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Tuesday, April 30, 2013

Press-Enterprise to Sell Building to County for $30M

RIVERSIDE, CA—With a staff that's half of the 700 the building was mean to hold, paper's parent company plans to lease office space.






via Los Angeles http://www.globest.com/news/12_594/losangeles/office/Press-Enterprise-to-Sell-Building-to-County-for-30M-332775.html

Sorgente Group Buys Clock Tower

SANTA MONICA, CA-The iconic Clock Tower was purchased by Sorgente Group of America. The new owner aims to preserve the historic property.






via Los Angeles http://www.globest.com/news/12_594/losangeles/acquisitions_dispositions/Sorgente-Group-Buys-Clock-Tower-332769.html

Software Helps Find Energy Leaks

LOS ANGELES-An affordable housing and property management company has been using WegoWise software to target its maintenance priorities.






via Los Angeles http://www.globest.com/news/12_594/losangeles/technology/Software-Helps-Find-Energy-Leaks-332765.html

Single-Family Investments Help Remodeling

SANTA MONICA, CA-A report by IBISWorld says institutional investment in single family homes has boosted the remodeling industry.






via Los Angeles http://www.globest.com/news/12_594/losangeles/corporate_real_estate/Investor-Single-Family-Surge-Boosts-Downsteam-332740.html

Monday, April 29, 2013

The Courtyard Sells for $3.2M

The Gregory Evan Security Trust purchased The Courtyard at 27349 Jefferson Ave. in Temecula, CA for approximately $3.19 million, or about $90 per square foot. Built in 1989, the two-story office building totals 35,260 square feet on 2.4 acres in Riverside County. Tenants at the property include professional office, medical and dental practices. Jim Nadal of Lee & Associates represented the seller, Frank G. Schaefer Investments. Please reference...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/The-Courtyard-Sells-for-$32M/147103?ref=/News/Article/The-Courtyard-Sells-for-$32M/147103&src=rss

Behringer Harvard, CT Realty Sell Interchange Business Center

A joint venture between Behringer Harvard and CT Realty Investors has sold the Interchange Business Center, located at 1651 Interchange Dr. and 3372-3524 N. Mike Daley Dr. in San Bernardino, CA, to a privately-held national real estate advisor. The three-building complex comprises 667,024 square feet of class A industrial space on 34 acres in the Inland Empire, east of Los Angeles. They were all built in 2008 and feature multiple loading docks...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Behringer-Harvard-CT-Realty-Sell-Interchange-Business-Center/148086?ref=/News/Article/Behringer-Harvard-CT-Realty-Sell-Interchange-Business-Center/148086&src=rss

Loma Linda Plaza Apts Sell for $2.5M

Dorcas Wang sold the 25-Unit Loma Linda Plaza Apartments at 25675 Prospect Ave. in Loma Linda, CA to Xiaoyi Luo for $2.52 million, or approximately $101,000 per unit. The 19,396-square-foot multifamily building consists of 21 two-bedroom and 4 one-bedroom units in one building. The property was built in 1972 in the East San Bernardino County submarket, and was 100 percent occupied at time of sale. David Lin of Kotai Realty represented the seller...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Loma-Linda-Plaza-Apts-Sell-for-$25M/147577?ref=/News/Article/Loma-Linda-Plaza-Apts-Sell-for-$25M/147577&src=rss

Circle Center Sells for $2M

Circle Center LLC purchased the Circle Center at 9666-9686 Central Ave. in Montclair, CA for $2,017,824, or about $106 per square foot, from Weiss Properties, Inc. The 19,000-square-foot shopping center was 88 percent leased at the time of sale. The property sits on 1.6 acres in the West San Bernardino County submarket of the Inland Empire. This was a reverse-1031 Exchange for the seller. Marcus & Millichap represented both sides of the sale...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Circle-Center-Sells-for-$2M/147074?ref=/News/Article/Circle-Center-Sells-for-$2M/147074&src=rss

Behringer Harvard, CT Realty Sell Interchange Business Center

A joint venture between Behringer Harvard and CT Realty Investors has sold the Interchange Business Center, located at 1651 Interchange Dr. and 3372-3524 N. Mike Daley Dr. in San Bernardino, CA, to a privately-held national real estate advisor. The three-building complex comprises 667,024 square feet of class A industrial space on 34 acres in the Inland Empire, east of Los Angeles. They were all built in 2008 and feature multiple loading docks...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Behringer-Harvard-CT-Realty-Sell-Interchange-Business-Center/148086?ref=/News/Article/Behringer-Harvard-CT-Realty-Sell-Interchange-Business-Center/148086&src=rss

Giorgio Armani Building Sold

BEVERLY HILLS, CA-An office/retail building fully leased to Giorgio Armani has been sold.






via Los Angeles http://www.globest.com/news/12_593/losangeles/acquisitions_dispositions/Giorgio-Armani-Building-Sold-332715.html

The Courtyard Sells for $3.2M

The Gregory Evan Security Trust purchased The Courtyard at 27349 Jefferson Ave. in Temecula, CA for approximately $3.19 million, or about $90 per square foot. Built in 1989, the two-story office building totals 35,260 square feet on 2.4 acres in Riverside County. Tenants at the property include professional office, medical and dental practices. Jim Nadal of Lee & Associates represented the seller, Frank G. Schaefer Investments. Please reference...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/The-Courtyard-Sells-for-$32M/147103?ref=/News/Article/The-Courtyard-Sells-for-$32M/147103&src=rss

Loma Linda Plaza Apts Sell for $2.5M

Dorcas Wang sold the 25-Unit Loma Linda Plaza Apartments at 25675 Prospect Ave. in Loma Linda, CA to Xiaoyi Luo for $2.52 million, or approximately $101,000 per unit. The 19,396-square-foot multifamily building consists of 21 two-bedroom and 4 one-bedroom units in one building. The property was built in 1972 in the East San Bernardino County submarket, and was 100 percent occupied at time of sale. David Lin of Kotai Realty represented the seller...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Loma-Linda-Plaza-Apts-Sell-for-$25M/147577?ref=/News/Article/Loma-Linda-Plaza-Apts-Sell-for-$25M/147577&src=rss

Circle Center Sells for $2M

Circle Center LLC purchased the Circle Center at 9666-9686 Central Ave. in Montclair, CA for $2,017,824, or about $106 per square foot, from Weiss Properties, Inc. The 19,000-square-foot shopping center was 88 percent leased at the time of sale. The property sits on 1.6 acres in the West San Bernardino County submarket of the Inland Empire. This was a reverse-1031 Exchange for the seller. Marcus & Millichap represented both sides of the sale...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Circle-Center-Sells-for-$2M/147074?ref=/News/Article/Circle-Center-Sells-for-$2M/147074&src=rss

CBRE Arranges 72,000SF Industrial Lease in Norwalk

NORWALK, CA—Ameripak Industries is the tenant for long term lease on Blackburn Avenue.






via Los Angeles http://www.globest.com/news/12_593/losangeles/industrial/CBRE-Arranges-72000SF-Industrial-Lease-in-Norwalk-332714.html

WeGo Wise Powers L.A. Energy Analysis

LOS ANGELES-The federal Better Buildings Challenge will offer L.A. partners free software to help with building energy use analysis.






via Los Angeles http://www.globest.com/news/12_593/losangeles/technology/WeGo-Wise-Powers-LA-Energy-Analysis-332709.html

Fifteen Group Teams With Van Daele Homes

LOS ANGELES-A joint venture between Fifteen Group and Van Daele Homes will build two townhome projects in the Silver Lake and Echo Park areas.






via Los Angeles http://www.globest.com/news/12_593/losangeles/development/Fifteen-Group-Teams-with-Van-Daele-Homes-332674.html

Sunday, April 28, 2013

CoStar's People of Note (April 21-28)

This week's People of Note includes the following markets: Houston, Inland Empire, Northern New Jersey and Washington, DC. WASHINGTON, DC Owen Returns to Full-Service Brokerage With New Position at NGKF By Laurie Forbes Newmark Grubb Knight Frank hired top leasing agent Brendan Owen as an executive vice president. He will help expand the firm’s brokerage business in Washington, DC, by managing all asset servic



via Inland Empire Commercial Real Estate News From CoStar Group http://seattle.costargroup.com/News/Article/CoStars-People-of-Note-April-21-28/148021?ref=/News/Article/CoStars-People-of-Note-April-21-28/148021&src=rss

Market Trend: Inland Empire's Industrial Vacancy Decreases to 6.6%

The Inland Empire Industrial market ended the first quarter 2013 with a vacancy rate of 6.6%. The vacancy rate was down over the previous quarter, with net absorption totaling positive 2,974,940 square feet in the first quarter. That compares to positive 5,473,229 square feet in the fourth quarter 2012. Vacant sublease space decreased in the quarter, ending the quarter at 689,384 square feet. Tenants moving into large blocks of space in...



via Inland Empire Commercial Real Estate News From CoStar Group http://seattle.costargroup.com/News/Article/Market-Trend-Inland-Empires-Industrial-Vacancy-Decreases-to-66/148004?ref=/News/Article/Market-Trend-Inland-Empires-Industrial-Vacancy-Decreases-to-66/148004&src=rss

The CoStar Watch List Newsletter for April 25 - May 1

This Week’s Top Stories 'Goofy Pricing' Driving Some Banks Away from CRE Deals "I will tell you this, there are certain loans across all categories that we would not meet the pricing that's currently being suggested by some of our competitors today. I won't say what those prices are. But I will tell you this: we will not be doing 40-year amortization loans. We will not be doing 10-year fixed at 3% and no prepayment penalties. It just doesn't make...



via Inland Empire Commercial Real Estate News From CoStar Group http://seattle.costargroup.com/News/Article/The-CoStar-Watch-List-Newsletter-for-April-25-May-1/147976?ref=/News/Article/The-CoStar-Watch-List-Newsletter-for-April-25-May-1/147976&src=rss

Temecula Retail Acquired for $2.9M

Metro Resources, Inc. sold the Madison Service Commercial Center at 27310 Madison Ave. in Temecula, CA to Pacific Floor, Co. for $2.86 million, or about $99 per square foot. The free-standing retail showroom was built in 2001 on 2.2 acres of land with frontage on both Madison Ave. and the I-15 freeway. The flooring products supplier will occupy approximately 52 percent of the 29,000-square-foot building. Gordon Mize and Rob Miller of Lee...



via Inland Empire Commercial Real Estate News From CoStar Group http://seattle.costargroup.com/News/Article/Temecula-Retail-Acquired-for-$29M/147535?ref=/News/Article/Temecula-Retail-Acquired-for-$29M/147535&src=rss

Rancho Mirage Office Sells for $1M

A private individual purchased the office building located at 72057 Hwy 111 in Rancho Mirage, CA for $1.05 million, or about $253 per square foot, from White Brothers Investment Co. The buyer plans to fix the building and use it for a medical practice. The medical office building totals 4,150 square feet on seven-tenths of an acre at the northwest corner of Hwy 111 and Desert Dr. in the Coachella Valley submarket of Riverside County. Thom Gottberg...



via Inland Empire Commercial Real Estate News From CoStar Group http://seattle.costargroup.com/News/Article/Rancho-Mirage-Office-Sells-for-$1M/147810?ref=/News/Article/Rancho-Mirage-Office-Sells-for-$1M/147810&src=rss

Voit Adds New Vice President

Voit Real Estate Services in Ontario added Janet Kramer as a new vice president with the firm's retail group. "Voit's retail group is continuing to expand throughout the regions in which we operate and we are committed to bringing on strong, driven brokers who will excel within our entrepreneurial company culture. The addition of Janet is a testament to Voit's success in recruiting and retaining top professionals in each of the markets we serve...



via Inland Empire Commercial Real Estate News From CoStar Group http://seattle.costargroup.com/News/Article/Voit-Adds-New-Vice-President/147809?ref=/News/Article/Voit-Adds-New-Vice-President/147809&src=rss

Riverton of the High Desert Trades for $19M

Ranco Realty Group LLC sold the Riverton of the High Desert apartment complex at 14374 Borego Rd. in Victorville, CA to Clear Capital LLC for $19 million, or about $86,000 per unit. Originally constructed in 2008, the 220-unit multifamily property totals 197,672 square feet, comprising 16 buildings on 11.1 acres located at the southwest corner of Borego and Seneca Roads. The subject property consists of 36 one-bed, one-bath and 184 two-bed, two...



via Inland Empire Commercial Real Estate News From CoStar Group http://seattle.costargroup.com/News/Article/Riverton-of-the-High-Desert-Trades-for-$19M/147807?ref=/News/Article/Riverton-of-the-High-Desert-Trades-for-$19M/147807&src=rss

Friday, April 26, 2013

William Warren Group Heads East

SANTA MONICA, CA-The privately-held William Warren Group, which currently operates in four western states, is expanding.






via Los Angeles http://www.globest.com/news/12_592/losangeles/corporate_real_estate/William-Warren-Group-Heads-East-332665.html

StorQuest Heads East

SANTA MONICA, CA-The privately-held StorQuest, which operates in four western states, is expanding.






via Los Angeles http://www.globest.com/news/12_592/losangeles/corporate_real_estate/StorQuest-Heads-East-332665.html

LLC Launches Program For Tenants To Shop Locally

LOS ANGELES—Rewards program, tied to lease, offers retailer discounts.






via Los Angeles http://www.globest.com/news/12_592/losangeles/other/LLC-Launches-Program-For-Tenants-To-Shop-Locally-332664.html

CoStar's People of Note (April 21-28)

This week's People of Note includes the following markets: Houston, Inland Empire, Northern New Jersey and Washington, DC. WASHINGTON, DC Owen Returns to Full-Service Brokerage With New Position at NGKF By Laurie Forbes Newmark Grubb Knight Frank hired top leasing agent Brendan Owen as an executive vice president. He will help expand the firm’s brokerage business in Washington, DC, by managing all asset servic



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/CoStars-People-of-Note-April-21-28/148021?ref=/News/Article/CoStars-People-of-Note-April-21-28/148021&src=rss

Market Trend: Inland Empire's Industrial Vacancy Decreases to 6.6%

The Inland Empire Industrial market ended the first quarter 2013 with a vacancy rate of 6.6%. The vacancy rate was down over the previous quarter, with net absorption totaling positive 2,974,940 square feet in the first quarter. That compares to positive 5,473,229 square feet in the fourth quarter 2012. Vacant sublease space decreased in the quarter, ending the quarter at 689,384 square feet. Tenants moving into large blocks of space in...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Market-Trend-Inland-Empires-Industrial-Vacancy-Decreases-to-66/148004?ref=/News/Article/Market-Trend-Inland-Empires-Industrial-Vacancy-Decreases-to-66/148004&src=rss

The CoStar Watch List Newsletter for April 25 - May 1

This Week’s Top Stories 'Goofy Pricing' Driving Some Banks Away from CRE Deals "I will tell you this, there are certain loans across all categories that we would not meet the pricing that's currently being suggested by some of our competitors today. I won't say what those prices are. But I will tell you this: we will not be doing 40-year amortization loans. We will not be doing 10-year fixed at 3% and no prepayment penalties. It just doesn't make...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/The-CoStar-Watch-List-Newsletter-for-April-25-May-1/147976?ref=/News/Article/The-CoStar-Watch-List-Newsletter-for-April-25-May-1/147976&src=rss

Pacific Design Center Gets Lease Leader

WEST HOLLYWOOD, CA-Pacific Design Center has named Jeff Lasky SVP, director of leasing.






via Los Angeles http://www.globest.com/news/12_592/losangeles/leasing/Pacific-Design-Center-Gets-Lease-Leader-332630.html

Low Interest Rates Help Fuel Confidence

CALABASAS, CA-As sequestration spending cuts ripple through the economy, high stock indexes will help consumer confidence, a retail expert exclusively tells GlobeSt.com.






via Los Angeles http://www.globest.com/news/12_592/west/retail/Low-Interest-Rates-Help-Fuel-Confidence-332605.html

A New Day for Lenders, Borrowers

ONTARIO, CA-Both sides of the lending table are bringing lessons learned during the downturn to their respective jobs. Now the question is . . . how long will it last?






via Los Angeles http://www.globest.com/news/12_592/national/finance/A-New-Day-for-Lenders-Borrowers-332607.html

Renovation In the Works for Americana at Brand Shopping Center

GLENDALE, CA—New emphasis will be placed on Brand entrance area, anchored by Nordstrom.






via Los Angeles http://www.globest.com/news/12_592/losangeles/retail/Renovation-In-the-Works-for-Americana-at-Brand-Shopping-Center-332611.html

Thursday, April 25, 2013

CoStar's People of Note (April 21-28)

This week's People of Note includes the following markets: Houston, Inland Empire, Northern New Jersey and Washington, DC. WASHINGTON, DC Owen Returns to Full-Service Brokerage With New Position at NGKF By Laurie Forbes Newmark Grubb Knight Frank hired top leasing agent Brendan Owen as an executive vice president. He will help expand the firm’s brokerage business in Washington, DC, by managing all asset servic



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/CoStars-People-of-Note-April-21-28/148021?ref=/News/Article/CoStars-People-of-Note-April-21-28/148021&src=rss

Market Trend: Inland Empire's Industrial Vacancy Decreases to 6.6%

The Inland Empire Industrial market ended the first quarter 2013 with a vacancy rate of 6.6%. The vacancy rate was down over the previous quarter, with net absorption totaling positive 2,974,940 square feet in the first quarter. That compares to positive 5,473,229 square feet in the fourth quarter 2012. Vacant sublease space decreased in the quarter, ending the quarter at 689,384 square feet. Tenants moving into large blocks of space in...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Market-Trend-Inland-Empires-Industrial-Vacancy-Decreases-to-66/148004?ref=/News/Article/Market-Trend-Inland-Empires-Industrial-Vacancy-Decreases-to-66/148004&src=rss

Rexford Industrial Buys Glendale Complex

LOS ANGELES-Rexford Industrial continues its purchasing spree, acquiring a 473,346-square-foot industrial complex.






via Los Angeles http://www.globest.com/news/12_591/losangeles/acquisitions_dispositions/Rexford-Industrial-Buys-Glendale-Complex-332602.html

IPA Arranges Sale of 120-Unit Multifamily Complex

FONTANA, CA—Cielo Vista is the only 100-plus unit property in the submarket built since 1989.






via Los Angeles http://www.globest.com/news/12_591/losangeles/multifamily/IPA-Arranges-Sale-of-120-Unit-Multifamily-Complex-332597.html

Brookfield Office and MPG Office Become One

LOS ANGELES-Locally based MPG enters into a definitive merger agreement with pursuant to which a newly formed fund controlled by Brookfield Office Properties will acquire the company.






via Los Angeles http://www.globest.com/news/12_591/losangeles/office/Brookfield-Office-and-MPG-Office-Become-One-332590.html

Cole Grabs Shopping Center Duo for $264M

ATLANTA—Cole Real Estate Investments just acquired two power centers for $264 million. One is in Canton, GA and the other was in San Jose, CA.






via Los Angeles http://www.globest.com/news/12_589/atlanta/retail/Cole-Grabs-Shopping-Center-Duo-for-264M-332467.html

The CoStar Watch List Newsletter for April 25 - May 1

This Week’s Top Stories 'Goofy Pricing' Driving Some Banks Away from CRE Deals "I will tell you this, there are certain loans across all categories that we would not meet the pricing that's currently being suggested by some of our competitors today. I won't say what those prices are. But I will tell you this: we will not be doing 40-year amortization loans. We will not be doing 10-year fixed at 3% and no prepayment penalties. It just doesn't make...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/The-CoStar-Watch-List-Newsletter-for-April-25-May-1/147976?ref=/News/Article/The-CoStar-Watch-List-Newsletter-for-April-25-May-1/147976&src=rss

New Energy Law May Jolt Owners

LOS ANGELES-A new state law taking effect soon may provide a headache to building owners and managers.






via Los Angeles http://www.globest.com/news/12_591/losangeles/legal/New-Energy-Law-May-Jolt-Owners-332568.html

Wednesday, April 24, 2013

McRoskey Rejoins CBRE Group

LOS ANGELES-Patrick McRoskey rejoins CBRE Group as managing director.






via Los Angeles http://www.globest.com/news/12_590/losangeles/employment/McRoskey-Rejoins-CBRE-332546.html

CohnReznick Leases Top Floor in Century City

LOS ANGELES—The landlord, Duesenberg Investment Company, was represented by Darren Bell of Topa Management Company.






via Los Angeles http://www.globest.com/news/12_590/losangeles/office/CohnReznick-Leases-Top-Floor-in-Century-City-332537.html

Century City Land to be Developed

LOS ANGELES-An undeveloped 70,000-square-foot lot in Century City will see ten 5,000-square-foot homes built. It’s one of the last undeveloped areas in the location.






via Los Angeles http://www.globest.com/news/12_590/losangeles/development/Century-City-Land-to-be-Developed-332504.html

Tuesday, April 23, 2013

Fontana Industrial Sells for $3.2M

Mendocino Forest Products Company LLC purchased the industrial building at 13041 Union Ave. in Fontana, CA for $3.2 million, or about $59 per square foot, from a private trust. The buyer, a manufacturer and distributor of environmentally-certified lumber products, had been leasing the premises for about two years at the time of sale. Built in 1979, the rail-served warehouse property totals 53,825 square feet on 5.6 acres located at the southeast...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Fontana-Industrial-Sells-for-$32M/144752?ref=/News/Article/Fontana-Industrial-Sells-for-$32M/144752&src=rss

Temecula Retail Acquired for $2.9M

Metro Resources, Inc. sold the Madison Service Commercial Center at 27310 Madison Ave. in Temecula, CA to Pacific Floor, Co. for $2.86 million, or about $99 per square foot. The free-standing retail showroom was built in 2001 on 2.2 acres of land with frontage on both Madison Ave. and the I-15 freeway. The flooring products supplier will occupy approximately 52 percent of the 29,000-square-foot building. Gordon Mize and Rob Miller of Lee...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Temecula-Retail-Acquired-for-$29M/147535?ref=/News/Article/Temecula-Retail-Acquired-for-$29M/147535&src=rss

Rancho Mirage Office Sells for $1M

A private individual purchased the office building located at 72057 Hwy 111 in Rancho Mirage, CA for $1.05 million, or about $253 per square foot, from White Brothers Investment Co. The buyer plans to fix the building and use it for a medical practice. The medical office building totals 4,150 square feet on seven-tenths of an acre at the northwest corner of Hwy 111 and Desert Dr. in the Coachella Valley submarket of Riverside County. Thom Gottberg...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Rancho-Mirage-Office-Sells-for-$1M/147810?ref=/News/Article/Rancho-Mirage-Office-Sells-for-$1M/147810&src=rss

Voit Adds New Vice President

Voit Real Estate Services in Ontario welcomed Janet Kramer as a new vice president with the firm's retail group. "Voit's retail group is continuing to expand throughout the regions in which we operate and we are committed to bringing on strong, driven brokers who will excel within our entrepreneurial company culture. The addition of Janet is a testament to Voit's success in recruiting and retaining top professionals in each of the markets we serve...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Voit-Adds-New-Vice-President/147809?ref=/News/Article/Voit-Adds-New-Vice-President/147809&src=rss

Riverton of the High Desert Trades for $19M

Ranco Realty Group LLC sold the Riverton of the High Desert apartment complex at 14374 Borego Rd. in Victorville, CA to Clear Capital LLC for $19 million, or about $86,000 per unit. Originally constructed in 2008, the 220-unit multifamily property totals 197,672 square feet, comprising 16 buildings on 11.1 acres located at the southwest corner of Borego and Seneca Roads. The subject property consists of 36 one-bed, one-bath and 184 two-bed, two...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Riverton-of-the-High-Desert-Trades-for-$19M/147807?ref=/News/Article/Riverton-of-the-High-Desert-Trades-for-$19M/147807&src=rss

Diamond Hills Plaza Sells for $48M

DIAMOND BAR, CA-A 139,314-square-foot grocery and drug retail center sells for $48 million. The deal shows institutional investors are warming to privately-held ethnic grocery chains, says broker.






via Los Angeles http://www.globest.com/news/12_589/losangeles/acquisitions_dispositions/Diamond-Hills-Plaza-Sell-for-48M-332492.html

Rancho Mirage Office Sells for $1M

A private individual purchased the office building located at 72057 Hwy 111 in Rancho Mirage, CA for $1.05 million, or about $253 per square foot, from White Brothers Investment Co. The buyer plans to fix the building and use it for a medical practice. The medical office building totals 4,150 square feet on seven-tenths of an acre at the northwest corner of Hwy 111 and Desert Dr. in the Coachella Valley submarket of Riverside County. Thom Gottberg...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Rancho-Mirage-Office-Sells-for-$1M/147810?ref=/News/Article/Rancho-Mirage-Office-Sells-for-$1M/147810&src=rss

Voit Adds New Vice President

Voit Real Estate Services in Ontario welcomed Janet Kramer as a new vice president with the firm's retail group. "Voit's retail group is continuing to expand throughout the regions in which we operate and we are committed to bringing on strong, driven brokers who will excel within our entrepreneurial company culture. The addition of Janet is a testament to Voit's success in recruiting and retaining top professionals in each of the markets we serve...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Voit-Adds-New-Vice-President/147809?ref=/News/Article/Voit-Adds-New-Vice-President/147809&src=rss

Riverton of the High Desert Trades for $19M

Ranco Realty Group LLC sold the Riverton of the High Desert apartment complex at 14374 Borego Rd. in Victorville, CA to Clear Capital LLC for $19 million, or about $86,000 per unit. Originally constructed in 2008, the 220-unit multifamily property totals 197,672 square feet, comprising 16 buildings on 11.1 acres located at the southwest corner of Borego and Seneca Roads. The subject property consists of 36 one-bed, one-bath and 184 two-bed, two...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Riverton-of-the-High-Desert-Trades-for-$19M/147807?ref=/News/Article/Riverton-of-the-High-Desert-Trades-for-$19M/147807&src=rss

Bernards Chosen for USC Aquatic Center

LOS ANGELES—Expansion and renovation will provide seating for up to 2,500 spectators.






via Los Angeles http://www.globest.com/news/12_589/losangeles/other/Bernards-Chosen-for-USC-Aquatic-Center-332486.html

Doug Allen Joins Titan Real Estate As Partner

LOS ANGELES—Allen comes from Holiday Retirement, Inc. where he served in a similar capacity.






via Los Angeles http://www.globest.com/news/12_589/losangeles/young_professionals/Doug-Allen-Joins-Titan-Real-Estate-As-Partner-332485.html

Temecula Retail Acquired for $2.9M

Metro Resources, Inc. sold the Madison Service Commercial Center at 27310 Madison Ave. in Temecula, CA to Pacific Floor, Co. for $2.86 million, or about $99 per square foot. The free-standing retail showroom was built in 2001 on 2.2 acres of land with frontage on both Madison Ave. and the I-15 freeway. The flooring products supplier will occupy approximately 52 percent of the 29,000-square-foot building. Gordon Mize and Rob Miller of Lee...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Temecula-Retail-Acquired-for-$29M/147535?ref=/News/Article/Temecula-Retail-Acquired-for-$29M/147535&src=rss

Developer Looks to Add Four Towers

LOS ANGELES-A $100-million, 33-story mixed-use high rise apartment tower currently under construction in the downtown area may be joined by four similar towers.






via Los Angeles http://www.globest.com/news/12_589/losangeles/development/Developer-Looks-to-Add-Three-More-Towers-332468.html

Cole Grabs Multifamily Duo for $264M

ATLANTA—Cole Real Estate Investments just acquired two power centers for $264 million. One is in Canton, GA and the other was in San Jose, CA.






via Los Angeles http://www.globest.com/news/12_589/atlanta/retail/Cole-Grabs-Multifamily-Duo-for-264M-332467.html

Monday, April 22, 2013

Hamburger Chain Picks Sabre RE as Master Broker

NEW YORK CITY-Bareburger Group LLC has selected Garden City, NY-based Sabre Real Estate Group LLC as its master broker for its planned expansion in the New York metropolitan area and select markets across the nation.






via Los Angeles http://www.globest.com/news/12_588/newyork/retail/Hamburger-Chain-Picks-Sabre-RE-as-Master-Broker-332452.html

Glenair Inks 206,000-SF Lease in Anaheim

Glenair, a producer of electrical interconnect accessories, has leased 205,887 square feet at 500 E. Cerritos Ave. in Anaheim, CA for a 15-year term. The single-story, 271,775-square-foot warehouse was originally built in 1965 on 10.9 acres in the Anaheim stadium area of central Orange County. Renovated in 1999, the property features 21 loading docks, 20-foot clear heights, and access on the Southern Pacific Railroad as well as proximity to...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Glenair-Inks-206000-SF-Lease-in-Anaheim/147842?ref=/News/Article/Glenair-Inks-206000-SF-Lease-in-Anaheim/147842&src=rss

Warner Center Sold in $40M Deal

LOS ANGELES-The 255,864-square-foot Warner Center office complex is sold for $40 million in an all-cash deal.






via Los Angeles http://www.globest.com/news/12_588/losangeles/acquisitions_dispositions/Warner-Center-Sold-in-40M-Deal-332440.html

UCLA Report: Prop 39 Fund Would be a Boon

LOS ANGELES—Revolving loan fund could quadruple clean energy investments report says.






via Los Angeles http://www.globest.com/news/12_588/losangeles/legislative/UCLA-Report-Prop-39-Fund-Would-be-a-Boon-332430.html

Blackstone and CityView Break Ground on Final Phase of Barker Block

Construction to begin on state-of-the-art condo unit complex.






via Los Angeles http://www.globest.com/news/12_588/losangeles/multifamily/Blackstone-and-CityView-Break-Ground-on-Final-Phase-of-Barker-Block-332422.html

Davies Named Partner at George Smith

LOS ANGELES-New George Smith partner Malcolm Davies talks about signs of a national economic recovery.






via Los Angeles http://www.globest.com/news/12_588/losangeles/employment/Malcolm-Davies-Named-Partner-at-George-Smith-332392.html

Bixby Ends 10-Year Hold with 268,000-SF Sale

HOUSTON-Despite challenges and a thorny escrow, the sale of Gateway I & II, an office complex located in the Greenspoint submarket, successfully closes.






via Los Angeles http://www.globest.com/news/12_588/houston/office/Bixby-Ends-10-Year-Hold-with-268000-SF-Sale-332409.html

Saturday, April 20, 2013

CoStar's People of Note (April 14-20)

This week's People of Note includes the following markets: Dallas/Fort Worth, Los Angeles, Milwaukee, National and New York City. NEW YORK CITY, NATIONAL NEW AT THE TOP: Gilmartin Named Pres., CEO of Forest City Ratner Cos. By Laurie Forbes Forest City Ratner Cos. named MaryAnne Gilmartin as president and CEO of the Brooklyn-based real estate firm, effective today. She will succeed Bruce Ratner, the compan



via Inland Empire Commercial Real Estate News From CoStar Group http://seattle.costargroup.com/News/Article/CoStars-People-of-Note-April-14-20/147782?ref=/News/Article/CoStars-People-of-Note-April-14-20/147782&src=rss

Market Trend: Inland Empire's Retail Vacancy Decreases to 8.7%

The Inland Empire retail market did not experience much change in market conditions in the first quarter 2013. The vacancy rate went from 8.8% in the previous quarter to 8.7% in the current quarter. Net absorption was positive 546,410 square feet, and vacant sublease space increased by 62,272 square feet. In fourth quarter 2012, net absorption was negative 40,242 square feet. Tenants moving into large blocks of space in 2013 include: Macy...



via Inland Empire Commercial Real Estate News From CoStar Group http://seattle.costargroup.com/News/Article/Market-Trend-Inland-Empires-Retail-Vacancy-Decreases-to-87/147743?ref=/News/Article/Market-Trend-Inland-Empires-Retail-Vacancy-Decreases-to-87/147743&src=rss

Coastal Appliance Buys Fontana Industrial for $2.4M

A private party sold the industrial property at 10680 Mulberry Ave. in Fontana, CA to El Monte-based Coastal Appliance Parts for $2.42 million, or about $66 per square foot. Built in 1990, the property totals 36,714 square feet on 1.8 acres, part of the Reilly/Mulberry Center, located at the southwest corner of Mulberry Ave. and Slover Ave. in San Bernardino County. The subject property is a new expansion for the buyer, a major distributor of...



via Inland Empire Commercial Real Estate News From CoStar Group http://seattle.costargroup.com/News/Article/Coastal-Appliance-Buys-Fontana-Industrial-for-$24M/147281?ref=/News/Article/Coastal-Appliance-Buys-Fontana-Industrial-for-$24M/147281&src=rss

The CoStar Watch List Newsletter for April 18-24

This Week’s Top Stories Sign of the Times: Office REIT Accelerates Move Into Multifamily Mack-Cali's dividend cut reflects its view that suburban office properties in its markets don't hold as much potential as multifamily properties in the same markets. But according to one analyst it also reflects a flawed residential expansion strategy. Read the Full Story... Private Equity Real Estate Fundraising at Lowest Level Since 2003 Twenty closed...



via Inland Empire Commercial Real Estate News From CoStar Group http://seattle.costargroup.com/News/Article/The-CoStar-Watch-List-Newsletter-for-April-18-24/147725?ref=/News/Article/The-CoStar-Watch-List-Newsletter-for-April-18-24/147725&src=rss

Temecula Office Sells for $1.4M

JA Plaza LLC purchased the Rancho Center office building at 27727 Jefferson Ave. in Temecula, CA for $1.36 million, or about $77 per square foot. Built in 1985, the single-story office building totals 17,558 square feet on 1.4-acre parcel, part of the Rancho Temecula Center located at the northwest corner of Jefferson Ave. and Via Montezuma in Riverside County. Cheryl Pestor of NAI Capital Commercial Real Estate represented the seller, Community...



via Inland Empire Commercial Real Estate News From CoStar Group http://seattle.costargroup.com/News/Article/Temecula-Office-Sells-for-$14M/147593?ref=/News/Article/Temecula-Office-Sells-for-$14M/147593&src=rss

Friday, April 19, 2013

New Entrepreneurs Get Space to Grow

LOS ANGELES-Plans are underway for an 18,000-square-foot restaurant/retail center in Pacoima aimed at first- time entrepreneurs.






via Los Angeles http://www.globest.com/news/12_587/losangeles/development/New-Entrepreneurs-Get-Space-to-Grow-332380.html

CoStar's People of Note (April 14-20)

This week's People of Note includes the following markets: Dallas/Fort Worth, Los Angeles, Milwaukee, National and New York City. NEW YORK CITY, NATIONAL NEW AT THE TOP: Gilmartin Named Pres., CEO of Forest City Ratner Cos. By Laurie Forbes Forest City Ratner Cos. named MaryAnne Gilmartin as president and CEO of the Brooklyn-based real estate firm, effective today. She will succeed Bruce Ratner, the compan



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/CoStars-People-of-Note-April-14-20/147782?ref=/News/Article/CoStars-People-of-Note-April-14-20/147782&src=rss

CoStar's People of Note (April 14-20)

This week's People of Note includes the following markets: Dallas/Fort Worth, Los Angeles, Milwaukee, National and New York City. NEW YORK CITY, NATIONAL NEW AT THE TOP: Gilmartin Named Pres., CEO of Forest City Ratner Cos. By Laurie Forbes Forest City Ratner Cos. named MaryAnne Gilmartin as president and CEO of the Brooklyn-based real estate firm, effective today. She will succeed Bruce Ratner, the compan



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/CoStars-People-of-Note-April-14-20/147782?ref=/News/Article/CoStars-People-of-Note-April-14-20/147782&src=rss

Rexford Industrial Adds Two Properties

LOS ANGELES-Rexford Industrial has acquired two properties in Carson and Montclair, adding to its 7.5 million-square-foot regional portfolio.






via Los Angeles http://www.globest.com/news/12_587/losangeles/acquisitions_dispositions/Rexford-Industrial-Adds-Two-Properties-332338.html

Thursday, April 18, 2013

Market Trend: Inland Empire's Retail Vacancy Decreases to 8.7%

The Inland Empire retail market did not experience much change in market conditions in the first quarter 2013. The vacancy rate went from 8.8% in the previous quarter to 8.7% in the current quarter. Net absorption was positive 546,410 square feet, and vacant sublease space increased by 62,272 square feet. In fourth quarter 2012, net absorption was negative 40,242 square feet. Tenants moving into large blocks of space in 2013 include: Macy...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Market-Trend-Inland-Empires-Retail-Vacancy-Decreases-to-87/147743?ref=/News/Article/Market-Trend-Inland-Empires-Retail-Vacancy-Decreases-to-87/147743&src=rss

Coastal Appliance Buys Fontana Industrial for $2.4M

A private party sold the industrial property at 10680 Mulberry Ave. in Fontana, CA to El Monte-based Coastal Appliance Parts for $2.42 million, or about $66 per square foot. Built in 1990, the property totals 36,714 square feet on 1.8 acres, part of the Reilly/Mulberry Center, located at the southwest corner of Mulberry Ave. and Slover Ave. in San Bernardino County. The subject property is a new expansion for the buyer, a major distributor of...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Coastal-Appliance-Buys-Fontana-Industrial-for-$24M/147281?ref=/News/Article/Coastal-Appliance-Buys-Fontana-Industrial-for-$24M/147281&src=rss

The CoStar Watch List Newsletter for April 18-24

This Week’s Top Stories Sign of the Times: Office REIT Accelerates Move Into Multifamily Mack-Cali's dividend cut reflects its view that suburban office properties in its markets don't hold as much potential as multifamily properties in the same markets. But according to one analyst it also reflects a flawed residential expansion strategy. Read the Full Story... Private Equity Real Estate Fundraising at Lowest Level Since 2003 Twenty closed...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/The-CoStar-Watch-List-Newsletter-for-April-18-24/147725?ref=/News/Article/The-CoStar-Watch-List-Newsletter-for-April-18-24/147725&src=rss

Lee ISG Names Chavez President

LOS ANGELES-Lee & Associates has named Joseph Chavez as president of its Investment Services Group. The new president is a multifamily specialist for the Inland Empire/San Gabriel Valley.






via Los Angeles http://www.globest.com/news/12_586/losangeles/employment/Lee-ISG-Names-Chavez-President-332327.html

Market Trend: Inland Empire's Retail Vacancy Decreases to 8.7%

The Inland Empire retail market did not experience much change in market conditions in the first quarter 2013. The vacancy rate went from 8.8% in the previous quarter to 8.7% in the current quarter. Net absorption was positive 546,410 square feet, and vacant sublease space increased by 62,272 square feet. In fourth quarter 2012, net absorption was negative 40,242 square feet. Tenants moving into large blocks of space in 2013 include: Macy...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Market-Trend-Inland-Empires-Retail-Vacancy-Decreases-to-87/147743?ref=/News/Article/Market-Trend-Inland-Empires-Retail-Vacancy-Decreases-to-87/147743&src=rss

The CoStar Watch List Newsletter for April 18-24

This Week’s Top Stories Sign of the Times: Office REIT Accelerates Move Into Multifamily Mack-Cali's dividend cut reflects its view that suburban office properties in its markets don't hold as much potential as multifamily properties in the same markets. But according to one analyst it also reflects a flawed residential expansion strategy. Read the Full Story... Private Equity Real Estate Fundraising at Lowest Level Since 2003 Twenty closed...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/The-CoStar-Watch-List-Newsletter-for-April-18-24/147725?ref=/News/Article/The-CoStar-Watch-List-Newsletter-for-April-18-24/147725&src=rss

Sky Zone Jumps to Van Nuys

LOS ANGELES-The Sky Zone Trampoline Park just leased a 39,000-square-foot space in the San Fernando Valley, it's biggest yet. Rapidly expanding attraction now has over 60 sites in 15 states.






via Los Angeles http://www.globest.com/news/12_586/losangeles/leasing/Sky-Zone-Jumps-to-Van-Nuys-332288.html

Wednesday, April 17, 2013

Luxury Rental Tower in Jersey City to Break Ground in Spring

JERSEY CITY, NJ-A partnership of Toll Brothers Inc. and AECOM Capital plan to break ground this spring on Provost Square, a 417-unit rental apartment tower here.






via Los Angeles http://www.globest.com/news/12_585/newjersey/office/Luxury-Rental-Tower-in-Jersey-City-to-Break-Ground-in-Spring-332281.html

Supermarket Shake-ups Create Openings

LOS ANGELES-There's supermarket consolidation afoot in the market. But as major chains close, new players could emerge to take prime locations.






via Los Angeles http://www.globest.com/news/12_585/losangeles/acquisitions_dispositions/Supermarket-Shake-ups-Create-Openings-332269.html

Coastal Appliance Buys Fontana Industrial for $2.4M

A private party sold the industrial property at 10680 Mulberry Ave. in Fontana, CA to El Monte-based Coastal Appliance Parts for $2.42 million, or about $66 per square foot. Built in 1990, the property totals 36,714 square feet on 1.8 acres, part of the Reilly/Mulberry Center, located at the southwest corner of Mulberry Ave. and Slover Ave. in San Bernardino County. The subject property is a new expansion for the buyer, a major distributor of...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Coastal-Appliance-Buys-Fontana-Industrial-for-$24M/147281?ref=/News/Article/Coastal-Appliance-Buys-Fontana-Industrial-for-$24M/147281&src=rss

Bridge Loan Drives New Condo Project

SANTA MONICA, CA-Development of a new ocean-view condominium project here will likely move forward thanks to a $42.1-million bridge loan that encumbers three properties.






via Los Angeles http://www.globest.com/news/12_585/losangeles/development/Bridge-Loan-Drives-New-Condo-Project-332232.html

New Three-Story Office On Boards

SAN FRANCISCO-Lowe Enterprises will expand Clearview Business Park in San Mateo with 107,696-square-foot class A office project.






via Los Angeles http://www.globest.com/news/12_585/sanfrancisco/office/New-Three-Story-Office-On-Boards-332206.html

CA Buyer Adds 400 More Units to Portfolio

BASTROP, TX-Mount Auburn Capital Group acquires local Walnut Ridge Apartments and Gulf Breeze Apartments in Corpus Christi through its first buy in the Lone Star State.






via Los Angeles http://www.globest.com/news/12_585/austin/multifamily/CA-Buyer-Adds-400-More-Units-to-Portfolio-332237.html

Tuesday, April 16, 2013

"Runway" Officially Takes Off

LOS ANGELES-A $260-million mixed-use project officially breaks ground this week. The project will develop one of the last huge undeveloped land plots in Los Angeles.






via Los Angeles http://www.globest.com/news/12_584/losangeles/development/Runway-Officially-Takes-Off-332213.html

New Law Requires Lease Scrutiny

LOS ANGELES-A new law kicking in July 1 will require landlords and tenants to take a closer look at their commercial lease agreements in order to leverage new protections against disability access lawsuits.






via Los Angeles http://www.globest.com/news/12_584/losangeles/legal/New-Law-Requires-Lease-Scrutiny-332193.html

The Best Cities for Job Growth

NEW YORK CITY-Jobs are still an issue, despite the recovery. Cassidy Turley lays out the Top 10 markets for job growth.






via Los Angeles http://www.globest.com/news/12_584/national/employment/The-Best-Cities-for-Job-Growth-332162.html

Monday, April 15, 2013

Temecula Office Sells for $1.4M

JA Plaza LLC purchased the Rancho Center office building at 27727 Jefferson Ave. in Temecula, CA for $1.36 million, or about $77 per square foot. Built in 1985, the single-story office building totals 17,558 square feet on 1.4-acre parcel, part of the Rancho Temecula Center located at the northwest corner of Jefferson Ave. and Via Montezuma in Riverside County. Cheryl Pestor of NAI Capital Commercial Real Estate represented the seller, Community...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Temecula-Office-Sells-for-$14M/147593?ref=/News/Article/Temecula-Office-Sells-for-$14M/147593&src=rss

Temecula Office Sells for $1.4M

JA Plaza LLC purchased the Rancho Center office building at 27727 Jefferson Ave. in Temecula, CA for $1.36 million, or about $77 per square foot. Built in 1985, the single-story office building totals 17,558 square feet on 1.4-acre parcel, part of the Rancho Temecula Center located at the northwest corner of Jefferson Ave. and Via Montezuma in Riverside County. Cheryl Pestor of NAI Capital Commercial Real Estate represented the seller, Community...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Temecula-Office-Sells-for-$14M/147593?ref=/News/Article/Temecula-Office-Sells-for-$14M/147593&src=rss

Koreatown Gentry Bring New Growth

LOS ANGELES-Koreatown is rapidly gentrifying. The ethnic enclave condo market is hot and an influx of new people attracted by affordable rents should further boost the lively street scene.






via Los Angeles http://www.globest.com/news/12_583/losangeles/other/Koreatown-Gentry-Bring-New-Growth-332164.html

Import Surge May Drive Warehouse Market

LOS ANGELES-An analysis by Jones Lang LaSalle of Port of Los Angeles imports shows a huge spike. Historically, such jumps portend good things for the region's warehouse market.






via Los Angeles http://www.globest.com/news/12_583/losangeles/economy/Import-Surge-May-Drive-Warehouse-Market-332115.html

Saturday, April 13, 2013

CoStar's People of Note (April 7-13)

This week's People of Note includes the following markets: Baltimore, Houston, Long Island, San Diego, San Francisco and Washington, DC. SAN FRANCISCO Arce Chooses Cassidy Turley After Sabbatical By John Walz James W. Arce joined the San Francisco office of Cassidy Turley as senior managing director, west region. In his new position, Arce will oversee the firm’s account management and business development efforts as the firm expa



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/CoStars-People-of-Note-April-7-13/147545?ref=/News/Article/CoStars-People-of-Note-April-7-13/147545&src=rss

Market Trend: Inland Empire's Office Vacancy Decreases to 13.3%

The Inland Empire Office market ended the first quarter 2013 with a vacancy rate of 13.3%. The vacancy rate was down over the previous quarter, with net absorption totaling positive 115,980 square feet in the first quarter. That compares to positive 425,919 square feet in the fourth quarter 2012. Vacant sublease space decreased in the quarter, ending the quarter at 101,840 square feet. Tenants moving into large blocks of space in 2013...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Market-Trend-Inland-Empires-Office-Vacancy-Decreases-to-133/147459?ref=/News/Article/Market-Trend-Inland-Empires-Office-Vacancy-Decreases-to-133/147459&src=rss

The CoStar Watch List Newsletter for April 11-18

This Week’s Top Stories CRE Liquidity: Too Much, Too Little or Just Right? “We are seeing what I consider irrational loan pricing combined with a relaxation of credit standards. I am probably one of the few people in the world that thinks amortization periods have become way too long across the board and that the concepts of real equity and guarantees are often forgotten,” says one bank credit officer. Read the Full Story... Sternlicht and...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/The-CoStar-Watch-List-Newsletter-for-April-11-18/147431?ref=/News/Article/The-CoStar-Watch-List-Newsletter-for-April-11-18/147431&src=rss

Friday, April 12, 2013

CBRE Sees Second-Half Multifamily Surge

LOS ANGELES-The multifamily market in L.A. is coming back, but not at the pace of other western cities, says CBRE Group. However, look for the pace to pick up in 2013's second half.






via Los Angeles http://www.globest.com/news/12_582/losangeles/corporate_real_estate/CBRE-Sees-Second-Half-Multifamily-Surge-332108.html

CoStar's People of Note (April 7-13)

This week's People of Note includes the following markets: Baltimore, Houston, Long Island, San Diego, San Francisco and Washington, DC. SAN FRANCISCO Arce Chooses Cassidy Turley After Sabbatical By John Walz James W. Arce joined the San Francisco office of Cassidy Turley as senior managing director, west region. In his new position, Arce will oversee the firm’s account management and business development efforts as the firm expa



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/CoStars-People-of-Note-April-7-13/147545?ref=/News/Article/CoStars-People-of-Note-April-7-13/147545&src=rss

Fontana Industrial Sells for $3.2M

Mendocino Forest Products Company LLC purchased the industrial building at 13041 Union Ave. in Fontana, CA for $3.2 million, or about $59 per square foot, from a private trust. The buyer, a manufacturer and distributor of environmentally-certified lumber products, had been leasing the premises for about two years at the time of sale. Built in 1979, the rail-served warehouse property totals 53,825 square feet on 5.6 acres located at the southeast...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Fontana-Industrial-Sells-for-$32M/144752?ref=/News/Article/Fontana-Industrial-Sells-for-$32M/144752&src=rss

Beverly Hills Retail on the Rebound

BEVERLY HILLS, CA-Such high-end clothing retailers as Theory and Alice + Olivia have recently opened in Beverly Hills, joining Scoop NYC, Intermix and AllSaints. It's helping this famed shopping area recover from some tough years.






via Los Angeles http://www.globest.com/news/12_582/losangeles/economy/Beverly-Hills-Retail-on-the-Rebound-332075.html

Market Trend: Inland Empire's Office Vacancy Decreases to 13.3%

The Inland Empire Office market ended the first quarter 2013 with a vacancy rate of 13.3%. The vacancy rate was down over the previous quarter, with net absorption totaling positive 115,980 square feet in the first quarter. That compares to positive 425,919 square feet in the fourth quarter 2012. Vacant sublease space decreased in the quarter, ending the quarter at 101,840 square feet. Tenants moving into large blocks of space in 2013...



via Inland Empire Commercial Real Estate News From CoStar Group http://seattle.costargroup.com/News/Article/Market-Trend-Inland-Empires-Office-Vacancy-Decreases-to-133/147459?ref=/News/Article/Market-Trend-Inland-Empires-Office-Vacancy-Decreases-to-133/147459&src=rss

The CoStar Watch List Newsletter for April 11-18

This Week’s Top Stories CRE Liquidity: Too Much, Too Little or Just Right? “We are seeing what I consider irrational loan pricing combined with a relaxation of credit standards. I am probably one of the few people in the world that thinks amortization periods have become way too long across the board and that the concepts of real equity and guarantees are often forgotten,” says one bank credit officer. Read the Full Story... Sternlicht and...



via Inland Empire Commercial Real Estate News From CoStar Group http://seattle.costargroup.com/News/Article/The-CoStar-Watch-List-Newsletter-for-April-11-18/147431?ref=/News/Article/The-CoStar-Watch-List-Newsletter-for-April-11-18/147431&src=rss

Riverside Industrial Sells for $1.7M

Farmer Brothers Co. sold the industrial property at 12101 Madera Way in Riverside, CA to Omega Properties, Inc. for $1,716,500 or about $64 per square foot. The buyer is an owner/user doing business as Roll-A-Shade, a manufacturer of roller shade products. Built in 1989, the property totals 26,737 square feet on 1.6 acres, part of the Rivergate Industrial Park located at the northeast corner of the 91 Freeway and Buchanan St. Ryan Athens of...



via Inland Empire Commercial Real Estate News From CoStar Group http://seattle.costargroup.com/News/Article/Riverside-Industrial-Sells-for-$17M/147280?ref=/News/Article/Riverside-Industrial-Sells-for-$17M/147280&src=rss

BH Mgmt Acquires Lakeview Ctr for $13.8M

BH Management, Inc. acquired Lakeview Center I and II at 3257 and 3237 E. Guasti Rd. in Ontario, CA from The Muller Company for $13.8 million, or about $130 per square foot. Lakeview Center I is a three-story, 53,123-square-foot office building constructed in 2004 on 2.6 acres. Lakeview Center II totals 53,222 square feet on three stories, and was built in 2006 on 3.4 acres in the Airport Area submarket of San Bernardino County. Included in the...



via Inland Empire Commercial Real Estate News From CoStar Group http://seattle.costargroup.com/News/Article/BH-Mgmt-Acquires-Lakeview-Ctr-for-$138M/147312?ref=/News/Article/BH-Mgmt-Acquires-Lakeview-Ctr-for-$138M/147312&src=rss

Thursday, April 11, 2013

Playboy Bunny Hutch for Sale

LOS ANGELES-The Playboy Bunny Hutch, directly across from Hugh Hefner's famed Playboy Mansion, is on the market for $11 million. The home was featured on E! Entertainment's "The Girls Next Door."






via Los Angeles http://www.globest.com/news/12_581/losangeles/sales/Playboy-Bunny-Hutch-on-Sale-332054.html

Market Trend: Inland Empire's Office Vacancy Decreases to 13.3%

The Inland Empire Office market ended the first quarter 2013 with a vacancy rate of 13.3%. The vacancy rate was down over the previous quarter, with net absorption totaling positive 115,980 square feet in the first quarter. That compares to positive 425,919 square feet in the fourth quarter 2012. Vacant sublease space decreased in the quarter, ending the quarter at 101,840 square feet. Tenants moving into large blocks of space in 2013...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Market-Trend-Inland-Empires-Office-Vacancy-Decreases-to-133/147459?ref=/News/Article/Market-Trend-Inland-Empires-Office-Vacancy-Decreases-to-133/147459&src=rss

A Chat With Retail Expert Alvin Mansour

CALABASAS, CA-Developers pipelines are slowly growing and some tenants are ramping up expansions, says the SVP of investments at Marcus & Millichap.






via Los Angeles http://www.globest.com/news/12_581/national/retail/A-Chat-With-Retail-Expert-Alvin-Mansour-332029.html

The CoStar Watch List Newsletter for April 11-18

This Week’s Top Stories CRE Liquidity: Too Much, Too Little or Just Right? “We are seeing what I consider irrational loan pricing combined with a relaxation of credit standards. I am probably one of the few people in the world that thinks amortization periods have become way too long across the board and that the concepts of real equity and guarantees are often forgotten,” says one bank credit officer. Read the Full Story... Sternlicht...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/The-CoStar-Watch-List-Newsletter-for-April-11-18/147431?ref=/News/Article/The-CoStar-Watch-List-Newsletter-for-April-11-18/147431&src=rss

Wednesday, April 10, 2013

CBI Offers Hospitality Division

LOS ANGELES-Commercial Brokers International (CBI) has launched a new national hospitality division, embracing restaurants, nightclubs, motels, boutique/budget hotels and other properties.






via Los Angeles http://www.globest.com/news/12_581/losangeles/asset_management/CBI-Offers-Hospitality-332015.html

L.A. Port Goes Deep

SAN PEDRO, CA.-The Port of Los Angeles has completed what some term its most important infrastructure project, a 10-year, $370 million deepening of its main navigational channel and turning basins.






via Los Angeles http://www.globest.com/news/12_580/losangeles/development/LA-Port-Goes-Deep-331994.html

Riverside Industrial Sells for $1.7M

Farmer Brothers Co. sold the industrial property at 12101 Madera Way in Riverside, CA to Omega Properties, Inc. for $1,716,500 or about $64 per square foot. The buyer is an owner/user doing business as Roll-A-Shade, a manufacturer of roller shade products. Built in 1989, the property totals 26,737 square feet on 1.6 acres, part of the Rivergate Industrial Park located at the northeast corner of the 91 Freeway and Buchanan St. Ryan Athens of...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Riverside-Industrial-Sells-for-$17M/147280?ref=/News/Article/Riverside-Industrial-Sells-for-$17M/147280&src=rss

Riverside Industrial Sells for $1.7M

Farmer Brothers Co. sold the industrial property at 12101 Madera Way in Riverside, CA to Omega Properties, Inc. for $1,716,500 or about $64 per square foot. The buyer is an owner/user doing business as Roll-A-Shade, a manufacturer of roller shade products. Built in 1989, the property totals 26,737 square feet on 1.6 acres, part of the Rivergate Industrial Park located at the northeast corner of the 91 Freeway and Buchanan St. Ryan Athens of...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Riverside-Industrial-Sells-for-$17M/147280?ref=/News/Article/Riverside-Industrial-Sells-for-$17M/147280&src=rss

DTZ Reorganizes Research Team

CHICAGO- The firm also says it will make other big changes and concentrate more on forecasts instead of looking backward.






via Los Angeles http://www.globest.com/news/12_580/chicago/other/DTZ-Reorganizes-Research-Team-331976.html

Madison Partners Nails Office Deals

LOS ANGELES-Two west side office properties are sold for over $34 million by Madison Partners.






via Los Angeles http://www.globest.com/news/12_580/losangeles/acquisitions_dispositions/Madison-Partners-Nails-Office-Deals-331959.html

Tuesday, April 9, 2013

BH Mgmt Acquires Lakeview Ctr for $13.8M

BH Management, Inc. acquired Lakeview Center I and II at 3257 and 3237 E. Guasti Rd. in Ontario, CA from The Muller Company for $13.8 million, or about $130 per square foot. Lakeview Center I is a three-story, 53,123-square-foot office building constructed in 2004 on 2.6 acres. Lakeview Center II totals 53,222 square feet on three stories, and was built in 2006 on 3.4 acres in the Airport Area submarket of San Bernardino County. Included in the...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/BH-Mgmt-Acquires-Lakeview-Ctr-for-$138M/147312?ref=/News/Article/BH-Mgmt-Acquires-Lakeview-Ctr-for-$138M/147312&src=rss

Bofi Fed Closes Biggest Deal Ever

LOS ANGELES-Bofi Federal Bank has closed its biggest deal ever. Bofi is backing an $11M 160-unit multifamily building in the San Fernando Valley.






via Los Angeles http://www.globest.com/news/12_579/losangeles/acquisitions_dispositions/Bofi-Fed-Closes-Biggest-Deal-Ever-331948.html

Tight Multifamily Market in L.A.

LOS ANGELES-The tight multifamily property market here may be overheating, says Danny Monempour, the president of Monem Corp. But there are still deals to be had.






via Los Angeles http://www.globest.com/news/12_579/losangeles/multifamily/Tight-Multifamily-Market-in-LA-331910.html

Monday, April 8, 2013

BH Mgmt Acquires Lakeview Ctr for $13.8M

BH Management, Inc. acquired Lakeview Center I and II at 3257 and 3237 E. Guasti Rd. in Ontario, CA from The Muller Company for $13.8 million, or about $130 per square foot. Lakeview Center I is a three-story, 53,123-square-foot office building constructed in 2004 on 2.6 acres. Lakeview Center II totals 53,222 square feet on three stories, and was built in 2006 on 3.4 acres in the Airport Area submarket of San Bernardino County. Included in the...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/BH-Mgmt-Acquires-Lakeview-Ctr-for-$138M/147312?ref=/News/Article/BH-Mgmt-Acquires-Lakeview-Ctr-for-$138M/147312&src=rss

Shibuya to SVP at DTZ

LOS ANGELES-Darren Shibuya joins DTZ Group as SVP. The addition continues firms hiring of key executives for its executive management team.






via Los Angeles http://www.globest.com/news/12_578/losangeles/employment/Shibuya-to-SVP-at-DTZ-331896.html

Scottsdale Promenade Offered Opportunity to Younan

SCOTTSDALE, AZ-Zaya Younan tells GlobeSt.com that he's bullish both on Phoenix and retail product. The move is on to boost the California company's retail portfolio.






via Los Angeles http://www.globest.com/news/12_578/southwest/acquisitions_dispositions/Scottsdale-Promenade-Offered-Opportunity-to-Younan-331877.html

Marina del Rey Hotel Revamp

LOS ANGELES-DoubleTree by Hilton takes over Courtyard Marina del Rey. The hotel’s rebrand marks a key step in its $7-million property transformation.






via Los Angeles http://www.globest.com/news/12_578/losangeles/acquisitions_dispositions/Marina-del-Rey-Hotel-Revamp-331870.html

Sunday, April 7, 2013

Coreland Hires New Regional Property Manager

Tustin, CA-based Coreland Companies hired Elaine Seaholm as regional real estate manager. Seaholm will be managing a portfolio of commercial properties in the Inland Empire region from Coreland's Corona office. "We are very fortunate to add Elaine to our property management team. She is extremely well-versed in retail, industrial and office management, and will bring a wealth of knowledge to her new leadership role in Corona," remarked Cheryl Todd...



via Inland Empire Commercial Real Estate News From CoStar Group http://seattle.costargroup.com/News/Article/Coreland-Hires-New-Regional-Property-Manager/147094?ref=/News/Article/Coreland-Hires-New-Regional-Property-Manager/147094&src=rss

La Quinta Office Sells for $1M

A private investor purchased the office building at 51350 Desert Club Dr. in La Quinta, CA for $1,025,000, or about $172 per square foot, from Harbor Place LLC. Built in 1980 with renovations in 2008, the single-story office property totals 5,944 square feet on four-tenths of an acre located at the northeast corner of Desert Club Dr. and Calle Cadiz in the Village Commercial District, within walking distance of Old Town La Quinta. Lucas Coronel...



via Inland Empire Commercial Real Estate News From CoStar Group http://seattle.costargroup.com/News/Article/La-Quinta-Office-Sells-for-$1M/147096?ref=/News/Article/La-Quinta-Office-Sells-for-$1M/147096&src=rss

Palm Springs Office Bldgs Trade for $1.6M

Chicago-based Kemper Corp. sold the two office buildings located at 1701-1733 N. Palm Canyon Blvd. in Palm Springs, CA to Solterra Development for $1.55 million, or about $92 per square foot. The buyer plans to occupy approximately 51 percent of the property, and lease out the remaining spaces. Built in 1972, the buildings total 16,870 square feet on about an acre located at the northwest corner of N. Palm Canyon Dr. and W. Vista Chino. John...



via Inland Empire Commercial Real Estate News From CoStar Group http://seattle.costargroup.com/News/Article/Palm-Springs-Office-Bldgs-Trade-for-$16M/146971?ref=/News/Article/Palm-Springs-Office-Bldgs-Trade-for-$16M/146971&src=rss

Friday, April 5, 2013

Scott Meredith Joins Johnson Capital

LOS ANGELES-Veteran real estate executive Scott Meredith has joined Johnson Capital as a Sr. VP handling debt and equity financing. He will be based in the Century City office.






via Los Angeles http://www.globest.com/news/12_577/losangeles/employment/Scott-Meredith-Joins-Johnson-Capital-331858.html

Berkadia Originates $30.5M for Senior Facility

CORONA, CA—The loan on 203-unit Valencia Terrace, which was used to refinance an existing construction loan by BBVA Compass, features a 67 percent loan-to-value (LTV) ratio and amortizes over 30 years.






via Los Angeles http://www.globest.com/news/12_577/losangeles/multifamily/Berkadia-Originates-305M-for-Senior-Facility-331843.html

Younan Buys 137,000-SF Scottsdale Promenade

SCOTTSDALE, AZ-The California buyer re-enters the Phoenix metro market with plans to grow occupancy at the regional lifestyle center.






via Los Angeles http://www.globest.com/news/12_577/phoenix/retail/Younan-Acquires-137000-SF-Scottsdale-Promenade-331841.html

E-Com Needs Drive New Space

LOS ANGELES-The growing world of same-day goods delivery is driving an expansion of new industrial construction in L.A. and the Inland Empire, according to an analysis by Jones Lang LaSalle.






via Los Angeles http://www.globest.com/news/12_577/losangeles/leasing/E-Com-Needs-Drive-New-Space-331817.html

Thursday, April 4, 2013

Atlanta Property Group Buys Northcreek Office Park

CBRE Global Investors have sold the Northcreek Office Park in Buckhead to Atlanta Property Group for approximately $72 million.






via Los Angeles http://www.globest.com/news/12_576/atlanta/office/Atlanta-Property-Group-Buys-Northcreek-Office-Park-331823.html

LAX Terminal 5 Gets $229 Mil Face-lift

LOS ANGELES-Delta Air Lines has partnered with city/airport government for a $229 million renovation of Terminal 5. Construction is underway and should be done by 2015.






via Los Angeles http://www.globest.com/news/12_576/losangeles/development/LAX-Terminal-5-Gets-229-Mil-Face-lift-331806.html

Opus Group Completes New Headquarters for TriZetto

ENGLEWOOD, CO— Lexington Realty Trust owns and manages the building with TriZetto as its only tenant.






via Los Angeles http://www.globest.com/news/12_576/denver/office/Opus-Group-Completes-New-Headquarters-for-TriZetto-331805.html

JLL Market Report: Some Green Shoots

LOS ANGELES-Jones Lang LaSalle indicates some market softness remains.






via Los Angeles http://www.globest.com/news/12_576/losangeles/economy/JLL-Market-Reports-Some-Green-Shoots-331787.html

Residential, Tech Drive West Coast Markets

LOS ANGELES—Cheap debt goads L.A. multifamily prices. Orange County gets more housing. Silicon Valley office shines. Seattle’s a new life sciences hub.






via Los Angeles http://www.globest.com/news/12_576/west/other/Residential-Tech-Drive-West-Coast-Markets-331698.html

Wednesday, April 3, 2013

Coreland Hires New Regional Property Manager

Tustin, CA-based Coreland Companies hired Elaine Seaholm as regional real estate manager. Seaholm will be managing a portfolio of commercial properties in the Inland Empire region from Coreland's Corona office. "We are very fortunate to add Elaine to our property management team. She is extremely well-versed in retail, industrial and office management, and will bring a wealth of knowledge to her new leadership role in Corona," remarked Cheryl Todd...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Coreland-Hires-New-Regional-Property-Manager/147094?ref=/News/Article/Coreland-Hires-New-Regional-Property-Manager/147094&src=rss

Historic Hotel to be Renovated

LOS-Lighthouse Investments and Paligroup team up to buy the Embassy Hotel. Revamped version will debut this summer.






via Los Angeles http://www.globest.com/news/12_575/losangeles/acquisitions_dispositions/Historic-Hotel-to-be-Renovated-331764.html

Coreland Hires New Regional Property Manager

Tustin, CA-based Coreland Companies hired Elaine Seaholm as regional real estate manager. Seaholm will be managing a portfolio of commercial properties in the Inland Empire region from Coreland's Corona office. "We are very fortunate to add Elaine to our property management team. She is extremely well-versed in retail, industrial and office management, and will bring a wealth of knowledge to her new leadership role in Corona," remarked Cheryl Todd...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Coreland-Hires-New-Regional-Property-Manager/147094?ref=/News/Article/Coreland-Hires-New-Regional-Property-Manager/147094&src=rss

Beach Bikes? Dogs? Welcome to the Office

EL SEGUNDO, CA-Bixby Land Co. and Cornerstone Real Estate Advisers LLC hope the dog-friendly office fetches tenants.






via Los Angeles http://www.globest.com/news/12_575/losangeles/acquisitions_dispositions/Beach-bikes-Dogs-Welcome-to-the-office-331727.html

WNC Applauds State Action

IRVINE, CA—Legal clarification from Board of Equalization ends uncertainty among California low-income housing developers.






via Los Angeles http://www.globest.com/news/12_575/losangeles/other/WNC-Applauds-State-Action-331719.html

Tuesday, April 2, 2013

Berzack Changes Name, Not Game

The Berzack Group will change its name to Berzack Investment Property Advisors.






via Los Angeles http://www.globest.com/news/12_574/losangeles/other/Berzack-Changes-Name-Not-Game-331712.html

La Quinta Office Sells for $1M

A private investor purchased the office building at 51350 Desert Club Dr. in La Quinta, CA for $1,025,000, or about $172 per square foot, from Harbor Place LLC. Built in 1980 with renovations in 2008, the single-story office property totals 5,944 square feet on four-tenths of an acre located at the northeast corner of Desert Club Dr. and Calle Cadiz in the Village Commercial District, within walking distance of Old Town La Quinta. Lucas Coronel...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/La-Quinta-Office-Sells-for-$1M/147096?ref=/News/Article/La-Quinta-Office-Sells-for-$1M/147096&src=rss

CBRE Completes Debt Refinancing

LOS ANGELES—Total Debt to Decrease by Nearly $500 Million and Interest Expense to Decline by Approximately $50 Million; $1.2 Billion Revolver Established






via Los Angeles http://www.globest.com/news/12_574/losangeles/other/CBRE-Completes-Debt-Refinancing-331686.html

Demand for MOBs Greater Than Ever

LOS ANGELES-CBRE's Healthcare Capital Markets Group sees a continuation of high demand for medical office product.






via Los Angeles http://www.globest.com/news/12_574/national/medical_office/Demand-for-MOBs-Greater-Than-Ever-331660.html

Culver City $8M Joint Deal

CULVER CITY, CA-Industry Ltd. and Saber Realty Advisors will revamp the industrial building.






via Los Angeles http://www.globest.com/news/12_574/losangeles/acquisitions_dispositions/Culver-City-8M-Joint-Deal-331676.html

Accredited Buyers Investment Site Launches

BEVERLY HILLS, CA-Realty Mogul is a marketplace for accredited investors to pool money online and buy shares of pre-vetted investment properties.






via Los Angeles http://www.globest.com/news/12_574/losangeles/technology/Accredited-Buyers-Investment-Site-Launches-331672.html

Monday, April 1, 2013

Culver City $8 million office deal

Joint venture to revamp industrial building.






via Los Angeles http://www.globest.com/news/12_573/losangeles/acquisitions_dispositions/Culver-City-8-million-office-deal-331674.html

La Quinta Office Sells for $1M

A private investor purchased the office building at 51350 Desert Club Dr. in La Quinta, CA for $1,025,000, or about $172 per square foot, from Harbor Place LLC. Built in 1980 with renovations in 2008, the single-story office property totals 5,944 square feet on four-tenths of an acre located at the northeast corner of Desert Club Dr. and Calle Cadiz in the Village Commercial District, within walking distance of Old Town La Quinta. Lucas Coronel...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/La-Quinta-Office-Sells-for-$1M/147096?ref=/News/Article/La-Quinta-Office-Sells-for-$1M/147096&src=rss

Palm Springs Office Bldgs Trade for $1.6M

Chicago-based Kemper Corp. sold the two office buildings located at 1701-1733 N. Palm Canyon Blvd. in Palm Springs, CA to Solterra Development for $1.55 million, or about $92 per square foot. The buyer plans to occupy approximately 51 percent of the property, and lease out the remaining spaces. Built in 1972, the buildings total 16,870 square feet on about an acre located at the northwest corner of N. Palm Canyon Dr. and W. Vista Chino. John...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Palm-Springs-Office-Bldgs-Trade-for-$16M/146971?ref=/News/Article/Palm-Springs-Office-Bldgs-Trade-for-$16M/146971&src=rss

Palm Springs Office Bldgs Trade for $1.6M

Chicago-based Kemper Corp. sold the two office buildings located at 1701-1733 N. Palm Canyon Blvd. in Palm Springs, CA to Solterra Development for $1.55 million, or about $92 per square foot. The buyer plans to occupy approximately 51 percent of the property, and lease out the remaining spaces. Built in 1972, the buildings total 16,870 square feet on about an acre located at the northwest corner of N. Palm Canyon Dr. and W. Vista Chino. John...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Palm-Springs-Office-Bldgs-Trade-for-$16M/146971?ref=/News/Article/Palm-Springs-Office-Bldgs-Trade-for-$16M/146971&src=rss

Lincoln Property Co. Buys the Desmond

Overhaul of downtown Los Angeles building will target creative office/retail/restaurant space.






via Los Angeles http://www.globest.com/news/12_573/losangeles/acquisitions_dispositions/LINCOLN-PROPERTY-CO-ACQUIRES-THE-DESMOND-331653.html

Steadfast Makes SW Inroads With $61M Buy

BUDA, TX-In separate transactions, the Irvine, CA buyer adds the 264-unit Vantage at Buda Ranch and the 294-unit Deep Deuce at Bricktown in Oklahoma City to its portfolio.






via Los Angeles http://www.globest.com/news/12_573/austin/multifamily/Steadfast-Makes-SW-Inroads-With-61M-Buy-331623.html

Exclusive Interview with John Cona

LONG BEACH, CA-GlobeSt.com speaks exclusively with John Cona, founder and CEO of F9Analytics, about the firm’s new mobile leasing technology and how it is a game-changer for commercial real estate.






via Los Angeles http://www.globest.com/news/12_573/losangeles/leasing/Exclusive-Interview-with-John-Cona-331599.html

Expert: Land Is a Good Investment

LOS ANGELES-One panelist on RealShare L.A. says land is a value-add investment, and companies like Blackstone and Colony that are absorbing housing inventory are “good for the market.”






via Los Angeles http://www.globest.com/news/12_573/losangeles/acquisitions_dispositions/Expert-Land-Is-a-Good-Investment-331603.html