Jade Enterprises Acquires Figueroa Tower

LOS ANGELES--With plans to renovate the property for creative and traditional office space, JADE names Cushman & Wakefield as the exclusive leasing team for the iconic downtown building.



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Developer Snatches DT Parking Lot

LOS ANGELES--Parallel Acquisitions and Holdings and Sunrise Real Estate acquire a five-story parking structure in Downtown Los Angeles from Joe's Auto Parks with plans to build a retail center with onsite parking.



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16 Restaurant Leases Signed at RiverPark

OXNARD, CA--The Collection at RiverPark aims to be a food center of Ventura County with 10 new restaurants now open and six more restaurants in the pipeline.



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Lenders Provide $90M in Financing for High Ridge Park

STAMFORD, CT--An affiliate of New York City-based George Comfort & Sons has secured a total of $90 million in debt financing from Mesa West Capital and RCG Longview for its 583,000-square-foot High Ridge Park Corporate Center office complex here.



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High-Quality Senior Housing Arrives

LONG BEACH, CA--Meta Housing Corp. and Path Ventures break ground on a high-quality but affordable LEED-Silver certified senior housing complex.



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Petco-Leased Building Trades Hands

LOS ANGELES--Kanin Family Trust purchases the two-story, 18,000-square-foot Pooch hotel from Petco for $11 million, GlobeSt.com reports in this EXCLUSIVE story.



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DivcoWest Buys Continental Ground Plaza

EL SEGUNDO, CA--The two-building, 483,000-square-foot office complex is the firm's second purchase in the El Segundo market this year.



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Transwestern Expands Finance Team

LOS ANGELES--Robert Murphy joins Transwestern as VP of the firm's structured finance group, focusing on debt and equity placement for the firm's national corporate and institutional clients.



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Investor Sets Sights on Glendale

GLENDALE, CA--The Sirott Family Trust expands its multifamily portfolio with the acquisition of two apartment complexes for a total of nearly $25 million in an off-market transaction.



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Lloyd Bakan Joins Avison Young

LOS ANGELES--The firm hires Bakan as a principal in the West Los Angeles office to grow the firm's local and national investment and leasing platforms, including sales and tenant and landlord representations.



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Rent Growth Overestimated, Study Shows

LOS ANGELES--Xudong An, visiting scholar at the UCLA Ziman Center for Real Estate, finds that the conventional method of calculating rent growth inflates the results and that rent growth is actually much lower than perceived, GlobeSt.com reports EXCLUSIVELY .



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Shopping Center Trades Hands for First Time

SHERMAN OAKS, CA--The Festival Cos. of Los Angeles buys the shopping center for $16.8 million, the center's first new owner since the center was built in 1960.



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Multifamily Complex Secures Low-Rate Financing

NORTHRIDGE, CA--Index Investors secures a refinance loan with a low fixed interest rate near 4% for its rare 40-unit, townhouse-style multifamily complex.



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26 Industrial Acres Fetch $20M

LOS ANGELES--The Magellan Group acquires one of the largest entitled land parcels for $20 million with plans to build a 500,000-square-foot, five-building industrial development.



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Channel Island Hampton Inn Trades Hands

OXNARD, CA--Brighton Management acquires the 95-room, waterfront hotel from Harbor Hospitality II LLC, the company's fourth Ventura County hotel acquisition in two years.



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Foreign Investor Snatches Retail Condo Properties

PLAYA VISTA, CA--An affiliate Brookfield Office Properties sells the Shops at Concert Park, a 100% leased retail portfolio, for nearly $17 million with $10.8 million financed through a CMBS loan, GlobeSt.com reports in this EXCLUSIVE story.



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Net Lease Demand Likely to Stay High

LOS ANGELES--Net lease properties have characteristics like liquidity, depreciation, and management ease that attract private and institutional investors, says Stan Johnson west region director in part 2 of this EXCLUSIVE Q&A.



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Clean Energy Financing Goes Residential

LOS ANGELES--The L.A. County Board of supervisors votes to enable a program that gives financing for energy- and water-efficient renovations to homeowners in 42 cities.



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Automotive Retail Set for Growth

LOS ANGELES--In this UPDATE to a previous story, Jodi Meade, Avison Young's newest principal and director of the automotive properties group, talks about the niche sector's potential and trends in this Q&A.



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Experiential Tenants, Grocery Shake Up

LOS ANGELES--Gary Glick, partner at Cox Castle Nicholson EXCLUSIVELY tells GlobeSt.com that based on the deals they are doing, there are two major movements in retail.



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Office Tenants Migrate to Downtown Market

LOS ANGELES--Nearly half of the 110,000 square feet of office leases signed by Brookfield Office Properties this year were from out of market tenants, showing that many companies are migrating to the market.



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Bernards to Build $54M Mixed-Use

LOS ANGELES--Located in South Park of Downtown Los Angeles, the 293-unit project from developer the Wolff Co. is scheduled to break ground this month.



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Ware Malcomb Names Director

LOS ANGELES--The architecture and design firm names Anita Makwana as director of interior architecture and design to lead business development and growth for the firm.



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Downtown Condo Values Rise

LOS ANGELES-- According to a the Mark Co. trend sheet, downtown condo values in April were $650 per square foot, an increase of 8% year-over-year and 1% month-over-month.



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County Holds Bid4Assets.com Auction

LOS ANGELES--The county will sell 675 tax-defaulted properties with a starting bid of $1,125 and a deposit amount of $5,000 in its first-ever online auction May 28 through May 30.



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Jodi Meade Joins Avison Young

LOS ANGELES--The 29-year automotive properties expert joins the firm as principal tasked with developing and leading the firm's new automotive retail properties group.



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Industrial Landlord Performs Major Tenant Rehab

LOS ANGELES--Rock climbing company Sender One completes a 16-year lease transaction after the landlord agrees to raise the roof to 60 feet to accommodate 50-foot climbing walls, GlobeSt.com learns in this EXCLUSIVE story.



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NewMark Merrill Launches Retail Tech Co.

LOS ANGELES--BrightStreet Ventures' retail technology platforms serve shopping center owners and managers by testing brick-and-mortar locations prior to development or roll out, managing director Mark Sigal explains in this Q&A.



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Downsizing, Stores Function as Showrooms

LAS VEGAS--GlobeSt.com EXCLUSIVELY catches up with thought leader, Partner Engineering & Science Inc., to talk about a greater focus on sustainability in retail, and the trend of downsizing to smaller store, but in better urban areas.



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Westlake Plaza Renovation Attracts Tenants

WESTLAKE VILLAGE, CA--In the middle of a $25-million renovation, Westlake Plaza completes lease transactions with six new tenants for a total of 13,079 square feet.



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Medical Office Building Trades Hands

DOWNEY, CA--PIH Health acquires the Brookshire Medical Building, a 56,121-square-foot five-story building, for $11.3 million from an affiliate of WRA Property Management Inc.



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First Industrial Development Breaks Ground

WATTS, CA--The 42,000-square-foot Lanzit Industrial Park is the city's first ground-up industrial development in 40 years.



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Retailers Flock to Hollywood

LOS ANGELES--Driven to the market by the rise in multifamily development, Marshalls and PetCo lease a 39,000-square-foot building while YogaWorks signs on for 3,000 square feet at the Gershwin Apartments.



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Tech Jobs Drive Multifamily Rent Growth

CULVER CITY, CA--The recent sale of Keswick Court Apartments illustrates the rising rent growth and property values in the Culver City market, GlobeSt.com reports in this UPDATE to a previous story.



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All Nippon Airways Signs at Pacific Center

TORRANCE, CA--The Japanese air carrier completes a lease transaction with Bixby Land Co. for a 25,000-square-foot space at the newly renovated office building.



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Core Tenants Renew and Expand Leases

ALHAMBRA, CA--Eastern Los Angeles Regional Center and Platt College renew leases with the Ratkovich Co. for over 132,000 square feet of space at the Alhambra, a 45-acre mixed-use property.



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Santa Barbara Land Goes to Affordable

SANTA BARBARA, CA--GlobeSt.com EXCLUSIVELY learns that a 1.76-acre site here, originally slated to be an auto park, will soon become affordable senior housing, with groundbreaking expected in 2015.



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Riverside Office Sells for $1M

California Psychcare, Inc. purchased the Holstein Professional Building at 4300 Latham St. in Riverside, CA from private owners for $1 million, or about $80 per square foot. Built in 1986, the three-story office property totals 12,481 square feet and sits on 0.69 acres in the Riverside submarket. The facility was vacant at time of sale, but the buyer will occupy the second and third floors of the property, which total 8,321 square feet. Jennifer...



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8.8 Acre REO Land Sells for $3.6M

CT Realty Investors purchased the 8.8-acre lot at 15996 Jurupa Ave. in Fontana, CA for $3.6 million from ATC Realty One LLC in an REO sale following a foreclosure in 2012. The buyer plans to build an industrial building between 180,000 and 200,000 square feet there. The land is located at the northeast corner of Catawba Ave. in the Airport Area submarket of San Bernardino County. Thomas Taylor, Steven Bellitti, Summer Coulter, Joshua Hayes...



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United Furniture Renews 505,000-SF Lease in So Cal

United Furniture Industries, the exclusive U.S. manufacturer of Simmons upholstery, has renewed its 505,192-square-foot industrial lease at the 2,500-acre Southern California Logistics Centre (SCLC) in Victorville, CA. The company, which inked a three-year extension agreement, will expand with two new assembly lines at the site to meet increased demand, in a move expected to create an additional 50 jobs there over the next few months. United Furniture...



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CoStar's People of Note (May 4 - 10)

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: Houston, San Francisco, Baltimore, Salt Lake City, Indianapolis, Phoenix, New York City, Detroit, Chicago, and Los Angeles. HOUSTON CBRE Group Taps Mullen for Newly Created Position By Michael Stein Adam Mullen joined CBRE's industrial and logistics practice as...



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Fashion District Assets Land Ultra Low Rates

LOS ANGELES--A real estate investment group secures five permanent financing loans totaling $22 million for retail properties downtown at rates as low as 4%.



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Adam Eisenberg Named Bolour VP

LOS ANGELES--The privately owned real estate company recruits Eisenberg to lead acquisitions and joint-venture opportunities in California and southwest regions.



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Local Investor Takes Luxury MF in 1031 Exchange

CULVER CITY, CA--MWest sells Keswick Court Apartments, a 60-unit apartment complex with ample onsite amenities, to a family owner and operator.



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One Santa Fe Signs Anchor Tenant

LOS ANGELES--Grow Market signs a 5,300-square-foot lease at the mixed-use project under development in the arts district downtown, with an opening date expected in the fall 2014.



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HCP JV Has Positive Outlook

LONG BEACH, CA--According to a Q1 2014 report, HCP continues to underperform with slow investment activity, but the joint venture with Brookdale raises per-share expectations to $40.HCP JV Has Positive Outlook.



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Boutique Hotel Sources Capital for Renovation

LOS ANGELES--The Palihouse West Hollywood hotel secures $15 million in first mortgage financing to recoup after updating guest rooms, the lobby and common areas.



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CBRE Hires FHA Lending Head, Production

BOSTON--Steve Wendel, formerly with Berkeley Point Capital, gets the nod.



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Demand Increases for New Development

PASADENA, CA--Mack Urban's latest mixed-use project is supplying high development demand in the playhouse district, GlobeSt.com reports in this UPDATE to a previous story.



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Job Creation Speeds Up

LOS ANGELES--In the month of April, job growth accelerated in both private sectors and government, creating a total of 288,000 new jobs, specifically in business services and retail.



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$95M Warner Center Development Breaks Ground

LOS ANGELES--The Dinerstein Co. starts construction on Millennium Woodland Hills, an 827,544-square-foot multifamily development designed by Nadel Architects.



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Mack Urban JV Launches $50M Mixed-Use Project

PASADENA, CA--A joint venture between Mill Creek Development Co., Cigna Investment Management and Mack Urban breaks ground on a mixed-use development in the playhouse district.



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Berkadia Bridge Lending Targets Mixed-Use

SANTA MONICA, CA--Berkadia's Proprietary Bridge Lending Program arranges a $17.5-million, two-year floating-rate loan for a 40,000-square-foot property.



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Distressed Land Site Trades Hands

LONG BEACH, CA--Urban Pacific acquires a parcel of land downtown from a failed condo project with plans to build a 30-unit, transit-oriented multifamily property.



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LTC Properties Misses the Mark

LOS ANGELES--The REIT's Q1 2014 earnings missed estimates by $0.64 a share driven by high interest expense, according to the first quarter earnings report from RBC Capital Markets.



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Westside Office Building Fetches $39M

LOS ANGELES--Sunrise Real Estate Group joint venture acquires the six-story, 75% leased office building in an off-market deal, illustrating the recovering Westside office market.



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Two New Tenants Sign On at Topaz

SAN PEDRO, CA--Rockefeller Philanthropy Advisors and Blue Logistics sign leases at the newly completed Topaz, an 11-story, waterfront office building.



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Ryan Companies Promotes VP

PHOENIX--Rick Collins will manage all business development, people and operations for projects in the SouthWest region, which has offices in Phoenix, and San Diego.



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Boutique Grocery Stores Continue to Grow

LOS ANGELES--Family-owned health food mini-chain Lassen's Natural Foods and Vitamins signs a 12,000-square-foot lease at Wilshire La Brea, a new mixed-use property in Miracle Mile.



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AECOM Names Chief Strategy Officer

LOS ANGELES--Kevin Lynch joins the firm as EVP and chief strategy officer to focus on the company's global growth plan.



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Parkway Works to Fill Courvoisier Centre

MIAMI--The office buildings are currently 83.4% occupied. Find out who the firm chose to help lead the leasing charge at the trophy asset.



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Shoppes at Westlake Village Inks 10 New Tenants

WESTLAKE VILLAGE, CA--In-N-Out Burger, Tilly's and Olio e Limone are among the more than 10 new tenants to sign a combined 75,000 square feet in leases at the 240,000-square-foot outdoor shopping center.



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Storm Plaza Starts on Construction Phase II

LOS ANGELES--The 50,000-square-foot, CVS-anchored shopping center begins the second phase of construction, which includes a 4,250-square-foot Wells Fargo bank, GlobeSt.com reports in this UPDATE to a previous story.



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Riot Games Signs Second Office Lease

LOS ANGELES--After breaking records last year by signing a 284,000-square-foot lease at the Element LA Campus, Riot Games turns heads again signing a 77,000-square-foot lease at Kilroy's Westside Media Center.



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South Coast Communities Development Gets $19M

LOS ANGELES--Presidio Residential Capital invests in the 51-unit residential development on 3.6 acres on a former church and school grounds in Baldwin Park.



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Xceligent Launches New Data System CDX 9.0

LOS ANGELES--After 10 years in the making, Xceligent and AIR launch the research data system with in-depth information on office, industrial and retail properties in the L.A. basin.



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L.A. Ranks In Top Global Markets

LOS ANGELES--Industry experts on the Real Estate Opportunities panel at the Milken Institute Global Conference discuss the top gateway markets in the world and the emerging markets providing the best investment opportunities.



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Kilroy Same Store NOI Strong

LOS ANGELES--Kilroy Realty Q1 2014 earnings are healthy with strong investment spending while higher interest spending misses estimates by $0.02.



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Xceligent Launches New Data System CDX 9.0

LOS ANGELES--After 10 years in the making, Xceligent and AIR launch the research data system with in-depth information on office, industrial and retail properties in the L.A. basin.



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Amoeba Building Trades for Half Price

LOS ANGELES--Amoeba acquires the building for under $14 million, half the average value according to an industry source, via a repurchase agreement after a sale-leaseback transaction from 2009.



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Macerich Co.'s Q1 '14 Just Misses

LOS ANGELES--NOI falls short of estimates by $0.02, driven down by lower other income and percentage rent, with an FFO/share of $0.81.



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Indiegogo Exec Joins RE Crowdfunding Site

LOS ANGELES--Adam Chapnick, Indiegogo's first employee, joins the newly launched crowdfunding platform AssetAvenue as chief strategy officer.



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Oakwood Majorly Increases US Footprint with JV

LOS ANGELES--The $4-billion joint venture between Mapletree and Oakwood will increase Oakwood Worldwide's branded apartments in the US from 10 properties to 70, CFO Bill Foltz tells reporter Kelsi Maree Borland.



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Kilroy: It's Not Your Father's Office Space

IRVINE, CA--Ignoring Millennials' office preferences is a recipe for disaster, and successful CRE professionals recognize this, said Kilroy's John Kilroy Jr. at a recent IREM Orange County ICON event.



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First Private MF Complex Breaks Ground

VERNON, CA--Meta Housing Corp. breaks ground on the city's first-ever private multifamily development, a $12.8-million, 45-unit, affordable-housing complex.



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