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About Patrick Daum

After completing an Engineering degree at the University of Illinois, I moved to the Ann Arbor area in 1973. For many years I worked at Ford Motor Company in Product Development as an Engineering Dept. Manager. I also obtained a Masters in Business Administration degree from the University of Michigan, raised three children through the Ann Arbor public school system, participated in and coached several sport teams, and lived in 9 different locations across the county. I have a solid understanding of the community and all that Washtenaw County has to offer. I currently live near Chelsea, Michigan with my wife, Susan, and my step-daughter, Kali.

By tapping into my engineering and management background, I maintain close attention to details, timeliness, organization and love working with people. I can drive my fellow agents, lenders, and title companies nuts, but my clients enjoy the comfort of knowing their best interests are being protected. I enjoy helping people accomplish their personal goals in buying and selling real estate. I find it rewarding to see the joy on people's faces when they are able to make the next step in their lives.

Contact me and I will ensure an appropriate specialist from our qualified and dedicated team is meeting your real estate needs.

Sours: https://www.realtor.com/realestateagents/56d6096ab5cc660100bccf0a

Pico Rivera Industrial Property Sells for $63 Million

8500 Mercury Ln. in Pico Rivera

8500 Mercury Ln. in Pico Rivera

A 173,134-square-foot industrial property in Pico Rivera has sold for $63 million.  

Chicago-based CenterPoint Properties purchased the property from the owner-occupier in a sale-leaseback transaction.

Daum Commercial Real Estate’s Jordan Lara, Rudy Lara and Nick Peukpiboon represented CenterPoint Properties in the off-market sale.

The property is located at 8500 Mercury Lane and has 32-foot clear heights and 24 dock-high doors with the potential for six more.

“This property is a true core investment, providing the buyer the incredibly rare opportunity to add a high-quality industrial property with long-term stabilization in an infill Los Angeles County location to its portfolio,” Lara said in a statement. “We were able to effectively demonstrate the current and future value of the property and its location within an emerging submarket, ultimately closing what is one of the highest per-square-foot industrial sales for a building of this quality and size in the county to date.”

The property, according to Daum, could eventually be repositioned as a two-tenant facility.

In a sale leaseback, the seller sells a property, then leases it back. 

The Central Los Angeles industrial submarket has been in high demand. During the second quarter of the year, the market saw a vacancy rate of 2.7%, compared with 4.5% the year prior, according to data from Jones Lang LaSalle Inc.

The market, according to JLL data, had 4.2 million square feet of industrial product sell or lease, up from 1.4 million square feet the year prior. And asking rents were $1.04 on a triple net basis, up 4 cents in a year.

For reprint and licensing requests for this article, CLICK HERE.

Sours: https://labusinessjournal.com/news/2021/sep/24/pico-rivera-industrial-property-sells-63-million/
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DAUM arranges $12M Tolleson industrial lease

DAUM Commercial Real Estate Services has arranged the lease of a recently built industrial warehouse in the Phoenix suburb of Tolleson, Ariz. The firm worked on behalf of Calgary, Canada-based Hopewell Development, whose U.S. portfolio also includes properties in Texas and Nevada.

National distribution company Republic National Distributing Co. leased the space within two months of the property’s completion. The 173,940-square-foot lease consideration amounts to $12 million.

READ ALSO: 24.48 acres of land in Tolleson sells for $6.4M

DAUM’s Executive Vice Presidents Chris Rogers and Trevor McKendry, along with Associates Dan Casey and Parker Houston completed the deal.

Located at 320 S. 91st Ave., the building features 28 dock-high loading doors, a 32-foot clear height, 3,600 amps, R-19 insulation, four grade level doors, a fenced and gated concrete truck court with 130-foot depth, an ESFR sprinkler system and LED lighting.

The unoccupied land was sold to Hopewell back in June of 2019. Rogers noted that the company then partnered with Sunstate Builders in delivering the state-of-the-art property. McKendry added in prepared remarks that Republic National Distributing Co. was attracted to the location because it is situated 10 miles outside of downtown and offers convenient access to Interstate 10.

Cushman & Wakefield’s Andy Markham and Will Strong, along with Mike and Phil Haenel, represented the new tenant. DAUM has been very active in arranging leases within the Phoenix area. In August, the company represented the landlord and assisted tenant Empire Metal Products in the lease transaction of a 42,000-square-foot industrial property.

Sours: https://azbigmedia.com/real-estate/daum-arranges-12m-tolleson-industrial-lease/
Orange County Commerce Center - Project Flyover

State Official Grows Local Landlord Biz

Thomas Breen photosA top state economic development official and local zoning board member is also a city landlord on the move — actively buying, renovating, managing, and selling rental properties in New Haven’s red-hot housing market.

That public official/private landlord is Alexandra Daum.

The 33-year-old downtown resident has served as the deputy commissioner and chief investment officer for the state Department of Economic and Community Development (DECD) since March 2020. She has been a member of the city Board of Zoning Appeals (BZA) since last September.

She also heads a local real estate company, Field Properties, that she founded two years ago after working as a senior development manager at NHR Group and, prior to that, as a project manager in Northern California real estate and as a corporate consultant for Bain.

According to recent city land record filings, Daum remains an active player in the New Haven residential rental real estate market even as she has assumed new local and state public responsibilities.

Daum told the Independent by email that she currently owns 14 properties in New Haven, including her personal residence.

Those rental properties include two adjacent three-family homes on Huntington Street on the Prospect Hill/Newhallville border, a handful of two- and three-family homes on Portsea Street and Vernon Street in the Hill, a seven-unit apartment building on Sheffield Avenue near Albertus Magnus College, and, her most recent purchase, a six-unit apartment building on Cottage Street in East Rock. Daum owns these properties through a variety of holding companies, including Stay New Haven LLC, 58 Vernon LLC, Portsea Properties LLC, and others with names that reflect the address of the buildings in question.

According to the city’s online land record database, her most recent property sale took place on May 13, when her holding company 68 Sheldon LLC sold the three-family house at 68 Sheldon Terrace for $520,000 to George Xu and Kathleen Chan. Daum’s company bought that property for $390,000 in 2019, and the city last appraised it as worth $205,800.

Her most recent local real estate purchase, meanwhile, took place on Feb. 26, when her company Stay New Haven LLC bought the six-unit apartment house at 146 Cottage St. from Laurence Nadel for $704,438. That property last sold for $320,000 in 1987, and the city last appraised it as worth $527,200.

Daum was asked about potential conflicts of interest among her state job overseeing public investment in local economic development projects, her local volunteer government position reviewing and voting on land-use-law-relief applications, and her local landlord job buying, managing, and selling residential real estate in New Haven.

She told the Independent that she has worked hard to maintain clear, ethical boundaries between those roles.

“For both my role at the State and on the Zoning Board there are clear procedures in place to ensure that there are no conflicts of interest,” she said by email. “On the BZA, if an application comes forward for a project that would financially impact a property in which I have an interest, I would recuse myself from voting on that matter. The Corporation Counsel’s office is available to advise if there is any question as to whether I should recuse myself.

“At the State, if DECD was evaluating funding a project that would impact a property in which I have an interest, another senior DECD official (as opposed to me) would make any discretionary decisions/awards for that project.”

Daum told the Independent that she checked with the Connecticut Office of State Ethics before taking on the BZA role. That state office “confirmed that there was no conflict from their point of view,” she said.

Since joining the BZA, a board that has been plagued in recent years by spotty attendance, successful legal challenges, and occasionally inscrutable (and seemingly politically influenced) decisions, Daum has encouraged her fellow commissioners to stick to the letter of the law and to treat similar applications equally. She has also advocated for loosening the city’s parking minimum mandates to make it easier to build more housing.

A tenant at a Wooster Square rental property that Daum used to own, meanwhile, praised the local landlord as exceptionally responsive and considerate.

“Alexandra was great. She was fantastic,” said the tenant, who asked to remain anonymous for this article. They said that Daum was “super prompt” in answering calls from renters and in fixing up the property when it needed maintenance.

That tenant’s one complaint about living at in an apartment formerly owned by Daum? “The current landlord,” the tenant said, whom they described as less communicative and harder to work with than Daum.

“Market Very Strong For Sellers”

Recent land record filings also show that, when Daum sells one of her local rental properties, she usually dose so at quite the markup on the price she bought it for.

Her most recent sale, of the three-family home at 68 Sheldon Terrace in early May, was for $130,000 more than she bought that property for two years ago.

Her second most recent sale took place on Feb. 4 of this year.

Her company 66 William LLC sold the six-unit apartment house at 66 William St. and the three-family house at 70 William St. to William Street Rentals LLC—a holding company controlled by Catherine Jenney, Robert Jenney, and Barbara Keegan—for a combined sum of $1.35 million.

That was $460,000 more than the $890,000 she paid for those properties two years ago when she bought them from Zevulun Associates LLC, a holding company controlled by Pike International’s Shmully Hecht.

City building permit records show that Daum fixed up the two properties she sold this year at a profit. Those online building permit records show that she pulled a permit for a new steam boiler for 68 Sheldon Terrace in September 2019. She also pulled a permit for new natural gas power vented water heaters and new outdoor condensers for 66 William St. in January 2021.

“68 Sheldon and the William Street properties were in need of a lot of love when I bought them so I did add a lot of value by renovating the units,” Daum told the Independent when asked about how she improved these properties between when she bought and sold them.

“In terms of why I sold them, as you know the market is very strong right now for sellers!”

Mandy Spends $3.6M+ On 37 More Apts.

Google Maps photoIn other recent property transactions, affiliate companies of the local megalandlord Mandy Management recently spent more than $3.6 million buying 12 different properties containing 37 different housing units.

Those recent Mandy purchases include:

• 224 Wooster St., a six-unit apartment building that Mandy’s SFR 2 DE LLC bought for $1 million on May 11.

• 32 Clinton Ave., a nine-unit apartment building that SFR DE LLC bought for $700,000 on April 29.

• 1596 Ella T. Grasso Blvd., a three-family house that SFR DE LLC bought for $350,000 on April 30.

• 91 Norton St., a three-family house that SFR DE LLC bought for $260,000 on May 24.

• 359 Sherman Ave., a three-family house that SFR DE LLC bought for $240,000 on April 27.

• 126 Rosette St., a two-family house that SFR DE LLC bought for $210,000 on April 30.

• 92 Asylum St., a three-family house that SFR DE LLC bought for $200,000 on May 12.

• 143 County St., a two-family house that SFR DE LLC bought for $170,000 on May 14.

• 308 Poplar St., a two-family house that SFR DE LLC bought for $157,000 on May 24.

• 41 Osborn Ave., a two-family house that SFR DE LLC bought for $135,000 on April 30.

• 66 Crescent St., a single-family house that Mandy’s 66 Crescent LLC bought for $103,500 on May 10.

• 16 Rock St., a single-family house that SFR DE LLC bought for $78,000 on May 20.

New Haven city land records database

Tags: Alexandra Daum, property sales

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posted by: Dennis.. on June 7, 2021  9:36pm

She has been a member of the city Board of Zoning Appeals (BZA) since last September.

Did she disclose her background when she applied for the BZA position?

Does she receive confidential information that would give her an edge when buying properties?

Has she recused herself from any decisions?

I think we need to know more.

posted by: Kevin McCarthy on June 8, 2021  6:53am

Dennis, the answer to your first question is yes - see Tom’s 9/22/20 NHI article. And BZA members don’t get confidential information. If they did, this could subject their decisions to court challenge as being based on evidence not in the public record. (One of the few things I remember from the Administrative Law class I took 40+ years ago 🤓). Finally, I suspect that the standards for recusal at the municipal level are similar to those that apply to the state. Decision-makers should recuse themselves if they have a personal interest in a case. The interest could be relational, e.g., the applicant is your spouse’s nephew, or financial.

I have never met Ms. Daum. But I respect the fact that, by following the law, she is illustrating the need to update the zoning ordinance.

posted by: Ryn111 on June 8, 2021  8:53am

Ms Daum was involved in local real estate long before she took a position at the State or on the BZA. This business was vetted by City of New Haven and the State of CT.

She is a great LOCAL landlord who lives in town and serves her community. Just looking at the photos of her properties she is clearly an asset to New Haven and its tenants.

posted by: BeaverSam on June 8, 2021  10:13am

Good for her! Very successful at only 33. And she’s rockin’ the 1950s wallpaper in the Zoom call too! What’s not to like?

posted by: Dennis.. on June 8, 2021  11:09am

Kevin - Thank you for answering the questions. I was reading too much into the article. Ms. Daum has built a very successful business. Congratulations!. Perhaps Tom can update the article for some of the facts you mention. Thanks again!

posted by: Razzie on June 9, 2021  6:07pm

Gentrification Vampires?!!

That term comes to mind when I read this article. That’s an awful lot of flipping going on ...and a ton of profit to be taken. I guess there’s nothing illegal about that.

“She told the Independent that she has worked hard to maintain clear, ethical boundaries between those roles.”

To most people it doesn’t pass the smell test.

Sours: https://www.newhavenindependent.org/index.php/archives/entry/property_sales26/

Properties daum

DAUM Commercial Inks 255 KSF Los Angeles Sublease

DAUM Commercial has negotiated a 254,700-square-foot, full-building industrial sublease in La Mirada, Calif. Associate Nate Ortega and Executive Vice President Casey Mungo assisted the sublessor, All-Ways Pacific. JLL Executive Vice President Wade Tift negotiated on behalf of the new tenant, Orange Courier. The six-year agreement has a value of $14.8 million.

Located on 12 acres at 15300 Desman Road, the single-story facility was completed in 1999. The building has 41-foot clear heights, an ESFR sprinkler system, one grade-level door and 43 loading docks. Robertson Properties Group acquired the asset for $52.9 million from AEW Capital Management in April 2019, according to Yardi Matrix.

Orange Courier will move its operations 20 miles northwest from a 129,600-square-foot warehouse at 3731 W. Warner Ave. in Santa Ana. The new space allows the company to nearly double its footprint. Less than 1 mile from Interstate 5, the Desman Road property is within 25 miles of downtown Los Angeles and the metro’s major shipping ports.

Earlier this month, DAUM Commercial arranged a 52,800-square-foot industrial lease for Westlake Storage Solutions in Thousand Oaks, Calif. The tenant moved its operations from a 52,597-square-foot property in Westlake Village.

If you’d like to be featured in Brokers’ Corner, simply fill in our short form or send your deal to [email protected].

Sours: https://www.commercialsearch.com/news/daum-commercial-inks-255-ksf-los-angeles-sublease/
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