What We’ve Been Up To

Below are news high-lights and some of the deals we’ve made recently. It’s worth noting that not everything can be published. We respect and honor the privacy and confidentiality of our clients.

December 2011 – YEAR END PORTFOLIO OCCUPANCY – – D.B. Commercial is pleased to report that the average occupancy across our retail portfolio at year-end 2011 was 92%. While we continue to see weakness in small business and new tenant transactions, existing tenant retention has been strong and has greatly helped us sustain high occupancies. Given the weakness in the economy and its continued impact on small business, this average portfolio occupancy outpaced much of the competing properties in the markets we compete in.

October 2011 – QUARTERLY UPDATE ON LEASING – D.B. Commercial has re-secured eight existing tenant leases during the third quarter 2011. Existing tenant retention within the portfolio for expiring leases during the quarter was 73% with three expiring leases not renewing. One of the three was immediately re-tenanted. The net result was two turnover vacancy units out of eleven expiring leases for the quarter (82% occupancy retention).

September 2011 – NEW LEASE – D.B. Commercial secures a 3-year lease with a new tenant for a 2,052 square foot premises just prior to the expiration of the lease with the prior tenant whom we discovered would not be renewing their lease at a shopping center under management in Fullerton, California. With this lease, D.B. Commercial was able to re-secure the premises prior to the space becoming vacant and maintain the shopping center’s 100% occupancy.

August 2011 – SUBWAY LEASE – D.B. Commercial secures a new 5-year lease with Subway in a 50,000 square foot shopping center under management in the Northern Los Angeles County community of Santa Clarita, California.

July 2011 – QUARTERLY UPDATE ON LEASING – D.B. Commercial has re-secured six existing tenant leases during the second quarter 2011. Existing tenant retention within the portfolio for expiring leases during the quarter was 75% with two (2) leases not renewing. Both of the non-renewing leases during the quarter represented restaurant businesses in which DBC successfully negotiated a new lease with the buyer. The net result was no turnover vacancy (100% occupancy retention).

June 2011 – PROPERTY TAX APPEAL – D.B. Commercial successfully appeals the direct assessments for Property Taxes on a Huntington Beach, California shopping center under management. The total refund was approximately $60,000 providing substantial savings to the shopping center’s tenants and landlord alike.

June 2011 – PROPERTY TAX APPEAL – D.B. Commercial successfully appeals the direct assessments for Property Taxes on a Fullerton, California shopping center under management. The resulting refunds provided substantial savings to the shopping center’s tenants and landlord.

May 2011– RESTAURANT LEASE – D.B. Commercial secures a new 5-year lease valued at $370,000 for a new restaurant tenant in a shopping center under management in Rowland Heights, California. The new tenant invested significant capital to renovate the entire restaurant at the tenant’s expense.

April 2011– NEW RESTAURANT LEASE – D.B. Commercial secures a new 5-year lease valued at $420,000 for a new restaurant tenant in a shopping center under management in Huntington Beach, California.

April 2011– QUARTERLY UPDATE ON LEASING – D.B. Commercial has re-secured eight existing tenant leases during the first quarter 2011. Existing tenant retention within the portfolio for expiring leases during the quarter was 73% with three expiring leases not renewing. Two of three non-renewing leases during the quarter were business sales in which DBC successfully negotiated a new lease with the buyer resulting in no turnover vacancy for the non-renewing leases. The net result was one turnover vacancy out of eleven expiring leases for the quarter (91% occupancy retention).

April 2011– NEW RESTAURANT LEASE – D. B. Commercial secures a new 5-year lease valued at $372,000 for a new restaurant tenant in a shopping center under management in the trendy Sawtelle Corridor district in West Los Angeles, California.

January 2011 – PROFESSIONAL CREATIVE OFFCE LEASE – D. B. Commercial secures a 5-year lease renewal valued at over $400,000 for an existing creative office tenant in a mixed use center under management in the trendy Sawtelle Corridor district in West Los Angeles, California.

January 2011 – QUARTERLY UPDATE ON LEASING – D.B. Commercial has re-secured three existing tenant leases during the fourth quarter 2010. Existing tenant retention within the portfolio for expiring leases during the quarter was 50% with three tenants not renewing. Of the three non-renewing tenants, one space was relet prior to vacancy. The net result was two turnover vacancy units out of six expiring leases for the quarter (67% occupancy retention).