TRI Commercial Codifies Medical Specialty Team
Ed Del Beccaro formally organizes brokerage alliance group to serve Medical clients
(June 6, 2024 – Walnut creek) – TRI Commercial/CORFAC International today announces a reformation of its Medical Group. Together, the three brokers on the team have over 50 years combined medical brokerage and property management experience in the Greater Bay Area. Edward F. Del Beccaro, the group leader, is the Manager of TRI Commercial’s Bay Area offices, and identified a need for advanced specialties to be forged in order to better serve clients.The other members of the TRI Commercial Real Estate Medical Group include Sonny O’Drobinak and Matt Hatfield.
“Our aim is to listen to our clients’ Medical requirements and endeavor to achieve the result for their needs,” explains O’Drobinak. “Having the knowledge of most medical disciplines allow us to work on what’s important for the search area and infrastructure, allowing us to focus on the economics needs and concerns.”
Previously and currently working with major Hospital Chains, Specialty Centers, and Doctor Groups, the brokers comprising the group see the assembly of this specialty team as a way to boost the success of their current clients by implementing coordinated outreach to other Medical users in the Bay Area and beyond.
Edward F. Del Beccaro can be reached at 925.296.3333 or at ed.delbeccaro@tricommercial.com, Sonny at 925.296.3303 or sonny.odrobinak@tricommercial.com, and Matt at 925.296.3310 or matt.hatfield@tricommercial.com.
About TRI Commercial/CORFAC International
Founded in 1977, TRI Commercial/CORFAC International is a leading Northern California commercial real estate brokerage and property management firm (with more than 4 million square feet of commercial property under management) specializing in San Francisco, East Bay and the Sacramento Metro property markets. The company has expertise in tenant and landlord representation services and helps clients buy and sell commercial and investment-grade property. The company serves office, retail, and land, multifamily and industrial property sectors, with offices in San Francisco, Walnut Creek, Oakland, San Jose, Roseville, and Rocklin. For more information, visit www.tricommercial.com or call Justin Flom in Corporate Marketing at 925.269.3335
CORFAC International is comprised of privately held entrepreneurial firms with expertise in office, industrial and retail properties, tenant and landlord representation, investment sales, multifamily, self-storage, acquisitions and dispositions, property management and corporate services. For more information on CORFAC’s International presence, call the Chicago headquarters at 224.257.4400 or visit www.corfac.com.
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Celine Mui Simon Newest Addition to TRI Walnut Creek Team
Simon, retail and investment specialist, takes years of storied experience to retail team
(May 6, 2024 – Walnut creek) – TRI Commercial/CORFAC International announced internally last week that Celine Mui Simon has joined the TRI Commercial Walnut Creek team as Sales Associate within the retail team. With an over 10-year background in the industry, starting as an attorney in Commercial Real Estate litigation and transactions and more recently as a commercial broker the last several years, Simon brings considerable expertise to the table.
“I am excited to bring my wealth of knowledge to TRI Commercial to better serve clients. My background lends itself to navigating economic uncertainty and changing regulations,” explained Simon.
She is a CCIM candidate and a Group Leader of Provisors Walnut Creek 3. She has served as Past President of the Women’s Section of the Contra Costa County Bar Association, Former Vice President of Diversity, Equity, and Inclusion of CREW East Bay, Past President of Asian Business League, and currently serves as a Girl Scouts Troop Leader.
Ed Del Beccaro, the San Francisco Bay Area Manager for TRI Commercial announced Celine’s arrival earlier this week; “We welcome Celine, who will be joining our team in Walnut Creek. She has an exemplary professional and community service record, bringing to TRI added depth and skill sets that will enable TRI Commercial to better serve its clients.
Celine can be reached at 925.296.3305 and celine.simon@tricommercial.com.
Veteran INDUSTRIAL broker joins TRI Walnut Creek Team
Eric Rehn, NorCal CCIM ranking member shifts brokerage efforts with TRI Commercial
(April 29, 2024 – Walnut Creek) –
TRI Commercial/CORFAC International today announced that Eric Rehn, CCIM has joined the TRI Commercial Walnut Creek team as senior director specializing in R&D and Industrial properties. Rehn’s portfolio of work has covered Contra Costa, Napa, and Solano Counties, representing a wide range of uses and transaction types. Previous clients have included John Deere, Milgard Windows, and Hertz Equipment Rentals.
Ed Del Beccaro, manager of TRI Commercial’s Bay Area offices declared the recruitment internally late last week; “We proudly announce that TRI Commercial Real Estate Services has hired Eric Rehn, CCIM who is a recognized industrial and commercial real estate leader and brokerage expert,”
A designated member of CCIM’s Northern California chapter since 2012, Rehn previously has served as chapter president in 2017, as well as two terms as treasurer of the organization. Rehn is well known in the professional community, but also positions his experience in community-forward endeavors. He has served as a consultant for the Northern Waterfront Economic Development Initiative and as recently as last year was appointed membership on Concord’s Homeless Strategic Plan Working Group.
Eric joins TRI Commercial with the future of his career in mind. “Real estate is at a major pivot point. I look forward to bringing my skills to a team with a variety of experience and qualities that will be able to face unprecedented trends here in the San Francisco Bay Area. With a broader network including CORFAC, I am pleased to be able to fulfill my clients’ goals.”
Eric can be reached at 925.784.3449 and eric.rehn@tricommercial.com.
Fremont Industrial Building Sells Below 5 Cap
Improved, Bifurcated Warehouse Property Sells for Over 10 Million
(January 26, 2023 – Walnut creek) – TRI Commercial is pleased to announce the sale of 37421 Centralmont Place in Fremont, California. This warehouse building, located in the insular industrial zone near the Fremont FAA Center and along the Nimitz Freeway, is the latest sale to top ten million dollars in price, and validating the strength of the industrial market. Ed Del Beccaro, and Teddy Swain represented the seller. The property was occupied by a national construction company, and featured a number of details that were appealing to a wide number of future occupants.
“One of the challenges our team faced was the tenant’s 6-month lease termination clause provided in the lease agreement which made financing the deal extremely difficult. Despite this curveball we were able to secure an all-cash buyer and close at a 4.85% cap rate with a sale price of $10,300,000. Goes to show just how strong the industrial asset class remains.”
37421 Centralmont Place was acquired by an investor as a future food manufacturing site, however that decision has not been finalized.
About TRI Commercial/CORFAC International
Founded in 1977, TRI Commercial/CORFAC International is a leading Northern California commercial real estate brokerage and property management firm (with more than 4 million square feet of commercial property under management) specializing in San Francisco, East Bay and the Sacramento Metro property markets. The company has expertise in tenant and landlord representation services and helps clients buy and sell commercial and investment-grade property. The company serves office, retail, and land, multifamily and industrial property sectors, with offices in San Francisco, Walnut Creek, Oakland, Roseville, Sacramento, and Rocklin. For more information, visit www.tricommercial.com or call Justin Flom in Corporate Marketing at 925.269.3335
CORFAC International is comprised of privately held entrepreneurial firms with expertise in office, industrial and retail properties, tenant and landlord representation, investment sales, multifamily, self-storage, acquisitions and dispositions, property management and corporate services. For more information on CORFAC’s International presence, call the Chicago headquarters at 224.257.4400 or visit www.corfac.com.
Media Contact:
Justin Flom
925.296.3335
Justin.Flom@tricommercial.com
Top Retail Leases Recognized for East Bay/Oakland
(July 31, 2021 – OAKLAND, CA) –
Prominent retail leases signed by Sprouts Farmers Market, VinFast and S&G Flooring negotiated by top dealmakers from Merlone Geier Management, SRS Real Estate Partners, Lee & Associates Commercial Real Estate Service and Colliers International are among the second quarter retail leases recognized by CoStar.
As big ticket items involving sizable investments, commercial property transactions often have a wider impact within the community. CoStar will recognize the largest leases completed each quarter and the dealmakers who made them happen in their respective markets.
Here are the East Bay/Oakland retail leases selected as the second quarter 2021 winners of the CoStar Power Broker Quarterly Deal Awards:
Space Leased: 6,600 SF
Deal Type: New Lease
Size: 6,600 SF
Tenant: Unlimited Wireless
Brokers Involved: John Dunning of Tri Commercial/Corfac International represented both sides of the deal.
Deal Commentary: Unlimited Wireless, a wireless provider of wireless phones and repair services, recently leased space at this Oakland retail area on International Blvd. located in the Oakland-South/Airport submarket. The freestanding, single-tenant property is owned by Oakland-based Huntleigh Development, Inc.
Full article: https://product.costar.com/home/news/shared/1942343649?source=sharedNewsEmail
Multi-menu Delivery Platform Moves Into Fruitvale
(May 28, 2021 – OAKLAND, CA) –
Last week, REEF Technologies (www.reeftechnology.com) signed a lease for a vacant parking lot 1 block north of Fruitvale BART in Oakland – their first operation Oakland. Delivery-based food service retail appears to no longer be a trend, and Miami-based REEF Technologies is one of the businesses betting on it. The company connects major and minor brands to new markets they don’t currently exist in – and allows them to set up a ‘Ghost Kitchen’ where they can duplicate the restaurant’s menu, but not accept walk-up customers.
The first foray into Oakland is at 1242 35th Avenue, a previously underused ±13,000 SF gated lot along International Boulevard. Five businesses have already set up on site out of this location. Jack in the Box, which made headlines earlier this month when they formed a major partnership with REEF Technologies. “It’s great to see this section already in action – what was once a paved lot is now home to a lively collection of businesses, big and small,” said John Dunning, the broker who represented both sides of the license agreement.
“The way we connect and do business with one another has changed, it only makes sense that we would also think creatively about the future of how we use real estate.” Dunning also divulged that a small grocery operator had partnered with REEF to do some delivery items off of the lot, as well as Carbon Health (www.carbonhealth.com), who perform some basic medical services, such as rapid Covid testing.
(May 21, 2021 – PLEASANT HILL, CA) –
Southern Comfort Kitchen Inks Lease on Second Location
Southern Comfort Kitchen, a New Orleans style restaurant started in Castro Valley signed a new lease for their second ever brick and mortar restaurant space at Crescent Plaza in Pleasant Hill. The deal, which was officially agreed on April 28th, was a landmark achievement for the business. While restaurants, especially those with food truck divisions, struggled to maintain momentum in the pandemic year, Southern Comfort continued to soar. Brokers Sharon Quintero and Amanda Johnson represented the restaurant.
“We were just 3 people born in Louisiana who came to California to pursue our dream. Our family business wanted to provide good food at a good price. We have always wanted to bring our food to the masses and go up against real franchises and this second location at downtown Pleasant Hill is a great opportunity to do so,” said owner Brett Brill, who runs the organization with his two brothers and under the inspiration from their parents.
The new location fills in the previous spot occupied by Yalla Mediterranean in Crescent Plaza. Part of Pleasant Hill’s retail core, the car and pedestrian-oriented locale will be able to service the movie theater, city hall, among other soon-to-be bustling destinations. Crescent Plaza also recently lost Fat Burger and Sweet Tomatoes, so the center is hungry to fill in vacancies by capable restaurants.
“Covid hit a lot of local favorites hard, but that meant that the ones that were successful even throughout are the real deal,” explained broker Amanda Johnson,. “We’ve seen their trucks all over the Bay Area for years now, and as people begin to go out to eat more and more, it will be great to have another option of a brand they know is good. Southern Comfort has become that brand and they wanted to pounce on the opportunity that presented itself.”
About TRI Commercial/CORFAC International
Founded in 1977, TRI Commercial/CORFAC International is a leading Northern California commercial real estate brokerage and property management firm (with more than 4 million square feet of commercial property under management) specializing in San Francisco, East Bay and the Sacramento Metro property markets. The company has expertise in tenant and landlord representation services and helps clients buy and sell commercial and investment-grade property. The company serves office, retail, land, multifamily and industrial property sectors, with offices in San Francisco, Walnut Creek, Silicon Valley, Oakland, Roseville, Sacramento, and Rocklin. For more information, visit www.tricommercial.com or call Justin Flom in Corporate Marketing at 925.269.3335
CORFAC International is comprised of privately held entrepreneurial firms with expertise in office, industrial and retail properties, tenant and landlord representation, investment sales, multifamily, self-storage, acquisitions and dispositions, property management and corporate services. For more information on CORFAC’s International presence, call the Chicago headquarters at 224.257.4400 or visit www.corfac.com.
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Central Valley Industrial Warehouse Deal is Marker of Logistics/Expansion Balance
TRI Commercial facilitated a lease for Terra Outdoor Living at 2080/2190 East Miner Avenue in Stockton, CA. Terra Outdoor Living, which sells patio and backyard furniture, recently outgrew its previous warehouse location in Richmond, CA. The new space totals 140,000 SF and provides Terra’s logistics capability additional maneuverability in covering Northern California – cutting off an extra hour in the supply chain to access the growing population of the Central Valley.
“As the Bay Area has become more urban and crowded, finding room for large warehouse operations gets tougher,” explained Keith Serne, who represented both Terra and the landlord in the deal. “Geographically, a move to the central valley makes sense for a lot of companies for both economic and logistic reasons.”
When prompted to grow, companies’ warehousing operations frequently look for the best bang for their buck without sacrificing mobility and proximity to their workforce and clientele. “Terra Outdoor Living’s search fit a unique category in which the move both served a financial and logistic benefit,” added Kate Wright, the senior broker who oversaw the transaction and represents the property owner’s portfolio of industrial properties. “…And of course the pandemic may have accelerated the process with people sprucing up their homes while spending so much more time in lockdown.”
RIO VISTA LAND SIGNALS NEW PHASE IN BURGEONING TOWN
Hundred Acres of Land Ready for Development Shaped Around Planned Neighborhoods
– Brian Slocum of TRI Commercial went to market last week on two additional pieces of development land for sale in the Rio Vista, California. The parcels, one measuring just over 24 acres and is Commercial focused; the other is 46 acres which is Industrial focused, flank two sides of the golf-oriented Trilogy by Shea home community. The two sites join a third plot of Industrial/Flex land to the north also for sale which is 33 acres near the Liberty Island active adult and non age restricted residential neighborhoods. Liberty Island residential has sustained explosive sales activity throughout the past year as residents from the inner SF Bay Area continue to spread out.
The town of Rio Vista, located in the Sacramento River Delta equidistant between Sacramento and the East Bay, is one of the more recent newcomers to the urgent demand for housing in the region. The future suburban market has fast-forwarded population with new housing tracts, and the Liberty Island plan is not finished. CalTrans has already begun the process of improving and upgrading sections of Highway 12 running straight past the new neighborhoods.
“As new residential come online, the next phase of regional expansion is signaled by supporting commercial space, which is retail and medical, and then industrial to support the housing development maturing in the region,” shared Slocum. The current available plots of land are planned and zoned for a variety of uses from senior care to industrial.
In the midst of the COVID-19 pandemic, it is essential that landlords continue to educate themselves, communicate openly, and surround themselves with experts in order to stay on top of the ever-changing legal landscape. To help make this possible I am sharing a great conversation I had last week with attorney Daniel Bornstein of Bornstein Law who specializes in landlord-tenant matters. For over 26 years, rental housing providers have relied on Daniel to cauterize risk, realize the full potential of their investment property, and power through unique challenges inherent with owning and operating a real estate business.
Below are some of what I felt were the most relevant and prudent points we discussed.
Daniel, with all that is going on right now, how can landlords in Alameda County best be prepared?
Most important to note right now is that the courts are closed for non-payment of rent cases, there are no jury trials because of social distancing. Alameda County across the multiple cities has issued a prohibition against eviction for non-payment of rent which means right now, if you have a tenant who is not paying rent, you really want to be on-top of communication with that tenant. You should be actively asking why aren’t you paying the rent, is it related to COVID-19, loss of job, childcare needs or something else? Then you need to make a decision: are you going to be differing the rent, renegotiating the lease, or negotiating a buyout of the lease?
One important point is that from a landlord’s perspective knowing the courts are closed, it is in some cases better to have a vacant unit than a tenant not paying the rent in the unit. There is a possibility that you’re not going to gain possession, the non-payment of rent may elapse for more than 6 months, and there is no clarity as to when you’re going to get that vacancy. So, if a tenant says I am willing to vacate if you let me out of the lease that may be perfectly prudent because what is the alternative? The courts are closed, you’re not receiving rent, and to do an eviction right now is not permissible and may not be permissible this year. We are in a very unfortunate situation for many landlords around Alameda County right now.
How would you approach a situation where you have a tenant who is communicating openly and requesting a rent reduction?
That is a good question, and I take it on an individual basis – if you just started a tenancy, and the rent is at market rate, and we are seeing downward pressure on rents, it may be prudent to negotiate a 10-20% reduction in rent and keep that tenant in the unit and happy. In the end, cash-flow is better than no cash-flow, and the issue is whether this is a credible person that you want to do business with or not. In the event that you do have a tenant who is engaged and in good faith and is without a job, you’re going to have to make a decision of whether you are going to delay payment, differ payment or waive rent.
One big note, if you reduce the rent and you don’t do it correctly, you may reset the base rent so that you may be subject to that new base rent in later years when times change. All things equal, I’d rather you defer the rent or just keep track of the debt that is accruing and, in the future, come to a decision of whether you are going to waive it or try and collect it. Alameda County has done something very unusual in that they have indicated that tenants with rent debt that has arisen during the COVID-19 emergency are going to be given 12 months after the emergency is ended to repay that debt. If it is not repaid it will be transitioned to consumer debt, so you will not be able to evict a tenant for COVID-19 related debt. You can take it from the security deposit and you can file a lawsuit against them, but you’re not going to be able to use a three-day notice to pay rent or quit to recover it. Knowing that has basically pushed me to suggest the age-old adage, a bird in the hand is worth two in the bush. Which means if you can collect a portion of the rent now, do so because I don’t know that you’ll ever be able to recover it in the future.
All things being equal, and if you don’t want to get into the complexity – if the rent is $1,000 and you receive $750, you can accept $750 but follow it up with an email saying, ‘I’ve accepted $750, but be advised there is still a debt of $250 for the month of July.’ I’d do it that way and just keep track of the debt that’s accruing.
How has your business changed and what kinds of requests are you getting from clients at the moment?
It’s a tough time to be an attorney right now because the courts are closed! So, what I am typically doing right now is consulting, educating, empathizing and commiserating, because I don’t have that many skills that I can offer right now to help accomplish goals. Which translates to, compromise, compromise, compromise is really what I am suggesting. This is an outlier of an event, I’ve never been involved with a pandemic before, I’ve never seen the courts closed, so this is a work in progress.
As far as an outlook, what if any legal trends you are forecasting?
Trending in my mind is that there is going to be continued downward pressure on rent, and there is going to be more and more tenants that are unable to pay the rent. After July, if there aren’t additional unemployment payments then there is going to be even more tenants unable to pay. Then it will be up to the politicians to decide how they are going to handle this crisis, but my expectation is that we are in for a very long and difficult journey together.
I am particularly concerned about another issue, which is the courts are moving existing cases to September, and they will likely move the existing cases that have been moved to September, to December while we are getting a confluence of new cases that are arising. Our systems are clogged and only will get further clogged, which means if you can avoid litigation, if you can avoid a dispute with a tenant, avoid it, negotiate transitions, and don’t expect to accomplish your goals easily through litigation.
One easy analogy if you’ve been following the news lately, you’ll have seen the actor Johnny Depp has decided to pursue a claim in Britain against his ex. In the process of pursuing litigation, he has ensnared himself in something much larger and from a public standpoint it has been miserable for his reputation. In some respects, the optics of pursuing litigation on a tenant right now are not ideal and only in a last case solution would I pursue it. There are going to be times where you have to pursue it because you have a tenant who is not communicating or cooperating, and you have to seek judicial remedy but for all other instances see what you can do outside of court.
Written By: Teddy Swain, | July 29, 2020
About the Author:
Teddy is a commercial real estate broker and adviser at TRI Commercial Real Estate Services in the San Francisco East Bay. His expertise lies in the acquisition and disposition of East Bay Area Multi-Family and Mixed-Use property as well as Entitlement and Development Opportunities.
Teddy also serves as the Technology Officer on the board of directors for the Certified Commercial Investment Member’s Northern California Chapter (CCIM).
DRE# 02067677 Email: teddy.swain@tricommercial.com –
Direct:925.296.3360
Read original article on The Registry here.
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