BRIAN SLOCUM IS LATEST Bay Area Broker to JOIN SIOR

TRI Commercial Celebrates Rare Honors Granted to Industrial Expert Slocum

 

(March 25, 2022 – Walnut creek) –  Earlier this week, Brian Slocum, Senior Executive Director at TRI Commercial’s Walnut Creek office received the certificate designation with SIOR, the Society of Inudstrial and Office Realtors. SIOR is an international organization connecting and honoring real estate brokers specializing in the sale and acquisition of industrial and office properties.

 

“Since starting in CRE brokerage I have always admired SIOR as an organization, as well as the brokers who are members. SIOR designees comprise some of the very best in the industry who are at the top of their game,” said Slocum. Designation as an SIOR affiliated broker requires candidates to undertake an extensive application and recommendation process that takes several years and a proven track record. Slocum was the second most productive broker in TRI Commercial’s Bay Area region in 2021 and currently represents over 160 acres of property for sale.

 

Among TRI Commercial’s SIOR professionals, Slocum joins President Emeritus, Tom Martindale.

Brian Slocum, SIOR Designation

Brian Slocum designated as internationally recognized SIOR Broker

2Spec Machining Bears Standard of an Undamaged Industrial Sector

(May 21, 2021 – SAN JOSE, CA) –

 

2Spec Machining purchased the freestanding industrial manufacturing building at 260 Cimino Street on Friday, May 14th. Located across from The Plant Shopping Center and on the other side of the Almaden/Guadalupe Freeway from Willow Glen, the 9,552 SF shop is the corner-forward structure along Little Orchard Street in the neighhborhood’s industrial cluster. The building, as purchased, was divisible into 4 units, however 2Spec Machining intends on occupying the entire space.

Finding industrial space of this type is a difficult prospect in San Jose at the moment for small, growing manufacturing operations. “They’ve been looking for a while now,” said Marty Morici, the senior broker representing the buyer. “In order to make this kind of buy happen, you have to move fast. We toured on Thursday, and on Friday our offer had been accepted.”

 

2Spec, which nearly doubled the amount of space they needed, is a good presentation of the unique challenges faced by small businesses in San Jose, where large companies absorb satellite property, but also keep the market resilient against the pandemic’s recession effects. SBA Financing was an important key in keeping 2Spec’s offer competitive and nimble, however the challenges don’t end there – the seller, a previous owner/user of 260 Cimino Street, is moving their operations to Texas. Expensive, crowded markets will always demand the question of whether to cash out or dig in during times of transition.

 

260 Cimino Street was sold at $3,250,000. The seller was represented by Marty Morici, Kate Wright, and Scott Bendorf of TRI Commercial.

 

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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2018 Q3 TRENDS – San Francisco – Office

2018 Q3 TRENDS – Sacramento – Office

2018 Q3 TRENDS – Sacramento – Retail

2018 Q3 TRENDS – Sacramento – Industrial

  

   

   

 

  

 

Award-winning San Francisco investment advisor Gary Cohen has a gift for unsnarling quirky puzzles in #CRE. His five-year quest to track down the owners of 500 Turk St. and acquire the property on behalf of his client, Tenderloin Neighborhood Development Corporation, is a prime example.

Through his work with TNDC, Gary is always on the lookout for potential sites for affordable housing development in San Francisco. The property at 500 Turk St. was perfect, but seemingly unattainable. It hadn’t been on the market in 50 years or more.

“Everyone in town had their eye on that property, but no one could figure out who owned it,” Gary said. An infamous tire repair shop, Kahn & Keville, had been there for decades, remaining virtually unchanged as the neighborhood modernized around it. It was clear that the current ownership was not aware of the potential of the property. An initial public records search revealed that it was held in a trust, but all the trustees had long since passed away. Gary’s interest was piqued.

“It was really a question of digging past the surface,” he said. “The rent had to be going somewhere . So, I decided to follow the money.”

For five years, Gary chipped away at the mystery, sifting through old records and circumventing dead ends until he found a 1953 trust document that led him to the former owner’s son. He’d inherited the property with his sisters, who also live out of state.

Once Gary managed to connect with the owner, it was a fairly uncomplicated transaction. His determined detective work paid off with a win for all the parties. TNDC got a great property for a new affordable housing project, and the owner transformed an under-performing asset and traded into a more conveniently-located East Coast property with a significantly enhanced return.

It’s like the saying goes, “Never stop trying. You’ll never know how close you were to succeeding…”

 

Q2 2017sac industrial trends

Scott Vix Perserverance 2.jpg

In a world of 24/7 connectivity and a glut of available high-tech tools and toys, TRI Senior Vice President Scott Vix just proved the enduring value of patience and persistence. Five years’ worth of these virtues, to be exact. Scott is an office and industrial adviser who worked with Hernandez Engineering starting in 2012 to find a location for their sizable San Francisco equipment storage yard.

The San Francisco land/industrial market is tight and finding a large undeveloped lot in the City was a challenge. “There’s not a lot of raw vacant land left in San Francisco and competition is fierce, but I was determined to get my client the space they needed,” he noted.

Just last month, Hernandez finally acquired the perfect 19,728-sf lot in Bayview for $1.55M. The property was formerly a rail spur, where train cars could be loaded and unloaded without disrupting traffic on the main line.