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Monday, November 30, 2015

Primestor Likes Panorama Mall’s Hispanic Demographics

LOS ANGELES—In an off-market transaction, Primestor buys the Panorama Mall, following their business strategy of investing in Hispanic communities, where they say yields are better.



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Auto Is Rocking the Retail Market

LOS ANGELES—With widely strong auto sales making a big impact on the retail market, we sat down with Jodi V. Meade of Avison Young to find out about the niche sector in this EXCLUSIVE interview.



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DTLA Retail Trends Way Above Nation

LOS ANGELES—While national retail reports are showing flat or nominal sales for the third quarter, Downtown Los Angeles reports $2.8 billion in retail sales.



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Wednesday, November 25, 2015

USC Defeats UCLA in Annual CRE Challenge

LOS ANGELES—USC takes home the Silver Shovel award at the annual NAIOP Real Estate Challenge after presenting an urban park with housing, retail and hospitality for the former Hawthorne indoor shopping mall.



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Solving the “Dirty Secret” of Crowdfunding

LOS ANGELES—The crowd and institutional investors seem at odds, but in this EXCLUSIVE story, Patch of Land’s Jason Fritton, explains how he found a way for them to coexist.



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West Coast Based Emerging Leaders

LOS ANGELES—The following west coast-based individuals, who were recently featured in Real Estate Forum, show initiative and willingness to work hard—two of the traits necessary to be an emerging leader.



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Holding Through the Downturn

LOS ANGELES—Granite Peak purchased an industrial property in 2007 with a three-to-five-year business plan; eight years later, they are finally turning a profit.



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Tuesday, November 24, 2015

Grocery Rules Single-Tenant NNN

LOS ANGELES—Sands Investment Group sells four big-box grocery assets for nearly $50 million, showing that investors are willing to take on the risk of big box for a grocery tenant, GlobeSt.com reports EXCLUSIVELY.



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First, Find the Upleg

LOS ANGELES—With properties in the highly sought-after Koreatown neighborhood, the key to closing this complicated 1031 multifamily exchange, totaling $64.2 million, was to find the upleg first.



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Monday, November 23, 2015

RealtyMogul.com Shows Its Command of the Capital Stack

LOS ANGELES—For the first time, RealtyMogul.com completes a full capital stack transaction, combining debt and equity financing for the purchase of a 112-unit apartment complex.



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Blackstone Adds to Growing MF Holdings

NEW YORK CITY—The private equity giant has picked up a 16-propery portfolio with assets on the West Coast and in Florida.



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Looking for Growth? Go East, Young Developer

SAN BERNARDINO, CA—Because that’s where the Inland Empire holds the most expansion promise, according to the experts of Xceligent.



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Paragon, Canyon Bullish on Daily Needs Retail

LOS ANGELES—Paragon and Canyon Capital launch a second retail fund to invest $60 million to $100 million in daily needs retail product throughout California.



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Friday, November 20, 2015

Developer Finds the Environmental Win-Win

LOS ANGELES—The Ruth Group understands the importance of environmentally sustainable design, and found a way to accomplish it without an expensive LEED certification.



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The Largest Century City Lease in a Decade

LOS ANGELES—IPG signs an 11-year 150,000-square-foot office lease at the Plaza in Century City, becoming the largest tenant in the building with eight full floors and building signage.



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No Longer a Renting Stigma

LOS ANGELES—The idea that you can rent what you want for convenience and for quality has been more prolific, say multifamily experts.



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Thursday, November 19, 2015

Luxury Home Sales Spike Around L.A.

LOS ANGELES—Home sales increase 94% in the Pacific Palisades and nearly 50% in other Los Angeles luxury markets, but the average selling price has also declined.



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RealtyTrac: Average Earners May Be Priced Out of Zip Codes with Good Schools

IRVINE, CA—Los Angeles among most in unaffordable zip codes with good schools, while Chicago, Detroit and Miami among those with the most affordable.



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IRG Finalizes Pfizer Campus Sale-Partial Leaseback

PEARL RIVER, NY—The sale of the Pfizer campus here to Industrial Realty Group, LLC closed on Wednesday. The Los Angeles, CA-based company states its plan for the 200 acres it acquired will result in a “dynamic mixed-use, multi-tenant campus.”



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How Does Orange County Stack up Against L.A.?

SANTA ANA, CA—The two markets are behaving much alike in this phase of the upcycle, according to Xceligent analysts. But there are marked differences.



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Wednesday, November 18, 2015

Retail Pushes Forward Despite Flat Sales

LOS ANGELES—The 3Q15 retail report from Lee & Associates shows declining vacancies in major markets and strong investment activity, despite flat retail sales for the quarter.



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Metropolis Drives DTLA Condo Pricing Way Up

LOS ANGELES—The opening of Metropolis tower II, which released 514 condo units onto the market, shoots condo prices to $803 per square foot, the highest price ever.



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Tuesday, November 17, 2015

Demand Soars for Limited-Service Hotels

LOS ANGELES—A hotel developer buys a five-acre land site along the 101 corridor to build two limited-service hotels to benefit from the strong demand, GlobeSt.com reports EXCLUSIVELY.



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RealtyMogul.com Funds Brennan Deal in Houston

LOS ANGELES—The two-building flex portfolio marks the third transaction with Brennan Investment Group; RealtyMogul.com CEO Jilliene Helman cites Brennan’s “extensive experience investing in industrial properties.”



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Carter’s Bob Peterson Sees These Opportunities

ATLANTA—As chairman and CEO OF Carter, Bob Peterson has seen plenty of opportunities and challenges. Here's what he's seeing now.



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Has Long Beach Been Overlooked?

LOS ANGELES—Downtown Long Beach has a waterfront, public transit, great restaurants and residential development. It is a live-work-play environment in the making, and office investors are taking note.



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How Does Orange County Stack up Against L.A.?

SANTA ANA, CA—The two markets are behaving much alike in this phase of the upcycle, according to Xceligent analysts. But there are marked differences.



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Monday, November 16, 2015

DTLA Office Tenants Renew Years Early

LOS ANGELES—Although the downtown market is still seeing double-digit vacancy rates, some tenants are renewing office leases years early in anticipation of tightening vacancy rates and higher rents.



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So Many Buyers in Net Lease Space

LOS ANGELES—Whether it is 1031 capital, a small private investor, institutional money or a Chinese investor, panelists at RealShare Net Lease West say there is lots of money interested in the net lease space.



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More Interest in Build to Suits

LOS ANGELES—Speakers on the Town Hall Power Panel at RealShare Net Lease West say that build to suits are getting priced to incorporate some of the risk now more so than they had been years ago.



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Why Camden Vetoed a Locker System

LOS ANGELES—Camden Property Trust looked into a locker system for years before deciding to forego package delivery service at their multifamily properties, GlobeSt.com learns EXCLUSIVELY.



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Students Rejoice: Ramen Noodle Producer Expands in Meadows

CARLSTADT, NJ—Students who save a few shekels feasting on ramen noodles can rest easy about the noodle supply in Northern New Jersey. Sun Noodle, maker of custom-made, authentic Japanese-style ramen noodles and related products, has purchased a 42,000-square-foot industrial building at 40 Kero Road in Carlstadt.



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Can L.A. Be Too Successful?

LOS ANGELES—As it is apparently all over the nation, industrial is hot in L.A., so hot, in fact, that some developers and investors might be left out in the cold.



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Friday, November 13, 2015

Rents Push Retailers to the Fringe

LOS ANGELES—Retail tenants are leasing up fringe-street locations in markets like Beverly Hills and Santa Monica, a trend that typically happens in peak market conditions, GlobeSt.com reports EXCLUSIVELY.



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A Closer Look at Net Lease Investment

LOS ANGELES—Private investors should approach the risk adjusted returns the way they would approach a stock portfolio, said one panelist at RealShare Net Lease West on Thursday, in looking at private investors versus those who are IRR focused.



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Net Lease Panel: Is 2015 the New 2008?

LOS ANGELES—2015 is likely to exceed 2007 peak sales volume and panelists at this year’s RealShare Net Lease West conference say that in looking at CMBS, originations and underwriting stats, 2015 will be the new 2008.



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The Current Adds Roof, Nears Completion

LONG BEACH, CA—City leaders and developers gather to celebrate the “topping off” ceremony at the Current, Long Beach’s first new luxury apartment complex in decades.



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Thursday, November 12, 2015

Lincoln Sells 800 Wilshire Early

LOS ANGELES—Lincoln Property Co. completes its four-year redevelopment plan of the 227,000-square-foot office building in two years, and sells to the Onni Group.



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USC Launches Undergrad CRE Degree

LOS ANGELES—Commercial real estate has matured into its own investment class, and the future leaders need an interdisciplinary education to achieve success, according to the head of USC’s new undergrad program.



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Apply More Hotel Thinking to Multifamily

LOS ANGELES—Speakers at a recent event here encourage designers and developers to apply the attitude that you have one night to get it right on the multifamily side.



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Wednesday, November 11, 2015

How Are Retailers Adapting to Density?

LOS ANGELES—In response to increasing density, L.A. retailers are now opening multiple locations in a single submarket to capture market share and control the flow of traffic, GlobeSt.com reports in this EXCLUSIVE interview.



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People Want to Be in Hollywood

LOS ANGELES—Move over Downtown. Hollywood is experiencing its own renaissance and it is attracting employers and residents from all over the city, GlobeSt.com reports EXCLUSIVELY.



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Tuesday, November 10, 2015

Marcus & Millichap Creates Chief Administrative Position

LOS ANGELES—Gregory LaBerge is promoted to chief administrative officer, the Mission Square office building trades hands for nearly $40 million and a major retail center in Honolulu secures $39 million in financing in this week’s wrap-up of deals.



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Monday, November 9, 2015

Is Airbnb Affecting the L.A. Hotel Market?

LOS ANGELES—With massive development and rising revPAR in Los Angeles, the hotel market seems to be doing just fine, despite the fear of Airbnb, GlobeSt.com reports in this EXCLUSIVE story.



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Borrowers Hurry to Lock-In Financing

LOS ANGELES—Even borrowers without a stable cash flow are locking in long-term loans to avoid a possible rise in interest rates, GlobeSt.com reports EXCLUSIVELY.



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Lux Living Amenities Come to the Office

LOS ANGELES—With a new survey showing that employees are having trouble keeping up with the second shift, Caruso Affiliated launches a corporate concierge service in its office to help employees better balance work and life.



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Friday, November 6, 2015

Corp. Client Data Gets a Tech Boost

LOS ANGELES—JLL makes a significant investment in technology, and shows that market knowledge is taking a backseat to tech savvy, GlobeSt.com reports in this UPDATE to a previous story.



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SoCal’s Hot Office Market Hits Cerritos

CERRITOS, CA—With access to Orange County and Los Angeles, the mid-counties submarket is seeing the benefits of the SoCal office boom, GlobeSt.com reports in this EXCLUSIVE story.



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Thursday, November 5, 2015

Venture Capital Soars in L.A.

LOS ANGELES—By mid-year, the city saw $1.2 billion in venture capital placements, and the money is continuing to flood in, GlobeSt.com reports in this EXCLUSIVE Q&A.



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Drones Help CRE Reduce Costs, Add Flexibility

LOS ANGELES—With every advancement in software and hardware, we're able to disseminate information and messages more rapidly, more efficiently and more precisely, says one source in this EXCLUSIVE commentary on the subject of CRE technology.



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The Solution to the Package Problem

LOS ANGELES—Luxer One isn’t just installing lockers in buildings; the company’s technology platform is helping landlords solve the package problem—and occupancies are up as a result.



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Wednesday, November 4, 2015

Pressure Softens on Net Lease Cap Rates

LOS ANGELES—In this EXCLUSIVE Net Lease West sneak-peek interview, Gino Sabatini of W. P. Carey talks about the evolving net lease space and offers some critical advice to investors.



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Lifestyle Tenants Define DTLA Retail

LOS ANGELES—Three new leases at Level DTLA illustrate that landlords aren’t just taking any tenant—they are shaping the retail landscape in the downtown market.



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Tuesday, November 3, 2015

CBRE Loses Major Player

LOS ANGELES—Curtis Palmer joins ARA Newmark as the head of multihousing investment advisory in Southern California, citing the company’s “entrepreneurial” environment as a cause for the change.



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Build Apartments or Condos? That is the Question

LOS ANGELES—One of the major things to consider when looking at developing a condo or multifamily property, according to sources, is parking.



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Steadfast REIT Tops $1 Billion in Assets

CHICAGO—The CA-based trust has quickly assembled a massive portfolio of apartment units, most of which are in either the Midwest or the South.



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Life Cos. and CMBS Battle It Out

LOS ANGELES—CMBS wins a $42.7 million loan to refinance the Samaritan Medical Tower, but life companies gave strong competition for the deal.



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Monday, November 2, 2015

AssetAvenue Names New CEO

LOS ANGELES—The company’s co-founder David Manshoory steps down as CEO and names CIO Varun Pathria as his successor.



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New $300M Fund to Finance Energy Projects

LOS ANGELES—Fund includes custom program for IBEW/NECA Net Zero Plus energy solutions projects.



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DoE Revamps Asset Score As It Comes Out of Soft Launch

WASHINGTON, DC—The Energy Department is also in the process of putting together a Leadership Group for this next stage, Andrew Burr tells GlobeSt.com's Erika Morphy EXCLUSIVELY.



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100-Year-Old Mixed-Use Building in Financial District Trades for $78M

BOSTON—An affiliate of DLJ Real Estate Partners has acquired the storied 18 Tremont St. mixed-use building in the Financial District for $77.5 million from Equus Capital Partners, Ltd. of Yardley, PA. The deal calculates out to approximately $384-a-square-foot and was $28 million higher than the last time the building changed hands.



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Is the Bullet Train a $60B Fantasy?

LOS ANGELES—Maybe, according to Ben Reznik of Jeffer Mangels Butler & Mitchell, who talks about the issues with the project in this EXCLUSIVE story.



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