When professional athletes need to change cities and abodes, Ikem Chukumerije and his sports relocation company handle all the details. And if it’s appropriate, he seeks out commercial real-estate properties for his pro sports clients.
“I help athletes focus on assets that will generate passive income,” he says. He’s the principal broker at Marina del Rey-based Dapadon Enterprises and a licensed broker in eight states.
Although commercial real estate may pose more risk and require more administration than a residential play, “there are so many options to get into it, from strip malls [retail centers], multi-unit buildings, industrial buildings and creative office spaces,” Chukumerije says.
Lately, he’s been pursuing client opportunities for commercial spaces with development potential in and around Inglewood, where the soon-to-be-completed Los Angeles Stadium & Entertainment District (plus retail and residential) has already impacted the market. The new stadium will be home to L.A.’s NFL franchises Rams and Chargers.
“A lot of commercial transactions are happening off-market; it’s hard to find a deal,” he says. There’s so much anticipation that adjacent areas are also attracting sports/entertainment industry investors. He recently closed a $3 million deal for Issa Rae on an industrial warehouse in Hyde Park, about five miles from the stadium.