We purchased an under-utilized, value-add industrial property and are executing a plan to reposition it through renovation and modernization to fulfill the needs of a premier tenant in the marketplace.
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Los Angeles, CA (PRWEB) September 06, 2017
RDS Investments, a Beverly Hills real estate company renowned for purchasing commercial property and customizing the space for its tenants, recently purchased a 25,000-square-foot industrial building in Burbank, CA, which it subsequently leased to Universal Hospital Services. The multi-year lease with Universal Hospital Services, the leading nationwide provider of healthcare management and service solutions, commences in October 2017.
“We purchased an under-utilized, value-add industrial property and are executing a plan to reposition it through renovation and modernization to fulfill the needs of a premier tenant in the marketplace,” said Michael Ezer, who handles investments and acquisitions at RDS Investments. “Phase 1 is scheduled to be completed by October 15, 2017, and Phase 2 by March 21, 2018.”
RDS, which purchased the property for $5 million, has already spent $1 million on customized tenant improvements, including the engineering and build-out of a fully insulated air-conditioned warehouse to provide the right environment for Universal Hospital Services’ technicians and specialized medical equipment.
RDS also recently invested in a $22 million mixed-use development in Glendale, CA. This joint venture with several predominant real estate investors features forty-two apartment units called the “L Lofts,” a Panda Inn and a five-screen Laemmle theater. The development is scheduled for grand opening in August.
Industrial brokerage team Executive Vice Presidents David Young and Chad Gahr with NAI Capital’s Encino office represented RDS Investments in the leasing of the property. “We knew that 7565 Lockheed Drive was a ‘best-in-class’ distribution building in a supply constrained market with tremendous barriers to entry. The property received a lot of interest from prospective tenants and generated multiple lease offers when we brought it to market,” said Young.
About RDS Investments
RDS Investments, founded by Robert Shipp in 2000, provides in-house management for over 60 properties and 500 tenants ranging from Fortune 500 companies to small family businesses in California, Nevada and Utah. Focusing primarily on purchasing commercial real estate, Mr. Shipp has acquired several million square feet, both separately and co-owned with other family offices and friends. For more information, please call (310) 209-5554, or visit http://www.rdsinvest.com. RDS Investments is located at 9701 Wilshire Blvd., Suite 1110, Beverly Hills, CA 90212.
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