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Thursday, December 27, 2012

HFF Arranges $78M for Mixed-Use

WEST HOLLYWOOD, CA-The Sunset, a 177,949-square-foot office, retail and office-plaza building with parking reaps the benefits of a refi.






via Los Angeles http://www.globest.com/news/12_508/losangeles/office/HFF-Arranges-78M-for-Mixed-Use-328288.html

Wednesday, December 26, 2012

Skill and Liquidity Make Kilroy Nimble

LOS ANGELES-Attorney Tony Natsis from Allen Matkins tells GlobeSt.com why Kilroy Realty Corp. is able to close several large deals at once.






via Los Angeles http://www.globest.com/news/12_507/losangeles/office/Skill-and-Liquidity-Make-Kilroy-Nimble-328291.html

Griffin Capital Nabs Health Net HQ

EL SEGUNDO, CA-GlobeSt.com learns exclusively that the 146,000-square-foot office building was purchased for $22.65 million.






via Los Angeles http://www.globest.com/news/12_507/losangeles/medical_office/Griffin-Capital-Nabs-Health-Net-HQ-327988.html

Emerging Office-Use Trends Raise Issues

LOS ANGELES-Parking needs and adaptability to future tenants must be assessed before offices get too ‘creative,’ say two real estate and land-use attorneys.






via Los Angeles http://www.globest.com/news/12_507/losangeles/office/Emerging-Office-Use-Trends-Raise-Issues-327993.html

Friday, December 21, 2012

Kilroy Ditches Industrial Portfolio for $355M

LOS ANGELES-Institutional buyers purchased the portfolio and two small office projects, which total approximately 3.7 million square feet.






via Los Angeles http://www.globest.com/news/12_503/losangeles/office/Kilroy-Ditches-Industrial-Portfolio-for-355M-327955.html

Kennedy Wilson JV Bags Ritz-Carlton Assets

LOS ANGELES- KW acquires a 50% ownership interest in two Lake Tahoe properties in this week’s wrap-up of West Coast deals.






via Los Angeles http://www.globest.com/news/12_506/losangeles/hotel/Kennedy-Wilson-JV-Bags-Ritz-Carlton-Assets-327925.html

Apts. Developed for Gen Y Renters

GLENDALE, CA-AMF Development LLC tops out on Elevé Lofts & Skydeck, a mixed-use complex here geared toward the young urban demographic.






via Los Angeles http://www.globest.com/news/12_505/losangeles/multifamily/Apts-Developed-for-Gen-Y-Renters-327874.html

Kilroy Ditches Industrial Portfolio for $355M

LOS ANGELES-Institutional buyers purchased the portfolio and two small office projects, which total approximately 3.7 million square feet.






via Los Angeles http://www.globest.com/news/12_504/losangeles/acquisitions_dispositions/Kilroy-Ditches-Industrial-Portfolio-for-355M-327803.html

Strong Second Half Awaits Industrial Sector

LOS ANGELES-GlobeSt.com learns exclusively that strong absorption and large warehouses mean the industrial sector has a bright future, according to a recent Jones Lang LaSalle West Coast industrial brokerage meeting.






via Los Angeles http://www.globest.com/news/12_504/losangeles/industrial/Strong-Second-Half-Awaits-Industrial-Sector-327806.html

Aragon Buys Multi-State $100M Apartment Portfolio

BEVERLY HILLS, CA-Aragon Holdings expands into two new markets with the acquisition of three properties in Atlanta and Denver, and deploys approximately half of the $52 million it raised in its recently-closed private equity fund.






via Los Angeles http://www.globest.com/news/12_502/losangeles/multifamily/Aragon-Buys-Multi-State-100M-Apartment-Portfolio-327738.html

BH Returns to Aggressive Buying Mode

LOS ANGELES-GlobeSt.com exclusively learns that the 15-year-old firm is bullish on acquisitions and plans to buy even more in 2013.






via Los Angeles http://www.globest.com/news/12_503/losangeles/acquisitions_dispositions/BH-Returns-to-Aggressive-Buying-Mode-327748.html

Champion To Triple Acquisition Volume

LOS ANGELES-The firm adds Alex Saunders to serve as a partner of Champion-Saunders Multi-Family Investments, a multifamily platform that will target value-add through the Western US.






via Los Angeles http://www.globest.com/news/12_502/losangeles/multifamily/Champion-Partners-Plans-To-Triple-Acquisition-Volume-327706.html

Large Office Sale, Lease on Wilshire

LOS ANGELES-GlobeSt.com learns exclusively that Charles Dunn Co. has completed a $15.5-million office sale in addition to a 19,042-square-foot lease on Wilshire Blvd.






via Los Angeles http://www.globest.com/news/12_502/losangeles/office/Large-Office-Sale-Lease-on-Wilshire-327710.html

Allen Matkins Gathers 700 Industry Pros

LOS ANGELES-The party is billed as the annual networking event of the season as commercial real estate executives from all facets of the industry attend.






via Los Angeles http://www.globest.com/news/12_502/losangeles/legal/Allen-Matkins-Gathers-700-Industry-Pros-327714.html

DTZ Rallies Forces for Americas Strategy

LOS ANGELES-Now officially established as a US-based provider, the firm is ready to roll out its push to increase its global footprint, with Canada, the US and Latin America in its sites.






via Los Angeles http://www.globest.com/news/12_500/losangeles/office/DTZ-Rallies-Forces-for-Americas-Strategy-327658.html

CBRE Global Investors Closes $1B Fund

LOS ANGELES-The value-added fund has equity commitments from nearly 22 institutional investors in the US and Europe and has exceeded its target.






via Los Angeles http://www.globest.com/news/12_501/losangeles/finance/CBRE-Global-Investors-Closes-1B-Fund-327657.html

Loews, MetLife Form JV to Own Hotel

LOS ANGELES-The venture involving 632-room Hollywood Hotel augments the firm’s partnership with MetLife, which also owns Loews Atlanta Hotel.






via Los Angeles http://www.globest.com/news/12_500/losangeles/hotel/Loews-MetLife-Form-JV-to-Own-Hotel-327624.html

Kennedy Wilson JV Bags Ritz-Carlton Assets

LOS ANGELES- KW acquires a 50% ownership interest in two Lake Tahoe properties in this week's wrap-up of West Coast deals.






via Los Angeles http://www.globest.com/news/12_506/losangeles/hotel/Kennedy-Wilson-JV-Bags-Ritz-Carlton-Assets-327869.html

Chino Industrial Trades for $3.1M

Armon Investments LLC purchased the industrial building at 13951 Monte Vista Ave. in Chino, CA for $3.1 million, or about $35 per square foot, from Sundance Spas, Inc. The private partnership plans on completing a multi-million dollar renovation on the high-vacancy property and making it available for lease or sale in the near term. Built in 1973, the former spa manufacturing site totals 87,500 square feet on five acres located at the northeast...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Chino-Industrial-Trades-for-$31M/144019?ref=/News/Article/Chino-Industrial-Trades-for-$31M/144019&src=rss

Murrieta Plaza Retail Bldg Changes Hands for $2.5M

Erudite Capital LLC purchased the 40,000-square-foot retail building at 40508 Murrieta Hot Springs Rd. in Murrieta, CA for $2.5 million, or about $63 per square foot. The buyer will be renting out the space, formerly occupied by SK Furniture. Built in 2006, the property sits on 3.7 acres as part of the Murrieta Plaza shopping center located at the southeast corner of Murrieta Hot Springs Road and the I-215. Mike Hanna, Michael Strode and Charley...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Murrieta-Plaza-Retail-Bldg-Changes-Hands-for-$25M/144000?ref=/News/Article/Murrieta-Plaza-Retail-Bldg-Changes-Hands-for-$25M/144000&src=rss

Intellicenter Riverside Bldg Sells $17.4M

KDC Real Estate Development & Investments sold the Intellicenter Riverside office building at 14350 Meridian Pkwy in Riverside, CA to the Regents of the University of California for $17.4 million, or $116 per square foot. The buyer will take occupancy of the property, which was vacant at time of sale, with the possibility of leasing out a portion of the space. Built in 2008, the three-story office building consists of 150,000 square feet and...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Intellicenter-Riverside-Bldg-Sells-$174M/143999?ref=/News/Article/Intellicenter-Riverside-Bldg-Sells-$174M/143999&src=rss

Shadow Ranch Lot Sells for $4.7M

Wal-Mart Realty Co. purchased the commercial land located at the northeast corner of Monroe St. and the I-10 in Indio, CA for $4,736,000, or about $74,000 per acre, from Wells Fargo Bank NA. The land, currently zoned for mixed-use development, will be home to a new Wal-Mart store. Groundbreaking is scheduled for January 2013. Curtis Barlow of Coldwell Banker Commercial Lyle & Associates and Thomas Olson with Douglas Wilson Companies represented...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Shadow-Ranch-Lot-Sells-for-$47M/143954?ref=/News/Article/Shadow-Ranch-Lot-Sells-for-$47M/143954&src=rss

Rancho Cucamonga Industrial Nets $4.3M

ABM Property Investments LLC purchased the industrial building located at 9550 Hermosa Ave. in Rancho Cucamonga, CA for $4.29 million, or about $69 per square foot, from Toth Enterprises GP. The buyer will be occupying the property doing business as ABM Office Solutions, a remanufactured office furniture provider. Built in 1975 and with renovations in 1996, the property totals 61,739 square feet on 6.2 acres located at the southwest corner...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Rancho-Cucamonga-Industrial-Nets-$43M/143951?ref=/News/Article/Rancho-Cucamonga-Industrial-Nets-$43M/143951&src=rss

Sun West Retail Plaza Sells for $2.9M

Cal Top Realty & Investments purchased the retail investment property at 228 W. Hospitality Ln. in San Bernardino, CA for $2,875,000, or about $135 per square foot, from MG Hospitality Associates LP. The sale was the buyer's upleg in a 1031 exchange. Built in 1989, Sun West Retail Plaza totals 21,269 square feet on 2.2 acres located at the northwest corner of W. Hospitality Ln. and Hunts Ln. in the East San Bernardino County submarket. The shopping...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Sun-West-Retail-Plaza-Sells-for-$29M/143737?ref=/News/Article/Sun-West-Retail-Plaza-Sells-for-$29M/143737&src=rss

December 2012 CCRSI Pricing Analysis Now Available

CoStar Group released the latest findings of the CoStar Commercial Repeat-Sale Indices (CCRSI), providing the market's first look at commercial real estate pricing trends based on property sales that closed through October 2012, and offering the broadest measure of commercial real estate repeat sales activity. CoStar developed the CCRSI to provide a comprehensive set of benchmarks that investors and other market participants can use to better...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/December-2012-CCRSI-Pricing-Analysis-Now-Available/144013?ref=/News/Article/December-2012-CCRSI-Pricing-Analysis-Now-Available/144013&src=rss

CoStar's People of Note (Dec. 9-15)

This week's People of Note includes the following markets: Boston, Chicago, Los Angeles, New York City, Northern New Jersey, South Bay and Washington, DC. WASHINGTON, DC Cassidy Turley Retains Investment Sales 'Dream Team' By Tim Trainor Cassidy Turley retained the services of one of the most successful and respected investment sales teams in the country, fending off the reported overtures of at least one major competitor.



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/CoStars-People-of-Note-Dec-9-15/144010?ref=/News/Article/CoStars-People-of-Note-Dec-9-15/144010&src=rss

Fontana Industrial Bldg Trades for $7.8M

Molto Capital LLC purchased the industrial facility at 13505 Marlay Ave. in Fontana, CA for $7.825 million, or about $70 per square foot, from CH Hu Corporation. The seller, doing business as Organize It All, Inc., a housewares products importer, will lease back the facility for two years. Built in 2005, the property totals 111,419 square feet on 5.5 acres located at the northwest of Marlay Ave. and Mulberry Ave., south of Jurupa Ave. with close...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Fontana-Industrial-Bldg-Trades-for-$78M/143767?ref=/News/Article/Fontana-Industrial-Bldg-Trades-for-$78M/143767&src=rss

Thursday, December 20, 2012

Apts. Developed for Gen Y Renters

GLENDALE, CA-AMF Development LLC tops out on Elevé Lofts & Skydeck, a mixed-use complex here geared toward the young urban demographic.






via Los Angeles http://www.globest.com/news/12_505/losangeles/development/Apts-Developed-for-Gen-Y-Renters-327821.html

Wednesday, December 19, 2012

Chino Industrial Trades for $3.1M

Armon Investments LLC purchased the industrial building at 13951 Monte Vista Ave. in Chino, CA for $3.1 million, or about $35 per square foot, from Sundance Spas, Inc. The private partnership plans on completing a multi-million dollar renovation on the high-vacancy property and making it available for lease or sale in the near term. Built in 1973, the former spa manufacturing site totals 87,500 square feet on five acres located at the northeast...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Chino-Industrial-Trades-for-$31M/144019?ref=/News/Article/Chino-Industrial-Trades-for-$31M/144019&src=rss

Strong Second Half Awaits Industrial Sector

LOS ANGELES-GlobeSt.com learns exclusively that strong absorption and large warehouses mean the industrial sector has a bright future, according to a recent Jones Lang LaSalle West Coast industrial brokerage meeting.






via Los Angeles http://www.globest.com/news/12_504/losangeles/industrial/Strong-Second-Half-Awaits-Industrial-Sector-327765.html

Tuesday, December 18, 2012

Murrieta Plaza Retail Bldg Changes Hands for $2.5M

Erudite Capital LLC purchased the 40,000-square-foot retail building at 40508 Murrieta Hot Springs Rd. in Murrieta, CA for $2.5 million, or about $63 per square foot. The buyer will be renting out the space, formerly occupied by SK Furniture. Built in 2006, the property sits on 3.7 acres as part of the Murrieta Plaza shopping center located at the southeast corner of Murrieta Hot Springs Road and the I-215. Mike Hanna, Michael Strode and Charley...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Murrieta-Plaza-Retail-Bldg-Changes-Hands-for-$25M/144000?ref=/News/Article/Murrieta-Plaza-Retail-Bldg-Changes-Hands-for-$25M/144000&src=rss

Intellicenter Riverside Bldg Sells $17.4M

KDC Real Estate Development & Investments sold the Intellicenter Riverside office building at 14350 Meridian Pkwy in Riverside, CA to the Regents of the University of California for $17.4 million, or $116 per square foot. The buyer will take occupancy of the property, which was vacant at time of sale, with the possibility of leasing out a portion of the space. Built in 2008, the three-story office building consists of 150,000 square feet and...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Intellicenter-Riverside-Bldg-Sells-$174M/143999?ref=/News/Article/Intellicenter-Riverside-Bldg-Sells-$174M/143999&src=rss

Kilroy Ditches Industrial Portfolio for $355M

LOS ANGELES-Institutional buyers purchased the portfolio and two small office projects, which total approximately 3.7 million square feet.






via Los Angeles http://www.globest.com/news/12_503/losangeles/acquisitions_dispositions/Kilroy-Ditches-Industrial-Portfolio-for-355M-327764.html

BH Returns to Aggressive Buying Mode

LOS ANGELES-GlobeSt.com exclusively learns that the 15-year-old firm is bullish on acquisitions and plans to buy even more in 2013.






via Los Angeles http://www.globest.com/news/12_503/losangeles/acquisitions_dispositions/BH-Returns-to-Aggressive-Buying-Mode-327715.html

Monday, December 17, 2012

December 2012 CCRSI Pricing Analysis Now Available

CoStar Group released the latest findings of the CoStar Commercial Repeat-Sale Indices (CCRSI), providing the market's first look at commercial real estate pricing trends based on property sales that closed through October 2012, and offering the broadest measure of commercial real estate repeat sales activity. CoStar developed the CCRSI to provide a comprehensive set of benchmarks that investors and other market participants can use to better...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/December-2012-CCRSI-Pricing-Analysis-Now-Available/144013?ref=/News/Article/December-2012-CCRSI-Pricing-Analysis-Now-Available/144013&src=rss

Shadow Ranch Lot Sells for $4.7M

Wal-Mart Realty Co. purchased the commercial land located at the northeast corner of Monroe St. and the I-10 in Indio, CA for $4,736,000, or about $74,000 per acre, from Wells Fargo Bank NA. The land, currently zoned for mixed-use development, will be home to a new Wal-Mart store. Groundbreaking is scheduled for January 2013. Curtis Barlow of Coldwell Banker Commercial Lyle & Associates and Thomas Olson with Douglas Wilson Companies represented...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Shadow-Ranch-Lot-Sells-for-$47M/143954?ref=/News/Article/Shadow-Ranch-Lot-Sells-for-$47M/143954&src=rss

Rancho Cucamonga Industrial Nets $4.3M

ABM Property Investments LLC purchased the industrial building located at 9550 Hermosa Ave. in Rancho Cucamonga, CA for $4.29 million, or about $69 per square foot, from Toth Enterprises GP. The buyer will be occupying the property doing business as ABM Office Solutions, a remanufactured office furniture provider. Built in 1975 and with renovations in 1996, the property totals 61,739 square feet on 6.2 acres located at the southwest corner...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Rancho-Cucamonga-Industrial-Nets-$43M/143951?ref=/News/Article/Rancho-Cucamonga-Industrial-Nets-$43M/143951&src=rss

Ground Lease Sells to California Buyer

ALLEN, TX-An acre containing a 4,000-square-foot Wells Fargo bank building is sold.






via Los Angeles http://www.globest.com/news/12_502/dallas/acquisitions_dispositions/Ground-Lease-Sells-to-California-Buyer-327709.html

Aragon Buys Multi-State $100M Apartment Portfolio

BEVERLY HILLS, CA-Aragon Holdings expands into two new markets with the acquisition of three properties in Atlanta and Denver, and deploys approximately half of the $52 million it raised in its recently-closed private equity fund.






via Los Angeles http://www.globest.com/news/12_502/losangeles/multifamily/Aragon-Buys-Multi-State-100M-Apartment-Portfolio-327705.html

Developer Breaks Ground on Culver City Office Campus

CULVER CITY, CA-Hackman Capital Partners LLC has recently broken ground on WorkScapes at the Hayden Tract, a creative office campus in Culver City.






via Los Angeles http://www.globest.com/news/12_502/losangeles/office/Developer-Breaks-Ground-on-Culver-City-Office-Campus-327701.html

Office Sale, Lease on Wilshire

LOS ANGELES-GlobeSt.com learns exclusively that Charles Dunn Co. has completed a $15.5-million office sale in addition to a 19,042-square-foot lease on Wilshire Blvd.






via Los Angeles http://www.globest.com/news/12_502/losangeles/office/Office-Sale-Lease-on-Wilshire-327686.html

Champion Partners, Plans To Triple Acquisition Volume

LOS ANGELES-The firm adds Alex Saunders to serve as a partner of Champion-Saunders Multi-Family Investments, a multifamily platform that will target value-add through the Western US.






via Los Angeles http://www.globest.com/news/12_502/losangeles/multifamily/Champion-Partners-Plans-To-Triple-Acquisition-Volume-327683.html

Allen Matkins Gathers 700 Industry Pros

LOS ANGELES-The party is billed as the annual networking event of the season as commercial real estate executives from all facets of the industry attend.






via Los Angeles http://www.globest.com/news/12_502/losangeles/other/Allen-Matkins-Gathers-700-Industry-Pros-327688.html

Friday, December 14, 2012

Sun West Retail Plaza Sells for $2.9M

Cal Top Realty & Investments purchased the retail investment property at 228 W. Hospitality Ln. in San Bernardino, CA for $2,875,000, or about $135 per square foot, from MG Hospitality Associates LP. The sale was the buyer's upleg in a 1031 exchange. Built in 1989, Sun West Retail Plaza totals 21,269 square feet on 2.2 acres located at the northwest corner of W. Hospitality Ln. and Hunts Ln. in the East San Bernardino County submarket. The shopping...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Sun-West-Retail-Plaza-Sells-for-$29M/143737?ref=/News/Article/Sun-West-Retail-Plaza-Sells-for-$29M/143737&src=rss

CoStar's People of Note (Dec. 9-15)

This week's People of Note includes the following markets: Boston, Chicago, Los Angeles, New York City, Northern New Jersey and Washington, DC. WASHINGTON, DC Cassidy Turley Retains Investment Sales 'Dream Team' By Tim Trainor Cassidy Turley retained the services of one of the most successful and respected investment sales teams in the country, fending off the reported overtures of at least one major competitor. This week, Cassidy Turley...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/CoStars-People-of-Note-Dec-9-15/144010?ref=/News/Article/CoStars-People-of-Note-Dec-9-15/144010&src=rss

Ratkovich to Acquire Macy's Plaza in Downtown Los Angeles

LOS ANGELES-Ratkovich Co. is poised to purchase Macy's Plaza, a mall, hotel and office complex in downtown Los Angeles.






via Los Angeles http://www.globest.com/news/12_501/losangeles/hotels/Ratkovich-to-Acquire-Macys-Plaza-in-Downtown-Los-Angeles-327663.html

Chinatrust Bank Set to Relocate HQ to 801 Tower

LOS ANGELES-Taiwan-based Chinatrust Bank is moving its headquarters from Torrance to 801 Tower in Los Angeles.






via Los Angeles http://www.globest.com/news/12_501/losangeles/office/Chinatrust-Bank-Set-to-Relocate-HQ-to-801-Tower-327658.html

CBRE Global Investors Closes $1B Fund

LOS ANGELES-The value-added fund has equity commitments from nearly 22 institutional investors in the US and Europe and has exceeded its target.






via Los Angeles http://www.globest.com/news/12_501/losangeles/finance/CBRE-Global-Investors-Closes-1B-Fund-327595.html

Thursday, December 13, 2012

DTZ Rallies Forces for Americas Strategy

LOS ANGELES-Now officially established as a US-based provider, the firm is ready to roll out its push to increase its global footprint, with Canada, the US and Latin America in its sites.






via Los Angeles http://www.globest.com/news/12_500/losangeles/office/DTZ-Rallies-Forces-for-Americas-Strategy-327598.html

Loews, MetLife Form JV to Own Hotel

LOS ANGELES-The venture involving 632-room Hollywood Hotel augments the firm's partnership with MetLife, which also owns Loews Atlanta Hotel.






via Los Angeles http://www.globest.com/news/12_500/losangeles/hotel/Loews-MetLife-Form-JV-to-Own-Hotel-327585.html

Wednesday, December 12, 2012

Gov. of Singapore’s $1.5 Billion Bid for Four U.S. Resorts Holds Up in Bankruptcy Court

Following a cancellation of a bankruptcy-scheduled auction last week, the Government of Singapore Investment Corp., known as GIC, appears headed to be the new owner of four luxury hotel resorts. GIC was deemed the successful bidder with a $1.5 billion offer to acquire the resorts from MSR Resort Golf, which has been operating under Chapter 11 bankruptcy protection since February 2011. An auction had been scheduled to determine whether another buyer...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Gov-of-Singapores-$15-Billion-Bid-for-Four-US-Resorts-Holds-Up-in-Bankruptcy-Court/143940?ref=/News/Article/Gov-of-Singapores-$15-Billion-Bid-for-Four-US-Resorts-Holds-Up-in-Bankruptcy-Court/143940&src=rss

Fontana Industrial Bldg Trades for $7.8M

Molto Capital LLC purchased the industrial facility at 13505 Marlay Ave. in Fontana, CA for $7.825 million, or about $70 per square foot, from CH Hu Corporation. The seller, doing business as Organize It All, Inc., a housewares products importer, will lease back the facility for two years. Built in 2005, the property totals 111,419 square feet on 5.5 acres located at the northwest of Marlay Ave. and Mulberry Ave., south of Jurupa Ave. with close...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Fontana-Industrial-Bldg-Trades-for-$78M/143767?ref=/News/Article/Fontana-Industrial-Bldg-Trades-for-$78M/143767&src=rss

Gunn Returns to Direct Urban Partners

LOS ANGELES-GlobeSt.com learns exclusively that the real estate veteran will be responsible for planning and developing complex mixed-use, public/private and transit-oriented developments in urban locations throughout California.






via Los Angeles http://www.globest.com/news/12_499/losangeles/development/Gunn-Returns-to-Direct-Urban-Partners-327549.html

Office and Industrial Recovery Expands

LOS ANGELES-More parts of Los Angeles and Orange counties and the Inland Empire are experiencing growth and recovery in these sectors, according to a USC Casden report.






via Los Angeles http://www.globest.com/news/12_499/losangeles/office/Office-and-Industrial-Recovery-Expands-327550.html

Tuesday, December 11, 2012

Hendrickson Joins Studley as Exec. Managing Director

LOS ANGELES-The former platform leader for CBRE's global corporate services business will lead Studley's strategic portfolio solutions group in L.A.






via Los Angeles http://www.globest.com/news/12_498/losangeles/office/Hendrickson-Joins-Studley-as-Exec-Managing-Director-327553.html

Simon Property To Transform 2.3M-SF Fashion Center

TORRANCE, CA-The redevelopment, which will begin in the Spring, will add Nordstrom to the tenant mix, and will start by replacing the existing food court, and renovating the interior of a portion of the north mall.






via Los Angeles http://www.globest.com/news/12_498/losangeles/retail/Simon-Property-To-Transform-23M-SF-Fashion-Center-327548.html

Accelerate Sales, Consider 1031 Exchanges Before 2013

LOS ANGELES-Closing deals and setting up 1031 deferred exchanges are smart moves to avoid paying inevitable increased capital-gains taxes, says one commercial real estate attorney.






via Los Angeles http://www.globest.com/news/12_498/losangeles/accounting/Accelerate-Sales-Consider-1031-Exchanges-Before-2013-327528.html

Monday, December 10, 2012

GSP Arranges Financing for 3rd St. Promenade Asset

LOS ANGELES-GlobeSt.com learns exclusively that the 7,500-square-foot property currently houses the first West Coast Converse retail store.






via Los Angeles http://www.globest.com/news/12_497/losangeles/finance/-327509.html

Partnership Develops Affordable Housing at YMCA

LOS ANGELES-The $21-million, 49-unit community will serve low-income adults and youths transitioning from homelessness to independent living, including those living with mental illness.






via Los Angeles http://www.globest.com/news/12_497/losangeles/multifamily/-327510.html

Saturday, December 8, 2012

CoStar's People of Note (Dec. 2-8)

This week's People of Note includes the following markets: Denver, Hampton Roads, National, Milwaukee/Madison and Richmond. DENVER Avison Young Opens Office in Denver By CoStar Research Toronto-based Avison Young continued its U.S. expansion with the opening of an office in Denver, CO, its 21st market outside of Canada. The new AY office will be staffed by former members of two Denver-based firms: iCG Denver LLC, known as iCORE Global, and...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-vi.costar.com/News/Article/CoStars-People-of-Note-Dec-2-8/143826?ref=/News/Article/CoStars-People-of-Note-Dec-2-8/143826&src=rss

Grandbridge Expanding CRE Lending Biz Into So. Cal Markets

Grandbridge Real Estate Capital, a wholly-owned subsidiary of North Carolina-based bank BB&T Corp., wrapped up its acquisition of Dwyer-Curlett & Co. to expand its commercial real estate finance business into southern California. Grandbridge Senior Vice Presidents Shelley Magoffin and Thomas Kenny will serve as regional managers for the Los Angeles, Orange County and San Diego offices, which have a combined total of 20 loan originators as well...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-vi.costar.com/News/Article/Grandbridge-Expanding-CRE-Lending-Biz-Into-So-Cal-Markets/143685?ref=/News/Article/Grandbridge-Expanding-CRE-Lending-Biz-Into-So-Cal-Markets/143685&src=rss

NorthMarq Arranges $10M Financing

Strata Equity Group, Inc. secured a $10,312,000 mortgage for the acquisition of the High Desert Villas, a senior-living community complex at 16850 Jasmine St. in Victorville, CA. Daniel McCarthy of NorthMarq's Los Angeles office arranged the financing through Freddie Mac. The loan was based on a 10-year term and a 30-year amortization schedule after a two-year, interest-only period. Built in 1990, the multifamily property totals 123,267 square...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-vi.costar.com/News/Article/NorthMarq-Arranges-$10M-Financing/143590?ref=/News/Article/NorthMarq-Arranges-$10M-Financing/143590&src=rss

High Desert Villas Nets $14M

Strata Equity Group, Inc. purchased High Desert Villas, a senior-living multifamily complex at 16850 Jasmine St. in Victorville, CA from CDC Realty Fund for $13.75 million, or about $59,000 per unit. Built in 1990, the apartments total 123,267 square feet on 9.7 acres located at the northwest corner of Jasmine St. and 1st Ave., just west of Hesperia Road. High Desert Villas consists of 196 one-bed, one-bath and 36 two-bed, one-bath units. Alex...



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TA Associates Realty Sells Perris Industrial for $2M

Acumen Electronics purchased the industrial building at 460 Harley Knox Blvd. in Perris, CA for $2,016,855, or about $53 per square foot, from TA Associates Realty. The Corona-based buyer is a manufacturer and supplier of transformers, doing business as Triad Magnetics, Inc. Built in 2007, the property totals 38,018 square feet on 1.9 acres. It is part of the three-building Oleander Industrial Park located at the northeast corner of Harley Knox...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-vi.costar.com/News/Article/TA-Associates-Realty-Sells-Perris-Industrial-for-$2M/143051?ref=/News/Article/TA-Associates-Realty-Sells-Perris-Industrial-for-$2M/143051&src=rss

CoStar's People of Note (Nov. 18-Dec. 1)

This week's People of Note includes the following markets: Atlanta, Chicago, Dallas, National, New York City and Philadelphia. NATIONAL Jones Lang LaSalle Names Martin CEO for Americas By Tim Trainor Peter Roberts, Jones Lang LaSalle's chief executive officer for the Americas, will assume a new role as chief strategy officer. He will be succeeded by the firm's current chief operating and financial officer, Lauralee Martin (pictu



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Friday, December 7, 2012

CoStar's People of Note (Dec. 2-8)

This week's People of Note includes the following markets: Denver Hampton Roads, National, Milwaukee/Madison and Richmond. DENVER Avison Young Opens Office in Denver By CoStar Research Toronto-based Avison Young continued its U.S. expansion with the opening of an office in Denver, CO, its 21st market outside of Canada. The new AY office will be staffed by former members of two Denver-based firms: iCG Denver LLC, known as iCORE Global, and...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/CoStars-People-of-Note-Dec-2-8/143826?ref=/News/Article/CoStars-People-of-Note-Dec-2-8/143826&src=rss

Union Station Master Plan Process Goes Public

LOS ANGELES-Metro holds a public meeting to discuss the planning process and receive stakeholder feedback on the plan's broader visions and goals.






via Los Angeles http://www.globest.com/news/12_496/losangeles/infrastructure/-327468.html

LAX Terminal to Launch 60 Retail Shops

LOS ANGELES-Westfield and its tenant partners are investing $80 million to develop the new dining and retail program at the New Tom Bradley International Terminal.






via Los Angeles http://www.globest.com/news/12_496/losangeles/retail/-327466.html

Thursday, December 6, 2012

Grandbridge Expanding CRE Lending Biz Into So. Cal Markets

Grandbridge Real Estate Capital, a wholly-owned subsidiary of North Carolina-based bank BB&T Corp., wrapped up its acquisition of Dwyer-Curlett & Co. to expand its commercial real estate finance business into southern California. Grandbridge Senior Vice Presidents Shelley Magoffin and Thomas Kenny will serve as regional managers for the Los Angeles, Orange County and San Diego offices, which have a combined total of 20 loan originators as well...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Grandbridge-Expanding-CRE-Lending-Biz-Into-So-Cal-Markets/143685?ref=/News/Article/Grandbridge-Expanding-CRE-Lending-Biz-Into-So-Cal-Markets/143685&src=rss

Appeal Keeps Building for Still Unproven Investment In Rental Housing Market - CoStar Group



Appeal Keeps Building for Still Unproven Investment In Rental Housing Market

Whether Fad or Fundamental, Major Firms such as Blackstone, Colony Financial Continue to Embrace Single-Family Rental Market
December 5, 2012

Blackstone formally launched its Invitation Homes last month as its national single-family rental platform. 

“The single-family rental market has always existed with 12 million homes for rent but there never has been a national, institutionally-managed, single-family rental platform,” Blackstone said in announcing the launch. “In addition, household formation and population growth in the U.S. are solid but new housing supply is 63% below the historical average, creating a compelling opportunity to invest.” 

This week, Colony Financial commenced a secondary stock offering to raise up to $195 million. Colony said that intends to use $150 million of the money raised to to make an additional investment in CSFR Operating Partnership LP, its investment vehicle created for the purpose of investing in single-family rental homes. 

Also, this past week, Two Harbors Investment Corp. entered into an agreement with Silver Bay Realty Trust Corp. as part of Silver Bay's plan to acquire a portfolio of more than 3,100 single-family residential properties simultaneously with the closing of its initial public offering. 

And North Carolina-based U.S. Residential Asset Fund launched its unique program in the REO-to-rental market promoting its rent-to-own program. 

The market opportunity has also attracted a number of international investors, including Sydney, Australia-based U.S. Masters Residential Property Fund, which is seeking to raise up to $80 million in additional funding to continue its aggressive purchase of New York metro area homes. 

Examples of the recent entry of significant private equity players focused on bulk purchases of foreclosed homes in 2012 include: 

- Blackstone: 6,500 homes in AZ, SoCal; 
- Waypoint: 2,400 homes in CA, AZ; 
- Colony Financial: 3,600 homes in CA, AZ, NV, TX, GA, CO; and 
- KKR: 200 homes in AZ, NV. 

Appeal Keeps Building for Still Unproven Investment In Rental Housing Market - CoStar Group

400,000-SF Galleria Tower Goes to KBS

HOUSTON-The California investor snags 1800 West Loop South, which hit the market in September, offering good upside potential.






via Los Angeles http://www.globest.com/news/12_495/houston/office/400000-SF-Galleria-Tower-Goes-to-KBS-327460.html

Decline In Availability of US Industrial Space To Continue

LOS ANGELES-Modest economic growth and increased global trade through the US will help sustain demand improvements for warehouse and distribution space, CBRE Group Inc. tells GlobeSt.com.






via Los Angeles http://www.globest.com/news/12_495/losangeles/industrial/Decline-In-Availability-of-US-Industrial-Space-To-Continue-327442.html

Wednesday, December 5, 2012

UCLA Forecast Shows Growth, Housing Leads Way

LOS ANGELES-For California, UCLA Anderson Forecast senior economist Jerry Nickelsburg, says Proposition 30 creates some risk, but the State's outlook still shows a growth rate that exceeds the nation's rate.






via Los Angeles http://www.globest.com/news/12_494/losangeles/multifamily/UCLA-Forecast-Shows-Growth-Housing-Leads-Way-327441.html

Vestar Promotes, Looks to Acquire $750M in Retail

LOS ANGELES-The firm promotes Jeff Axtell to VP of acquisitions and development and says the firm is looking at acquiring value-added open air shopping centers on the West Coast over the next couple years.






via Los Angeles http://www.globest.com/news/12_494/losangeles/retail/Vestar-Promotes-Looks-to-Acquire-750M-in-Retail-327392.html

Tuesday, December 4, 2012

Bernards Restores, Rebuilds Iconic Hotel

SANTA BARBARA, CA-The commercial builder is implementing the $46-million project on El Encanto, a five-star Santa Barbara resort hotel, owned and operated by Orient-Express Hotels Ltd.






via Los Angeles http://www.globest.com/news/12_493/losangeles/hotel/Bernards-Restores-Rebuilds-Iconic-Hotel-327339.html

Monday, December 3, 2012

Grandbridge Expanding CRE Lending Biz Into So. Cal Markets

Grandbridge Real Estate Capital, a wholly-owned subsidiary of North Carolina-based bank BB&T Corp., wrapped up its acquisition of Dwyer-Curlett & Co. to expand its commercial real estate finance business into southern California. Grandbridge Senior Vice Presidents Shelley Magoffin and Thomas Kenny will serve as regional managers for the Los Angeles, Orange County and San Diego offices, which have a combined total of 20 loan originators as well...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Grandbridge-Expanding-CRE-Lending-Biz-Into-So-Cal-Markets/143685?ref=/News/Article/Grandbridge-Expanding-CRE-Lending-Biz-Into-So-Cal-Markets/143685&src=rss

Sulentic Named CBRE CEO

LOS ANGELES-It's official. Sulentic has assumed the title of CEO, taking over for Brett White, who retired last month.






via Los Angeles http://www.globest.com/news/12_492/losangeles/office/Sulentic-Named-CBRE-CEO-327334.html

Sulentic Named CBRE President and CEO

LOS ANGELES-Sulentic will take over for Brett White, who retired last month.






via Los Angeles http://www.globest.com/news/12_492/losangeles/office/Sulentic-Named-CBRE-President-and-CEO-327334.html

Saturday, December 1, 2012

CoStar's People of Note (Nov. 18-Dec. 1)

This week's People of Note includes the following markets: Atlanta, Chicago, Dallas, National, New York City and Philadelphia. NATIONAL Jones Lang LaSalle Names Martin CEO for Americas By Tim Trainor Peter Roberts, Jones Lang LaSalle's chief executive officer for the Americas, will assume a new role as chief strategy officer. He will be succeeded by the firm's current chief operating and financial officer, Lauralee Martin (pictu



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/CoStars-People-of-Note-Nov-18-Dec-1/143649?ref=/News/Article/CoStars-People-of-Note-Nov-18-Dec-1/143649&src=rss

NorthMarq Arranges $10M Financing

Strata Equity Group, Inc. secured a $10,312,000 mortgage for the acquisition of the High Desert Villas, a senior-living community complex at 16850 Jasmine St. in Victorville, CA. Daniel McCarthy of NorthMarq's Los Angeles office arranged the financing through Freddie Mac. The loan was based on a 10-year term and a 30-year amortization schedule after a two-year, interest-only period. Built in 1990, the multifamily property totals 123,267 square...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/NorthMarq-Arranges-$10M-Financing/143590?ref=/News/Article/NorthMarq-Arranges-$10M-Financing/143590&src=rss

Watch List: Delinquent Sears, Kmart, JCPenney Retail Properties

In this week’s Watch List, CoStar examined CMBS loans for properties in which two of the largest three tenants were either a Sears, Kmart or JCPenney anchor. All three retailers have Fitch Ratings of either B or CCC with negative outlooks. We identified 91 CMBS loans securitized before 2010 that were backed by such properties. The loans are delinquent or were not paid off at maturity on 22 of the 91 properties backing the loans, or 24%. Share...



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Aldo Cuts Deal for 47 Bakers Footwear Stores

A buyer has emerged for several of the leasehold interests in Bakers Footwear Group Inc., which is going through a formal Chapter 11 reorganization process following a string of quarterly losses and recent lower than planned sales. Share this story with your followers Tweet The St. Louis, MO-based company operates 215 stores nationwide and employs 459 full-time employees and 3,463 part-time employees. Bakers Footwear incurred net losses...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Aldo-Cuts-Deal-for-47-Bakers-Footwear-Stores/143616?ref=/News/Article/Aldo-Cuts-Deal-for-47-Bakers-Footwear-Stores/143616&src=rss

High Desert Villas Nets $14M

Strata Equity Group, Inc. purchased High Desert Villas, a senior-living multifamily complex at 16850 Jasmine St. in Victorville, CA from CDC Realty Fund for $13.75 million, or about $59,000 per unit. Built in 1990, the apartments total 123,267 square feet on 9.7 acres located at the northwest corner of Jasmine St. and 1st Ave., just west of Hesperia Road. High Desert Villas consists of 196 one-bed, one-bath and 36 two-bed, one-bath units. Alex...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/High-Desert-Villas-Nets-$14M/143588?ref=/News/Article/High-Desert-Villas-Nets-$14M/143588&src=rss

TA Associates Realty Sells Perris Industrial for $2M

Acumen Electronics purchased the industrial building at 460 Harley Knox Blvd. in Perris, CA for $2,016,855, or about $53 per square foot, from TA Associates Realty. The Corona-based buyer is a manufacturer and supplier of transformers, doing business as Triad Magnetics, Inc. Built in 2007, the property totals 38,018 square feet on 1.9 acres. It is part of the three-building Oleander Industrial Park located at the northeast corner of Harley Knox...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/TA-Associates-Realty-Sells-Perris-Industrial-for-$2M/143051?ref=/News/Article/TA-Associates-Realty-Sells-Perris-Industrial-for-$2M/143051&src=rss