KB Partnership Awards Charles Dunn Company 1.1 Million Square Foot Industrial Property Management Assignment
LOS ANGELES, CA – June 6, 2012 – (RealEstateRama) — Charles Dunn Company, one of the largest full-service regional real estate firms in the Western United States, has been awarded the KB Vernon Portfolio, a nearly 1.1 million square foot property management assignment from KB Partnership, a partnership between Black Equities and ARKA Properties both based out of Beverly Hills, California. The KB Vernon Portfolio totals ten buildings and is nearly 100 percent occupied. It consists entirely of industrial properties in the cities of Vernon and Los Angeles.
With this latest assignment, Charles Dunn Company now manages a total of 6.6 million square feet of industrial property located throughout Los Angeles County with a total property management portfolio in excess of 23 million square feet throughout California, Utah, Pennsylvania, Florida, Ohio and Arizona for third-party clients. The firm has added approximately 2 million square feet of property management assignments so far this year.
“Charles Dunn Company has a very diverse and experienced group of property management professionals who are committed to providing exceptional, individualized service to each and every client,” said Karen Meyer, senior portfolio manager with Charles Dunn Company’s Management Services division who will lead the management for the KB Vernon Portfolio. “We are pleased that KB has given us the opportunity to manage this large portfolio consisting of manufacturing, distribution and storage facilities.”
The industrial market vacancy rate is approximately four percent within the markets the portfolio is located.
“Despite the strong industrial occupancy level in the Los Angeles and Vernon areas, Charles Dunn Company continues to hold steadfast to its goal of attracting and retaining tenants and adhering to the all-important principle of anticipating the needs of both tenants and ownership in order to maximize value for both,” said Patrick Conn, president of Charles Dunn Company’s Management Services division.
Following is a list of the portfolio properties:
• 4815, 4851 and 4871 S. Santa Fe Avenue, 2231-2375 E. 49th Street & 2300-2390 E. 48TH Street in Vernon. The four buildings are located within the Santa Fe Industrial Park and total 809,427 square feet with major tenants including Whole Foods, Cargill and Coremark.
• 4900, 4950 and 4960 S. Santa Fe Ave. and 2430 E. 49th St. in Vernon. The four buildings total 200,957 square feet. One of the major tenants includes Crystal Art Gallery. The buildings are primarily used for a distribution center of art for home furnishings as well as garment manufacturing.
• 4900 and 5716 S. McKinley Ave. in Los Angeles. The two buildings total 74,800 square feet. One of the major tenants includes Morrissey Brothers Printers.
About Charles Dunn Company
Charles Dunn Company is one of the largest full-service regional real estate firms in the Western United States. Established in 1921 and headquartered in Los Angeles, the firm’s brokerage practice continues to be a market leader. The firm also manages more than 23 million square feet of office, industrial, retail, residential and mixed-use properties for third party clients and provides construction management, architecture and design, general contracting and capital markets services. With more than 260 team members in nine offices, Charles Dunn Company’s reach extends far beyond its physical locations, as its experienced professionals leverage their market knowledge, relationships, and expertise to achieve and exceed client expectations. www.charlesdunn.com
