Orange County Region Brokers, Property Valuations Highlight Next Wednesday's 'Networking'
Top
Story
What’s happening to real estate valuations? It’s a subject dear to everyone’s heart these days. Orange County region brokers and guests, and a leading banking industry expert who will comment on this key topic are headliners for next Wednesday’s (Oct. 22) “AIR Broker Networking Event” at the dramatic Pacific Club in Newport Beach. The event runs from 5:30 p.m. to 7:30 p.m. Complimentary cocktails and hors d’ Oeuvres will be served. The event is FREE. The Pacific Club is located at 4110 MacArthur Blvd. |
Featured speaker for the evening, who is certain to receive undivided attention, is Everett (Allen) Greer, real estate risk assessment senior vice president and director of research for Bank of America. |
Greer said a core element of his “Wall Street and Commercial Real Estate” presentation will be the impact of recent events on the capital markets, including the Commercial Mortgage Backed Securities market and REIT market, and what this means for real estate evaluations. He will also comment on national rent and price trends. |
In his BofA post, Greer manages the bank’s Real Estate Research web site, which provides associates throughout the bank access to nearly all major data sources for commercial real estate nationwide. He has published numerous market forecast reports, served on commercial real estate risk rating committees and created various ad hoc market forecast/portfolio analysis reports. For event information, call (213) 687-8777 or visit www.airea.com. |
Disclosure of CAM Charges Benefits Brokers
Special Member Benefit
Underlining its adherence to accuracy in comparing industrial property listings, while extending its commitment to services and benefits to brokers, AIR recently initiated a program of gathering Common Area Maintenance (CAMs) charges for each submitted listing. |
“CAMs, including insurance, taxes, property management, and maintenance fees, are part of the rent. So brokers need to disclose these charges in order to properly compare properties, and to advise your client what a building actually costs. If you don’t, then no one really knows what you’re asking rate is,” said Brad Vickrey, past president of AIR.
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Providing CAM charges, which are typically shared by all tenants, says Vickrey, is all about “transparency”, and better relationships with your fellow brokers who will then have a better understanding of a property’s asking rate. |
Margo Castaneda, AIR’s Multiple Manager, and her research team recently began soliciting CAM charges via phone calls to brokers for each submitted listing. Vickrey encourages brokers to cooperate in this effort. Castaneda said that AIR’s listings began including a CAM charges field about 60 days ago. Henceforth, she said, CAM charges will be displayed in the ‘”NOTES” section of listing documents. She also emphasized that Monique Figueroa, Operations Manager in AIR’s Orange County office, is conducting the same program for the Orange County and Inland Empire markets. |
Market Savvy, Client Goals Key Issaians’ Success
Member Profile
When David Issaians talks about market knowledge and discovering his client’s end goals, you sense the sincerity and enthusiasm in his tone. And as a young Associate with Coldwell Banker Commercial North County, with partner Emil Akopian, Issaians defies his brief stint in commercial real estate with rapid success. Partly because he’s got some serious “real estate DNA” working for him. But even more because of his own drive. |
Issaians, who focuses on industrial and some office properties in the Glendale, Burbank and North Hollywood areas, joined Coldwell Banker Commercial NC shortly after it opened in 2007, and became an AIR member shortly thereafter. David’s father George Issaians and his Coldwell Banker Commercial NC partners Greg Barsamian and Bill Ukropina were all previously with CB Richard Ellis before leaving to form the new company. George Issaians is executive vice president of Coldwell Banker Commercial NC. |
“Growing up around my dad’s profession, and hearing about it whether at home or on vacation gave me an appreciation for commercial real estate. What appealed to me was the freedom, the people skills and the business relationships that the profession provides. I think this has a lot to do with the pride that Emil and I take in gaining and providing knowledge about our specific market. We’re not hard sell. Rather, we attempt to uncover our clients’ real needs and try to meet them,” David said. “I think it’s significant to note that Emil and I grew up in and spend a great deal of time in the area that we focus on,” he added. |
Among David’s recent deals was representation (with Akopian) of Ewing Irrigation in its lease of a 15,500 sq. ft. industrial facility at 4552 W. Colorado Blvd. in the Glendale area of City of Los Angeles. Consideration was $5 million. |
A graduate of Cal Lutheran University with a Bachelor of Science degree in Business Administration with an emphasis on management, David is single and resides in Glendale. He is a candidate for the CCIM designation. In his free time, David enjoys playing tennis, traveling, and playing cards with his friends. |
AIR
Member Deals
Orange County
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AIRs Jamison, Hefner Collaborate on $4.8 Million La Habra Sale
Jason Jamison, SIOR, principal of GM Properties of Whittier, announces his representation of the David Harris Trust in its acquisition of a 31,101 square foot, two-story office building located on 2.7 acres at 1901 Lambert Rd. in La Habra for $4.8 million. Mike Hefner, SIOR, of Voit Commercial represented Albany Synergistics, the seller. Jamison said the buyer plans to renovate and lease up the frame with stucco and wood veneer building which was approximately 60 percent occupied at close of escrow.
• Voit’s Zehner, Tomaselli Handle Both Sides of $6.7 Million Sale
Fisher Printing Inc., a full-service printing company, has acquired a 54,000 square foot industrial building situated on 2.3 acres of land at 231 N. Pacific St. in Orange for $6.75 million, announce Mitch Zehner and Louis Tomaselli, senior vice presidents in Voit Commercial’s Anaheim Metro office. Zehner and Tomaselli represented both the buyer, and the seller, Vanderplow Properties.
Southeast Region
•Colliers Directs $2 Million Industrial Sale in SF Springs
Colliers International has directed the sale of a 15,500 square foot industrial property in Santa Fe Springs. The property, located at 12814 Lakeland Rd., sold for $1.9 million, approximately $25 PSF. Alex Blecksmith of Colliers represented buyer Evergreen Capital Investments, LLC. Greg Jenkins of Penta Pacific Properties, represented the seller, William O. Rosentreter & Family.
•Graves On a Roll
Keith Graves of Colliers International’s Torrance office reports his representation of Horizon Tire Inc. in its move from Compton to 51,184 square feet of industrial space at 5510-5650 Grace St. in City of Commerce. Horizon is a Chinese owned truck tire distributor. Alex Blecksmith of Colliers’ Commerce office assisted Graves on the tenant rep side. Jeff Sanita, John McMillan, and David Hasbrouck of Cushman & Wakefield represented the owner, the Magellan Group. Consideration for the five-year lease was approximately $1.7 million.
South Bay
•Heger Announces $5.1 Carson
Thomas A. Holland, executive vice president-principal of The Heger Company reports that B/E Aerospace Inc. has leased a 56,463 square foot warehouse/distribution facility at 1351 Charles Willard St. in Carson. Holland and Mike Salmon of Madison Partners, represented the lessee, while Jeff Schumacher and John Schumacher of CB Richard Ellis represented the Carson Companies, the lessor.
•Taugner, Prior Need No Schooling
Virco Mfg. Corporation, considered America’s leading maker and supplier of furniture and equipment for K-12 schools, has signed a five-year $19.1 million lease extension for its existing 559,000 square foot U.S. headquarters at 2027 Harpers Way in Torrance, reports Todd Taugner, SIOR, a partner in The Klabin Company’s Torrance office. Taugner and David Prior, SIOR, president of The Klabin Company, a member of CORFAC International, represented both Virco and AMB Property Corporation, the property owner. Virco’s headquarters is a concrete tilt-up structure featuring 50,640 square feet of office space, 31 feet of warehouse clear height, and 35 truck high loading positions. Approximately 425 people are employed at the site.
Northwest Region
•Luxury Car Interior Firm Leases in North Hollywood
Colliers International brokers Brent Weirick, past AIR President John DeGrinis, SIOR, and Patrick DuRoss represented WCV Properties, the lessor, in the leasing of 11128 Gault St. in North Hollywood, a 30,488 square foot facility, to GAHH, LLC. David Issaians and Emil Akopian of Coldwell Banker Commercial North County represented GAHH, a leading manufacturer and distributor of high end luxury car interiors and convertible tops. The five-year lease is valued at $1.5 million.
AIRQuality
Plaudits to Golf Leaders
| After helping to foster another sell-out turnout for the‘AIR Golf Classic”, the winners in the various golfing categories are worthy of recognition and AIRWaves lists them as follows: |
| LOW GROSS TEAM: 1st place, John Geraci, Michael Lee, Tucker Brown, Casey Kirkman; 2nd place, Chuckie Lyons, Jack Schlaifer, John Sullivan, Jim Center; 3rd place, Ralston Trauger, Jason Vargas, Joel Mostert, and Robert An. PRE-TOURNAMENT LONG DRIVE: Men’s-Casey Kirkman, 337 yards; Women’s-Irene Meltzer, 178 yards. CLOSEST TO THE PIN CONTESTS: Ike Hole #5, Ed Wittemore; Ike Hole #9, Tucker Brown; Ike Hole #15, Rusty Smith. |
| LONG DRIVE CONEST: Men’s, Stephen Campa; Women’s, Irene Meltzer. STRAIGHTEST DRIVE CONTEST, Ike Hole #8: Robert An; Ike Hole #10: Tom Sheets. PRE-TOURNAMENT 50/50 PUTTING CONTEST: Finalist – Jim Smith. |
A Quick
Bursts And Coming Events
Broker Networking Event -October 22, Orange County. The Pacific Club, Newport Beach; 5:30 p.m. FREE (see Top Story).
AIR “Orientation” – Friday, December 5, 2008, Marriott Downtown L.A. Hotel, 333. S. Figueroa St. Registration 8 a.m.; program 8:30 a.m.-Noon. Brandon Burns, Orientation Chair; Joseph Vargas, Education Chair, and Chuck Noble, Multiple Chair. Designed for licensed brokers/salespersons with existing AIR member firms, new AIR members who have not yet attended a live orientation, licensed broker/salespersons of a firm requesting membership, and Office Managers and/or Listing Secretaries.
In-House Training - The AIR offers
training for CDX, e-MULTIPLE, WinAIR Forms, and AIRMail.
If a group of brokers or staff from your office would
like to have the AIR bring training to you in-house,
contact Martin Vartanian at (213) 687-8777. A number
of firms have already taken advantage of this great
service and been very pleased with the results.
Member Deals and Profiles - As soon as you
close a substantial deal, make sure you give Art Ansoorian
a call. Your deal will be featured in the next issue
of AIRWaves. Also be sure to get your personal bio over
to Art and be a featured member in the newsletter; it's
a great way for everyone to meet fellow members! Call
Art at (805) 653-1648, or email him at artpr@earthlink.net.
We Need Your Photos and Bios –
AIR is in the process of building its database of member
photos and bios. If you would like your photo and bio
to appear on the AIR website at www.airea.com,
please send them via mail or e-mail to Martin,
or if you have questions, call him at (213) 687-8777.
Tech
Tip
WinAIR Forms 2 - Online Demo is available on the AIR Website.
AIR has provided an Online demo featuring some of the major functionality benefits of the WinAIR Forms 2 program. Please click here to view the online demo.
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