Today’s big announcement is that Blackstone is acquiring PS Business Parks 96 property, 27 million square foot portfolio in California, Florida, Texas, and North Virginia for $7.6 billion. Some people think that this is not good for tenants as the large institutional players get bigger. My experience has been quite the opposite in that we continuously work with larger institutions to help clients move within their portfolios into properties that are not yet on the market.

Here is a brief review of our teams notable assignments, current offerings, and resources designed to give you a better understanding of strategies and tactics you can employ to improve how you utilize your industrial property.

Successful E-Commerce Assignment Completed

We helped the largest musical instrument and equipment business in the country land their e-commerce distribution center. This assignment involved an exhaustive search within the Inland Empire, Las Vegas, and Phoenix. We were able to handle the entire assignment with our client portal which allowed all team members to login into the project and have all of the pertinent details on one dashboard. We were able to negotiate a $3,846,293 tenant improvement allowance, for the landlord to deliver turnkey improvements and work with the economic development department to streamline permits.

 

1031 Exchanges

Here we were able to help another long-standing client reposition his estate by selling his Southern California industrial property for $25 million and 1031 exchange them into 2 properties for his business, and 3 properties in CA, AZ, and TX, that are single-tenant, triple net, with 10-20 year leases at a 5.75% cap rate or higher, with fixed 10% rental increases every 5 years. We had three of these closing this month.

• 21041 & 21052 Laguna Canyon Rd, Laguna Beach, CA
• 21094 Laguna Canyon Rd, Laguna Beach, CA
• 20642 N 76th St, Scottsdale, AZ – Guidepost Montessori – 18-year NNN lease starting at 5.75% cap rate with 2% annual increases and full corporate guarantee.

New Listing

We listed a 3,843 SF professional office in the Santa Ana portion of the Irvine Business Complex for $400 PSF. This is a great long-term client who used this condo as the humble beginnings for his large automotive business that he has since scaled and sold. Professional photos and virtual tour here on the brochure. Call to show.

Market Reports

• Los Angeles County (Market Report)
• Orange County (Market Report)
• Inland Empire (Market Report)
• San Diego (Market Report)
• United States Market (Market Report)

 

Media

• Book #1 – Industrial Intelligence, The Executive’s Guide for Making Informed Commercial Real Estate Decisions
  • Audible / Audiobook Now Available!
  • Buy Paperback & Kindle
  • Amazon Review
    • If you have enjoyed the book, I would be most grateful if you are able to leave a review on Amazon. You can find the link to do so here.
• Book #2 – Industrial Investments
  • I’ve 40% through the writing of my second book all on investment. In addition, I’ve interviewed over a dozen executives of major investment firms and developers on high-level strategies and tactics they use to be successful in the arena. If you know of anyone that you think would be a great collaborator in this endeavor, please let me know.
• Podcast – We continue to bring top-notch talent to the platform to explore different aspects of the industrial real estate marketplace.
  • Navigating the Industrial Development Market Cycle w/ Trace Chalmers & Stewart Tobias
  • San Diego Industrial Development w/ Matt Traino
  • Transforming Your Supply Chain to a Digital Supply Chain w/ Jim Tompkins
  • Turning Supply Chain Disruption into Innovation w/ Alan Amling
  • Elevating Your Material Handling w/ Steve Graham
  • GXO Logistics Success w/ Mark Manduca and Lee & Associates’ CEO Jeff Rinkov
  • Improving Your Sales, Inventory & Operations Planning w/ Lisa Anderson
  • How Supply & Demand Dynamics Effect Industrial Real Estate w/ Peter Linneman
  • Growing an Investment Platform w/ Jordan Kovalsky
  • Launching a Second Fund w/ Peter Market
  • Subscribe to the show or listen to individual episodes here.

 

We’d love to catch up with you and brainstorm how we can make your goals come to life. You can book time with me at your convenience: https://calendly.com/industrialsmith/. Thank you!

Best Regards,

Justin Smith, SIOR              Grant LaBounty                      Jeannette Plumeda                Chris Vassilian
jbsmith@leeirvine.com        glabounty@leeirvine.com        jplumeda@leeirvine.com        cvassilian@leeirvine.com