great room, four kitchens, multiple stone fireplaces including one on the terrace, dens, game room, sunroom, formal dining room, office, gym and family room with a bar.

Jeter Castle Living Room

The turret opens out to a widow's walk, which is duplicated on the guest house, providing beautiful lake and wood views. There are extensive gardens, a Statue of Liberty replica and a four-car garage.

Even with a large number of guests, there is always a quiet place to spend some alone time, according to TopTenRealEstateDeals.com.

With his busy schedule as part owner and CEO of the Miami Marlins, Derek oversees the day-to-day operations of the team that surprised most baseball experts by making the MLB playoffs in 2020 and then knocked out the Chicago Cubs in the first round.

Jeter Castle game room

 

Jeter also manages a plethora of other business interests and since his marriage to model Hannah Davis in 2016, is also a family man helping to raise their two young children.

 

Unable to spend time in his castle on the lake, it makes sense to pass it on to a family who will enjoy it as much as his own family has over the years.

The listing agent is Mary Lovera with Wright Bros. Real Estate, Nyack, New York.

Photo credit: Wright Bros.

Source: mlovera.wrightinnyack.com

YouTube:  https://www.youtube.com/watch?v=ef9sIJDVsTo 
YouTube Credit:  Sean Evans, @evvo1991 backtothemovies.com/
Source:  TopTenRealEstateDeals.com

CONTACT:

Genelle C. Brown
Content Manager, Media Division
TopTenRealEstateDeals.com
Phone:  336-459-3728
Twitter:  @toptenrealestat
facebook.com/toptenrealestat  

 

$19 Million Flagler Health + Village at Nocatee, FL Project Completed

Rendering of Flager Health + Village at Nocatee, FL

DEERFIELD BEACH, FL–Flager Health + Village at Nocatee is a new 40,000 square foot multi-story medical office building. The health village offers residents a variety of medical services.

Crawford-Tracey Corporation, the largest contract glazier and unitized curtain wall manufacturer based in Florida, was selected to supply and install their Pro-Tech 7SG curtain wall  system, with Guardian’s SunGuard® SN54 provided by Oldcastle Building Envelope. 

The Pro-Tech 7SG is a 7.0 inch four-sided structurally glazed curtain wall system.

Ray Crawford

“It was an exciting project to work on,” says Ray Crawford, President, Crawford-Tracey Corp. “We partnered with RS&H architects and the General Contractor at Stellar Construction to bring the biophilic design to life. 

The finished project aims to connect visitors and staff to the environment surrounding the Nocatee Town Center.”

The finished project includes a green moss wall to cleanse the air and bring the natural environment into the design. It also incorporates expansive exterior views to the 1-acre park through Crawford-Tracey’s curtain wall.

Flager Health + Village at Nocatee offers services including primary care, orthopedics, concierge medicine, and laboratory services. It also hosts a landscaped park, a Kookaburra Coffee Shop, health coaching, community classes, and more. 

Crawford-Tracey’s corporate headquarters is located in Deerfield Beach, Fla., with a second facility in Jacksonville, Fla. 

CONTACTS:

 Sarah Stiehr (sarah@ryan-pr.com)

Janet Ryan, janet@ryan-pr.com, (314-882-8860)

 www.flaglerhealth.org/

www.crawfordtracey.com, or call 954-698-6888