CoStar's People of Note (Feb. 24-March 2)

This week's People of Note includes the following markets: Dallas, Long Island, Los Angeles, National, New York City and Washington, DC. LOS ANGELES Seven-Member Office Team Joins Avison Young in Downtown L.A. By Randyl Drummer Avison Young's newly opened office in downtown Los Angeles has received a major infusion of talent, bringing aboard a seven-member office brokerage team. Ted Simpson, Jacob Bobek and Scott Steuber (picture



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TIAA-CREF Snags Modern Warehouse

CARSON, CA-The speculative building is purchased from Trammell Crow in this weekly wrap-up of deals.

via Los Angeles http://www.globest.com/news/12_549/losangeles/industrial/TIAA-CREF-Snags-Modern-Warehouse-330532.html

The CoStar Watch List Newsletter for Feb. 28 - March 6

This Week’s Top Stories While Most CRE Benefits from Recovery, One Set of Distressed Office Loans Remains 20,000 Leagues Under the Sea Investors had hoped that vintage 2007 loans would resurface post-recession to benefit from higher property values just as repayment dates approached, allowing the borrowers to obtain loan extensions and refinances, a strategy among lenders that came to be known as ‘extend and pretend.’ Right now it seems all pretend...



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Largest CMBS Loans Backing Closed OfficeMax, Office Depot Locations

Information for these lead listings was provided by CoStar Group, Nomura Securities and Trepp LLC, an industry leader in providing surveillance data on loan and commercial real estate performance underlying the CMBS market. Tell Your Friends Tweet Sheet1

Hunter Hotel Sees West Deal Increase

LOS ANGELES-The company exclusively tells GlobeSt.com that thanks to projected healthy RevPAR growth in the high single digits in 2013, the number of hotel transactions here will increase.

via Los Angeles http://www.globest.com/news/12_549/losangeles/hotel/Hunter-Hotel-Sees-West-Deal-Increase-330463.html

Schlotzsky's Signs Franchise Agreement for 170 New Deli Locations

Schlotzsky's Deli signed the brand's largest franchise agreement in more than 40 years. The deals calls for 170 Schlotzsky's locations to open throughout California, including Los Angeles, Riverside, Ventura and San Bernardino counties. As part of a co-branding deal with Cinnabon and Carvel, the new locations will include counters offering treats from the two dessert brands. Tell Your Friends Tweet The franchise agreement follows a concerted...



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Delta Mattress Takes 23,000 SF

Delta Mattress leased 22,912 square feet at 705 4th St. in Eureka, CA. The company signed a five-year deal and will occupy the building in June. Located at the corner of 4th Street (Hwy.101-South) and H Streets, the building has two stories with 12,915 square feet of retail space on the first floor and 10,000 square feet for office and storage on the second floor. Scott Pesch of Coldwell Banker Commercial Pacific Partners represented the landlord...



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McKinley and Avanath Capital Launch Partnership

ANN ARBOR, MI & IRVINE, CA—The venture commences with the management of two multi-family properties, Gladden Farms, a 220 unit community located near Indianapolis, IN and Country Wood, a 180 unit, affordable community located near Indianapolis, IN and Country Wood, a 180 unit, affordable community located in Naperville, IL.

via Los Angeles http://www.globest.com/news/12_548/losangeles/multifamily/McKinley-and-Avanath-Capital-Launch-Partnership-330456.html

Lease Advisors Donates $10,000 to Children's Hospital Los Angeles

LOS ANGELES—Lease Advisors, a land lease acquisition firm based in Los Angeles has made a charitable donation in the amount of $10,000, to Children’s Hospital Los Angeles.

via Los Angeles http://www.globest.com/news/12_548/losangeles/other/Lease-Advisors-Donates-10000-to-Childrens-Hospital-Los-Angeles-330434.html

REITs Active in Healthcare Sector

LOS ANGELES-As healthcare real estate continues to be viewed as recession proof, REITs are eyeing the sector for investment opportunities.

via Los Angeles http://www.globest.com/news/12_548/losangeles/medical_office/REITs-Active-in-Healthcare-Sector-330413.html

Vallarta Supermarkets Purchases Unfinished Center after Bankruptcy

BAKERSFIELD, CA—The Grove and totaling 100,756 square feet, the center was a victim of the recession.

via Los Angeles http://www.globest.com/news/12_547/losangeles/retail/Vallarta-Supermarkets-Purchases-Unfinished-Center-after-Bankruptcy-330433.html

Mesa West Provides $43.7 M for Acquisition of Apartment Communities

LOS ANGELES—Loans are separately collateralized by Totem Lake Apartments, a 200-unit community in the Seattle suburb of Kirkland, and Waterstone at Cheviot Hills, a 120-unit apartment complex in West Los Angeles. Both loans carried a three-year term and each represented 75 percent of total acquisition and repositioning costs.

via Los Angeles http://www.globest.com/news/12_547/losangeles/multifamily/Mesa-West-Provides-437-M-for-Acquisition-of-Apartment-Communities-330412.html

New Team Runs Avison Young Office

LOS ANGELES-The team of Ted Simpson, Jacob Bobek and Scott Steuber has joined the firm’s DTLA office as principals.

via Los Angeles http://www.globest.com/news/12_547/losangeles/employment/New-Team-Runs-Avison-Young-Office-330388.html

Market Trend: Inland Empire's Industrial Deliveries and Construction

During the fourth quarter 2012, five buildings totaling 2,182,666 square feet were completed in the Inland Empire Industrial market area. This compares to 10 buildings totaling 3,091,179 square feet that were completed in the third quarter 2012. There were 6,976,833 square feet of Industrial space under construction at the end of the fourth quarter 2012. Some of the notable 2012 deliveries include: Southgate #3, a 951,660-square-foot facility...



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Port Tree-Planting Initiative Kicks Off

LONG BEACH, CA-Attendees plant 50 trees at Silverado Park, funded by the Port of Long Beach, as part of an initiative to beautify the city and cut greenhouses gases.

via Los Angeles http://www.globest.com/news/12_546/losangeles/other/Port-Tree-Planting-Initiative-Kicks-Off-330368.html

Griffin Capital Acquires Boeing Capital's Global HQ

EL SEGUNDO, CA—Griffin unit paid $12 million for the Renton, WA building, and now operates a 16- property portfolio.

via Los Angeles http://www.globest.com/news/12_546/losangeles/office/Griffin-Capital-Acquires-Boeing-Capitals-Global-HQ-330362.html

Kennedy Wilson Debuts The Ritz-Carlton Residences, Lake Tahoe

BEVERLY HILLS, CA—Sales launch of 23 penthouse residences, located in one of the world’s greatest natural playgrounds, offers Unprecedented Ownership Privileges. Designer Jay Jeffers unveils custom show homes infused with modern California cool.

via Los Angeles http://www.globest.com/news/12_546/losangeles/other/Kennedy-Wilson-Debuts-The-Ritz-Carlton-Residences-Lake-Tahoe-330353.html

Total Woman Upgrades to 13,000SF

WESTLAKE VILLAGE, CA-The gym and spa relocates from an 11,000-square-foot facility here to the entire upper level of Building E at 30800 Russell Ranch Rd.

via Los Angeles http://www.globest.com/news/12_546/losangeles/retail/Total-Woman-Upgrades-to-13000SF-330326.html

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

This week's People of Note includes the following markets: Atlanta, Boston, Cleveland, Detroit, Los Angeles, San Diego and National. NATIONAL CBRE Appoints Lafitte Chief Operating Officer By Laurie Forbes CBRE named Michael J. Lafitte chief operating officer of the firm, effective February 14, 2013. He will oversee the company’s geographically organized service businesses (Americas, EMEA and APAC), its globally organized servic



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

This week's People of Note includes the following markets: Atlanta, Boston, Cleveland, Detroit, Los Angeles, San Diego and National. NATIONAL CBRE Appoints Lafitte Chief Operating Officer By Laurie Forbes CBRE named Michael J. Lafitte chief operating officer of the firm, effective February 14, 2013. He will oversee the company’s geographically organized service businesses (Americas, EMEA and APAC), its globally organized servic



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Webinar: Top Mobile Apps for Commercial Real Estate

Interested in learning the most effective ways to expand your capabilities and integrate your tablet into a business role? Today's powerful tablets have become standard for many industries and they have the mobility, convenience, and computing muscle to make a commercial real estate professional work smarter. In this fast-paced webinar, our resident expert Kevin Mason will review the top apps for commercial real estate and provide key tips for...



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Johnson Capital Arranges $20 million Malibu Mobile Home Park

LOS ANGELES, CA—The 5-star 297-pad mobile home park in Malibu offers residents a variety of on-site amenities and excellent ocean views.

via Los Angeles http://www.globest.com/news/12_545/losangeles/multifamily/Johnson-Capital-Arranges-20-million-Malibu-Mobile-Home-Park-330330.html

Multifamily Investment Seminar Draws 120 Investors

STUDIO CITY, CA—Presenters include experts in investing, law, accounting, property management and lending. Berzack Group organized the event.

via Los Angeles http://www.globest.com/news/12_545/losangeles/other/Multifamily-Investment-Seminar-Draws-120-Investors-330324.html

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

This week's People of Note includes the following markets: Boston, Detroit, Los Angeles and National. NATIONAL CBRE Appoints Lafitte Chief Operating Officer By Laurie Forbes CBRE named Michael J. Lafitte chief operating officer of the firm, effective February 14, 2013. He will oversee the company’s geographically organized service businesses (Americas, EMEA and APAC), its globally organized service lines (global transaction ser



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CIM Sells Market Lofts Retail

LOS ANGELES-The ground-floor retail portion of the Ralphs-anchored sells for $18.95 million in this weekly wrap-up of deals.

via Los Angeles http://www.globest.com/news/12_545/losangeles/retail/CIM-Sells-Market-Lofts-Retail-330260.html

Webinar: Top Mobile Apps for Commercial Real Estate

Interested in learning the most effective ways to expand your capabilities and integrate your tablet into a business role? Today's powerful tablets have become standard for many industries and they have the mobility, convenience, and computing muscle to make a commercial real estate professional work smarter. In this fast-paced webinar, our resident expert Kevin Mason will review the top apps for commercial real estate and provide key tips for...



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Trion Properties Receives Multifamily Payoffs, Makes New Acquisitions

SACRAMENTO and LA MESA, CA—Los Angeles-based real estate investment company, acquired a 21-unit multifamily property in La Mesa, CA and a 57, 254 square foot shopping center in Visalia, CA. Company has generated over the past year with eight acquisitions and renovations along with five dispositions.

via Los Angeles http://www.globest.com/news/12_544/losangeles/multifamily/Trion-Properties-Receives-Multifamily-Payoffs-Makes-New-Acquisitions-330274.html

MF Portfolio Trades at Market Price

NORTH HILLS, CA-GlobeSt.com learns exclusively that private investors have transacted in the sale of a locally based portfolio on Orion and Langdon aves. here.

via Los Angeles http://www.globest.com/news/12_544/losangeles/multifamily/MF-Portfolio-Trades-at-Market-Price-330257.html

Webinar: Top Mobile Apps for Commercial Real Estate

Interested in learning the most effective ways to expand your capabilities and integrate your tablet into a business role? Today's powerful tablets have become standard for many industries and they have the mobility, convenience, and computing muscle to make a commercial real estate professional work smarter. In this fast-paced webinar, our resident expert Kevin Mason will review the top apps for commercial real estate and provide key tips for...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Webinar-Top-Mobile-Apps-for-Commercial-Real-Estate/145886?ref=/News/Article/Webinar-Top-Mobile-Apps-for-Commercial-Real-Estate/145886&src=rss

Duo Quorum Apartments Get Refi

TORRANCE, CA-GlobeSt.com learns exclusively that Centerline Capital Croup has provided a Fannie Mae DUS Choice Loan for the multifamily property here.

via Los Angeles http://www.globest.com/news/12_544/losangeles/multifamily/Duo-Quorum-Apartments-Get-Refi-330214.html

Skechers DC Called Largest LEED Gold Building in the US

MANHATTAN BEACH, CA—1.82 million-square-foot Highland Fairview-SKECHERS facility in California’s Inland Empire is recognized for environmentally-friendly design.

via Los Angeles http://www.globest.com/news/12_543/inlandempire/industrial/Skechers-DC-Called-Largest-LEED-Gold-Building-in-the-US-330241.html

Top Mobile Apps for Commercial Real Estate

Interested in learning the most effective ways to expand your capabilities and integrate your tablet into a business role? Today's powerful tablets have become standard for many industries and they have the mobility, convenience, and computing muscle to make a commercial real estate professional work smarter. In this fast-paced webinar, our resident expert Kevin Mason will review the top apps for commercial real estate professionals and provide...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Top-Mobile-Apps-for-Commercial-Real-Estate/145886?ref=/News/Article/Top-Mobile-Apps-for-Commercial-Real-Estate/145886&src=rss

Exclusive Interview with Steven Orchard

LOS ANGELES-GlobeSt.com chats with the SVP of Transwestern’s structured finance group here about how large and small CRE players are tackling post-crisis financing solutions.

via Los Angeles http://www.globest.com/news/12_543/losangeles/finance/Exclusive-Interview-with-Steven-Orchard-330211.html

CBRE Fund to Market High-Quality U.S. Office Portfolio

LOS ANGELES—The National Office Portfolio, includes six trophy-quality assets totaling nearly 2.0 million square feet in five premier markets including Los Angeles, Dallas, Houston, Washington, D.C., and West Palm Beach, Fla.

via Los Angeles http://www.globest.com/news/12_543/losangeles/office/CBRE-Fund-to-Market-High-Quality-US-Office-Portfolio-330208.html

Maxxam Grabs BofA Building

BEVERLY HILLS, CA-The eight-story office building is in a prime Golden Triangle location here.

via Los Angeles http://www.globest.com/news/12_543/losangeles/office/Maxxam-Grabs-BofA-Building-330162.html

Study: Area Apartment Industry Contributed $14.7 Billion

California received $190.9 billion economic contribution from the combined construction, operation and resident spending, says new report 'The Trillion Dollar Apartment Industry.'

via Los Angeles http://www.globest.com/news/12_542/losangeles/multifamily/Study-Area-Apartment-Industry-Contributed-14.7-Billion-330168.html

Law Firm Helps Wilshire Grand Developer

LOS ANGELES-Global law firm Paul Hastings assists Korean Air Lines reach important milestones for the $1-billion redevelopment.

via Los Angeles http://www.globest.com/news/12_542/losangeles/hotel/Law-Firm-Helps-Wilshire-Grand-Developer-330157.html

Wilshire Grand Skyline View Revealed

LOS ANGELES-AC Martin Partners details what the DTLA skyline will look like after the $1-billion project is completed in 2017.

via Los Angeles http://www.globest.com/news/12_542/losangeles/hotel/Wilshire-Grand-Skyline-View-Revealed-330107.html

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

This week's People of Note includes the following markets: Austin, Chicago, Dallas/Fort Worth, Denver, Houston, Indianapolis, New York City, Salt Lake City, San Antonio and San Francisco. NEW YORK CITY C&W Taps Lo Russo to Lead New York Brokerage Operations By CoStar Research Cushman & Wakefield has brought in Ronald T. Lo Russo to serve as president of its high profile New York Tri-State regional operation. He previously w



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Market Trend: Inland Empire's Industrial Vacancy Decreases to 7.1%

The Inland Empire Industrial market ended the fourth quarter 2012 with a vacancy rate of 7.1%. The vacancy rate was down over the previous quarter, with net absorption totaling positive 5,004,620 square feet in the fourth quarter. That compares to negative 832,432 square feet in the third quarter 2012. Vacant sublease space increased in the quarter, ending the quarter at 968,498 square feet. Tenants moving into large blocks of space in...



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Prologis To Build Warehouses For BMW In Inland Empire, Dallas

Prologis, Inc. (NYSE: PLD) announced Wednesday it has signed two build-to-suit agreements with BMW of North America, LLC totaling 609,000 square feet for buildings in Redlands, CA, and south of the Dallas market, to be used as logistics space for the luxury carmaker. The first development of 326,500 square feet will be located in Redlands, CA, at Prologis Redlands Distribution Center 11 in the Inland Empire market. The LEED Silver certified facility...



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Watch List: CMBS Loans of Concern with Defense Contractor Exposure

Defense contractors are among the three largest tenants in these properties on which the loans have gone into foreclosure, been transferred to special servicing or have drawn a watch list comment from the loan servicers. For analysis, please see our story on how pending federal spending cuts are impacting contractors and landlords with significant exposure to defense tenants: Looming Sequestration Cuts: Back To Recession or Business as Usual?...



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Shoppes at Creekside Sell for $5.1M

Standard Parking Corp. sold the retail building at 2019 Riverside Ave. in Rialto, CA to Karraa Real Property 2 LLC for $5.125 million, or approximately $293 per square foot. The property totals 17,480 square feet on more than three acres in San Bernardino County. It was originally built in 2008. Rick Raymundo of Marcus & Millichap represented the buyer. For more information on this transaction, please see CoStar COMPS #2619941.



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Washington Square Por Sold for $9.6M

42 Washington Square LP purchased 42100 and 42210 - 42400 Washington St. in Bermuda Dunes, CA for $9.55 million, or about $185 per square foot, from Washington Square SC LLC. The transaction represented the buyer's upleg in a 1031 exchange. Built in 2001, the shopping center portion totals 51,572 square feet, part of Washington Square Shopping Center located at the southeast corner of Washington St. and 42nd Ave. The retail portion sold includes...



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MG Properties Closes on $95M Acquisition of Terracina Apts

San Diego-based MG Properties Group (MGPG), a private real estate investor and operator, in partnership with equity provider Rockwood Capital, has acquired the Terracina Apartments at 3303 S. Archibald Ave. in Ontario, CA for $95 million, or about $129,000 per unit, from Archstone. The 736-unit, 673,280-square-foot multifamily community was built in 1989 on 21 acres in the Airport Area submarket of San Bernardino County. It is located at the intersection...



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Market Trend: Inland Empire's Retail Vacancy Stays at 8.9%

The Inland Empire retail market did not experience much change in market conditions in the fourth quarter 2012. The vacancy rate went from 8.9% in the previous quarter to 8.9% in the current quarter. Net absorption was negative 108,072 square feet, and vacant sublease space increased by 150,738 square feet. In third quarter 2012, net absorption was positive 312,365 square feet. Tenants moving into large blocks of space in 2012 include: Walmart...



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UPS Adds Nearly 800,000 SF of Specialized Healthcare Facilities to its Logisitics Network

From doses of temperature-sensitive flu vaccine, to pallets full of disposable surgical kits, UPS is expecting deliveries of medicines, medical supplies and devices to play an increasing part in its shipping business. To accommodate the expected growth, the global shipping service recently expanded its healthcare distribution network, adding nearly 800,000 square feet of specialized distribution space in five markets. It now has nearly six million...



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Westbay 'Portfolio' Closes After Year Long Disposition

The Praedium Group, along with operating partner Ocean West Capital Partners, has closed on the sale of the final remaining properties in its Westbay Portfolio. All told, the properties sold separately to a number of individual investors for an aggregate $59.3 million, or an average $201,000 per unit. Advanced Real Estate Services, Inc. acquired the last four remaining properties for $32.5 million, or about $206,000 per unit. The Eastside...



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Upland Bldg Sells for $2.7M

Apollo Asset Management sold the retail property at 2419 N. Euclid Ave. in Upland, CA to Aegis Assisted Living for $2,698,000, or about $64 per square foot. The buyer is involved in the development and construction of high-end senior living communities, and they plan to convert the building for personal use. Built in 1983, the property features 41,957 square feet of retail space on 3.27 acres of land located at the northwest corner of N. Euclid...



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Fontana Industrial Sells for $3.2M

Mendocino Forest Products Company LLC purchased the industrial building at 13041 Union Ave. in Fontana, CA for $3.2 million, or about $59 per square foot, from a private trust. The buyer, a manufacturer and distributor of environmentally-certified lumber products, had been leasing the premises for about two years at the time of sale. Built in 1979, the rail-served warehouse property totals 53,825 square feet on 5.6 acres located at the southeast...



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

This week's People of Note includes the following markets: Austin, Chicago, Dallas/Fort Worth, Denver, Houston, Indianapolis, New York City, Salt Lake City, San Antonio and San Francisco. NEW YORK CITY C&W Taps Lo Russo to Lead New York Brokerage Operations By CoStar Research Cushman & Wakefield has brought in Ronald T. Lo Russo to serve as president of its high profile New York Tri-State regional operation. He previously w



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Market Trend: Inland Empire's Industrial Vacancy Decreases to 7.1%

The Inland Empire Industrial market ended the fourth quarter 2012 with a vacancy rate of 7.1%. The vacancy rate was down over the previous quarter, with net absorption totaling positive 5,004,620 square feet in the fourth quarter. That compares to negative 832,432 square feet in the third quarter 2012. Vacant sublease space increased in the quarter, ending the quarter at 968,498 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-Decreases-to-71/145749?ref=/News/Article/Market-Trend-Inland-Empires-Industrial-Vacancy-Decreases-to-71/145749&src=rss

Prologis To Build Warehouses For BMW In Inland Empire, Dallas

Prologis, Inc. (NYSE: PLD) announced Wednesday it has signed two build-to-suit agreements with BMW of North America, LLC totaling 609,000 square feet for buildings in Redlands, CA, and south of the Dallas market, to be used as logistics space for the luxury carmaker. The first development of 326,500 square feet will be located in Redlands, CA, at Prologis Redlands Distribution Center 11 in the Inland Empire market. The LEED Silver certified facility...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Prologis-To-Build-Warehouses-For-BMW-In-Inland-Empire-Dallas/145724?ref=/News/Article/Prologis-To-Build-Warehouses-For-BMW-In-Inland-Empire-Dallas/145724&src=rss

Watch List: CMBS Loans of Concern with Defense Contractor Exposure

Defense contractors are among the three largest tenants in these properties on which the loans have gone into foreclosure, been transferred to special servicing or have drawn a watch list comment from the loan servicers. For analysis, please see our story on how pending federal spending cuts are impacting contractors and landlords with significant exposure to defense tenants: Looming Sequestration Cuts: Back To Recession or Business as Usual?...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Watch-List-CMBS-Loans-of-Concern-with-Defense-Contractor-Exposure/145711?ref=/News/Article/Watch-List-CMBS-Loans-of-Concern-with-Defense-Contractor-Exposure/145711&src=rss

Shoppes at Creekside Sell for $5.1M

Standard Parking Corp. sold the retail building at 2019 Riverside Ave. in Rialto, CA to Karraa Real Property 2 LLC for $5.125 million, or approximately $293 per square foot. The property totals 17,480 square feet on more than three acres in San Bernardino County. It was originally built in 2008. Rick Raymundo of Marcus & Millichap represented the buyer. For more information on this transaction, please see CoStar COMPS #2619941.



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Shoppes-at-Creekside-Sell-for-$51M/145361?ref=/News/Article/Shoppes-at-Creekside-Sell-for-$51M/145361&src=rss

Washington Square Por Sold for $9.6M

42 Washington Square LP purchased 42100 and 42210 - 42400 Washington St. in Bermuda Dunes, CA for $9.55 million, or about $185 per square foot, from Washington Square SC LLC. The transaction represented the buyer's upleg in a 1031 exchange. Built in 2001, the shopping center portion totals 51,572 square feet, part of Washington Square Shopping Center located at the southeast corner of Washington St. and 42nd Ave. The retail portion sold includes...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Washington-Square-Por-Sold-for-$96M/145332?ref=/News/Article/Washington-Square-Por-Sold-for-$96M/145332&src=rss

MG Properties Closes on $95M Acquisition of Terracina Apts

San Diego-based MG Properties Group (MGPG), a private real estate investor and operator, in partnership with equity provider Rockwood Capital, has acquired the Terracina Apartments at 3303 S. Archibald Ave. in Ontario, CA for $95 million, or about $129,000 per unit, from Archstone. The 736-unit, 673,280-square-foot multifamily community was built in 1989 on 21 acres in the Airport Area submarket of San Bernardino County. It is located at the intersection...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/MG-Properties-Closes-on-$95M-Acquisition-of-Terracina-Apts/145548?ref=/News/Article/MG-Properties-Closes-on-$95M-Acquisition-of-Terracina-Apts/145548&src=rss

Market Trend: Inland Empire's Retail Vacancy Stays at 8.9%

The Inland Empire retail market did not experience much change in market conditions in the fourth quarter 2012. The vacancy rate went from 8.9% in the previous quarter to 8.9% in the current quarter. Net absorption was negative 108,072 square feet, and vacant sublease space increased by 150,738 square feet. In third quarter 2012, net absorption was positive 312,365 square feet. Tenants moving into large blocks of space in 2012 include: Walmart...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Market-Trend-Inland-Empires-Retail-Vacancy-Stays-at-89/145505?ref=/News/Article/Market-Trend-Inland-Empires-Retail-Vacancy-Stays-at-89/145505&src=rss

UPS Adds Nearly 800,000 SF of Specialized Healthcare Facilities to its Logisitics Network

From doses of temperature-sensitive flu vaccine, to pallets full of disposable surgical kits, UPS is expecting deliveries of medicines, medical supplies and devices to play an increasing part in its shipping business. To accommodate the expected growth, the global shipping service recently expanded its healthcare distribution network, adding nearly 800,000 square feet of specialized distribution space in five markets. It now has nearly six million...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/UPS-Adds-Nearly-800000-SF-of-Specialized-Healthcare-Facilities-to-its-Logisitics-Network/145405?ref=/News/Article/UPS-Adds-Nearly-800000-SF-of-Specialized-Healthcare-Facilities-to-its-Logisitics-Network/145405&src=rss

Westbay 'Portfolio' Closes After Year Long Disposition

The Praedium Group, along with operating partner Ocean West Capital Partners, has closed on the sale of the final remaining properties in its Westbay Portfolio. All told, the properties sold separately to a number of individual investors for an aggregate $59.3 million, or an average $201,000 per unit. Advanced Real Estate Services, Inc. acquired the last four remaining properties for $32.5 million, or about $206,000 per unit. The Eastside...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Westbay-Portfolio-Closes-After-Year-Long-Disposition/145401?ref=/News/Article/Westbay-Portfolio-Closes-After-Year-Long-Disposition/145401&src=rss

Upland Bldg Sells for $2.7M

Apollo Asset Management sold the retail property at 2419 N. Euclid Ave. in Upland, CA to Aegis Assisted Living for $2,698,000, or about $64 per square foot. The buyer is involved in the development and construction of high-end senior living communities, and they plan to convert the building for personal use. Built in 1983, the property features 41,957 square feet of retail space on 3.27 acres of land located at the northwest corner of N. Euclid...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Upland-Bldg-Sells-for-$27M/145074?ref=/News/Article/Upland-Bldg-Sells-for-$27M/145074&src=rss

Fontana Industrial Sells for $3.2M

Mendocino Forest Products Company LLC purchased the industrial building at 13041 Union Ave. in Fontana, CA for $3.2 million, or about $59 per square foot, from a private trust. The buyer, a manufacturer and distributor of environmentally-certified lumber products, had been leasing the premises for about two years at the time of sale. Built in 1979, the rail-served warehouse property totals 53,825 square feet on 5.6 acres located at the southeast...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Fontana-Industrial-Sells-for-$32M/144752?ref=/News/Article/Fontana-Industrial-Sells-for-$32M/144752&src=rss

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

This week's People of Note includes the following markets: Austin, Chicago, Dallas/Fort Worth, Denver, Houston, Indianapolis, New York City, Salt Lake City, San Antonio and San Francisco. NEW YORK CITY C&W Taps Lo Russo to Lead New York Brokerage Operations By CoStar Research Cushman & Wakefield has brought in Ronald T. Lo Russo to serve as president of its high profile New York Tri-State regional operation. He previously w



via Inland Empire Commercial Real Estate News From CoStar Group http://seattle.costargroup.com/News/Article/CoStars-People-of-Note-Feb-10-16/145769?ref=/News/Article/CoStars-People-of-Note-Feb-10-16/145769&src=rss

Market Trend: Inland Empire's Industrial Vacancy Decreases to 7.1%

The Inland Empire Industrial market ended the fourth quarter 2012 with a vacancy rate of 7.1%. The vacancy rate was down over the previous quarter, with net absorption totaling positive 5,004,620 square feet in the fourth quarter. That compares to negative 832,432 square feet in the third quarter 2012. Vacant sublease space increased in the quarter, ending the quarter at 968,498 square feet. Tenants moving into large blocks of space in...



via Inland Empire Commercial Real Estate News From CoStar Group http://seattle.costargroup.com/News/Article/Market-Trend-Inland-Empires-Industrial-Vacancy-Decreases-to-71/145749?ref=/News/Article/Market-Trend-Inland-Empires-Industrial-Vacancy-Decreases-to-71/145749&src=rss

Prologis To Build Warehouses For BMW In Inland Empire, Dallas

Prologis, Inc. (NYSE: PLD) announced Wednesday it has signed two build-to-suit agreements with BMW of North America, LLC totaling 609,000 square feet for buildings in Redlands, CA, and south of the Dallas market, to be used as logistics space for the luxury carmaker. The first development of 326,500 square feet will be located in Redlands, CA, at Prologis Redlands Distribution Center 11 in the Inland Empire market. The LEED Silver certified facility...



via Inland Empire Commercial Real Estate News From CoStar Group http://seattle.costargroup.com/News/Article/Prologis-To-Build-Warehouses-For-BMW-In-Inland-Empire-Dallas/145724?ref=/News/Article/Prologis-To-Build-Warehouses-For-BMW-In-Inland-Empire-Dallas/145724&src=rss

Watch List: CMBS Loans of Concern with Defense Contractor Exposure

Defense contractors are among the three largest tenants in these properties on which the loans have gone into foreclosure, been transferred to special servicing or have drawn a watch list comment from the loan servicers. For analysis, please see our story on how pending federal spending cuts are impacting contractors and landlords with significant exposure to defense tenants: Looming Sequestration Cuts: Back To Recession or Business as Usual?...



via Inland Empire Commercial Real Estate News From CoStar Group http://seattle.costargroup.com/News/Article/Watch-List-CMBS-Loans-of-Concern-with-Defense-Contractor-Exposure/145711?ref=/News/Article/Watch-List-CMBS-Loans-of-Concern-with-Defense-Contractor-Exposure/145711&src=rss

Shoppes at Creekside Sell for $5.1M

Standard Parking Corp. sold the retail building at 2019 Riverside Ave. in Rialto, CA to Karraa Real Property 2 LLC for $5.125 million, or approximately $293 per square foot. The property totals 17,480 square feet on more than three acres in San Bernardino County. It was originally built in 2008. Rick Raymundo of Marcus & Millichap represented the buyer. For more information on this transaction, please see CoStar COMPS #2619941.



via Inland Empire Commercial Real Estate News From CoStar Group http://seattle.costargroup.com/News/Article/Shoppes-at-Creekside-Sell-for-$51M/145361?ref=/News/Article/Shoppes-at-Creekside-Sell-for-$51M/145361&src=rss

Washington Square Por Sold for $9.6M

42 Washington Square LP purchased 42100 and 42210 - 42400 Washington St. in Bermuda Dunes, CA for $9.55 million, or about $185 per square foot, from Washington Square SC LLC. The transaction represented the buyer's upleg in a 1031 exchange. Built in 2001, the shopping center portion totals 51,572 square feet, part of Washington Square Shopping Center located at the southeast corner of Washington St. and 42nd Ave. The retail portion sold includes...



via Inland Empire Commercial Real Estate News From CoStar Group http://seattle.costargroup.com/News/Article/Washington-Square-Por-Sold-for-$96M/145332?ref=/News/Article/Washington-Square-Por-Sold-for-$96M/145332&src=rss

MG Properties Closes on $95M Acquisition of Terracina Apts

San Diego-based MG Properties Group (MGPG), a private real estate investor and operator, in partnership with equity provider Rockwood Capital, has acquired the Terracina Apartments at 3303 S. Archibald Ave. in Ontario, CA for $95 million, or about $129,000 per unit, from Archstone. The 736-unit, 673,280-square-foot multifamily community was built in 1989 on 21 acres in the Airport Area submarket of San Bernardino County. It is located at the intersection...



via Inland Empire Commercial Real Estate News From CoStar Group http://seattle.costargroup.com/News/Article/MG-Properties-Closes-on-$95M-Acquisition-of-Terracina-Apts/145548?ref=/News/Article/MG-Properties-Closes-on-$95M-Acquisition-of-Terracina-Apts/145548&src=rss

Market Trend: Inland Empire's Retail Vacancy Stays at 8.9%

The Inland Empire retail market did not experience much change in market conditions in the fourth quarter 2012. The vacancy rate went from 8.9% in the previous quarter to 8.9% in the current quarter. Net absorption was negative 108,072 square feet, and vacant sublease space increased by 150,738 square feet. In third quarter 2012, net absorption was positive 312,365 square feet. Tenants moving into large blocks of space in 2012 include: Walmart...



via Inland Empire Commercial Real Estate News From CoStar Group http://seattle.costargroup.com/News/Article/Market-Trend-Inland-Empires-Retail-Vacancy-Stays-at-89/145505?ref=/News/Article/Market-Trend-Inland-Empires-Retail-Vacancy-Stays-at-89/145505&src=rss

UPS Adds Nearly 800,000 SF of Specialized Healthcare Facilities to its Logisitics Network

From doses of temperature-sensitive flu vaccine, to pallets full of disposable surgical kits, UPS is expecting deliveries of medicines, medical supplies and devices to play an increasing part in its shipping business. To accommodate the expected growth, the global shipping service recently expanded its healthcare distribution network, adding nearly 800,000 square feet of specialized distribution space in five markets. It now has nearly six million...



via Inland Empire Commercial Real Estate News From CoStar Group http://seattle.costargroup.com/News/Article/UPS-Adds-Nearly-800000-SF-of-Specialized-Healthcare-Facilities-to-its-Logisitics-Network/145405?ref=/News/Article/UPS-Adds-Nearly-800000-SF-of-Specialized-Healthcare-Facilities-to-its-Logisitics-Network/145405&src=rss

Westbay 'Portfolio' Closes After Year Long Disposition

The Praedium Group, along with operating partner Ocean West Capital Partners, has closed on the sale of the final remaining properties in its Westbay Portfolio. All told, the properties sold separately to a number of individual investors for an aggregate $59.3 million, or an average $201,000 per unit. Advanced Real Estate Services, Inc. acquired the last four remaining properties for $32.5 million, or about $206,000 per unit. The Eastside...



via Inland Empire Commercial Real Estate News From CoStar Group http://seattle.costargroup.com/News/Article/Westbay-Portfolio-Closes-After-Year-Long-Disposition/145401?ref=/News/Article/Westbay-Portfolio-Closes-After-Year-Long-Disposition/145401&src=rss

Upland Bldg Sells for $2.7M

Apollo Asset Management sold the retail property at 2419 N. Euclid Ave. in Upland, CA to Aegis Assisted Living for $2,698,000, or about $64 per square foot. The buyer is involved in the development and construction of high-end senior living communities, and they plan to convert the building for personal use. Built in 1983, the property features 41,957 square feet of retail space on 3.27 acres of land located at the northwest corner of N. Euclid...



via Inland Empire Commercial Real Estate News From CoStar Group http://seattle.costargroup.com/News/Article/Upland-Bldg-Sells-for-$27M/145074?ref=/News/Article/Upland-Bldg-Sells-for-$27M/145074&src=rss

Fontana Industrial Sells for $3.2M

Mendocino Forest Products Company LLC purchased the industrial building at 13041 Union Ave. in Fontana, CA for $3.2 million, or about $59 per square foot, from a private trust. The buyer, a manufacturer and distributor of environmentally-certified lumber products, had been leasing the premises for about two years at the time of sale. Built in 1979, the rail-served warehouse property totals 53,825 square feet on 5.6 acres located at the southeast...



via Inland Empire Commercial Real Estate News From CoStar Group http://seattle.costargroup.com/News/Article/Fontana-Industrial-Sells-for-$32M/144752?ref=/News/Article/Fontana-Industrial-Sells-for-$32M/144752&src=rss

Bernards Breaks Ground on New Building at USC

LOS ANGELES—High Tech collegiate gothic structure will house the Annenberg School for Communication and Journalism.

via Los Angeles http://www.globest.com/news/12_541/losangeles/other/Bernards-Breaks-Ground-on-New-Building-at-USC-330130.html

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

This week's People of Note includes the following markets: Austin, Chicago, Dallas/Fort Worth, Denver, Houston, Indianapolis, New York City, Salt Lake City, San Antonio and San Francisco. NEW YORK CITY C&W Taps Lo Russo to Lead New York Brokerage Operations By CoStar Research Cushman & Wakefield has brought in Ronald T. Lo Russo to serve as president of its high profile New York Tri-State regional operation. He previously w



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/CoStars-People-of-Note-Feb-10-16/145769?ref=/News/Article/CoStars-People-of-Note-Feb-10-16/145769&src=rss

Industrial Vacancy Nosedives in South Bay

TORRANCE, CA-In an update to this morning’s story, the Klabin Co./CORFAC International reports that total industrial space in L.A.’s South Bay tightened further in Q4 ’12.

via Los Angeles http://www.globest.com/news/12_541/losangeles/industrial/Industrial-Vacancy-Nosedives-in-South-Bay-330104.html

Industrial Activity Sets Record in South Bay

TORRANCE, CA-Total square footage leased or sold in L.A’s Metro South Bay topped 5 million square feet last year for the first time since 2004, the Klabin Co./CORFAC International reports.

via Los Angeles http://www.globest.com/news/12_541/losangeles/industrial/Industrial-Leases-Sales-Set-Record-in-South-Bay-330037.html

Market Trend: Inland Empire's Industrial Vacancy Decreases to 7.1%

The Inland Empire Industrial market ended the fourth quarter 2012 with a vacancy rate of 7.1%. The vacancy rate was down over the previous quarter, with net absorption totaling positive 5,004,620 square feet in the fourth quarter. That compares to negative 832,432 square feet in the third quarter 2012. Vacant sublease space increased in the quarter, ending the quarter at 968,498 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-Decreases-to-71/145749?ref=/News/Article/Market-Trend-Inland-Empires-Industrial-Vacancy-Decreases-to-71/145749&src=rss

Watch List: CMBS Loans of Concern with Defense Contractor Exposure

Defense contractors are among the three largest tenants in these properties on which the loans have gone into foreclosure, been transferred to special servicing or have drawn a watch list comment from the loan servicers. For analysis, please see our story on how pending federal spending cuts are impacting contractors and landlords with significant exposure to defense tenants: Looming Sequestration Cuts: Back To Recession or Business as Usual?...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Watch-List-CMBS-Loans-of-Concern-with-Defense-Contractor-Exposure/145711?ref=/News/Article/Watch-List-CMBS-Loans-of-Concern-with-Defense-Contractor-Exposure/145711&src=rss

Exclusive Interview with Emile Haddad

LOS ANGELES-GlobeSt.com has a pre-RealShare Los Angeles chat with the president and CEO of FivePoint Communities on managing master-planned communities.

via Los Angeles http://www.globest.com/news/12_540/losangeles/asset_management/Exclusive-Interview-with-Emile-Haddad-329987.html

Prologis To Build Warehouses For BMW In Inland Empire, Dallas

Prologis, Inc. (NYSE: PLD) announced Wednesday it has signed two build-to-suit agreements with BMW of North America, LLC totaling 609,000 square feet for buildings in Redlands, CA, and south of the Dallas market, to be used as logistics space for the luxury carmaker. The first development of 326,500 square feet will be located in Redlands, CA, at Prologis Redlands Distribution Center 11 in the Inland Empire market. The LEED Silver certified facility...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Prologis-To-Build-Warehouses-For-BMW-In-Inland-Empire-Dallas/145724?ref=/News/Article/Prologis-To-Build-Warehouses-For-BMW-In-Inland-Empire-Dallas/145724&src=rss

LBG Acquires Home Depot Building in Henderson, Nevada for $13.5 M

LOS ANGELES—Home Depot has anchored the property since 1993.

via Los Angeles http://www.globest.com/news/12_539/losangeles/retail/LBG-Acquires-Home-Depot-Building-in-Henderson-Nevada-for-135-M-330010.html

Sources: Ratkovich Closes on Macy's Plaza

LOS ANGELES-Industry executives confirm rumors that Ratkovich has solidified its purchase of the DTLA property.

via Los Angeles http://www.globest.com/news/12_539/losangeles/retail/Sources-Ratkovich-Closes-on-Macys-Plaza-329981.html

CIM Group Brings Medical Center to Flower Street Building

LOS ANGELES—A 10-year lease is secured for 7,500 square feet of ground floor space at 830 S. Flower Street with the Keck Medical Center of USC. The clinic provides downtown residents and employees with easy access to general and specialty medical care.

via Los Angeles http://www.globest.com/news/12_539/losangeles/medical_office/CIM-Group-Brings-Medical-Center-to-Flower-Street-Building-329969.html

Vilgiate Becomes Colliers EVP

LOS ANGELES-GlobeSt.com learns exclusively that the office broker has been added as part of the firm’s strategic growth plans for 2013 and beyond.

via Los Angeles http://www.globest.com/news/12_539/losangeles/office/Vilgiate-Becomes-Colliers-EVP-329927.html

Shoppes at Creekside Sell for $5.1M

Standard Parking Corp. sold the retail building at 2019 Riverside Ave. in Rialto, CA to Karraa Real Property 2 LLC for $5.125 million, or approximately $293 per square foot. The property totals 17,480 square feet on more than three acres in San Bernardino County. It was originally built in 2008. Rick Raymundo of Marcus & Millichap represented the buyer. For more information on this transaction, please see CoStar COMPS #2619941.



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Shoppes-at-Creekside-Sell-for-$51M/145361?ref=/News/Article/Shoppes-at-Creekside-Sell-for-$51M/145361&src=rss

Allison Company Closes Two Deals Totaling Nearly $28 M

NEWPORT BEACH, CA—Six Properties in all, including distribution and retail facilities.

via Los Angeles http://www.globest.com/news/12_538/losangeles/retail/Allison-Company-Closes-Two-Deals-Totaling-Nearly-28-M-329929.html

HFF Changes Leadership Team

LOS ANGELES-GlobeSt.com learns exclusively that the firm has promoted three of its West Coast leaders in response to regional growth.

via Los Angeles http://www.globest.com/news/12_538/losangeles/finance/HFF-Changes-Leadership-Team-329919.html

IMT Capital Acquires Landmark Sunkist Building

LOS ANGELES—Constructed in 1971, the Sunkist HQ property is situated on 8.5 acres adjacent to the 101 Ventura Freeway and Westfield Fashion Square Mall in the Sherman Oaks.

via Los Angeles http://www.globest.com/news/12_538/losangeles/office/IMT-Capital-Acquires-Landmark-Sunkist-Building-329909.html

JLL Bolsters Industrial Broker Roster

LOS ANGELES-GlobeSt.com learns exclusively that the firm has hired a veteran industrial real estate team along with two national investment sales experts to lead its West Coast industrial capital markets practice.

via Los Angeles http://www.globest.com/news/12_538/losangeles/industrial/JLL-Bolsters-Industrial-Broker-Roster-329861.html

Washington Square Por Sold for $9.6M

42 Washington Square LP purchased 42100 and 42210 - 42400 Washington St. in Bermuda Dunes, CA for $9.55 million, or about $185 per square foot, from Washington Square SC LLC. The transaction represented the buyer's upleg in a 1031 exchange. Built in 2001, the shopping center portion totals 51,572 square feet, part of Washington Square Shopping Center located at the southeast corner of Washington St. and 42nd Ave. The retail portion sold includes...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Washington-Square-Por-Sold-for-$96M/145332?ref=/News/Article/Washington-Square-Por-Sold-for-$96M/145332&src=rss

Vanguard Lists $44M MF Portfolio

LOS ANGELES-The portfolio contains 294 units in 14 separate properties in the Hollywood and Koreatown submarkets.

via Los Angeles http://www.globest.com/news/12_537/losangeles/multifamily/Vanguard-Lists-44M-MF-Portfolio-329802.html

MG Properties Closes on $95M Acquisition of Terracina Apts

San Diego-based MG Properties Group (MGPG), a private real estate investor and operator, in partnership with equity provider Rockwood Capital, has acquired the Terracina Apartments at 3303 S. Archibald Ave. in Ontario, CA for $95 million, or about $129,000 per unit, from Archstone. The 736-unit, 673,280-square-foot multifamily community was built in 1989 on 21 acres in the Airport Area submarket of San Bernardino County. It is located at the intersection...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/MG-Properties-Closes-on-$95M-Acquisition-of-Terracina-Apts/145548?ref=/News/Article/MG-Properties-Closes-on-$95M-Acquisition-of-Terracina-Apts/145548&src=rss

Smith Grocery Center Acquired by LA Company

LAS VEGAS—75,000 SF center is company’s second area property.

via Los Angeles http://www.globest.com/news/12_536/lasvegas/retail/Smith-Grocery-Center-Acquired-by-LA-Company-329809.html

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

This week's People of Note includes the following markets: Chicago, Denver, Los Angeles, New York City, Orlando, Philadelphia, Sacramento, Seattle, Washington, DC, and Westchester/South Connecticut. CHICAGO Ragsdale To Lead JLL's Chicago Industrial Brokerage Group By Seth Marinoff Jones Lang LaSalle named Trevor Ragsdale, SIOR as the head of its Chicago industrial brokerage group, a fresh new role that will concentrate



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/CoStars-People-of-Note-Feb-3-9/145517?ref=/News/Article/CoStars-People-of-Note-Feb-3-9/145517&src=rss

Cornerstone Acquires Assisted Living and Memory Care Facility

IRVINE, CA—Joint venture acquires a 99-bed facility in Winston-Salem, NC in an $9.7 million transaction. Operator manages more than 91 facilities in 12 states.

via Los Angeles http://www.globest.com/news/12_536/losangeles/medical_office/Cornerstone-Acquires-Assisted-Living-and-Memory-Care-Facility-329799.html

Arcadia High School Arts Center Unveiled

Built with exceptional quality and a state-of-the-art design, new Performing Art Center is a 21st Century hub for drama, dance, concerts and classes.

via Los Angeles http://www.globest.com/news/12_536/losangeles/other/New-Arcadia-High-School-Arts-Center-Unveiled-329797.html

Daily-Needs Shopper Rules Regional Market

WOODLAND HILLS, CA-Wilson Commercial Real Estate’s Geoff Tranchina tells GlobeSt.com’s Carrie Rossenfeld that grocer- and drug-anchored centers are leading the regional market out of the recession.

via Los Angeles http://www.globest.com/news/12_536/losangeles/retail/Daily-Needs-Shopper-Rules-Regional-Market-329796.html

Hudson Pacific Properties, Inc. Announces Public Offering of Common Stock

LOS ANGELES--Company offering 7,500,000 shares of common stock.

via Los Angeles http://www.globest.com/news/12_536/losangeles/other/Hudson-Pacific-Properties-Inc-Announces-Public-Offering-of-Common-Stock-329795.html

CBRE Reports 20% Growth for Q4

LOS ANGELES—Full year growth was 18%. Adjusted EPS of $0.55 for the quarter and $1.22 for the year; revenue up 14% for the quarter and 10% for the year

via Los Angeles http://www.globest.com/news/12_536/losangeles/CBRE-Reports-20-Growth-for-Q4-329794.html

Kraemer Gains Undeveloped Lot

LOS ANGELES-The land company acquires a 14-lot residential development in the Highland Park submarket here through a new strategic partnership.

via Los Angeles http://www.globest.com/news/12_536/losangeles/development/Kraemer-Gains-Undeveloped-Lot-329749.html

Market Trend: Inland Empire's Retail Vacancy Stays at 8.9%

The Inland Empire retail market did not experience much change in market conditions in the fourth quarter 2012. The vacancy rate went from 8.9% in the previous quarter to 8.9% in the current quarter. Net absorption was negative 108,072 square feet, and vacant sublease space increased by 150,738 square feet. In third quarter 2012, net absorption was positive 312,365 square feet. Tenants moving into large blocks of space in 2012 include: Walmart...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Market-Trend-Inland-Empires-Retail-Vacancy-Stays-at-89/145505?ref=/News/Article/Market-Trend-Inland-Empires-Retail-Vacancy-Stays-at-89/145505&src=rss

Pacshore Grabs Santa Monica Office Building for $20 M

Company engages Industry LTD to oversee a multimillion-construction project in four story art-deco.

via Los Angeles http://www.globest.com/news/12_535/losangeles/office/Pacshore-Grabs-Santa-Monica-Office-Building-for-20-Million-329780.html

Charles Dunn Completes Office Lease of 19,200 SF

SHERMAN OAKS, CA—San Fernando Valley site leased for The Refinery, an award-winning advertising agency for the entertainment industry.

via Los Angeles http://www.globest.com/news/12_535/losangeles/office/Charles-Dunn-Completes-Office-Lease-of-19200-SF-329762.html

Trigild Honored for Nearly $100M Lease

SAN DIEGO—Firm recognized for ‘Office Transaction of the Year,’ 207,000 SF Inland Empire Health Plans, Rancho Cucamonga.

via Los Angeles http://www.globest.com/news/12_535/losangeles/office/Trigild-Honored-for-Nearly-100M-Lease-329761.html

AuctionPoint2013 Submission Period Set

LOS ANGELES-GlobeSt.com learns exclusively that AuctionPoint2013 has announced the members of its event committee and has opened the asset submission period.

via Los Angeles http://www.globest.com/news/12_535/losangeles/acquisitions_dispositions/AuctionPoint2013-Submission-Period-Set-329745.html

MIG Snags 100,000-SF Office Building

AUSTIN-The SoCal buyer ends up with Barton Oaks Plaza I, a class A building acquired from a fund controlled by Boston-based GID Investment Advisors.

via Los Angeles http://www.globest.com/news/12_535/austin/office/MIG-Snags-100000-SF-Office-Building-329736.html

Wilson Closes $235M in Retail Sales

WOODLAND HILLS, CA-In addition to completing the $114M ROIC portfolio purchase, the firm closes more investment deals in the past six months.

via Los Angeles http://www.globest.com/news/12_535/losangeles/retail/Wilson-Closes-235M-in-Retail-Sales-329697.html

Macerich Announces Fourth Quarter Results And Earnings Guidance For 2013

SANTA MONICA, CA—The Macerich Company has announced results of operations for the fourth quarter up from year prior.

via Los Angeles http://www.globest.com/news/12_535/losangeles/Macerich-Announces-Fourth-Quarter-Results-And-Earnings-Guidance-For-2013-329722.html

Large Institutions JV with Smaller Players

LOS ANGELES-Andrew Kirsh of Sklar Kirsh LLP here tells GlobeSt.com’s Carrie Rossenfeld that large institutions and private-equity firms are seeking out middle-market players for hard-to-find deals.

via Los Angeles http://www.globest.com/news/12_534/losangeles/acquisitions_dispositions/Large-Institutions-JV-with-Smaller-Players-329693.html

Premier Business Centers Offers New Site in Century City

LOS ANGELES--New facility will include 41 executive suites and office spaces, two meeting rooms, a kitchen and business lounge and a reception/lobby area.

via Los Angeles http://www.globest.com/news/12_534/losangeles/office/Premier-Business-Centers-Offers-New-Site-in-Century-City-329692.html

Standard Pacific Reports Fourth Quarter and Full Year Results

Standard Pacific Q4 2012 Net New Orders up 60%

via Los Angeles http://www.globest.com/news/12_534/losangeles/other/Standard-Pacific-Reports-Fourth-Quarter-and-Full-Year-Results-329690.html

Partner Engineering Adds Key Additions

FRESNO, CA-Cody Taylor joins the Southern California-based firm’s new office here as principal, while Michael P. Arias joins as senior project manager in the Torrance, CA office.

via Los Angeles http://www.globest.com/news/12_534/sanfrancisco/employment/Partner-Engineering-Adds-Key-Additions-329655.html

Sklar Kirsh Fills Price Gap

LOS ANGELES-Andrew Kirsh tells GlobeSt.com’s Carrie Rossenfeld that the new entity was formed to provide the services of a large corporate and real estate transactional law firm for a more affordable fee.

via Los Angeles http://www.globest.com/news/12_534/losangeles/legal/Sklar-Kirsh-Fills-Price-Gap-329626.html

UPS Adds Nearly 800,000 SF of Specialized Healthcare Facilities to its Logisitics Network

From doses of temperature-sensitive flu vaccine, to pallets full of disposable surgical kits, UPS is expecting deliveries of medicines, medical supplies and devices to play an increasing part in its shipping business. To accommodate the expected growth, the global shipping service recently expanded its healthcare distribution network, adding nearly 800,000 square feet of specialized distribution space in five markets. It now has nearly six million...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/UPS-Adds-Nearly-800000-SF-of-Specialized-Healthcare-Facilities-to-its-Logisitics-Network/145405?ref=/News/Article/UPS-Adds-Nearly-800000-SF-of-Specialized-Healthcare-Facilities-to-its-Logisitics-Network/145405&src=rss

Westbay 'Portfolio' Closes After Year Long Disposition

The Praedium Group, along with operating partner Ocean West Capital Partners, has closed on the sale of the final remaining properties in its Westbay Portfolio. All told, the properties sold separately to a number of individual investors for an aggregate $59.3 million, or an average $201,000 per unit. Advanced Real Estate Services, Inc. acquired the last four remaining properties for $32.5 million, or about $206,000 per unit. The Eastside...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Westbay-Portfolio-Closes-After-Year-Long-Disposition/145401?ref=/News/Article/Westbay-Portfolio-Closes-After-Year-Long-Disposition/145401&src=rss

Stirling Completes Construction of Rubbermaid Facility

Stirling Capital Investments announced it has wrapped up a 176,800-square-foot expansion for Newell Rubbermaid, a tenant at the Southern California Logistics Centre (SCLC) in Victorville, CA. The expansion at the 2,500-acre industrial and commercial complex will accommodate the increased nationwide distribution needs of Rubbermaid, a tenant at SCLC since 2007 which recently committed to a 10-year lease extension. The project expanded the facility...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Stirling-Completes-Construction-of-Rubbermaid-Facility/145365?ref=/News/Article/Stirling-Completes-Construction-of-Rubbermaid-Facility/145365&src=rss

Upland Bldg Sells for $2.7M

Apollo Asset Management sold the retail property at 2419 N. Euclid Ave. in Upland, CA to Aegis Assisted Living for $2,698,000, or about $64 per square foot. The buyer is involved in the development and construction of high-end senior living communities, and they plan to convert the building for personal use. Built in 1983, the property features 41,957 square feet of retail space on 3.27 acres of land located at the northwest corner of N. Euclid...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Upland-Bldg-Sells-for-$27M/145074?ref=/News/Article/Upland-Bldg-Sells-for-$27M/145074&src=rss

Construction Complete on Rubbermaid's Industrial Expansion

Stirling Capital Investments has completed construction of a 176,800-square-foot facility expansion at Newell Rubbermaid's industrial building located at the Southern California Logistics Centre (SCLC), a 2,500-acre industrial park located in Victorville, CA. The facility enhancement was completed to accommodate the growing distribution needs of Rubbermaid, a national Fortune 500 corporation and tenant at SCLC since 2007. The firm recently completed...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Construction-Complete-on-Rubbermaids-Industrial-Expansion/145314?ref=/News/Article/Construction-Complete-on-Rubbermaids-Industrial-Expansion/145314&src=rss

CoStar's People of Note (Jan. 27-Feb. 2)

This week's People of Note includes the following markets: Atlanta, Boston, Charlotte, Hartford, Houston, Long Island, Orange County, Philadelphia, Seattle and Westchester/So. Connecticut. BOSTON, HARTFORD, LONG ISLAND, PHILADELPHIA, WESTCHESTER/SO. CONNECTICUT Regency Centers Appoints Acquisition/Disposition Head for Northeast U.S. By CoStar Research Regency Centers (NYSE:REG), a national owner, operato



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/CoStars-People-of-Note-Jan-27-Feb-2/145305?ref=/News/Article/CoStars-People-of-Note-Jan-27-Feb-2/145305&src=rss

Market Trend: Inland Empire's Office Vacancy Decreases to 13.5%

The Inland Empire Office market ended the fourth quarter 2012 with a vacancy rate of 13.5%. The vacancy rate was down over the previous quarter, with net absorption totaling positive 426,219 square feet in the fourth quarter. That compares to positive 150,143 square feet in the third quarter 2012. Vacant sublease space decreased in the quarter, ending the quarter at 151,480 square feet. Rental rates ended the fourth quarter at $18.46,...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Market-Trend-Inland-Empires-Office-Vacancy-Decreases-to-135/145275?ref=/News/Article/Market-Trend-Inland-Empires-Office-Vacancy-Decreases-to-135/145275&src=rss

Birtcher Center Bldg E Trades for $3.3M

Dmitry Burkovsky, the owner of Ohio-based Miles Transport, purchased the industrial building at 1075 Mount Vernon Ave. in Riverside, CA for $3.25 million, or about $81 per square foot, from Cornerstone Real Estate Advisers LLC. The trucking company will be relocating from a location in Rialto. Built in 2008, the property totals 39,900 square feet on 2.3 acres, part of the Birtcher Center at Mount Vernon Business Park located at the corner of...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Birtcher-Center-Bldg-E-Trades-for-$33M/145116?ref=/News/Article/Birtcher-Center-Bldg-E-Trades-for-$33M/145116&src=rss

Colony Apartments Sell for $22.1M

JH Real Estate Partners purchased The Colony Apartments at 102 N. Lemon Ave. in Ontario, CA for $22.1 million, or about $138,000 per unit, from J.H. Snyder Company. The property was 94 percent occupied at time of sale. Built in 2008, the four-building multifamily complex totals 141,916 square feet on 2.5 acres encompassing an entire block bordering E. B St., Plum Ave. and E. Holt Blvd. in the Airport Area submarket. The Colony is comprised of 80...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Colony-Apartments-Sell-for-$221M/145109?ref=/News/Article/Colony-Apartments-Sell-for-$221M/145109&src=rss

Kush Warehousing Sells Business Park for $10.4M

South West Medical Resources acquired the Grove Avenue Business Park at 1290 E. Elm St. in Ontario, CA for $10.35 million, or about $74 per square foot, from Kush Warehousing LLC. Built in 2005 on 8.1 acres in the Airport Area submarket of Inland Empire, the 140,341-square-foot property features a fully-secured yard, six grade-level and 15 dock-height doors with levelers, 30-foot clear heights and T-5 energy efficient lighting. Just minutes from...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Kush-Warehousing-Sells-Business-Park-for-$104M/145117?ref=/News/Article/Kush-Warehousing-Sells-Business-Park-for-$104M/145117&src=rss

THIS IS IT! Deadline to Submit Deals for 2012 CoStar Power Broker Awards is Feb.1!

The deadline to submit or confirm your 2012 deals before CoStar tallies all the deals that closed during the year and bestows CoStar Power Broker Awards on the winning firms and individual brokers is next week! Our research confirmed that a huge number of deals closed at year-end. Don't miss out. Make sure all your deals are accounted for before the February 1, 2013 closing date for award consideration. Each year, CoStar Group is proud to recognize...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/THIS-IS-IT!-Deadline-to-Submit-Deals-for-2012-CoStar-Power-Broker-Awards-is-Feb1!/144984?ref=/News/Article/THIS-IS-IT!-Deadline-to-Submit-Deals-for-2012-CoStar-Power-Broker-Awards-is-Feb1!/144984&src=rss

Fontana Industrial Sells for $3.2M

Mendocino Forest Products Company LLC purchased the industrial building at 13041 Union Ave. in Fontana, CA for $3.2 million, or about $59 per square foot, from a private trust. The buyer, a manufacturer and distributor of environmentally-certified lumber products, had been leasing the premises for about two years at the time of sale. Built in 1979, the rail-served warehouse property totals 53,825 square feet on 5.6 acres located at the southeast...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Fontana-Industrial-Sells-for-$32M/144752?ref=/News/Article/Fontana-Industrial-Sells-for-$32M/144752&src=rss

Watt Plaza Signs More Than $7.5 Million in Office Lease Deals

Watt leases 22,600 square feet; Spec suite program to boost new contracts in 2013.

via Los Angeles http://www.globest.com/news/12_533/losangeles/leasing/Watt-Plaza-Signs-More-Than-75-Million-in-Office-Lease-Deals-329677.html

Quantum Capital Arranges Financing for Fashion District Properties

BEVERLY HILLS, CA–Loans include two 5-year fixed rate totaling more than $28.5M for two properties.

via Los Angeles http://www.globest.com/news/12_533/losangeles/retail/Quantum-Capital-Arranges-Financing-for-Fashion-District-Properties-329675.html

New Platform Offers Online Matching for Buyers and Sellers

NEWPORT BEACH, CA—Non-traded REITs have issued nearly $80 billion of equity during the past ten years to more than 2 million shareholders.

via Los Angeles http://www.globest.com/news/12_533/losangeles/reit/New-Platform-Offers-Online-Matching-for-Buyers-and-Sellers-329665.html

UPS Adds Nearly 800,000 SF of Specialized Healthcare Facilities to its Logisitics Network

From doses of temperature-sensitive flu vaccine, to pallets full of disposable surgical kits, UPS is expecting deliveries of medicines, medical supplies and devices to play an increasing part in its shipping business. To accommodate the expected growth, the global shipping service recently expanded its healthcare distribution network, adding nearly 800,000 square feet of specialized distribution space in five markets. It now has nearly six million...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/UPS-Adds-Nearly-800000-SF-of-Specialized-Healthcare-Facilities-to-its-Logisitics-Network/145405?ref=/News/Article/UPS-Adds-Nearly-800000-SF-of-Specialized-Healthcare-Facilities-to-its-Logisitics-Network/145405&src=rss

Westbay 'Portfolio' Closes After Year Long Disposition

The Praedium Group, along with operating partner Ocean West Capital Partners, has closed on the sale of the final remaining properties in its Westbay Portfolio. All told, the properties sold separately to a number of individual investors for an aggregate $59.3 million, or an average $201,000 per unit. Advanced Real Estate Services, Inc. acquired the last four remaining properties for $32.5 million, or about $206,000 per unit. The Eastside...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Westbay-Portfolio-Closes-After-Year-Long-Disposition/145401?ref=/News/Article/Westbay-Portfolio-Closes-After-Year-Long-Disposition/145401&src=rss

Limoneira Receives Approval for Santa Paula's East Gateway Project

Company to proceed with its 550-acre planned community project when annexation is complete.

via Los Angeles http://www.globest.com/news/12_533/losangeles/development/Limoneira-Santa-Paula-East-Gateway-Project-329647.html

AHG Breaks Ground on Arbor Green

CARSON, CA-The developer partners with the City of Carson to develop and manage the three-story affordable family community here.

via Los Angeles http://www.globest.com/news/12_533/losangeles/multifamily/AHG-Breaks-Ground-on-Arbor-Green-329621.html

Stirling Completes Construction of Rubbermaid Facility

Stirling Capital Investments announced it has wrapped up a 176,800-square-foot expansion for Newell Rubbermaid, a tenant at the Southern California Logistics Centre (SCLC) in Victorville, CA. The expansion at the 2,500-acre industrial and commercial complex will accommodate the increased nationwide distribution needs of Rubbermaid, a tenant at SCLC since 2007 which recently committed to a 10-year lease extension. The project expanded the facility...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Stirling-Completes-Construction-of-Rubbermaid-Facility/145365?ref=/News/Article/Stirling-Completes-Construction-of-Rubbermaid-Facility/145365&src=rss

Shipping Line Invests Further at Port of Long Beach

LONG BEACH, CA—The world’s second-largest ocean cargo line — Mediterranean Shipping Co. — has increased its investments at the Port of Long Beach, its biggest West Coast hub of operations.

via Los Angeles http://www.globest.com/news/12_532/losangeles/industrial/Shipping-Line-Invests-Further-at-Port-of-Long-Beach-329572.html

Upland Bldg Sells for $2.7M

Apollo Asset Management sold the retail property at 2419 N. Euclid Ave. in Upland, CA to Aegis Assisted Living for $2,698,000, or about $64 per square foot. The buyer is involved in the development and construction of high-end senior living communities, and they plan to convert the building for personal use. Built in 1983, the property features 41,957 square feet of retail space on 3.27 acres of land located at the northwest corner of N. Euclid...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Upland-Bldg-Sells-for-$27M/145074?ref=/News/Article/Upland-Bldg-Sells-for-$27M/145074&src=rss

L.A. Industrial Strongest in US

LOS ANGELES-The L.A. industrial market currently performs stronger than any other in the country, say speakers at the AIR market review and forecast.

via Los Angeles http://www.globest.com/news/12_532/losangeles/industrial/LA-Industrial-Strongest-in-US-329562.html

GSP's Long Alliances Foster Success

LOS ANGELES-The firm’s completion of its 12th deal with DJM Capital Partners is typical of its client relationships in this update to an earlier story.

via Los Angeles http://www.globest.com/news/12_532/losangeles/finance/GSPs-Long-Alliances-Foster-Success-329518.html

Construction Complete on Rubbermaid's Industrial Expansion

Stirling Capital Investments has completed construction of a 176,800-square-foot facility expansion at Newell Rubbermaid's industrial building located at the Southern California Logistics Centre (SCLC), a 2,500-acre industrial park located in Victorville, CA. The facility enhancement was completed to accommodate the growing distribution needs of Rubbermaid, a national Fortune 500 corporation and tenant at SCLC since 2007. The firm recently completed...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Construction-Complete-on-Rubbermaids-Industrial-Expansion/145314?ref=/News/Article/Construction-Complete-on-Rubbermaids-Industrial-Expansion/145314&src=rss

CoStar's People of Note (Jan. 27-Feb. 2)

This week's People of Note includes the following markets: Atlanta, Boston, Charlotte, Hartford, Houston, Long Island, Orange County, Philadelphia, Seattle and Westchester/So. Connecticut. BOSTON, HARTFORD, LONG ISLAND, PHILADELPHIA, WESTCHESTER/SO. CONNECTICUT Regency Centers Appoints Acquisition/Disposition Head for Northeast U.S. By CoStar Research Regency Centers (NYSE:REG), a national owner, operato



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/CoStars-People-of-Note-Jan-27-Feb-2/145305?ref=/News/Article/CoStars-People-of-Note-Jan-27-Feb-2/145305&src=rss

CBRE Arranges Three Sales Totaling Over $24M

LOS ANGELES—Says deal reflects continued demand for apartments in L.A. and Ventura counties.

via Los Angeles http://www.globest.com/news/12_531/losangeles/multifamily/CBRE-Three-Sales-Totaling-Over-24M-Los-Angeles-329506.html

General Growth Sells Woodlands Village

FLAGSTAFF, AZ-The Chicago company, operating under the entity name PDC Community Centers, sells the 92,000-SF shopping center to Kornwasser for $17M.

via Los Angeles http://www.globest.com/news/12_531/phoenix/retail/General-Growth-Sells-Woodlands-Village-329482.html

MF Fetches Lowest Cap Rate for Zip Code

LOS ANGELES-The property at 1522 S. Hayworth Ave. here trades at a cost of $228 per square foot in this week’s wrap-up of deals.

via Los Angeles http://www.globest.com/news/12_531/losangeles/office/MF-Fetches-Lowest-Cap-Rate-for-Zip-Code-329456.html