Douglas Wax

Douglas Wax matriculated with the Class of 1961 but did not graduate.

December 28, 1939 – January 3, 2021 Douglas Frazier Wax passed away peacefully at the age of 81 on the morning of January 3, 2021 at his home in Newbury Park. He was surrounded by his loving family. Doug was born in Berea, Ohio to Ervin “Doc” Wax and Margaret (Frazier) Wax. Doug and his sister Susan grew up in Ohio later moving to Boston, Massachusetts. Doug demonstrated a strong work ethic early on with his own paper route. As a Boy Scout he earned the rank of Eagle Scout. Doug was an exceptional student graduating Wellesley High School at age 17 and enrolling at Yale University.While at Yale, on a blind date, Doug met a foreign exchange student from Finland named Arja Lahti. After a brief courtship Doug and Arja were engaged. In 1963 they married, the same year that Doug graduated from Yale with a Bachelor’s Degree in History and Economics. Doug and Arja moved to California where they would spend the next 57 years together. Doug began his professional career in banking with United California Bank. During that time Doug earned his MBA from USC. He would later go on to found American West Bank in Encino, CA in the mid 1980’s. Doug’s business acumen drew him away from banking and into real estate. In 1972 he obtained his real estate license and joined the McDonald Company in Woodland Hills, CA performing industrial real estate transactions. Doug excelled and after 4 years at the McDonald Co., he and fellow agent, Robert Lipson, formed their own company, Industrial Park Associates (IPA.)After 10 years of rapid growth IPA was sold to Daum Johnston America. Doug remained with Daum for 3 years, achieving the mark of top agent in the Valley office in 1987, 1988 and 1989. In 1990 he went back on his own reviving the IPA name and assembling top agents to work with him at the new firm. Doug’s son, Mike, joined him in the business in 1997. In 2002 the company moved to Oxnard, CA where it remains active to this day. Doug retired in 2018, but still visited the office regularly until late fall 2020. He loved putting deals together and was an encyclopedia of industrial real estate knowledge. Doug was well known for his integrity and ethical treatment of his clients and fellow brokers.At the time Doug cofounded IPA he also began developing industrial buildings for his own account and for clients. He would go on to develop over 50 industrial buildings in the cities of Canoga Park, Chatsworth, San Fernando, Sylmar, Valencia, Simi Valley, Camarillo, Oxnard and Ventura. Doug was an active member and 2-term president (1981-1982) of AIR CRE (formerly the American Industrial Real Estate Association.) Doug mentored a number of his clients and their family members, shaping them into successful real estate developers with significant real estate holdings.Doug and Arja loved traveling, visiting Arja’s homeland of Finland numerous times as well as China, France, and Argentina to name a few. They most recently visited Northern France in the summer of 2018. Doug had a great sense of humor and enjoyed planning parties, throwing multiple anniversary and birthday parties for himself and his children.Doug was involved in several charities and previously served as a board member of Pacific Boys Lodge in Woodland Hills and later at El Centrito de La Colonia in Oxnard. He enriched the lives of many and will be deeply missed by all.Doug is survived by his wife of 57 years Arja L. Wax, his son Mike Wax (wife Stacie), daughter Nora Plechner (husband AJ) and daughter Alexa Smith (husband Chris) as well as 11 grandchildren. Doug is preceded in death by his sister Susan Hauser and his parents Doc and Margaret Wax.Due to Covid no funeral service is planned at this time. In lieu of flowers please consider a donation to your local food shelter.

Published in Los Angeles Times from Jan. 9 to Jan. 10, 202