After 40 years, the Daum South Bay office is relocating to a new space.

REAL ESTATE: Brokerage moves offices after 40 years.

Daum Commercial Real Estate Services is expanding in the South Bay. The downtown-based brokerage, which has been around for more than 100 years, has relocated to a larger space in Torrance after 40 years in its previous South Bay office space.

The office is being led by executive vice presidents Brad Levin and Chuck Brill.

“Our (old) offices were tired and dated,” Levin said of the decision to move.

Brill added that the space the brokerage settled on was “what we were going to do to our offices if we stayed there.”

“We found it was a lot easier to move there, and we think it will help to attract the younger generation,” he said.

The new space is 30% larger than Daum’s old South Bay office space, which Levin said will allow the firm to bring in new hires.

The firm has been growing in other ways too. Its year-over-year gross revenue rose by 23.2% in 2020, 41.8% in 2021 and 21.3% in 2022.

“We’ve been having record years and have been in a money-spending mode and trying to hire and improve services and staff and marketing capabilities,” Levin said.

He added that with the South Bay expansion, Daum was able to “take advantage of the market turn and get a much better space for our needs.”

Brill added that the market changes would help the company continue to grow.

“Whether the economy is expanding or not, we’re in the middle either way,” Levin said. “We feel well positioned whichever way the economy swings to have growth.”

In the South Bay the company is working on a lot of industrial real estate transactions, where Levin sees strong demand.

“The South Bay has been a very good hub for the industry, and we’ve been able to capitalize on that,” Levin said.

Brill said the company, which is in Southern California and Arizona, had no current plans to enter new markets but was “always actively looking” at acquisitions of other companies and growth.