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Monday, June 30, 2014

West Side Creative Office Asset Flies

LOS ANGELES--Archway Holdings Corp. acquires a 24,759-square-foot creative office building in an all-cash transaction with a one-day escrow from AIG.



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The Arbors Office Complex Trades Hands

THOUSAND OAKS, CA--Legacy Partners purchased the four-building, 275,329-square-foot office campus for approximately $50 million, according to industry sources unrelated to the deal, GlobeSt.com reports in this EXCLUSIVE story.



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Crowdfunding Is Here and Here to Stay

LOS ANGELES--The fundraising form, still in its early stages, continues to grow and gather momentum, and fraud shouldn't be a concern, said panelists at RealShare National Investment & Finance.



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Park Fifth Development Site Trades Hands

LOS ANGELES--Africa-Israel USA sells the 2.27-acre site located at the corner of Fifth and Olive Streets to MacFarlane Partners with plans to build a mid- to high-rise mixed-use complex, GlobeSt.com reports in this UPDATE to a previous story.



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Friday, June 27, 2014

Raymond Torto Retires from CBRE

LOS ANGELES--The global chairman of research and former global chief economist at CBRE will retire from the company on July 31 of this year.



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TruAmerica Multifamily Partners with Allstate

LOS ANGELES--The partnership launches a new investment platform and acquires a 1,500 unit multifamily portfolio from Berkshire Property Advisors for $229 million.



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CRE Execs: Inflation Is Here

LOS ANGELES--Labor and construction costs, in addition to the price of consumer goods, is rising, and this will have an impact on the commercial real estate industry, said panelists at RealShare National Investment & Finance.



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Goodwin Procter Names LA Chair Successor

LOS ANGELES--Dean Pappas takes over for founding partner Lew Feldman as chair of the Los Angeles office, overseeing the 35-attorney L.A. outpost.



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Thursday, June 26, 2014

Dupont Business Center Trades Hands

LOS ANGELES--Rexford Industrial acquires the 110,890-square-foot, 5.7-acre industrial facility for $10.2 million, making it the company's 10th acquisition this year.



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Palisades Mexico Partners Close $50M Fund

LOS ANGELES--The private capital fund targeting Latin American foreign investors closes and acquires its first property, a 121,143-square-foot office property, GlobeSt.com reports EXCLUSIVELY .



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Crenshaw Plaza Mall Lands $75M

CRENSHAW, CA--The 860,000-square-foot retail complex secured the structured financing after completing nearly $40 million in renovations.



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Lending Space Is Extremely Competitive

LOS ANGELES--With an abundance of capital chasing deals and would-be investors galore, those in the finance arena are looking for ways to differentiate themselves and specialize, say panelists at RealShare National Investment & Finance.



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Wednesday, June 25, 2014

Avalon West Hollywood Breaks Ground

LOS ANGELES--The 370-unit mixed-use property from AvalonBay will offer 77 affordable housing units and 32,300 square feet of retail space.



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One Santa Fe Launches Leasing Efforts

LOS ANGELES--In preparation for its September opening, the arts district mixed-use complex opens a leasing center and signs two new retail tenants, a hair care apothecary and an ice cream shop.



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Tuesday, June 24, 2014

Six Ink Union Bank Tower Leases

LOS ANGELES--KBS REIT II signs new leases and lease extensions at its downtown high rise totaling 72,717-square-feet, bringing the building's occupancy to 97%.



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Tech Co. Moves Corporate Headquarters

HAWTHORNE, CA--ThinKom signs a 74,716-square-foot lease at OceanGate Business Park to relocate its headquarters, including office, testing and light assembly, from Torrance, CA.



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AECOM Capital Masters Fund Model

LOS ANGELES--In just over a year, AECOM Capital employs nearly $150 million in capital utilizing a fund model as to invest in commercial real estate opportunities, the company's President John Livingston tells GlobeSt.com in this EXCLUSIVE interview.



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Monday, June 23, 2014

Bixby's $25M Office Reno Comes Online

EL SEGUNDO, CA--The five-story 114,176-square-foot office complex will target creative and progressive tenants moving into the South Bay market.



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Long Beach Port Named World's Greenest

trucks, green flag vessel speed reduction and technology advancement earn it the title of "Best Green Seaport."



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Multifamily Portfolio Gets $25M Refi

LOS ANGELES--The borrowers, a group of local investors, plan to use the proceeds from the Fannie Mae credit facility to fund future investments.



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Friday, June 20, 2014

Crowdfunding Moves Toward Mainstream

LOS ANGELES--Adam Hooper RealCrowd CEO and panelist at RealShare Investment and Finance talks about trends in the crowdfunding market and the legislative issues that make it a challenge.



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L.A. Harbor Waterfront Project Opens

SAN PEDRO, CA--AECOM's Vaughn Davies talks to GlobeSt.com reporter Kelsi Maree Borland about the highly anticipated community development project at the L.A. Port, which opens today.



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Hong Kong Office Moves for $700M

HONG KONG--A 21-story class A office buidling, East Tower at One Bay East, was purchased by Citi from Wheelock Properties.



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Cross Campus Plans Major Expansion

PASADENA, CA--The on-demand co-working provider builds a 16,000-square-foot facility in Pasadena at Rising Realty's recently purchased property.



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Thursday, June 19, 2014

NSB Invests $20M in Creative Campus

EL SEGUNDO, CA--Located within the 12-acre Utah Avenue Campus, the 200,000-square-foot former Xerox manufacturing facility is now completely redeveloped with glass-paneled walls, ample parking and 17-foot ceiling heights.



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Kilroy Reveals Hollywood Mixed-Use Plans

LOS ANGELES--The developer plans a 475,000-square-foot mixed-use office campus on the site the former Academy of Motion Pictures Arts and Sciences site on Sunset and Vine.



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DealPoint Merrill Targets Redevelopment Properties

LOS ANGELES--DealPoint buys two shopping center properties in Ohio and Michigan and a self-storage facility in Arizona totaling 325,500 square feet.



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Wednesday, June 18, 2014

Glaser Weil Gains Partner

LOS ANGELES--Elisa L. Paster joins the firm as a partner in the government and regulatory law practice group where she will represent developers and landowners in land use and entitlement issues.



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23 Entitled Acres Trade Hands

LOS ANGELES--CT Realty Investors acquires the site from a joint venture between Trammell Crow and affiliates of Westport Capital Partners for nearly $13 million.



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99-Cent Store Signs Largest Lease Ever

LOS ANGELES--The discount retailer inks an industrial lease at Garfield Corporate Center for a 615,000-square-foot, 27.5-acre facility and plans to add 30,000-square-feet of executive office that will house 300 employees.



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Tuesday, June 17, 2014

Young Tech Entrepreneurs Fill Office Market

LOS ANGELES--Jon Azulay, Real Estate Forum's "SoCal Tomorrow's Leaders," says the office market is becoming a ripe environment for young startup companies to lay roots.



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$100M Condo Development Planned Downtown

LOS ANGELES--Trumark Urban acquires entitled land in South Park for a 24-story, 151-unit condominium development at W. 11th Street and S. Grand Avenue.



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Developer Snatches 18 Zoned-Industrial Acres

POMONA, CA--Overton Moore Properties plans to a 240,000-square-foot build-to-suit facility for Graybar Electric Co. on the site with estimated delivery in January 2015.



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Monday, June 16, 2014

Colony Financial Prices $75 million of Stock

LOS ANGELES--The real estate investment trust prices 3 million shares of 7.5% series B cumulative redeemable perpetual preferred stock with a liquidation of $25 per share.



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CBRE Recruits Eric Hasserjian

LOS ANGELES--Hasserjian joins the real estate services firm as managing director of asset services for the Los Angeles region, overseeing 35 million square feet.



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ASB Invests $62M for Warehouse Redevelopment

LOS ANGELES--The firm buys a five warehouses in the arts district for $32.5 million and plans to invest an additional $30 million to develop a 125,000-square-foot retail center with a 430-stall parking structure.



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Friday, June 13, 2014

Deloitte Inks Gas Co. Tower Lease

LOS ANGELES-- Brookfield completes an 113,000-square-foot lease with the professional services organization, bringing the building's occupancy to 80%.



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CIM and Federal Realty Lease Up Retail Site

LOS ANGELES--Marshalls and retailer La La Land lease 100% of the space at the 61,400-square-foot retail development on the corner of Hollywood Blvd. and Orange Ave.



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Expiring GSA Leases Sparks New Program

LOS ANGELES--With more than 1.5 million square feet of federal leases up for expiration in the next two years, the GSA brings AAAP, an online platform designed to ease the application process for landlords seeking federal/GSA tenants, to Los Angeles, Joe Brennan tells GlobeSt.com in this Q&A.



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Thursday, June 12, 2014

Entitled Land Attracts Major Competition

AGOURA HILLS, CA--Raven Ridge Development acquires the one-acre land parcel, totaling 42,985 square feet, with plans to build 18 townhomes.



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New Fund Targets Latin American Investors

LOS ANGELES--Palisades Mexico Partners launches the Palisades Private Capital Fund I aimed at Mexican investors who are experiencing increased liquidity due to the recent formation of Mexican REIT FIBRA.



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Music Co. Signs Year's Largest Office Lease

WOODLAND HILLS, CA--Universal Music Group completes a lease transaction with Hines for 146,636 square feet of space on four floors of the LNR Warner Center.



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Wednesday, June 11, 2014

National City Tower Comes to Market

LOS ANGELES--Charles Dunn Co. lists the historic 93-unit, 12-story adaptive reuse building for $45 million with a cap rate of 4.7% on behalf of owners National City Towers LLC.



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Charter School Build Gets $28M in Tax Credits

LOS ANGELES--ExED receives funds from the recent New Market Tax Credits allocation to build a charter school for low-income students in under-served communities in Southern California.



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Commercial Banks Staying Competitive with CMBS

LOS ANGELES--RealShare Investment and Finance CMBS panel moderator Gary M. Tenzer talks to Kelsi Maree Borland about the CMBS market, explaining that it has yet to reach pre-recession status.



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Ricon Moves Headquarters to SFV Business Center

SAN FERNANDO VALLEY, CA--The transit manufacturer signs a 65,347-square-foot lease with Liberty Property to relocate its headquarters from Panorama City, CA.



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Tuesday, June 10, 2014

Camden Drive Retail Property Trades Hands

BEVERLY HILLS, CA-- North Camden Properties acquires the building occupied by Gucci, Prada and Engel & Volkers for $12 million in an off-market transaction.



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Renovated MF Complex Fetches $22M

PANORAMA CITY, CA--A private investor purchases a 201-unit apartment complex in a low vacancy and limited supply market that is currently generating below-market rents.



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Yields Coming Down for Class-A Assets

LOS ANGELES--Capital markets experts at Marcus & Millichap's second annual Multifamily Forum say that yields are getting crushed in class-A markets, but that could be good news for developers.



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Monday, June 9, 2014

Arc Capital and Columbia Pacific Joins Forces

LOS ANGELES--The two firms form a strategic partnership to pursue value-add investment opportunities and tap the millennial market throughout the western US.



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Goodman's $146M Industrial Project Unfolded

RANCHO CUCAMONGA, CA--Goodman Birtcher CEO Brandon Birtcher tells Kelsi Maree Borland about the company's choice to build a 1.6 million development in Rancho Cucamonga, the firm's low-leverage philosophy and the other projects planned for Southern California, GlobeSt.com reports in this UPDATE to a previous story.



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Best Projects Have a Story, Developers Say

LOS ANGELES--At the Marcus & Millichap Southern California Multifamily Forum, developers say that the most compelling projects are those that offer the full package.



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Friday, June 6, 2014

EPTDesign Reimagines USC Landmark

LOS ANGELES--The landscape design company completes a garden setting for the Archdiocese of Los Angeles at the University of Southern California's north campus.



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Thursday, June 5, 2014

CA Redevelopment Agency Completes Final Project

COMPTON, CA--The last development project to be funded through bonds from the California Redevelopment Agency, the Compton Community Center holds its official grand opening.



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Mercedes Builds 1.1M SF Regional Facility

LONG BEACH, CA--Formerly occupied by Boeing, the facility will serve as Mercedes Benz USA's Western Region vehicle preparation center and learning and performance center.



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Ashley Furniture Debuts 50,000-SF Store

LOS ANGELES--The Hodgdon Group completes construction of the former FAMSA building, marking the completion of the development firm's 19th Ashley Furniture store.



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Wednesday, June 4, 2014

Transwestern Expands Capital Markets Team

LOS ANGELES--Josh Swartz and Josh Kaplan join the firm's capital markets team as SVPs to focus on multifamily investment sales and development in Southern California.



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Office Sector Still Struggling

LOS ANGELES--The latest office market reports show the sector is down 16.4% from the previous quarter, largely due to poor job growth and the trend toward smaller, open-format office spaces.



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Fashion District Next for Revitalization

LOS ANGELES--The two-acre City Market South begins construction on a multi-million dollar renovation project, the first phase of the 10-acre City Market of Los Angeles mixed-use development.



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New Found Capital Expands Retail Role

LOS ANGELES--Locally based Brandi Popovich, recruiting professional at RETS Associates, EXCLUSIVELY tells GlobeSt.com that as more directors of development and managers of investment are being placed at retail firms of all sizes, the roles and responsibilities are expanding.



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Tuesday, June 3, 2014

Rexford Industrial Gains Nearly 1M SF YTD

LOS ANGELES--The public investment trust acquires two properties, one in Crescent Bay and another in San Fernando, totaling 176,978 square feet for $21.9 million.



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Maura Hudson Joins JLL Marketing

LOS ANGELES--Named SVP of marketing and corporate solutions, Hudson tells GlobeSt.com how marketing is important and effective to the CRE world in this EXCLUSIVE Q&A.



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Monday, June 2, 2014

Shoreline Square Launches Leasing Efforts

LONG BEACH, CA--JLL will handle the leasing efforts for the 20-story, 400-square-foot office tower that Parallel Capital Partners purchased in April for $101 million, GlobeSt.com reports in this EXCLUSIVE story.



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Triple-Net Leased Industrial Trades Hands

NEWBURY PARK, CA--A private investor wins the acquisition of a fully leased 58,825-square-foot industrial facility with three buildings in a sale that drew strong investor attention.



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Fallbrook Shopping Center Moves for $210M

LOS ANGELES--The diverse mix of tenants, location and market position were the primary reasons Retail Opportunity Investments Corp. was attracted to the 1.12-million-square-foot center.



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Big Challenges for Landlords Seeking Grocers

COVINA, CA--Stater Bros. Supermarket signs a 15-year lease at Grand-Covina Plaza after the 42,000-square-foot anchor space sat empty for two years due to instability of traditional grocers.



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Sunday, June 1, 2014

DivcoWest Buys Continental Grand 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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