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 2012 – YEAR END PORTFOLIO OCCUPANCY – – D.B. Commercial is pleased to report that the average occupancy across our retail portfolio at year-end 2012 was 88%. 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. Some positive signs have started to show up including a spike in business sales leading to lease assignments and extensions.

December 2012 – NEW RESTAURANT LEASE – D.B. Commercial secures a new 5-year lease valued at $537,000 for a new restaurant tenant in a mixed use center under management in the trendy Sawtelle Corridor district in West Los Angeles, California.

November 2012 – NEW RESTAURANT LEASE – D.B. Commercial secures a new 5-year lease valued at $646,000 for a new restaurant tenant in a mixed use center under management in the trendy Sawtelle Corridor district in West Los Angeles, California. This new lease was negotiated for a space that would have been vacant, however, DBC was able to lease the space prior to the expiration of the prior lease to avoid a vacancy in the shopping center and its retail space remains 100% leased.

July 2012 – QUARTERLY UPDATE ON LEASING – D.B. Commercial has re-secured six existing tenant leases during the second quarter 2012. Existing tenant retention within the portfolio for expiring leases during the quarter was 67% with three expiring leases not renewing.

June 2012 – PROPERTY TAX APPEAL – D.B. Commercial successfully appeals the direct assessments for Property Taxes on a Huntington Beach California shopping center under management. The resulting refunds provided substantial savings to the shopping center’s tenants and landlord alike.

June 2012 – 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 alike.

May 2012 – AMECI PIZZA LEASE – D.B. Commercial secures a new 3-year lease with a Franchisee of Ameci Pizza and Pasta in a 50,000 square foot shopping center under management in the Northern Los Angeles County community of Santa Clarita, California.

April 2012 – NEW LEASE – D.B. Commercial secures a 5-year lease for a new tenant purchasing a business in a shopping center under management in Huntington Beach, California. The buyer desired to relocate the business to another available space in the shopping center which DBC coordinated. Additionally, DBC was able to present the prior space to an adjacent successful business and negotiate an expansion that eliminated a vacancy.

April 2012 – QUARTERLY UPDATE ON LEASING – D.B. Commercial has re-secured eight existing tenant leases during the first quarter 2012. 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 these non-renewing leases. The net result was one turnover vacancy out of eleven expiring leases for the quarter (91% occupancy retention).

February 2012 – NEW RESTAURANT LEASE – D.B. Commercial secures a new 4.5-year lease valued at $338,000 for a new restaurant tenant in a shopping center under management in the trendy Sawtelle Corridor district in West Los Angeles, California.

January 2012 – QUARTERLY UPDATE ON LEASING – – D.B. Commercial has re-secured five existing tenant leases during the fourth quarter 2011. Existing tenant retention within the portfolio for expiring leases during the quarter was 56% with four expiring leases not renewing. Three of the four non-renewing leases during the quarter were known to be vacating and DBC successfully negotiated new leases prior to vacancy resulting in no turnover vacancy for those spaces. The net result was one turnover vacancy out of nine expiring leases for the quarter (89% occupancy retention).