Tag Archives: Daum Commercial

BH Properties, WEB

BH Properties acquires Shasta Beverages warehouse in Phoenix

BH Properties, a Los Angeles-based firm that specializes in acquiring and repositioning challenged or distressed real estate properties, has purchased the Shasta Beverages, Inc. warehouse facility, located at 301 S. 29th St. in Phoenix, for $1.9 million. The all-cash deal closed in 18 days.

“This property presented a prime investment opportunity as we are actively pursuing properties in Arizona to grow our industrial portfolio,” said Steve Jaffe, executive vice president and general counsel for BH Properties. “Located in a high-traffic location, the warehouse is ideal for any number of businesses looking to expand in the Phoenix area and can accommodate a variety of uses. The purchase also highlights our ability to identify an asset, review all aspects and close rapidly which, in this case, was of concern to the seller.”

Centrally located near the Phoenix Sky Harbor International Airport, the 62,776-square-foot, two-story warehouse features three car spots for rail service and seven grade level truck doors with triple wide truckwell and dock levelers.

The demand for warehouse facilities continues to increase in order to meet the needs of not only online retailers, but also call centers and non-traditional tenants, looking for space near high-traffic transportation hubs. Reports indicate that vacancy rates have decreased in the second-quarter, due to a surge in net absorption across the Greater Phoenix area.

Kirk Jensen, executive vice president for DAUM Commercial Real Estate Services, represented BH Properties and Shasta Beverages in the transaction.

3148 N. 38th Drive - PR Photo, WEB

Quality Bedding Inc acquires industrial building in Phoenix

DAUM Commercial Real Estate Services announced that it represented the buyer in the purchase of a 13,178 sq. ft. industrial building located in Phoenix.

Trevor McKendry of DAUM’s Phoenix office represented Quality Bedding, Inc. in this sale. The building is located at 4132 N. 38th Drive.

Quality Bedding, Inc has been manufacturing bedding for over 20 years and plans to
continually grow their operations with the recent acquisition.

John Reinhardt of Industrial Property Specialists sold the property on behalf of IPSDBP5 Investment, LLC, and is a member of the selling entity.

CoStar

Glendale office building sells for $3.5M

DAUM Commercial Real Estate Services announced that it represented the buyer in the
purchase of a two-story 27KSF office building situated on 6.3 acres of land located at
18185 N. 83rd Avenue, Glendale, Ariz. The purchase price was $3,507,925 ($129.92/sq.
ft.)

Benjamin Johnson of DAUM’s Phoenix office represented AEK Property 7, LLC in the acquisition of the project. The property is zoned PAD. The development was constructed in 2005. The buyer plans to lease up the remaining suites and hold as an investment for years to come.

Capital Asset Management represented the Seller, FNBN Properties, LLC, of Salt Lake City.

5225 S. 31st Place

DAUM Commercial Real Estate Release Recent Transactions

DAUM sells Southern Gardens Industrial Park
DAUM Commercial Real Estate Services announced that it represented the seller, RJK Realty LLC, in the sale of a 28,918 SF industrial building located in Phoenix.
Steve Bodeman of DAUM’s Phoenix office represented the seller in this $1.3M transaction. The building is located at 5225 S. 31st Place in the Southern Gardens Industrial Park.
This building, along with the property to the south at 5261 S. 31st Place, was originally built for Blackhawk Metals. The seller, Joe Huerta, subsequently sold the business to DiMatrix who leased both properties from him for five years. Upon DiMatrix vacating, Huerta hired Steve Bodeman of DAUM to market the property.
Michelle Gardner of Shell Commercial represented the undisclosed buyer.
5261 S. 31st Place was recently sold to Design and Stone International, Inc., who was represented by Mike Kasulaitis at Voit Real Estate.
Steve Bodeman has been involved in many transactions in Southern Gardens Industrial Park since 1984.

DAUM represented buyer, seller in Deer Valley land sale
DAUM Commercial Real Estate Services announced that it represented the both the seller and buyer in the sale of a 4.13 acre parcel in Deer Valley area of Phoenix, Arizona.
Carl Johnson, Ben Johnson, & Bob Lundstedt of DAUM’s Phoenix office represented both the seller, Coastline RE Holdings, and buyer, Pathfinder TRF, in this 4.13 acre purchase. Total purchase price was $756,000.
This CP/GCP (light industrial) zoned land is located at the southwest corner of Happy Valley Road and 15th Avenue.
Pathfinder TRF is an RRS Company (Randy Stolworthy) entity. RSS plans to construct a 57,000 SF, Class-A manufacturing facility on the site. Since 1991, RRS & Company has been a market leading sponsor of real estate investments and real estate finance in the Southwest.

DAUM Represents Mattress Firm in Move to Tolleson
DAUM Commercial Real Estate Services announced that it represented the lessee in the lease of a 79,880 SF portion of a 197,526 sq. ft. distribution building located at 9180 W. Buckeye Road, Tolleson, Arizona.
Steve Bodeman of DAUM’s Phoenix office represented the lessee, Mattress Firm, Inc., in this lease. The building is a distribution building owned by First Industrial LP, based in Chicago.
Pat Feeney of CBRE represented First Industrial, lessor, in this transaction.

DAUM represented buyer, seller in Phoenix land sale
DAUM Commercial Real Estate Services announced that it represented both parties in the sale/purchase of a 6.9-acre parcel of land located at the southeast corner of Camelback Road and 45th Avenue, Phoenix.
Carl Johnson, of DAUM’s Phoenix office, represented both buyer and seller. The sellers, Wingate Trust and Pardo Trust both of Phoenix, and buyer, R &S Mattress also of Phoenix.
R & S Mattress is planning to build a 140,000+ SF showroom, warehouse and office at this location. Building should begin in November 2014. Builder will be DL Withers
Total consideration of this sale was $1,063,000 ($3.54/SF average).

DAUM represents Huddleston Trucking
DAUM Commercial Real Estate Services announced that it represented the tenant in the lease of a 19,800 SF industrial building located at 1710 E. Grant Street, Phoenix.
Rich Sica of DAUM’s Phoenix office represented Huddleston Trucking in this lease. The building will be used as a warehouse trucking facility.
Huddleston Trucking has been in business for 25 years primarily involved with TSA approved operations. The company was recently acquired by Warren Neugarten, who continues the operation. Tom Louer of Lee & Associates represented the landlord, Miller-Valentine.

rsz_1700wdrake

Local Investor Purchases Tempe Industrial Property

 

PTD Properties of  Tempe purchased a ±20,420 SF general industrial building at 1700 W. Drake Dr. for $1.475M through a lease/purchase arrangement.

Pete Klees with Cassidy Turley Arizona’s Industrial Group and Paul Boyle and Rick Danis with Cassidy Turley Arizona’s Capital Markets Group represented the seller, C&B Properties of Del Mar, Calif.

The buyer was represented by David Wilson of Daum Commercial during the transaction.

Built in 1986, and recently renovated, the office/warehouse building will house the buyer’s counter top business.

rsz_estrella_logistics_center

Jones Lang LaSalle Completes Land Sale For 600K SF Spec Industrial Building

The Phoenix office of Jones Lang LaSalle has completed a 38-acre land sale in Phoenix’s Southwest Valley that, by early 2013, will be home to approximately 600,000 SF of speculative, state-of-the-art industrial space.

Managing Directors Anthony J. Lydon, SIOR, and Marc Hertzberg, SIOR, of Jones Lang LaSalle represented the property buyer, Seefried Industrial Properties, Inc. The seller’s agent is Rich Sica of Daum Commercial.

The site, located at the NEC of 63rd Ave. and Sherman Way in Phoenix, was acquired by a venture between USAA Real Estate Company and Seefried Industrial Properties. The venture will proceed with the development of Estrella Logistics Center, a speculative $30M, 592,500 SF, cross-dock distribution building.

“Seefried and USAA are specialists in developing, leasing and managing premier industrial logistics projects,” Lydon said. “They are experts at knowing what to build and where to build it, and they have chosen an exceptional time to deliver speculative industrial product in Phoenix.”

According to Jones Lang LaSalle research, there is approximately 6 MSF of current user demand in Phoenix for requirements of 100,000 SF or more; however, supply has not kept up with demand. As such, the market experienced an anaemic first quarter, with just 92,598 SF of net industrial absorption as compared to a total 6.9 MSF of net industrial absorption in 2011.

“The only local industrial construction that we’ve seen completed this year falls in the single-tenant, build-to-suit category,” Hertzberg said. “This does little to satisfy this market’s broader demand for large blocks of space. This will be the key driver for new Phoenix speculative industrial development in 2012.”

Jones Lang LaSalle reports that demand for larger industrial spaces in the Southwest is the strongest among national retailers, food and beverage distributors, solar and e-commerce businesses. This is due in large part to Phoenix’s proximity to California, its 30 to 40% lower business costs, and the availability of quality land that is also near the market’s many accessible transportation lines.

The future Estrella Logistics Center site will be fully improved with all of the modern logistics amenities expected by the supply chain industry. The project sits just south of Interstate 10, between the 59th and 67th avenues full interchanges.

Construction on Estrella Logistics Center is slated to begin in October and will be completed by May 2013. For occupancy, Seefried and USAA plan to pursue corporate employers seeking a scalable space solution.