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 2018 – YEAR END RETAIL PORTFOLIO OCCUPANCY – D.B. Commercial is pleased to report that the average occupancy across our retail portfolio at year-end 2018 was approximately 97%. Continued improvements in the economy have allowed landlords to raise rents year over year, and at a faster pace in 2018 as compared to 2015 and 2016/2017 which were both stronger years with good growth. Our expectation is that rents will stabilize in 2019 with a softening in rent growth and we are growing more cautious of a correction in coming years.

December 2018 – QUARTERLY UPDATE ON LEASING – D.B. Commercial has re-secured three existing tenant leases and procured one new lease (before the existing tenant vacated a space) all during the third quarter 2018. Tenant retention (existing renewals and tenant replacement prior to vacancy) within the portfolio for expiring leases during the quarter was 100%.

September 2018 – QUARTERLY UPDATE ON LEASING – D.B. Commercial has re-secured four existing tenant leases, secured an extension related to a business sale/assignment of lease and one new lease all during the third quarter 2018. Existing tenant retention within the portfolio for expiring leases during the quarter was 100%.

September 2018 – RESTAURANT LEASE RENEWAL – D.B. Commercial secures a 10-year lease extension for a restaurant tenant valued at over $670,000 in a center under management in West Los Angeles, California.

August 2018 – RETAIL LEASE RENEWAL – D.B. Commercial secures a 5-year lease extension for a retail tenant valued at over $320,000 in a center under management in Rowland Heights, California.

July 2018 – RETAIL LEASE RENEWAL – D.B. Commercial secures a 5-year lease extension for a retail tenant valued at over $320,000 in a center under management in Huntington Beach, California.

May 2018 – OFFICE LEASE RENEWALS – D.B. Commercial secures two lease renewals for the second floor of a shopping center under management in Los Angeles County, California.

May 2018 – RETAIL LEASE RENEWAL – D.B. Commercial secures a 5-year lease extension for special purpose tenant valued at over $400,000 in a center under management in Huntington Beach, California.

May 2018 – OFFICE LEASE RENEWAL – D.B. Commercial was approached by an existing tenant to expand their premises at a mixed-use property in Los Angeles. The space, which historically had been challenging to lease had less than two years remaining on the existing term. Given the prior circumstances with the space, DBC arranged for the expansion needed by the tenant on the condition that the tenant extended its underlying lease for two additional years. This provided tenant space it needed and the landlord with greater certainty on the tenancy.

May 2018 – PROPERTY TAX APPEALS – D.B. Commercial successfully appeals the direct assessments for Property Taxes on two shopping centers under management in Orange County. The resulting refunds provided substantial savings to the shopping center’s tenants and landlord alike.

April 2018 – RETAIL LEASE RENEWAL – D.B. Commercial secures a 5-year lease renewal on a 1,600 square foot retail space within a shopping center under management in Huntington Beach, California.

April 2018 – RETAIL LEASE RENEWAL – D.B. Commercial secures a 5-year lease renewal on a 1,200 square foot retail space within a shopping center under management in Orange County, California.

April 2018 – QUARTERLY UPDATE ON LEASING – D.B. Commercial has re-secured six existing tenant leases during the first quarter 2018. Existing tenant retention within the portfolio for expiring leases during the quarter was 100%.

February 2018 – RETAIL LEASE RENEWAL – D.B. Commercial secures a 3-year lease renewal on a 2,400 square foot retail space within a shopping center under management in Los Angeles County, California.

January 2018 – NEW RESTAURANT LEASE – D.B. Commercial secures a 5-year lease with new Restaurant in connection with their purchase of an existing underperforming restaurant in a center under management in Fullerton, California.

January 2018 – NEW RETAIL LEASE – D.B. Commercial secures a new 5-year lease for a 3,000 square foot former RadioShack to reach 100% occupancy in a shopping center under management in Huntington Beach, California.

January 2018 – RESTAURANT LEASE RENEWAL – D.B. Commercial secures a 5-year lease extension valued at $600,000 for a restaurant tenant in a mixed-use center under management in the trendy Sawtelle Corridor district in West Los Angeles, California.