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Brian Jacks, our Vice President and Regional Director at East West Commercial Real Estate, was recently featured in the 
Sacramento Business Journal on Friday, June 15th 2012, where he comments on the multi family real estate industry. Mr. Jacks further explains how apartment complexes are drawing investors from the stock market and other real estate sectors. Click Here for complete article.
East West Commercial Real Estate is proud to announce its facilitation of a new 3-year office / special purpose l
ease for Veritas Church in Roseville, CA, effective July 1, 2012. Veritas has been led by Senior Pastor Erik Meyers for the past four years, since inception in 2008. While Veritas has been blessed with the ability to share space in other non-profit facilities, it has been difficult, but a necessary reality to relocate basically once every year since it all began. Veritas’ most recent facility was subleased from Cornerstone Christian School at 202 Bonita Street in Roseville, CA. At a Veritas Church membership meeting held on the evening of June 3, 2012, a collective sigh of relief was heard as Pastor Erik discussed the new lease opportunity with his congregation… finally, a place of their own.
East West Commercial Real Estate is pleased to announce Augie Chavez as its new Inland Empire, California commercial real estate associate. Specializing in the sale and lease of industrial space for lease and industrial buildings for sale in the Inland Empire and being a licensed salesperson with the State of California, Augie will be a tremendous asset to the East West Commercial Real Estate team.
With over twenty years of experience in real estate, logistics, and construction, Augie brings a diverse and unique set of talents and skills to the commercial real estate arena which only serves to benefit clients in regards to how their assets are marketed and serviced.
As a contractor, he marketed to and worked with developers, architects, and general contractors on commercial, entry-level and semi-custom tract homes, multi-residential, and large scale development projects such as Butterfield Ranch in Chino Hills, CA. His impressive real estate experience includes working with distressed properties and the sales and marketing of several multi-million dollar communities, some of which included an affordable housing component with diverse financing options.
Augie also has a proven track record in the logistics field. As a warehouse/operations manager for a large importer, he turned around a faltering distribution system consisting of multiple warehouses shipping to thousands of dealers throughout the US. With a BA in Transportation and Logistics Management from American Public/Military University, his expertise extends beyond his hands-on experience with the unique ability to look at how logistics influences all functions of an organization and understands how strategic placement of points of distribution impacts the flow and efficiency of their supply chain network. Augie offers this level of service and experience to those seeking industrial property for lease in the inland empire as well as industrial property for sale in the inland empire.
Augie Chavez is an Inland Empire, California commercial real estate associate and salesperson specializing in lease and investment transactions for industrial properties. Mr. Chavez oversees industrial properties for sale and industrial space for lease in Chino, Ontario, San Bernardino, and Riverside for East West Commercial Real Estate.
Augie Chavez is part of the firm East West Commercial Real Estate, a full service commercial real estate services company with offices throughout Arizona, California, Nevada, and New Mexico including, Phoenix, Tucson, Los Angeles, San Francisco, San Diego, San Jose, Orange County, Inland Empire (Riverside and San Bernardino), San Jose, Sacramento, Oakland, Walnut Creek, Las Vegas, Reno, and Albuquerque. East West Commercial Real Estate provides brokerage and asset management services for retail, shopping centers, office, industrial, apartments, medical office, self-storage, senior housing, and hospitality. For more information, contact Augie Chavez at (909) 732-9423 or Augie.Chavez@EastWestCommercial.com or http://www.eastwestcommercial.com.
Commercial Real Estate Broker or Salesperson – Position / Job Opening in Orange County
Locations of our Offices: Orange County, Los Angeles, San Diego, Riverside, San Bernardino, Inland Empire, Sacramento, San Francisco, Oakland, San Jose, Walnut Creek, Phoenix, Tucson, Las Vegas, Reno, Denver, Dallas, Houston.
EAST WEST Commercial Real Estate and EAST WEST Capital Advisors is seeking licensed real estate brokers or salespersons for the above markets. This 1099 contractor role offers unlimited upside potential for a uniquely motivated candidate with the drive to create and operate his/her own business. Sales commission split is dependent on experience.
Telephone interviews will be scheduled for the coming week, followed by select in-person interviews. Please submit resume via e-mail with experience, qualifications and career objective.
EAST WEST COMMERCIAL REAL ESTATE – BROKERAGE SERVICES
Represent buyers and sellers for the purchase and sale of commercial real estate investment properties (apartments, retail, office, industrial, manufactured home communities, senior housing, self-storage, mixed-use, special purpose).
Represent tenants and landlords for the lease of commercial space.
Commercial Broker Opinions of Value (BOV’s) / Commercial Broker Price Opinions (BPOs)
1031 exchanges, short sales, investment consultation, financial analysis, market research
EAST WEST CAPITAL ADVISORS — MORTGAGE BANKING SERVICES
Debt placement, private equity, SBA Loans (small business)
JV Structures and Structured Financing, access to capital markets
Valuations: Commercial Broker Price Opinion BPO’s
MINIMUM REQUIREMENTS
Bachelor’s degree (4-year college or equivalent)
Licensed real estate broker or salesperson (active and in good standing)
Thorough understanding of commercial real estate fundamentals
Demonstrated strong sales performance and experience
Excellent communication skills and attention to detail
Proficiency with Microsoft Office programs (specifically Excel) and Internet tools
Ability to manage multiple priorities, demonstrate flexibility, prioritize clients needs and objectives, and meet deadlines without exception
Familiar with the market area
ATTRIBUTES OF A SUCCESSFUL CANDIDATE
The successful candidate will exhibit the following characteristics: honesty, integrity, self-motivation, diligence, tenacity, and entrepreneurial leadership. This candidate will also have proven to be adept at contract negotiations, prospecting, market research, deal making, and transaction management.
ABOUT THE COMPANY
EAST WEST Commercial Real Estate and EAST WEST Capital Advisors is headquartered in Orange County, CA. Founding principal, Michael Duhs, is a seasoned commercial real estate veteran of 27 years who manages the Southern California offices. Brian Jacks, a former commercial real estate banking executive of 20 years, heads up the Northern California operations with an office in Sacramento. Vince Spark spearheads our Arizona, Nevada and New Mexico region, bringing with him extensive brokerage, construction and development experience. Read more:
http://www.eastwestcommercial.com/about/executive-team/
Send your Resume to:
Michael.Duhs@EastWestCommercial.com
VISIT OUR WEBSITES
http://www.EastWestCommercial.com
http://www.EastWestCaptialAdvisors.com
Commercial Real Estate Asset Management / Asset Manager
East West Commercial Real Estate
Los Angeles / Orange County, CA
East West Commercial Real Estate is seeking an experienced Commercial Real Estate Asset Manager to join the firm’s Orange / LA County office.
Company: East West Commercial Real Estate is a preeminent real estate brokerage, asset management, lender services and capital firm in the western United States with offices located in California, Arizona, Nevada, and New Mexico.
Job Title: Commercial Real Estate Asset Manager /Management
Position Summary:
The Real Estate Asset Manager is responsible for creating and overseeing the asset management and property acquisition for the firm.
Responsibilities:
- Maximize total return for each assigned asset through the analysis of property efficiencies and identifying opportunities for improved performance
- Work closely with third party property managers and leasing agents to provide direction for and oversight of business plans, budgets, forecasts, leases, analysis and approvals
- Negotiate third party contracts
- Manage cash flow, distribution analysis and investment projections
- Develop and distribute periodic asset management reports to investors, consultants and other partners
- Provide pre-acquisition input and assistance in due diligence process, including review of financial and operational assumptions, and supporting the effort of originating and negotiation of debt financing
- Model full life cycle financial analysis for each asset from acquisition through disposition.
- Manage coordination of post acquisition activities and integration of asset into the firm’s ownership portfolio
- Oversee asset disposition process
- Emphasis on rent collections and resident retention is essential.
- Responsible for the daily operation of properties.
- Manager must possess strong ability to pursue tenants and collect rents.
- Receive and review bids to ensure appropriate level of service at the most cost effective rates.
- Manager is responsible for duties such as completing lease paperwork, maintaining property records, preparing monthly reports, reviewing accounting data and processing work orders.
- Manager is also responsible for CAM estimates, reconciliations, tax billings, insurance billings and budgets. Manager should be knowledgeable of CC&R’s and lease administration.
- Manager is responsible to complete annual reconciliations and estimates inclusive of billings of common area maintenance charges and real estate taxes for each tenant, verifying exclusions, base year amounts, caps etc.
- Manager is responsible to ensures proper administration of leases, lease abstracts, amendments, and related correspondence during tenant occupancy; and computer entry of lease information to ensure correct rent roll data.
- Rent and other billings collections: Manager must possess strong ability to pursue tenants and collect rents. When necessary, draft and properly deliver Pay or Quit notices, work with attorneys to complete Unlawful Detainer actions and other legal requirements.
- Maintain properties in good order and condition: Manager must proactively maintain the real estate with proper inspections, coordinating and scheduling any necessary repairs and maintenance. Research various vendors to assess price and quality. Collect bids from contractors and prepare service contracts for ownership approval. Ensure proper insurance certificates are maintained from all vendors.
- Tenant Retention: Manager must establish and maintain tenant relationships. Answer tenant phone calls, letters and requests for information and repairs. Visit tenants, when on-site. Manager completes final walk-through of vacating tenants, prepares required forms and other necessary paperwork, obtains bids for repairs and completes repairs as required by ownership.
- Negotiate maintenance contracts with vendors: Receive and review bids to ensure appropriate level of service at the most cost effective rates.
- Administrative activities: Manager is responsible for duties such as completing lease paperwork, maintaining property records, preparing monthly reports, reviewing accounting data and processing work orders. Manager is also responsible for CAM estimates, reconciliations, tax billings, insurance billings and budgets. Manager should be knowledgeable of CC&R’s and lease administration.
- Annual CAM Reconciliations: Manager is responsible to complete annual reconciliations and estimates inclusive of billings of common area maintenance charges and real estate taxes for each tenant, verifying exclusions, base year amounts, caps etc.
- Rent Roll administration: Manager is responsible to ensures proper administration of leases, lease abstracts, amendments, and related correspondence during tenant occupancy; and computer entry of lease information to ensure correct rent roll data.
- Accounting functions: Ensuring all accounting functions, such as accounts payable and accounts receivable are properly completed in an efficient manner. Candidate must understate accounting reports, balance sheets, and other accounting statements, and must be able to understand tenant ledgers and a general accounting ledgers.
- Delinquency Reports: Notify clients regularly with delinquency updates. Pursue collections, bill late fees and provide recommendations for action to secure payment.
Requirements:
- BA/BS degree in Finance, Real Estate or related field with strong record of academic achievement with MBA preferred
- Minimum of 5 years of commercial real estate analysis/asset management experience with an emphasis in office, retail, apartment and industrial properties and markets. Experience in property management/leasing/operations desirable.
- The candidate must be strong in CAM’s, budgets & monthly reporting, with an understanding of the physical and financial aspects of the real estate.
- Proficiency with modeling investments in both Excel and Argus
- Solid analytical and organizational skills and ability to multi-task
- Highly-developed verbal and written communication skills
- Ability to work independently and as part of a team
- Proactive thinking with detail-oriented and creative problem solving approach
- Must possess a current California Real Estate Sales Person or Broker License
- CPM or like designation
- Handling of Distressed Assets with expertise in Receiverships, a plus.
- Strong networking & Business Development skills required.
- Candidate must understand accounting reports, balance sheets, and other accounting statements, and must be able to understand tenant ledgers and general accounting ledgers.
- Yardi software experience, a plus
Job Location: Orange County / Los Angeles, CA
Type of Industry: Commercial Real Estate
Contact Person:
Michael Duhs, Managing Director
Michael.Duhs@EastWestCommercial.com
Send resume AND cover letter, along with picture to the email address above.
Motivated Seller BOV / BPO
Located in Beamont – Riverside County. 12 Unit multi-family building for sale. Mostly 2 BD / 1 BA. Great investment opportunity. Well maintained building; good neighborhood.
Contact Information:
Michael Duhs- Managing Broker
Direct (949) 939-8352
30262 Crown Valley Parkway, Suite B518
Laguna Niguel, CA 92677
Commercial Real Estate Vacancy Rates Improve
According to the National Association of REALTORS®’ quarterly commercial real estate forecast, all of the major commercial real estate sectors are seeing improved fundamentals, but multifamily housing is becoming a landlord’s market, commanding bigger rent increases. These trends also are confirmed in NAR’s recent quarterly Commercial Real Estate Market Survey.
Lawrence Yun, NAR chief economist, said vacancy rates are improving in all of the major commercial real estate sectors. “Sustained job creation is benefiting commercial real estate sectors by increasing demand for space,” he said. “Vacancy rates are steadily falling. Leasing is on the rise and rents are showing signs of strengthening, especially in the apartment market where rents are rising the fastest.”
NAR forecasts commercial vacancy rates over the next year to decline 0.4 percentage point in the office sector, 0.8 point in industrial real estate, 0.9 point in the retail sector and 0.2 percentage point in the multifamily rental market.
“Household formation appears to be rising from pent-up demand,” Yun said. “The tight apartment market should encourage more apartment construction. Otherwise, rent increases could further accelerate in the near-to-intermediate term.”
The Society of Industrial and Office REALTORS® shows a notable gain in its SIOR Commercial Real Estate Index, an attitudinal survey of 297 local market experts.
The SIOR index, measuring the impact of 10 variables, jumped 8.3 percentage points to 63.8 in the fourth quarter, following a gain of 0.6 percentage point in the third quarter. The index remains well below the level of 100 that represents a balanced marketplace, which was last seen in the third quarter of 2007.
Most market indicators posted advances in the fourth quarter, but 71 percent of respondents said leasing activity is below historic levels in their market — an improvement from 83 percent in the third quarter. Only 29 percent report there is ample sublease space available.
Office and industrial space remains a tenant’s market — 87 percent of participants feel that tenants are getting a range of benefits ranging from moderate concessions to deep rent discounts.
Construction activity is still low, with 95 percent of experts reporting it is below normal, and 83 percent said it is a buyers’ market for development acquisitions; prices are below construction costs in 78 percent of markets.
Participants are broadly expecting stronger conditions for the current quarter, with two out of three expecting market improvement.
NAR’s latest Commercial Real Estate Outlookoffers projections for four major commercial sectors and analyzes quarterly data in the office, industrial, retail and multifamily markets. Historic data for metro areas were provided by REIS Inc., a source of commercial real estate performance information.
Office Markets
Vacancy rates in the office sector are projected to fall from 16.4 percent in the current quarter to 16.0 percent in the first quarter of 2013.
The markets with the lowest office vacancy rates presently are Washington, D.C., with a vacancy rate of 9.5 percent; New York City, at 10.0 percent; and New Orleans, 12.4 percent.
After rising 1.6 percent in 2011, office rents should increase another 1.9 percent this year and 2.4 percent in 2013. Net absorption of office space in the U.S., which includes the leasing of new space coming on the market as well as space in existing properties, is forecast at 20.1 million square feet in 2012 and 28.1 million next year.
Industrial Markets
Industrial vacancy rates are likely to decline from 11.7 percent in the first quarter of this year to 10.9 percent in the first quarter of 2013.
The areas with the lowest industrial vacancy rates currently are Orange County, Calif., with a vacancy rate of 4.8 percent; Los Angeles, 4.9 percent; and Miami at 7.6 percent.
Annual industrial rent is expected to rise 1.8 percent in 2012 and 2.3 percent next year. Net absorption of industrial space nationally is seen at 40.6 million square feet this year and 57.7 million in 2013.
Retail Markets
Retail vacancy rates are forecast to decline from 11.9 percent in the current quarter to 11.0 percent in the first quarter of 2013.
Presently, markets with the lowest retail vacancy rates include San Francisco, 3.6 percent; Fairfield County, Conn., at 5.1 percent; and Long Island, N.Y., at 5.4 percent.
Average retail rent should rise 0.7 percent this year and 1.2 percent in 2013. Net absorption of retail space is projected at 9.9 million square feet this year and 23.9 million in 2013.
Multifamily Markets
The apartment rental market – multifamily housing – is likely to see vacancy rates drop from 4.7 percent in the first quarter to 4.5 percent in the first quarter of 2013; multifamily vacancy rates below 5 percent generally are considered a landlord’s market with demand justifying higher rents.
Areas with the lowest multifamily vacancy rates currently are New York City, 1.8 percent; Minneapolis and Portland, Ore., each at 2.5 percent; and San Jose, Calif., at 2.7 percent.
After rising 2.2 percent last year, average apartment rent is expected to increase 3.8 percent in 2012 and another 4.0 percent next.
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For professional expertise with offices in Los Angeles, San Diego, Orange County, Riverside, and San Bernardino, Sacramento, San Francisco, Oakland, San Jose — commercial real estate, 1031 exchange, investment property, commercial real estate REO’s, apartments for sale, retail shopping centers for sale, offices for sale, industrial for sale, nationwide commercial BOV’s, nationwide commercial broker price opinion BPO’s, nationwide commercial BPO’s, or asset management, please contact Michael Duhs, Managing Director of East West Commercial, at Michael.Duhs@EastWestCommercial.com or (949) 939-8352. Visit us at http://www.EastWestCommercial.com.
Remember years ago when homeowners were selling high priced homes in the San Francisco Bay Area and moving in droves to the Sacramento region? Well, get ready for the next way!
A recent Bloomberg article suggests that San Francisco is currently the hottest office market in the country, as indicated by the pending sale of a 10-story office building for $800 per square foot in SOMA (South of Market Area), a submarket where rents are up 22% over the past year. This would be the City’s highest selling price for an office building since the commercial real estate market peaked in 2007.
Follow my logic here… Bay Area jobs are coming back in a big way, led by robust increases in the technology industry. Most of these young workers, in their 20’s and 30’s, are seeking multifamily rental housing. As a result, rental demand for apartments in cities like San Francisco and San Jose is going through the roof with 2012 forecasted vacancy rates of +/- 3%. Not surprisingly, Marcus & Millichap reports that San Jose and San Francisco have taken the # 1 and # 2 spots in the National Apartments Index, behind # 3 New York.
What follows next? Well, multifamily property values are on the rise in the Bay Area with compressing investor yields (cap rates), suggesting investors will soon be looking to nearby markets for better investment returns. Given the Sacramento area was hit so hard with housing foreclosures, many people have been forced to rent apartments, which is driving region-wide multifamily vacancies below 5% in 2012.
The number of new multifamily listings for apartments in the greater Sacramento is most certainly on the rise. Here on the ground, it feels like we may have it bottom late last year in terms of apartments sale price per unit. Demand should increase from here, along with upward pressure on both rents and sale prices.
To give you an idea… an 11 unit REO apartment complex sold in South Sacramento on 6/30/11 for $34,000 per unit to a value add investor at 9.9% cap rate. The property was 91% vacant at the time and in terrible physical condition. Over the next six months, the investor rehabbed units, replaced patio decks, painted the entire property, and leased up the 10 vacant units at market rents.
After a turnaround period of only six months, this property is now back on the market with an asking price of $67,000 per unit (8.1% cap rate). Notice this cap rate is even stronger than a recent sale just two blocks away, which closed on 11/1/11, where East West Commercial Real Estate brokered the sale of a stabilized 14-unit apartment property to a foreign investor at 8.5% cap rate ($62,500 per unit). See video.
All signs are positive that Sacramento has entered a period of slow steady growth with support from nearby Bay Area influences. Now is a great time to consider investing in multifamily housing and apartments for sale while prices are still attractive.
For more information, contact Brian Jacks (916) 837-3456, Vice President and Northern California Regional Director for East West Commercial. Brian specializes in investment sales for multifamily housing and apartments throughout the greater Sacramento area. He is also proud to announce the addition of several new commercial real estate agents in the Bay Area, serving commercial and multifamily investors, landlords and tenants in the cities of San Francisco, Walnut Creek and San Jose.
Social Media Links:
Twitter – http://www.Twitter.com/SacCommercialRE
Google Plus – http://www.GPlus.to/SacCommercialRE
Facebook – http://www.Facebook.com/SacCommercialRE
YouTube – http://www.YouTube.com/SacCommercialRE
LinkedIn – http://www.LinkedIn/In/bjacks
Email – Brian.Jacks@EastWestCommercial.com
East West Commercial – Professional commercial real estate expertise with offices in Sacramento, San Francisco, San Jose, Walnut Creek, Los Angeles, San Diego, Orange County, Riverside, and San Bernardino — commercial real estate, investment property, apartments for sale, office for sale, industrial for sale, retail shopping center for sale, 1031 exchange, commercial real estate REO’s, nationwide commercial BOV’s, nationwide commercial broker price opinion BPO’s, lender services, nationwide commercial BPO’s, asset management.
Visit our websites at:
http://www.EastWestCommercial.com
Sacramento, CA – As one of the hardest hit regions in the country, due the housing meltdown, Sacramento area apartment owners have been welcoming displaced homeowners in droves. Apartment communities have long been the safest commercial real estate investment class, since people always need a place to live no matter how bad the economy…. but consider this next fact for even more emphasis. As of 3Q11, Sacramento metro vacancies were reported at 12.4% (retail), 12.9% (industrial), and 19.8% (office). On the other hand, Sacramento metro apartments were reported at only 5.4% vacancy during the same period… after falling from 7.1% a year prior (3Q10). Plus, due to the compressing vacancy rates, apartment owners have been able to increase rents an average of 2.2% over the past year. With all this positive news, which asset class would you prefer to own right now?
Article contributed by Brian Jacks http://www.linkedin.com/
Data Source: Marcus & Millichap 3Q11 market update http://www.marcusmillichap.com/
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Asset Management / REO Brokerage Services
For more than two decades we have provided extraordinary service to assist our clients in disposing of and purchasing real estate assets in the California marketplace. East West Commercial Real Estate specializes in assisting lenders sell their special assets / ORE across multiple asset classes: apartments, retail, office and industrial.