One Eleven Town Center Adds Two Anchors

Whole Foods Market and Nordstrom Rack have both signed new leases in the One Eleven Town Center shopping center at Town Center Way and Highway 111 in Palm Desert, CA. The regional power center is located across from Westfield Shoppingtown Palm Desert. The property totals approximately 152,413 square feet and was developed in 1987. Portland-based Harsch Investment Properties will be demolishing the now vacant Best Buy and Banner Mattress buildings...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/One-Eleven-Town-Center-Adds-Two-Anchors/142845?ref=/News/Article/One-Eleven-Town-Center-Adds-Two-Anchors/142845&src=rss

Invesco Nabs Industrial Asset for $27M

LA MIRADA, CA-GlobeSt.com learns exclusively that Georgia-based La Mirada Realty LLC has sold the 278,000-square-foot building.

via Los Angeles http://www.globest.com/news/12_470/losangeles/industrial/-326429.html

Pacific Trust Renews, Expands Headquarters in Irvine Towers

Pacific Trust Bank expanded its corporate headquarters by an additional 21,000 square feet for a total lease commitment of nearly 63,000 square feet in The Irvine Cos' Irvine Towers office complex at 18500 Von Karman Avenue in Irvine, CA. The bank was represented by David Giglio and Lori Smith in Transwestern's Orange County office. The building owner was represented in-house by The Irvine Co.'s Mike Hodges.



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Pacific-Trust-Renews-Expands-Headquarters-in-Irvine-Towers/142869?ref=/News/Article/Pacific-Trust-Renews-Expands-Headquarters-in-Irvine-Towers/142869&src=rss

HQ News: Spending for New Global Headquarters Better Spent Elsewhere

Diebold Inc. is suspending indefinitely its plans to construct a new global headquarters facility in the Akron/Canton, OH, region. The company is instead focusing its resources and strategic direction on generating long-term, sustainable growth, using its assets to capitalize on acquisitive opportunities and invest in technologies and services that will help grow the business. The company said it has no plans to pursue new construction options...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/HQ-News-Spending-for-New-Global-Headquarters-Better-Spent-Elsewhere/142850?ref=/News/Article/HQ-News-Spending-for-New-Global-Headquarters-Better-Spent-Elsewhere/142850&src=rss

Astani Plans $100M Complex on Hollywood Boulevard

LOS ANGELES-The Los Angeles Times reported that Sonny Astani, a commercial real estate developer, is planning for a $100-million mixed-use development on Hollywood Boulevard.

via Los Angeles http://www.globest.com/news/12_469/losangeles/multifamily/Astani-Plans-100M-Complex-on-Hollywood-Boulevard-326445.html

HQ News: Spending for New Global Headquarters Better Spent Elsewhere

Diebold Inc. is suspending indefinitely its plans to construct a new global headquarters facility in the Akron/Canton, OH, region. The company is instead focusing its resources and strategic direction on generating long-term, sustainable growth, using its assets to capitalize on acquisitive opportunities and invest in technologies and services that will help grow the business. The company said it has no plans to pursue new construction options...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/HQ-News-Spending-for-New-Global-Headquarters-Better-Spent-Elsewhere/142850?ref=/News/Article/HQ-News-Spending-for-New-Global-Headquarters-Better-Spent-Elsewhere/142850&src=rss

MOB Operations Outperform General Office

CALABASAS, CA-Marcus & Millichap's Al Pontius tells GlobeSt.com that the panel he is moderating for RealShare Medical Office Buildings next week will cover the capital investment environment for MOBs.

via Los Angeles http://www.globest.com/news/12_469/losangeles/medical_office/-326410.html

EVOQ Sells Union Lofts

LOS ANGELES-EVOQ Properties sells the downtown asset containing 92 luxury apartments and a one-acre development site.

via Los Angeles http://www.globest.com/news/12_468/losangeles/acquisitions_dispositions/-326409.html

First Industrial Responds to Competition for Investments

CHICAGO-During Q3, First Industrial Real Estate Trust invested more than $200 million in more than one million square feet. Increased competition may drive the REIT toward development or value-add plays.

via Los Angeles http://www.globest.com/news/12_468/chicago/reit/First-Industrial-Responds-to-Competition-for-Investments-326391.html

Holland Partners Pays $15M for Mixed-Use Site

GLENDALE, CA-GlobeSt.com learns exclusively that the city gives Holland "generous zoning" for development of the 1.38-acre site downtown.

via Los Angeles http://www.globest.com/news/12_468/losangeles/acquisitions_dispositions/-326355.html

Market Trend: Inland Empire's Retail Vacancy Decreases to 8.8%

The Inland Empire retail market did not experience much change in market conditions in the third quarter 2012. The vacancy rate went from 8.9% in the previous quarter to 8.8% in the current quarter. Net absorption was positive 233,311 square feet, and vacant sublease space decreased by 88,207 square feet. In second quarter 2012, net absorption was negative 273,001 square feet. Tenants moving into large blocks of space in 2012 include: T...



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-88/142801?ref=/News/Article/Market-Trend-Inland-Empires-Retail-Vacancy-Decreases-to-88/142801&src=rss

CoStar's People of Note (Oct. 21-27)

This week's People of Note includes the following markets: Boston, Chicago, Northern New Jersey and New York City. BOSTON Hughes Joins JLL Boston as Capital Markets Leader By Laurie Forbes Jones Lang LaSalle bolstered its capital markets platform by adding Jessica Hughes as its managing director in Boston. She will serve as capital markets leader and oversee JLL’s New England investment sales team. Hughes is a global invest



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/CoStars-People-of-Note-Oct-21-27/142778?ref=/News/Article/CoStars-People-of-Note-Oct-21-27/142778&src=rss

10.3-Acre Ontario Lot Sells For $3.1M

GM Ontario Investment LLC has sold the 10.32-acre lot located at the southwest corner of S. Haven Ave. and E. Riverside Dr. in Ontario, CA to Premier Investment Enterprises, Inc. for $3,146,000. The buyer is an investor who plans to hold the land for future development opportunities. The lot is zoned SP-NC/OS/R according to County Assessor records. Jason Chao and Cannon Chang of CBRE represented the seller. Peter Loh of RE/MAX Realty 100 represented...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/103-Acre-Ontario-Lot-Sells-For-$31M/142259?ref=/News/Article/103-Acre-Ontario-Lot-Sells-For-$31M/142259&src=rss

Chino Industrial Acquired For $5.1M

SBC Enterprise LLC purchased the industrial building at 13900 Sycamore Way in Chino, CA for $5,126,500, or about $78 per square foot, from a private trust. The buyer will be operating its DVD manufacturing business at the subject property. Built in 1986, the building totals 65,837 square feet on 4.8 acres located east of Oaks Ave., between Schaefer and Edison Avenues. Mark Kegans and Ron Washle of Newmark Grubb Knight Frank represented the...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Chino-Industrial-Acquired-For-$51M/142258?ref=/News/Article/Chino-Industrial-Acquired-For-$51M/142258&src=rss

Market Trend: Inland Empire's Industrial Vacancy Increases to 7.6%

The Inland Empire Industrial market ended the third quarter 2012 with a vacancy rate of 7.6%. The vacancy rate was up over the previous quarter, with net absorption totaling negative 601,491 square feet in the third quarter. That compares to positive 1,474,474 square feet in the second quarter 2012. Vacant sublease space increased in the quarter, ending the quarter at 1,001,853 square feet. Tenants moving into large blocks of space in...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Market-Trend-Inland-Empires-Industrial-Vacancy-Increases-to-76/142543?ref=/News/Article/Market-Trend-Inland-Empires-Industrial-Vacancy-Increases-to-76/142543&src=rss

CoStar's People of Note (Oct. 14-20)

This week's People of Note includes the following markets: Kansas City, New York City, Northern New Jersey, Philadelphia, South Florida, Tampa/St. Petersburg and Washington, DC. WASHINGTON, DC Cresa Adds 2 Veteran Reps to DC Team By Laurie Forbes Cresa expanded its local offerings with the hiring of two tenant advisers. Industry veterans Mindy Saffer (pictured far left), LEED AP was named managing principal and Lucy Wadeson, LEED GA was



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/CoStars-People-of-Note-Oct-14-20/142524?ref=/News/Article/CoStars-People-of-Note-Oct-14-20/142524&src=rss

Big Bear Lake Industrial Sells for $1.1M

First Mountain Bank sold the industrial building at 41922 Fox Farm Rd. in Big Bear Lake, CA to a private investor for $1.1 million, or about $61 per square foot. Built in 2005, the warehouse property totals 18,000 square feet on 1.1 acres at the northwest corner of Fox Farm and Big Bear Blvd. in San Bernardino County. Eric Lewis of Premier Properties Sotheby's International Realty represented the seller. Tyler Wood of Coldwell Banker Mountain...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Big-Bear-Lake-Industrial-Sells-for-$11M/142256?ref=/News/Article/Big-Bear-Lake-Industrial-Sells-for-$11M/142256&src=rss

Market Trend: Inland Empire's Retail Vacancy Decreases to 8.8%

The Inland Empire retail market did not experience much change in market conditions in the third quarter 2012. The vacancy rate went from 8.9% in the previous quarter to 8.8% in the current quarter. Net absorption was positive 233,311 square feet, and vacant sublease space decreased by 88,207 square feet. In second quarter 2012, net absorption was negative 273,001 square feet. Tenants moving into large blocks of space in 2012 include: T...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Market-Trend-Inland-Empires-Retail-Vacancy-Decreases-to-88/142801?ref=/News/Article/Market-Trend-Inland-Empires-Retail-Vacancy-Decreases-to-88/142801&src=rss

CoStar's People of Note (Oct. 21-27)

CHICAGO Cushman Names Morris Leader, Industrial Services By James Bryan Cushman & Wakefield promoted John Morris to leader of industrial services for the Americas. He will take over the position in January of next year. Morris joined Cushman in 2005 and currently serves as senior managing director of global consulting. He will continue to work out of the Rosemont, IL, office, where he will oversee the industrial brokerage platform. Morris



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/CoStars-People-of-Note-Oct-21-27/142778?ref=/News/Article/CoStars-People-of-Note-Oct-21-27/142778&src=rss

Multifamily Investors Bullish on Four Western Cities

LOS ANGELES-GlobeSt.com learns exclusively from Jones Lang LaSalle that Seattle, Phoenix, Los Angeles and San Diego have seen a combined multifamily transaction volume of $4.6 billion as of September.

via Los Angeles http://www.globest.com/news/12_467/losangeles/multifamily/-326343.html

10.3-Acre Ontario Lot Sells For $3.1M

GM Ontario Investment LLC has sold the 10.32-acre lot located at the southwest corner of S. Haven Ave. and E. Riverside Dr. in Ontario, CA to Premier Investment Enterprises, Inc. for $3,146,000. The buyer is an investor who plans to hold the land for future development opportunities. The lot is zoned SP-NC/OS/R according to County Assessor records. Jason Chao and Cannon Chang of CBRE represented the seller. Peter Loh of RE/MAX Realty 100 represented...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/103-Acre-Ontario-Lot-Sells-For-$31M/142259?ref=/News/Article/103-Acre-Ontario-Lot-Sells-For-$31M/142259&src=rss

Confidence Reaches Highest Point in Seven Months

CALABASAS, CA-According to a recent Marcus & Millichap research brief, stronger employment growth, fewer unemployment claims and other factors raise consumer confidence levels in September.

via Los Angeles http://www.globest.com/news/12_465/losangeles/retail/-326247.html

CLG to Build 85-Unit Mixed-Use Complex

LOS ANGELES-The apartment building with ground-floor retail will be built on the 55,000-square-foot lot the firm just purchased here.

via Los Angeles http://www.globest.com/news/12_465/losangeles/development/-326248.html

Chino Industrial Acquired For $5.1M

SBC Enterprise LLC purchased the industrial building at 13900 Sycamore Way in Chino, CA for $5,126,500, or about $78 per square foot, from a private trust. The buyer will be operating its DVD manufacturing business at the subject property. Built in 1986, the building totals 65,837 square feet on 4.8 acres located east of Oaks Ave., between Schaefer and Edison Avenues. Mark Kegans and Ron Washle of Newmark Grubb Knight Frank represented the...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Chino-Industrial-Acquired-For-$51M/142258?ref=/News/Article/Chino-Industrial-Acquired-For-$51M/142258&src=rss

Traditional MOB is Becoming Obsolete

LOS ANGELES-Healthcare reform is leading to hospital outposts that are patient-centric, and medical practices that utilize office time-sharing to reduce costs.

via Los Angeles http://www.globest.com/news/12_464/losangeles/medical_office/-326215.html

Berkeley Point Capital Adds to Santa Monica Team

SANTA MONICA-Alex Katz comes on board as a director in the company's office here.

via Los Angeles http://www.globest.com/news/12_463/losangeles/other/EXCLUSIVE-Berkeley-Point-Capital-Adds-to-Santa-Monica-Team-326206.html

Distressed Fund Plans Aggressive Acquisition Streak

SANTA MONICA, CA-GlobeSt.com's Carrie Rossenfeld learns exclusively that Del Rey Urban Capital plans to invest more than $10 million in the acquisition of distressed, foreclosed and at-risk residential assets.

via Los Angeles http://www.globest.com/news/12_463/losangeles/acquisitions_dispositions/-326194.html

Dramatic Uptick of Chinese Investors in US

LOS ANGELES-Wealthy Chinese investors are using EB-5 visas and targeted US real estate investments to create better futures here for their families.

via Los Angeles http://www.globest.com/news/12_463/losangeles/finance/-326193.html

Market Trend: Inland Empire's Industrial Vacancy Increases to 7.6%

The Inland Empire Industrial market ended the third quarter 2012 with a vacancy rate of 7.6%. The vacancy rate was up over the previous quarter, with net absorption totaling negative 601,491 square feet in the third quarter. That compares to positive 1,474,474 square feet in the second quarter 2012. Vacant sublease space increased in the quarter, ending the quarter at 1,001,853 square feet. Tenants moving into large blocks of space in...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Market-Trend-Inland-Empires-Industrial-Vacancy-Increases-to-76/142543?ref=/News/Article/Market-Trend-Inland-Empires-Industrial-Vacancy-Increases-to-76/142543&src=rss

CoStar's People of Note (Oct. 14-20)

This week's People of Note includes the following markets: Kansas City, New York City, Northern New Jersey, Philadelphia, South Florida and Tampa/St. Petersburg. PHILADELPHIA CRE Veteran Joins NGKF’s Philadelphia Office By Latricia Miller David Dolan has joined Newmark Grubb Knight Frank's Capital Markets Group as a senior managing director in the firm's Philadelphia office. He will work with Michael Margolis in capital



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/CoStars-People-of-Note-Oct-14-20/142524?ref=/News/Article/CoStars-People-of-Note-Oct-14-20/142524&src=rss

Multi-Tenant Retail Center Pulls in $10M

SANTA CLARITA, CA-GlobeSt.com learns exclusively that the Center at Shangri-La here garners a sale price equivalent to $186 per square foot.

via Los Angeles http://www.globest.com/news/12_462/losangeles/retail/-326136.html

HCP Scoops Up 133 Senior Housing Communities for $1.7B

LONG BEACH, CA-HCP Inc., a Long Beach-based real estate investment trust, has agreed to purchase 133 senior housing communities from a joint venture between Blackstone Real Estate Partners VI, a subsidiary of The Blackstone Group, and Emeritus Corp. for $1.73 billion.

via Los Angeles http://www.globest.com/news/12_461/losangeles/senior_housing/HCP-Scoops-Up-133-Senior-Housing-Communities-for-17B-326153.html

Aimco Closes Financing for $190M Redevelopment

VENICE, CA-The loan represents the largest FHA Section 221(d)(4) unsubsidized loan ever insured by the US Department of Housing and Urban Development.

via Los Angeles http://www.globest.com/news/12_461/losangeles/multifamily/-326119.html

Self-Storage Attracts New Investor Types

LOS ANGELES-Jones Lang LaSalle's newly appointed managing director Doug McCarron tells GlobeSt.com that new money is making its way into the self-storage asset class.

via Los Angeles http://www.globest.com/news/12_461/losangeles/self_storage/-326118.html

HQ News (Oct 18): Merck Will Vacate, Close its 900,000-SF HQs

Merck, the pharmaceutical giant known as MSD outside the United States and Canada, plans to move the company's global headquarters within the state from One Merck Drive in Whitehouse Station, NJ, to its existing property at 556 Morris Ave. in Summit. The 2 million-square-foot Summit property currently houses research, manufacturing, animal health and consumer care operations and is home to 1,800 people. The company will close its 900,000-square...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/HQ-News-Oct-18-Merck-Will-Vacate-Close-its-900000-SF-HQs/142370?ref=/News/Article/HQ-News-Oct-18-Merck-Will-Vacate-Close-its-900000-SF-HQs/142370&src=rss

PE Sector Eyes Buy-to-Rent Market

LOS ANGELES-DLA Piper partner Masood Sohaili tells GlobeSt.com that private-equity funds are facing operational challenges as they move into the buy-to-rent residential space.

via Los Angeles http://www.globest.com/news/12_460/losangeles/residential/-326073.html

Bernards Implements Three-Phase, $45M School Expansion

MANHATTAN BEACH, CA-GlobeSt.com learns exclusively that the builder is tackling the project in three phases to accommodate students and school activities on the existing campus.

via Los Angeles http://www.globest.com/news/12_460/losangeles/student_housing/-326071.html

Big Bear Lake Industrial Sells for $1.1M

First Mountain Bank sold the industrial building at 41922 Fox Farm Rd. in Big Bear Lake, CA to a private investor for $1.1 million, or about $61 per square foot. Built in 2005, the warehouse property totals 18,000 square feet on 1.1 acres at the northwest corner of Fox Farm and Big Bear Blvd. in San Bernardino County. Eric Lewis of Premier Properties Sotheby's International Realty represented the seller. Tyler Wood of Coldwell Banker Mountain...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Big-Bear-Lake-Industrial-Sells-for-$11M/142256?ref=/News/Article/Big-Bear-Lake-Industrial-Sells-for-$11M/142256&src=rss

REO Apartment Buildings Fetch $20M in Auction

LOS ANGELES-GlobeSt.com learns exclusively that Amargosa Creek and Yukon Apartments sell through Auction.com within three months.

via Los Angeles http://www.globest.com/news/12_459/losangeles/multifamily/-326025.html

Coastal Mixed-Use Brings One of Highest Per-Unit Prices

VENICE, CA-The Frank, a 70-unit multifamily/retail property here, commands one of the highest prices per unit ever achieved in L.A.

via Los Angeles http://www.globest.com/news/12_458/losangeles/multifamily/-326023.html

Shopping Center Fetches $12M

SANTA CLARITA, CA-GlobeSt.com learns exclusively that 45,525-square-foot Riverview Place here sells for $275 per square foot.

via Los Angeles http://www.globest.com/news/12_458/losangeles/retail/-325995.html

Fundamentals Drive New-Home Sales

BEVERLY HILLS, CA-Andrew Adler of Alta Verde Group tells GlobeSt.com's Carrie Rossenfeld that as home prices rebound, a trend toward new vs. existing home sales is growing, particularly among Baby-Boomers.

via Los Angeles http://www.globest.com/news/12_458/losangeles/residential/-325996.html

Crisis of Confidence Hinders Office, Industrial Recovery

CALABASAS, CA-While the stage is set for economic recovery, investor uncertainty about macro factors is slowing the pace, say speakers during a recent Marcus & Millichap webcast.

via Los Angeles http://www.globest.com/news/12_457/losangeles/office/-325924.html