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Wednesday, November 27, 2013

USC Victors at Annual NAIOP Challenge

LOS ANGELES-At the NAIOP Real Estate Challenge, graduate students from UCLA and USC presented competing proposals for an 11-acre development site on Pacific Coast Highway.






via Los Angeles http://www.globest.com/news/12_744/losangeles/development/USC-Victors-at-Annual-NAIOP-Challenge-340242.html

Nadel Architects Completes $165M MF Complex

MARINA DEL REY, CA-The Shores, a 544-unit multifamily complex with 12, five-story buildings, completes construction and launches leasing efforts.






via Los Angeles http://www.globest.com/news/12_744/losangeles/multifamily/Nadel-Architects-Completes-165M-MF-Complex-340243.html

Industry Leaders Raise $30,000 for Charity

LOS ANGELES-Commercial real estate industry leaders gather for the first annual Padres Casino Night to help raise $30,000 for the children's cancer charity Padres Contra El Cancer.






via Los Angeles http://www.globest.com/news/12_744/losangeles/other/Industry-Leaders-Raise-30000-for-Charity-340205.html

Tuesday, November 26, 2013

Market Trend: Inland Empire's Retail Deliveries, Construction and Inventory

During the third quarter 2013, 11 retail buildings totaling 130,970 square feet were completed in the Inland Empire retail market. Over the past four quarters, a total of 601,403 square feet of retail space has been built in Inland Empire. In addition to the current quarter, 13 buildings with 78,660 square feet were completed in second quarter 2013, 14 buildings totaling 313,193 square feet completed in first quarter 2013, and 78,580 square feet...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Market-Trend-Inland-Empires-Retail-Deliveries-Construction-and-Inventory/154897?ref=/News/Article/Market-Trend-Inland-Empires-Retail-Deliveries-Construction-and-Inventory/154897&src=rss

Modera Miramar Complex Sells for $70M

MIRAMAR, FL-An affiliate of IMT Residential of Sherman Oaks, CA has acquired the Modera Miramar apartment complex here for $70 million.






via Los Angeles http://www.globest.com/news/12_743/miami/multifamily/Modera-Miramar-Complex-Sells-for-70M-340193.html

Home Prices Post Biggest Gains Since '06

NEW YORK CITY-However, S&P Dow Jones Indices’ David M. Blitzer notes that the strong resurgence of home prices in the West is “sparking questions and concerns about the possibility of another bubble.”






via Los Angeles http://www.globest.com/news/12_743/national/multifamily/Home-Prices-Post-Biggest-Gains-Since-06-340178.html

Majestic Realty Co. Launches Office Build

SAN GABRIEL VALLEY, CA-Majestic Realty Co. reveals plans for a 166,406-square-foot office building with Bank of the West in agreement to sign a 93,058-square-foot lease.






via Los Angeles http://www.globest.com/news/12_743/losangeles/office/Majestic-Realty-Co-Launches-Office-Build-340176.html

Retail Patterns Predict Holiday Season Growth

LOS ANGELES-A report from Marcus & Millichap predicts a successful holiday season after retail spending increases in October despite the government shutdown.






via Los Angeles http://www.globest.com/news/12_743/losangeles/retail/Retail-Patterns-Predict-Holiday-Season-Growth-340174.html

Market Trend: Inland Empire's Retail Deliveries, Construction and Inventory

During the third quarter 2013, 11 retail buildings totaling 130,970 square feet were completed in the Inland Empire retail market. Over the past four quarters, a total of 601,403 square feet of retail space has been built in Inland Empire. In addition to the current quarter, 13 buildings with 78,660 square feet were completed in second quarter 2013, 14 buildings totaling 313,193 square feet completed in first quarter 2013, and 78,580 square feet...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Market-Trend-Inland-Empires-Retail-Deliveries-Construction-and-Inventory/154897?ref=/News/Article/Market-Trend-Inland-Empires-Retail-Deliveries-Construction-and-Inventory/154897&src=rss

CBRE Miami Adds NY CRE Heavy Hitter

MIAMI—John Fitzsimmons has traded his Cushman & Wakefield accolades for a role at CBRE. Find out what he brings to CBRE's Miami South Florida operations.






via Los Angeles http://www.globest.com/news/12_743/miami/office/CBRE-Miami-Adds-NY-CRE-Heavy-Hitter-340168.html

L.A. Claims "Most Dense" Title

LOS ANGELES-As the nation’s most dense city, Los Angeles needs to revise building codes to accommodate future growth, according to the Impact of Density on L.A. Symposium.






via Los Angeles http://www.globest.com/news/12_743/losangeles/other/LA-Claims-Most-Dense-Title-340134.html

Monday, November 25, 2013

3Q Shows Luxury Home Values Increase

SAN FRANCISCO-A report from First Republic Prestige Home Index shows that luxury home values in San Francisco, Los Angeles and San Diego increase in the third quarter.






via Los Angeles http://www.globest.com/news/12_742/west/multifamily/3Q-Shows-Luxury-Home-Values-Increase-340133.html

South Bay Marriott Fetches $76M

TORRANCE, CA-DiamondRock Hospitality Co. sells the Torrance Marriott South Bay for $76 million in proceeds to an unaffiliated third party.






via Los Angeles http://www.globest.com/news/12_742/losangeles/hotel/South-Bay-Marriott-Fetches-76M-340128.html

L.A. Claims "Most Dense" Title

LOS ANGELES-As the nation’s most dense city, Los Angeles needs to revise building codes to accommodate future growth, according to the Impact of Density on L.A. Symposium.






via Los Angeles http://www.globest.com/news/12_742/losangeles/other/LA-Claims-Most-Dense-Title-340127.html

Sunday, November 24, 2013

SBE Eyes Spot Downtown for Hotel Build

LOS ANGELES-Hospitality brand SBE considers a spot near the Walt Disney Concert Hall in Downtown Los Angeles for a possible hotel development.






via Los Angeles http://www.globest.com/news/12_742/losangeles/hotel/SBE-Eyes-Spot-Downtown-for-Hotel-Build-340103.html

Friday, November 22, 2013

CoStar's People of Note (Nov. 17 - 23)

It's time to update those contact managers with CoStar's People of Note, reporting news on significant new CRE hires and promotions. This week's issue includes the following markets: Chicago, New York City, Boston, Cincinnati, Washington DC, Los Angeles, South Florida, St. Louis, Houston, San Francisco, Charleston, and Northern New Jersey. CHICAGO DTZ Recruits CBRE's Quick to Lead GCS By Ashley Martin

Net Lease Supply Limited, Demand High

LOS ANGELES-Finance and investment panelists at Net Lease West 2013 remain bullish and anticipate a good year due to high demand and limited product supply.






via Los Angeles http://www.globest.com/news/12_741/losangeles/netlease/Net-Lease-Supply-Limited-Demand-High-340085.html

CSULB Tech Park Inks 104,000SF Lease

LONG BEACH-California State University, Long Beach Technology Park sings a 104,737-square-foot lease with Primex Agricultural Services, GlobeSt.com reports in this EXCLUSIVE story.






via Los Angeles http://www.globest.com/news/12_741/losangeles/industrial/CSULB-Tech-Park-Inks-104000SF-Lease-340083.html

CoStar's People of Note (Nov. 17 - 23)

It's time to update those contact managers with CoStar's People of Note, reporting news on significant new CRE hires and promotions. This week's issue includes the following markets: Chicago, New York City, Boston, Cincinnati, Washington DC, Los Angeles, South Florida, St. Louis, Houston, San Francisco, Charleston, and Northern New Jersey. CHICAGO DTZ Recruits CBRE's Quick to Lead GCS By Ashley Martin

Stan Johnson Recruits West Coast Leader

LOS ANGELES-Sam Alison joins Stan Johnson as the firm's West Coast regional director, focusing on single-tenant net lease investment sales, GlobeSt.com reports EXCLUSIVELY.






via Los Angeles http://www.globest.com/news/12_741/losangeles/netlease/Stan-Johnson-Recruits-New-West-Coast-Leader-340058.html

Thursday, November 21, 2013

Mesa West Fund III Hits $752M

LOS ANGELES-Mesa West holds the third close of its Fund III with $100 million over its original fundraising goal.






via Los Angeles http://www.globest.com/news/12_740/losangeles/finance/Mesa-West-Fund-III-Hits-752M-340032.html

Push for Light Rail Extension

ARCADIA, CA-Metro Gold Line Foothill Extension Construction Authority hosts a pre-proposal conference to push for a light rail extension from Azusa to Montclair.






via Los Angeles http://www.globest.com/news/12_740/losangeles/development/Push-for-Light-Rail-Extension-340029.html

Risk Tolerance Key for Net Lease

LOS ANGELES-Panelists at Net Lease West 2013 explain that "good deals" depend on the investor's risk tolerance level.






via Los Angeles http://www.globest.com/news/12_740/losangeles/netlease/Risk-Tolerance-Key-for-Net-Lease-339999.html

Wednesday, November 20, 2013

Ashley Furniture Leases 75,000-SF in Colton

Ashley Furniture Industries, Inc. has signed a three-year lease for 75,377 square feet of industrial space at 1501 Cooley Dr. in Colton, CA. Built in 2004, the building totals 123,711 square feet on 7.4 acres in the East San Bernardino submarket, part of the Cooley Ranch Business Park at the southwest corner of the 10 and 215 Freeways. Ashley Furniture will share the building with Banner Mattress Company. Tal Siglar and Mark Zorn of Colliers...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Ashley-Furniture-Leases-75000-SF-in-Colton/154460?ref=/News/Article/Ashley-Furniture-Leases-75000-SF-in-Colton/154460&src=rss

Norco Retail Acquired for $4.4M

Barrett Heritage LLC purchased the retail building at 3699 Hamner Ave. in Norco, CA from Hunt Electronic USA, Inc. for $4.41 million, or approximately $340 per square foot, in an auction sale. Built in 2005, the building totals 12,954 square feet on 1.2 acres, part of the Norco Freeway Retail Center, located at the southeast corner of 6th St., west of the 15 Freeway. Consisting of ten retail spaces, the asset was 90 percent leased at the time...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Norco-Retail-Acquired-for-$44M/154459?ref=/News/Article/Norco-Retail-Acquired-for-$44M/154459&src=rss

Ashley Furniture Leases 75,000-SF in Colton

Ashley Furniture Industries, Inc. has signed a three-year lease for 75,377 square feet of industrial space at 1501 Cooley Dr. in Colton, CA. Built in 2004, the building totals 123,711 square feet on 7.4 acres in the East San Bernardino submarket, part of the Cooley Ranch Business Park at the southwest corner of the 10 and 215 Freeways. Ashley Furniture will share the building with Banner Mattress Company. Tal Siglar and Mark Zorn of Colliers...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Ashley-Furniture-Leases-75000-SF-in-Colton/154460?ref=/News/Article/Ashley-Furniture-Leases-75000-SF-in-Colton/154460&src=rss

Norco Retail Acquired for $4.4M

Barrett Heritage LLC purchased the retail building at 3699 Hamner Ave. in Norco, CA from Hunt Electronic USA, Inc. for $4.41 million, or approximately $340 per square foot, in an auction sale. Built in 2005, the building totals 12,954 square feet on 1.2 acres, part of the Norco Freeway Retail Center, located at the southeast corner of 6th St., west of the 15 Freeway. Consisting of ten retail spaces, the asset was 90 percent leased at the time...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Norco-Retail-Acquired-for-$44M/154459?ref=/News/Article/Norco-Retail-Acquired-for-$44M/154459&src=rss

Creative Tenants Drive Westside Office Demand

LOS ANGELES-Allen Matkins’ Eric Shelby sits down with GlobeSt.com’s Kelsi Maree Borland to discuss the rising Westside demand for creative office space, in this UPDATE to a previous story.






via Los Angeles http://www.globest.com/news/12_739/losangeles/office/Creative-Tenants-Drive-Westside-Office-Demand-339969.html

Storm Plaza CVS Holds Grand Opening

TORRANCE, CA-Storm Plaza anchor tenant CVS/pharmacy celebrates its grand opening, marking the completion of the shopping center's first phase of construction.






via Los Angeles http://www.globest.com/news/12_739/losangeles/retail/Storm-Plaza-CVS-Holds-Grand-Opening-339968.html

Tuesday, November 19, 2013

Anchor Tenants Renew at The Alhambra

ALHAMBRA, CA-The Alhambra, a 45-acre shopping center, signs expanded leases with three anchor tenants, covering more than 126,000 square feet of mixed-use space.






via Los Angeles http://www.globest.com/news/12_738/losangeles/office/Anchor-Tenants-Expand-Leases-at-The-Alhambra-339934.html

Retail Sector to Generate $10B Per Day

LOS ANGELES-JLL uncovers five strategies to help retailers achieve the 3.9% sales growth estimated by the National Retail Federation this holiday season.






via Los Angeles http://www.globest.com/news/12_738/losangeles/retail/Retail-Sector-to-Generate-10B-Per-Day-339933.html

Riot Games Leases Element LA Campus

LOS ANGELES-Video Game publisher Riot Games Inc. signs a lease for the full Element LA office campus, totaling 284,000 square feet, in what may be the largest Southern California office lease in five years.






via Los Angeles http://www.globest.com/news/12_738/losangeles/office/Riot-Games-Leases-Element-LA-Campus-339877.html

Monday, November 18, 2013

Temecula Office Condos Sell for $2M

A private investor purchased five office condo units totaling 10,750 square feet at 31565 Rancho Pueblo Rd. in Temecula, CA for $2.04 million, or about $190 per square foot, from PNL Companies. Built in 2007, the two-story office property totals 21,880 square feet on more than two acres in the Rancho Pueblo Office Park located at the northeast corner of Temecula Pkwy, part of the Rancho Pueblo Office Park. Jerry Palmer with WestMar Commercial...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Temecula-Office-Condos-Sell-for-$2M/154318?ref=/News/Article/Temecula-Office-Condos-Sell-for-$2M/154318&src=rss

Post Plaza Sold for $1.3M

Hammer Insurance Services, Inc. purchased the flex building at 9225 Charles Smith Ave. in Rancho Cucamonga, CA for $1.25 million, or about $112 per square foot, from a private trust. Built in 2001, Post Plaza totals 11,124 square feet on almost three-quarters of an acre at the southeast corner of 6th St., with frontage on the 15 Freeway. The buyer is an owner/user and will be operating its insurance business at the subject property. James Panting...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Post-Plaza-Sold-for-$13M/154317?ref=/News/Article/Post-Plaza-Sold-for-$13M/154317&src=rss

Palm Desert Flex Bldgs Sold for $3.3M

Renken & Co. purchased two flex properties at 77622 Country Club Dr. in Palm Desert, CA for $3.3 million, or about $100 per square foot, from a private trust. Built in 1988, the two buildings total 32,910 square feet on approximately 2.2 acres located at the northeast corner of Park Center Dr., part of the Country Club Business Park. The two assets were 97 percent occupied at the time of sale. Steve Metzler of Industrial West, Inc. represented...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Palm-Desert-Flex-Bldgs-Sold-for-$33M/154315?ref=/News/Article/Palm-Desert-Flex-Bldgs-Sold-for-$33M/154315&src=rss

Murrieta Retail Trades for $1.2M

Tuff Shed, Inc. purchased the retail building at 41034 Elm St. in Murrieta, CA for $1.18 million, or about $247 per square foot, from Monte Di Villa LLC. The buyer, a storage building and garage manufacturer, will be using the property. Built in 2002, the building totals 4,750 square feet and sits on 3.4 acres located at the southwest corner of Monroe Ave. with freeway frontage west of the I-15. Jon Friesen and Brian Bielatowicz of Lee & Associates...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Murrieta-Retail-Trades-for-$12M/154314?ref=/News/Article/Murrieta-Retail-Trades-for-$12M/154314&src=rss

Colton Retail Sells for $3.6M

Outdoor Food Court LLC purchased the retail building at 1175 S. Mt. Vernon Ave. in Colton, CA for $3.6 million, or about $35 per square foot. The buyer plans to reconfigure the former Kmart store to become a multi-tenant retail building. Built in 1991, the property totals 104,231 square feet on 8.6 acres located in the Cooley Ranch area off the 215 Freeway, just south of the 10 Freeway and across the street from Wal-Mart. Jorge Yamzon and...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Colton-Retail-Sells-for-$36M/154414?ref=/News/Article/Colton-Retail-Sells-for-$36M/154414&src=rss

Colton Retail Sells for $3.6M

Outdoor Food Court LLC purchased the retail building at 1175 S. Mt. Vernon Ave. in Colton, CA for $3.6 million, or about $35 per square foot. The buyer plans to reconfigure the former Kmart store to become a multi-tenant retail building. Built in 1991, the property totals 104,231 square feet on 8.6 acres located in the Cooley Ranch area off the 215 Freeway, just south of the 10 Freeway and across the street from Wal-Mart. Jorge Yamzon and...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Colton-Retail-Sells-for-$36M/154414?ref=/News/Article/Colton-Retail-Sells-for-$36M/154414&src=rss

Temecula Office Condos Sell for $2M

A private investor purchased five office condo units totaling 10,750 square feet at 31565 Rancho Pueblo Rd. in Temecula, CA for $2.04 million, or about $190 per square foot, from PNL Companies. Built in 2007, the two-story office property totals 21,880 square feet on more than two acres in the Rancho Pueblo Office Park located at the northeast corner of Temecula Pkwy, part of the Rancho Pueblo Office Park. Jerry Palmer with WestMar Commercial...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Temecula-Office-Condos-Sell-for-$2M/154318?ref=/News/Article/Temecula-Office-Condos-Sell-for-$2M/154318&src=rss

Post Plaza Sold for $1.3M

Hammer Insurance Services, Inc. purchased the flex building at 9225 Charles Smith Ave. in Rancho Cucamonga, CA for $1.25 million, or about $112 per square foot, from a private trust. Built in 2001, Post Plaza totals 11,124 square feet on almost three-quarters of an acre at the southeast corner of 6th St., with frontage on the 15 Freeway. The buyer is an owner/user and will be operating its insurance business at the subject property. James Panting...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Post-Plaza-Sold-for-$13M/154317?ref=/News/Article/Post-Plaza-Sold-for-$13M/154317&src=rss

Palm Desert Flex Bldgs Sold for $3.3M

Renken & Co. purchased two flex properties at 77622 Country Club Dr. in Palm Desert, CA for $3.3 million, or about $100 per square foot, from a private trust. Built in 1988, the two buildings total 32,910 square feet on approximately 2.2 acres located at the northeast corner of Park Center Dr., part of the Country Club Business Park. The two assets were 97 percent occupied at the time of sale. Steve Metzler of Industrial West, Inc. represented...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Palm-Desert-Flex-Bldgs-Sold-for-$33M/154315?ref=/News/Article/Palm-Desert-Flex-Bldgs-Sold-for-$33M/154315&src=rss

Murrieta Retail Trades for $1.2M

Tuff Shed, Inc. purchased the retail building at 41034 Elm St. in Murrieta, CA for $1.18 million, or about $247 per square foot, from Monte Di Villa LLC. The buyer, a storage building and garage manufacturer, will be using the property. Built in 2002, the building totals 4,750 square feet and sits on 3.4 acres located at the southwest corner of Monroe Ave. with freeway frontage west of the I-15. Jon Friesen and Brian Bielatowicz of Lee & Associates...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Murrieta-Retail-Trades-for-$12M/154314?ref=/News/Article/Murrieta-Retail-Trades-for-$12M/154314&src=rss

Net Lease Industry Strong As Ever

LOS ANGELES-Net Lease West panelist Paul McDowell tells GlobeSt.com's Kelsi Maree Borland that the dynamic changes to the investment market over the last 12 months have made the net lease industry a true investment class.






via Los Angeles http://www.globest.com/news/12_737/losangeles/netlease/Net-Lease-Industry-Strong-As-Ever-339875.html

Diamond Creek Shopping Center Scores $15M

DIAMOND BAR, CA-The Diamond Creek Shopping Center secures a $15 million loan for the 121,788-square-foot center after a recent conversion to a mini-mall.






via Los Angeles http://www.globest.com/news/12_737/losangeles/retail/Diamond-Creek-Shopping-Center-Scores-15M-339876.html

Sunday, November 17, 2013

Partner Ranked First for Phase I ESAs

TORRANCE, CA-In a national poll by EDR Scorekeeper, Partner Engineering and Science Inc. ranks number one in providing Phase I environmental assessments in the third quarter.






via Los Angeles http://www.globest.com/news/12_737/losangeles/engineering/Partner-Ranked-First-for-Phase-I-ESAs-339813.html

Friday, November 15, 2013

Corona Pointe Trades for $96.4M

Advanced Real Estate Services, Inc. acquired the Corona Pointe multifamily community at 3957 Pierce St. in Riverside, CA from Friedkin Realty Management Group for $96.4 million, or about $135,000 per unit. The 605,460-square-foot, low-density, garden-style apartment property was built in 1986 on 34.1 acres in the La Sierra submarket of Riverside County. The 714 units are a mix of one- and two-bedroom apartments spread across 54 buildings with...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Corona-Pointe-Trades-for-$964M/154579?ref=/News/Article/Corona-Pointe-Trades-for-$964M/154579&src=rss

Market Trend: Inland Empire's Office Deliveries, Construction and Inventory

During the third quarter 2013, no new office space was completed in the Inland Empire market area. This compares to six buildings totaling 104,662 square feet that were completed in the second quarter 2013, three buildings totaling 35,859 square feet completed in the first quarter 2013, and one building totaling 19,558 square feet completed in the fourth quarter 2012. There were 135,402 square feet of office space under construction at the...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Market-Trend-Inland-Empires-Office-Deliveries-Construction-and-Inventory/154557?ref=/News/Article/Market-Trend-Inland-Empires-Office-Deliveries-Construction-and-Inventory/154557&src=rss

CoStar's People of Note (Nov. 10 - 16)

It's time to update those contact managers with CoStar's People of Note, reporting news on significant new CRE hires and promotions. This week's issue includes the following markets: Pittsburgh, New York City, Orlando, Phoenix, Milwaukee, Greensboro/Winston-Salem, Greenville/Spartanburg, Los Angeles, Westchester/SoConn, and Tampa. PITTSBURGH Pelusi Stepping Down as HFF's CEO By Tim Trainor

Corona Pointe Trades for $96.4M

Advanced Real Estate Services, Inc. acquired the Corona Pointe multifamily community at 3957 Pierce St. in Riverside, CA from Friedkin Realty Management Group for $96.4 million, or about $135,000 per unit. The 605,460-square-foot, low-density, garden-style apartment property was built in 1986 on 34.1 acres in the La Sierra submarket of Riverside County. The 714 units are a mix of one- and two-bedroom apartments spread across 54 buildings with...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Corona-Pointe-Trades-for-$964M/154579?ref=/News/Article/Corona-Pointe-Trades-for-$964M/154579&src=rss

Market Trend: Inland Empire's Office Deliveries, Construction and Inventory

During the third quarter 2013, no new space was completed in the Inland Empire market area. This compares to six buildings totaling 104,662 square feet that were completed in the second quarter 2013, three buildings totaling 35,859 square feet completed in the first quarter 2013, and one building totaling 19,558 square feet completed in the fourth quarter 2012. There were 135,402 square feet of office space under construction at the end of...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Market-Trend-Inland-Empires-Office-Deliveries-Construction-and-Inventory/154557?ref=/News/Article/Market-Trend-Inland-Empires-Office-Deliveries-Construction-and-Inventory/154557&src=rss

CoStar's People of Note (Nov. 10 - 16)

It's time to update those contact managers with CoStar's People of Note, reporting news on significant new CRE hires and promotions. This week's issue includes the following markets: Pittsburgh, New York City, Orlando, Phoenix, Milwaukee, Greensboro/Winston-Salem, Greenville/Spartanburg, Los Angeles, Westchester/SoConn, and Tampa. PITTSBURGH Pelusi Stepping Down as HFF's CEO By Tim Trainor

Terra Capital Partners Opens L.A. Office

LOS ANGELES-New York-based commercial real estate lenders Terra Capital Partners opens a Los Angeles office with real estate veteran Doug Vikser at the helm.






via Los Angeles http://www.globest.com/news/12_736/losangeles/other/Terra-Capital-Partners-Opens-LA-Office-339810.html

Kennedy Wilson Spends $39M on Portland MF

BEVERLY HILLS, CA-Kennedy Wilson and partners purchases the Pointe, a 388-unit multifamily property in the suburbs of Portland, OR, for $39.5 million.






via Los Angeles http://www.globest.com/news/12_736/losangeles/multifamily/Kennedy-Wilson-Spends-39M-on-Portland-MF-339783.html

Coreland Gains New Lease Assignments

TUSTIN, CA-The firm gains five new retail leasing assignments in Southern California, including three in Orange County and two in Los Angeles County.






via Los Angeles http://www.globest.com/news/12_736/orangecounty/retail/Coreland-Tasked-With-New-Lease-Assignments-339742.html

Thursday, November 14, 2013

Meta Housing Corp. Gets $52M for MF Builds

LOS ANGELES-Meta Housing Corp. secures $52.5 million in financing for the development of three new affordable-housing multifamily properties, totaling 160 units.






via Los Angeles http://www.globest.com/news/12_735/losangeles/multifamily/Meta-Housing-Corp-Gets-52M-for-Developments-339761.html

Multifamily Property Trades Hands for $121M

SAN DIEGO-Essex Property Trust acquires multifamily property Domain by Alta San Diego from Wood Partners for $121M in an all-cash transaction.






via Los Angeles http://www.globest.com/news/12_735/sandiego/acquisitions_dispositions/Multifamily-Property-Trades-Hands-for-121M-339762.html

BFC SBA Lending Leads L.A.

LOS ANGELES-BFC SBA Lending closes over $100 million in SBA 504 loans for 2013, earning the number two spot on a list top firms in the Lender Banking Report issued by the US Small Business Administration.






via Los Angeles http://www.globest.com/news/12_735/losangeles/acquisitions_dispositions/BFC-SBA-Lending-Leads-LA-339736.html

Houston #1 -- in Traffic Congestion

HOUSTON-According to the TomTom Americas Traffic Index, Houston tops other Texas cities when it comes to traffic congestion, and ranks 20th in the Americas and 14th in the United States.






via Los Angeles http://www.globest.com/news/12_735/houston/other/Houston-is-First-In-Traffic-Congestion-339719.html

Wednesday, November 13, 2013

ETCO Homes Holds Grand Opening

BEVERLY HILLS, CA-Luxury condo community ETCO Homes completes construction and schedules a grand opening ceremony to launch sales efforts of the $1 million dollar units.






via Los Angeles http://www.globest.com/news/12_734/losangeles/multifamily/ETCO-Homes-Holds-Grand-Opening-339708.html

One Bldg. = Six-Figure ROI on Green

GLENDALE, CA-Transwestern’s assisting ability advisor Samantha Longshore tells Carrie Rossenfeld that sustainability efforts at 330 N. Brand here led to annual energy savings in the $100,000s.)






via Los Angeles http://www.globest.com/news/12_734/losangeles/office/One-Bldg-Six-Figure-ROI-on-Green-339699.html

Mixed-Use Property Inks Six Retail Tenants

PLAYA VISTA, CA-The Runway at Playa Vista, a new mixed-use community, signs leases for six new restaurant and retail tenants, totaling 25,000 square feet.






via Los Angeles http://www.globest.com/news/12_734/losangeles/retail/Mixed-Use-Development-Inks-Six-Retail-Tenants-339690.html

Tuesday, November 12, 2013

Park Haven Bus Ctr Sells for $8.1M

A joint venture of Cardinal Equities LLC and MDT Properties, Inc. acquired two office buildings at 3350 and 3380 Shelby St. in Ontario, CA for $8.1 million, or about $97 per square foot, from Chippewa Enterprises, Inc. 3350 Shelby St. is a three-story building that was built in 1987 and offers a gross building size of 55,520 square feet. 3380 Shelby St. is a two-story building that was built in 1990 and stands at 32,452 square feet. Both buildings...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Park-Haven-Bus-Ctr-Sells-for-$81M/154154?ref=/News/Article/Park-Haven-Bus-Ctr-Sells-for-$81M/154154&src=rss

Balcony at Beverwil Gets $28M

LOS ANGELES-The Balcony at Beverwil shopping center receives a $28 million refinancing loan to pay off its outstanding principal.






via Los Angeles http://www.globest.com/news/12_733/losangeles/retail/Balcony-at-Beverwil-Gets-28M-339665.html

Rexford Industrial Acquires Industrial Property

LOS ANGELES-Rexford Industrial Realty purchases a four building, 79% occupied industrial property in Yorba Linda for $12 million.






via Los Angeles http://www.globest.com/news/12_733/losangeles/industrial/Rexford-Industrial-Acquires-Industrial-Property-339663.html

Park Haven Bus Ctr Sells for $8.1M

A joint venture of Cardinal Equities LLC and MDT Properties, Inc. acquired two office buildings at 3350 and 3380 Shelby St. in Ontario, CA for $8.1 million, or about $97 per square foot, from Chippewa Enterprises, Inc. 3350 Shelby St. is a three-story building that was built in 1987 and offers a gross building size of 55,520 square feet. 3380 Shelby St. is a two-story building that was built in 1990 and stands at 32,452 square feet. Both buildings...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Park-Haven-Bus-Ctr-Sells-for-$81M/154154?ref=/News/Article/Park-Haven-Bus-Ctr-Sells-for-$81M/154154&src=rss

Office Vacancy Stagnant for Seven Quarters

LOS ANGELES-Studley's third quarter office report shows that vacancy rates for traditional office properties has remained stagnant for the past seven quarters, at 19%.






via Los Angeles http://www.globest.com/news/12_733/losangeles/office/Office-Vacancy-Stagnant-for-Seven-Quarters-339635.html

L.A. Residential Increases Changing Retail Landscape

LOS ANGELES-In this EXCLUSIVE commentary, Charles Dunn’s Tracy Taft says that Downtown’s spread-out population, limited parking, and few spaces for large retail hubs is creating a niche for retail.






via Los Angeles http://www.globest.com/news/12_733/west/retail/LA-Residential-Increases-Changing-Retail-Landscape-339607.html

Monday, November 11, 2013

TruAmerica Completes Second Acquisition

LOS ANGELES-Robert Hart tells GlobeSt.com's Kelsi Maree Borland about his newly launched multifamily investment firm, TruAmerica Multifamily, and its recent and upcoming acquisitions.






via Los Angeles http://www.globest.com/news/12_732/losangeles/multifamily/TruAmerica-Completes-Second-Acquisition-339613.html

Toll Brothers Acquires Shapell Homes

BEVERLY HILLS, CA-Colliers International's Sal Provenza tells GlobeSt.com about Toll Brothers recent $1.60 billion cash acquisition of Shapell Industries Inc. in this UPDATE to a previous story.






via Los Angeles http://www.globest.com/news/12_732/losangeles/acquisitions_dispositions/Toll-Brothers-Acquires-Shapell-Homes-339612.html

Bankrupt Retail Center Sails for $18M

CAMARILLO, CA-After a two year battle, Colliers International successfully curbs bankruptcy sale loan restrictions to close the acquisition of Camarillo Plaza for $17.7 million, GlobeSt.com reports in this EXCLUSIVE story.






via Los Angeles http://www.globest.com/news/12_732/losangeles/retail/Bankrupt-Retail-Center-Sails-for-18M-339588.html

Friday, November 8, 2013

CoStar's People of Note (Nov. 3 - 9)

It's time to update those contact managers with CoStar's People of Note, reporting news on significant new CRE hires and promotions. This week's issue includes the following markets: Tampa, Boston, Dallas, Westchester/SoConn, San Francisco, East Bay, Chicago, Indianapolis, Richmond, New York City, Pittsburgh, Orlando, Atlanta, South Florida, and Phoenix. TAMPA CBRE Adds Industrial Services Team in Tampa By Thomas Wojehowski

Market Trend: Inland Empire's Industrial Vacancy Stays at 6.3%

The Inland Empire Industrial market ended the third quarter 2013 with a vacancy rate of 6.3%. The vacancy rate was unchanged over the previous quarter, with net absorption totaling positive 2,412,767 square feet in the third quarter. That compares to positive 1,825,295 square feet in the second quarter 2013. Vacant sublease space increased in the quarter, ending the quarter at 545,512 square feet. Tenants moving into large blocks of space...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Market-Trend-Inland-Empires-Industrial-Vacancy-Stays-at-63/154234?ref=/News/Article/Market-Trend-Inland-Empires-Industrial-Vacancy-Stays-at-63/154234&src=rss

Market Trend: Inland Empire's Industrial Vacancy Stays at 6.3%

The Inland Empire Industrial market ended the third quarter 2013 with a vacancy rate of 6.3%. The vacancy rate was unchanged over the previous quarter, with net absorption totaling positive 2,412,767 square feet in the third quarter. That compares to positive 1,825,295 square feet in the second quarter 2013. Vacant sublease space increased in the quarter, ending the quarter at 545,512 square feet. Tenants moving into large blocks of space...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Market-Trend-Inland-Empires-Industrial-Vacancy-Stays-at-63/154234?ref=/News/Article/Market-Trend-Inland-Empires-Industrial-Vacancy-Stays-at-63/154234&src=rss

CoStar's People of Note (Nov. 3 - 9)

It's time to update those contact managers with CoStar's People of Note, reporting news on significant new CRE hires and promotions. This week's issue includes the following markets: Tampa, Boston, Dallas, Westchester/SoConn, San Francisco, East Bay, Chicago, Indianapolis, Richmond, New York City, Pittsburgh, Orlando, Atlanta, South Florida, and Phoenix. TAMPA CBRE Adds Industrial Services Team in Tampa By Thomas Wojehowski

Ground Breaks on $80M Shopping Center

LOS ANGELES-Federal Realty begins construction on the Point, an $80 million dining and entertainment shopping center in the South Bay, set to open in 2015.






via Los Angeles http://www.globest.com/news/12_731/losangeles/retail/Ground-Breaks-on-80M-Shopping-Center-339563.html

Put Ducks in Row For Rent Collection

GLENDALE, CA-Planning ahead what you’ll do if tenants don’t pay will go a long way toward assuring you get the rent you’re owed, Fidelity Creditor Service’s Clint Sallee tells Carrie Rossenfeld.






via Los Angeles http://www.globest.com/news/12_731/losangeles/leasing/Put-Ducks-in-Row-For-Rent-Collection-339551.html

CBRE Global Closes Deal for 337-Unit Asset

PHOENIX-The buyer pays $51 million to Prudential Real Estate Investors for its first investment in the Valley; the class A Ninety Degrees.






via Los Angeles http://www.globest.com/news/12_731/phoenix/multifamily/CBRE-Global-Closes-Deal-for-337-Unit-Asset-339525.html

Creative Office Vacancy Falls Below 11%

LOS ANGELES-Vacancy rates for creative office space on the Westside, especially Culver City and Playa Vista, fall to 10.6% for the first time since 2008.






via Los Angeles http://www.globest.com/news/12_731/losangeles/office/Creative-Office-Vacancy-Falls-Below-11-339531.html

Thursday, November 7, 2013

Port of Long Beach Signs Port Pact

LOS ANGELES-The Port of Long Beach and the Busan Port Authority sign a sister port pact in South Korea as part of the port’s $4 billion modernization program.






via Los Angeles http://www.globest.com/news/12_730/losangeles/other/Port-of-Long-Beach-Signs-Port-Pact-339522.html

Maxxam Enterprises Signs Lululemon

BEVERLY HILLS, CA-Maxxam Enterprises inks a long-term lease with yoga brand Lululemon for a 6,400-square-foot store space at Santa Monica's Third Street Promenade.






via Los Angeles http://www.globest.com/news/12_730/losangeles/retail/Maxxam-Enterprises-Signs-Lululemon-339521.html

PS Business Parks' Public Offering $79.25PPS

LOS ANGELES-PS Business Parks Inc. estimates $103 million in gross proceeds from its public offering of 1.3 million shares of common stock priced at $79.25 per share.






via Los Angeles http://www.globest.com/news/12_730/losangeles/finance/PS-Business-Parks-Common-Stock-7925Share-339483.html

Wednesday, November 6, 2013

Blue Sky Hospitality Purchases Best Western Inn for $6.4M

A private investor sold the Best Western Inn @ Palm Springs motel at 1633 S. Palm Canyon Dr. in Palm Springs, CA to Blue Sky Hospitality Investment, Inc. for $6.4 million, or about $91,000 per room. The 27,650-square-foot hospitality building was constructed in 1975 in the Coachella Valley submarket of Riverside County. Steve Usher of Titan Hospitality represented both the buyer and the seller in the sale. Please see CoStar COMPS #2841678...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Blue-Sky-Hospitality-Purchases-Best-Western-Inn-for-$64M/153874?ref=/News/Article/Blue-Sky-Hospitality-Purchases-Best-Western-Inn-for-$64M/153874&src=rss

Blue Sky Hospitality Purchases Best Western Inn for $6.4M

A private investor sold the Best Western Inn @ Palm Springs motel at 1633 S. Palm Canyon Dr. in Palm Springs, CA to Blue Sky Hospitality Investment, Inc. for $6.4 million, or about $91,000 per room. The 27,650-square-foot hospitality building was constructed in 1975 in the Coachella Valley submarket of Riverside County. Steve Usher of Titan Hospitality represented both the buyer and the seller in the sale. Please see CoStar COMPS #2841678...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Blue-Sky-Hospitality-Purchases-Best-Western-Inn-for-$64M/153874?ref=/News/Article/Blue-Sky-Hospitality-Purchases-Best-Western-Inn-for-$64M/153874&src=rss

JV Pays $9.1M for Fontana Land

A joint venture between The Bascom Group LLC and Real Estate Development Associates has purchased 16.9 acres of industrial land at 11100 Hemlock Ave. in Fontana, CA from JM Eagle, a manufacturing company, for $9.07 million, or about $537,000 per acre. The buyer has plans to build an industrial and distribution building totaling 350,000 square feet sometime next year. The unimproved land is located in the Airport Area submarket, and was level cleared...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/JV-Pays-$91M-for-Fontana-Land/153450?ref=/News/Article/JV-Pays-$91M-for-Fontana-Land/153450&src=rss

Shopping Center Portfolio Lands $42M

LOS ANGELES-A joint venture between Fountain Capital and Cheney & Mathes Properties secures $41.6 million for the acquisition of 16 Walmart-adjacent shopping centers in 10 markets throughout the country.






via Los Angeles http://www.globest.com/news/12_729/losangeles/retail/Shopping-Center-Portfolio-Lands-42M-339474.html

Environmental Risks Tops List of Concerns

LOS ANGELES-Some of the key takeaways from a recent poll to our readers was that most of the 500 CRE respondents said zoning/entitlement and environmental issues ranked among the highest asset-level concerns—We also learned a few surprises along the way.






via Los Angeles http://www.globest.com/news/12_729/losangeles/engineering/Environmental-Risks-Tops-List-of-Concerns-339408.html

Griffin Capital Gains $521M Office Portfolio

EL SEGUNDO, CA-GlobeSt.com learns EXCLUSIVELY that the firm has acquired an 18-asset, triple-net-leased portfolio that nearly doubles the REIT’s size.






via Los Angeles http://www.globest.com/news/12_729/losangeles/office/Griffin-Capital-Gains-521M-Office-Portfolio-339447.html

Medical Office Portfolios Get $240M

LOS ANGELES-Illustrating increased activity in the healthcare sector, G&L Realty secures two loans totaling $240 million for an eight-building medical office portfolio.






via Los Angeles http://www.globest.com/news/12_729/losangeles/medical_office/Medical-Office-Portfolios-Get-240M-339445.html

JV Pays $9.1M for Fontana Land

A joint venture between The Bascom Group LLC and Real Estate Development Associates has purchased 16.9 acres of industrial land at 11100 Hemlock Ave. in Fontana, CA from JM Eagle, a manufacturing company, for $9.07 million, or about $537,000 per acre. The buyer has plans to build an industrial and distribution building totaling 350,000 square feet sometime next year. The unimproved land is located in the Airport Area submarket, and was level cleared...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/JV-Pays-$91M-for-Fontana-Land/153450?ref=/News/Article/JV-Pays-$91M-for-Fontana-Land/153450&src=rss

Tuesday, November 5, 2013

Davis Wright Tremaine Renews DTLA Lease

LOS ANGELES- Davis Wright Tremaine LLP renews the lease of its 43,801-square-foot office in Downtown Los Angeles, GlobeSt.com learns in this EXCLUSIVE story.






via Los Angeles http://www.globest.com/news/12_728/losangeles/office/Davis-Wright-Tremaine-Renews-Downtown-LA-Lease-339411.html

WeHo Retail Property Fetches $27M

LOS ANGELES-L3 Capital sells its second West Hollywood retail investment property this month for $26.6 million to Thor Equities.






via Los Angeles http://www.globest.com/news/12_728/losangeles/retail/WeHo-Retail-Property-Fetches-27M-339409.html

CBRE Acquires Healthcare, Real Estate Firms

LOS ANGELES-CBRE expands its healthcare platform and reach to Southeastern states with the acquisition of two firms: health care consulting firm KLMK Group and Charleston-based real estate services firm CB Richard Ellis Carmody.






via Los Angeles http://www.globest.com/news/12_728/losangeles/acquisitions_dispositions/CBRE-Acquires-KLMK-Group-Richard-Ellis-Carmody-339386.html

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

The Inland Empire retail market experienced a slight improvement in market conditions in the third quarter 2013. The vacancy rate went from 8.9% in the previous quarter to 8.7% in the current quarter. Net absorption was positive 343,466 square feet, and vacant sublease space decreased by 89,076 square feet. In second quarter 2013, net absorption was positive 149,165 square feet. Tenants moving into large blocks of space in 2013 include:...



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-87/154024?ref=/News/Article/Market-Trend-Inland-Empires-Retail-Vacancy-Decreases-to-87/154024&src=rss

More Store Closings, Asset Sales May Not Be Enough to Save Sears, Analyst Reports

Sears Holdings Corp. announced a number of actions this past week prior to releasing its earnings report for the third quarter. Sears warned that its third-quarter EBITDA loss will widen to $250 million to $300 million, compared with last year’s comparable-period EBITDA loss of $156 million. The beleaguered retail giant said it would continue to evaluate its U.S. stores by reviewing each location, including leased locations that are set to expire...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/More-Store-Closings-Asset-Sales-May-Not-Be-Enough-to-Save-Sears-Analyst-Reports/153939?ref=/News/Article/More-Store-Closings-Asset-Sales-May-Not-Be-Enough-to-Save-Sears-Analyst-Reports/153939&src=rss

Monday, November 4, 2013

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

The Inland Empire retail market experienced a slight improvement in market conditions in the third quarter 2013. The vacancy rate went from 8.9% in the previous quarter to 8.7% in the current quarter. Net absorption was positive 343,466 square feet, and vacant sublease space decreased by 89,076 square feet. In second quarter 2013, net absorption was positive 149,165 square feet. Tenants moving into large blocks of space in 2013 include:...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Market-Trend-Inland-Empires-Retail-Vacancy-Decreases-to-87/154024?ref=/News/Article/Market-Trend-Inland-Empires-Retail-Vacancy-Decreases-to-87/154024&src=rss

Downtown Hotel Market Hot

LOS ANGELES- In preparation for the upcoming Renaissance of Downtown Los Angeles: Opportunity Knocks conference, Carol E. Schatz tells GlobeSt.com about downtown's booming hotel, multifamily and office sectors.






via Los Angeles http://www.globest.com/news/12_727/losangeles/other/Downtown-Hotel-Market-Hot-339360.html

Medical Foundation Offices Get $19M

LOS ANGELES-Pheasant West LLC receives $19 million to refinance a 200,000-square-foot office building currently leased by the University of Wisconsin Medical Foundation.






via Los Angeles http://www.globest.com/news/12_727/losangeles/office/Medical-Foundation-Offices-Get-19M-339322.html

More Store Closings, Asset Sales May Not Be Enough to Save Sears, Analyst Reports

Sears Holdings Corp. announced a number of actions this past week prior to releasing its earnings report for the third quarter. Sears warned that its third-quarter EBITDA loss will widen to $250 million to $300 million, compared with last year’s comparable-period EBITDA loss of $156 million. The beleaguered retail giant said it would continue to evaluate its U.S. stores by reviewing each location, including leased locations that are set to expire...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/More-Store-Closings-Asset-Sales-May-Not-Be-Enough-to-Save-Sears-Analyst-Reports/153939?ref=/News/Article/More-Store-Closings-Asset-Sales-May-Not-Be-Enough-to-Save-Sears-Analyst-Reports/153939&src=rss

Sunday, November 3, 2013

Amazon to Open Fourth CA Fulfillment Center in Moreno Valley

Amazon.com, Inc.is finalizing plans to open a new 1.2 million-square-foot fulfillment center in Moreno Valley, CA, the e-tailer's fourth distribution center in California. The giant online retailer will employ 1,000 people full time at the new center. Amazon’s other sites in the Golden State are located in San Bernardino, and the San Joaquin Valley communities of Patterson and Tracy, said Mike Roth, Amazon’s vice president of North America operations...



via Inland Empire Commercial Real Estate News From CoStar Group http://seattle.costargroup.com/News/Article/Amazon-to-Open-Fourth-CA-Fulfillment-Center-in-Moreno-Valley/153893?ref=/News/Article/Amazon-to-Open-Fourth-CA-Fulfillment-Center-in-Moreno-Valley/153893&src=rss

Stoneridge Apts. in Upland Sells for $42 Million

MG Properties Group purchased 1540 W. 8th St., in Upland, CA for $42 million, or $140,000 per unit. Built in 1972 and renovated in 2007, the property consists of 300 units and totals 253,450 square feet on 11.35 acres. The property was 95 percent leased at time of sale, and was part of a 1031 exchange. Dean Zander, Vince Norris, and Margie Malloy of Hendricks & Partners represented the seller, Sares-Regis Group. The buyer handled the deal...



via Inland Empire Commercial Real Estate News From CoStar Group http://seattle.costargroup.com/News/Article/Stoneridge-Apts-in-Upland-Sells-for-$42-Million/153780?ref=/News/Article/Stoneridge-Apts-in-Upland-Sells-for-$42-Million/153780&src=rss

Corona Industrial Sells for $4M

A private trust sold the industrial building at 1955 Sampson Ave. in Corona, CA to K&B Engineering for $4 million, or approximately $308 per square foot. The buyer, a leader in communications engineering, is an owner/user currently headquartered at Corporate Terrace Plaza in Corona. K&B Electric plans to expand its business to the Sampson property. The 13,000-square-foot building features 10 grade-level doors and sits on a large 6.54-acre...



via Inland Empire Commercial Real Estate News From CoStar Group http://seattle.costargroup.com/News/Article/Corona-Industrial-Sells-for-$4M/153655?ref=/News/Article/Corona-Industrial-Sells-for-$4M/153655&src=rss

Crayons Bldg Sells For $1.4 Million

A private investor sold the 10,280-square-foot Palm Springs office building, known as the Crayons Building for $1.35 million, or approximately $131 per square foot. The property is located at 1109-1117 N Palm Canyon Dr. The buyer is another private investor who will continue to lease out the remaining office spaces. Rob Wenthold and Steve Lyle of Coldwell Banker Commercial / Lyle & Associates represented the seller. Mark Spohn of Sperry Van...



via Inland Empire Commercial Real Estate News From CoStar Group http://seattle.costargroup.com/News/Article/Crayons-Bldg-Sells-For-$14-Million/153703?ref=/News/Article/Crayons-Bldg-Sells-For-$14-Million/153703&src=rss

Indiana Professional Plaza Acquired for $1.4M

20-20 Vision Associates purchased the 10,970-square-foot office park known as Indiana Professional Plaza, located at 7359-7379 Indiana Ave. in Riverside, CA, for $1,371,250, or approximately $125 per square foot. The buyer, an optometrist, is relocating from within the city of Riverside and plans to occupy the 7,200-square-foot building at 7379 Indiana Ave. for its business. The current tenant in 7359 Indiana Ave, a real estate firm, will continue...



via Inland Empire Commercial Real Estate News From CoStar Group http://seattle.costargroup.com/News/Article/Indiana-Professional-Plaza-Acquired-for-$14M/153661?ref=/News/Article/Indiana-Professional-Plaza-Acquired-for-$14M/153661&src=rss

Friday, November 1, 2013

Stoneridge Apts. in Upland Sells for $42 Million

MG Properties Group purchased 1540 W. 8th St., in Upland, CA for $42 million, or $140,000 per unit. Built in 1972 and renovated in 2007, the property consists of 300 units and totals 253,450 square feet on 11.35 acres. The property was 95 percent leased at time of sale, and was part of a 1031 exchange. Dean Zander, Vince Norris, and Margie Malloy of Hendricks & Partners represented the seller, Sares-Regis Group. The buyer handled the deal...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Stoneridge-Apts-in-Upland-Sells-for-$42-Million/153780?ref=/News/Article/Stoneridge-Apts-in-Upland-Sells-for-$42-Million/153780&src=rss

Stoneridge Apts. in Upland Sells for $42 Million

MG Properties Group purchased 1540 W. 8th St., in Upland, CA for $42 million, or $140,000 per unit. Built in 1972 and renovated in 2007, the property consists of 300 units and totals 253,450 square feet on 11.35 acres. The property was 95 percent leased at time of sale, and was part of a 1031 exchange. Dean Zander, Vince Norris, and Margie Malloy of Hendricks & Partners represented the seller, Sares-Regis Group. The buyer handled the deal...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Stoneridge-Apts-in-Upland-Sells-for-$42-Million/153780?ref=/News/Article/Stoneridge-Apts-in-Upland-Sells-for-$42-Million/153780&src=rss

Downtown Momentum Still Accelerating

LOS ANGELES-Downtown power players convene at the premier Downtown Los Angeles real estate roundtable hosted by CBRE and Allen Matkins and agree that the downtown market is only getting stronger, GlobeSt.com reports in this EXCLUSIVE story.






via Los Angeles http://www.globest.com/news/12_726/losangeles/other/Downtown-Momentum-Continues-to-Accelerate-339304.html

NexCore Under Contract to Buy Dignity Portfolio

DENVER-According to SEC filings, the local buyer agreed to pay $114 million to JLL Income Property Trust for the 13-building portfolio of healthcare real estate assets in California and Arizona.






via Los Angeles http://www.globest.com/news/12_726/national/medical_office/NexCore-Under-Contract-to-Buy-Dignity-Portfolio-339291.html

Leaders Advocate Transportation Investment

LOS ANGELES-City leaders including Mayor Eric Garcetti ague for transportation improvements and investments at 12th Annual Mobility 21 Southern California Transportation Summit.






via Los Angeles http://www.globest.com/news/12_726/losangeles/other/City-Leaders-Advocate-Transportation-Investment-339261.html

Where Retail Investment Capital Is Going in SoCal

LOS ANGELES-Where is retail demand? Is development back? These are some of the questions we asked CBRE retail investment specialists in this EXCLUSIVE Q&A.






via Los Angeles http://www.globest.com/news/12_726/west/retail/Where-Retail-Investment-Capital-Is-Going-in-SoCal-339243.html