CoStar's People of Note (June 23 - 29)

This week's People of Note includes the following markets: Chicago, Northern New Jersey, Atlanta, Indianapolis, Washington DC, Austin, South Florida, Orange County CA, and Houston. GLOBAL JLL Promotes 35 International Directors By Justin Sumner Jones Lang LaSalle (NYSE: JLL) has promoted 35 colleagues across the globe to the firm's top leadership group, naming them international directors for 2013. "Our new inte



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/CoStars-People-of-Note-June-23-29/149870?ref=/News/Article/CoStars-People-of-Note-June-23-29/149870&src=rss

Thorofare Capital Adds Fund, Executives

LOS ANGELES-Thorofare Capital adds two new hires and plans its third fund for release in the fourth quarter, with a target of $300M.

via Los Angeles http://www.globest.com/news/12_636/losangeles/finance/Thorofare-Capital-Adds-Fund-Executives-335058.html

CBRE: L.A. Office Vacancy Unchanged

LOS ANGELES-CBRE's Q2 report on office and industrial vacancy shows office vacancy unchanged, but industrial showing good absorption.

via Los Angeles http://www.globest.com/news/12_636/losangeles/economy/CBRE-LA-Office-Vacancy-Unchanged-Industrial-Up-335060.html

Charles Dunn Completes Multifamily Sales in Koreatown

LOS ANGELES-Three Properties are clustered near Wilshire Boulevard, the Wilshire/Normandie metro, and the former Ambassador Hotel site, which is currently the Robert F. Kennedy Community Schools complex.

via Los Angeles http://www.globest.com/news/12_636/losangeles/multifamily/Charles-Dunn-Completes-Multifamily-Sales-in-Koreatown-335057.html

CoStar's People of Note (June 23 - 29)

This week's People of Note includes the following markets: Chicago, Northern New Jersey, Atlanta, Indianapolis, Washington DC, Austin, South Florida, Orange County CA, and Houston. GLOBAL JLL Promotes 35 International Directors By Justin Sumner Jones Lang LaSalle (NYSE: JLL) has promoted 35 colleagues across the globe to the firm's top leadership group, naming them international directors for 2013. "Our new inte



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/CoStars-People-of-Note-June-23-29/149870?ref=/News/Article/CoStars-People-of-Note-June-23-29/149870&src=rss

Continental Funding Drives $50M Refi

GLENDALE, CA-Continental Funding Group has arranged a $50-million refinancing of a bridge loan secured by the Embassy Suites hotel here.

via Los Angeles http://www.globest.com/news/12_636/losangeles/hotel/Continental-Funding-Drives-50M-Refi-335037.html

JV Reaches Pinnacle in Burbank Media District

BURBANK, CA-A massive class-A office complex here that's leased to some of the world's biggest media companies has been purchased by a joint venture.

via Los Angeles http://www.globest.com/news/12_635/losangeles/acquisitions_dispositions/JV-Reaches-Pinnacle-in-Burbank-Media-District-335012.html

Multifamily Complex Has Small Vision

SANTA MONICA, CA-A new multifamily complex here offers 375-square-foot apartments, targeting Gen-Y tenants who prefer going out to staying in.

via Los Angeles http://www.globest.com/news/12_635/losangeles/leasing/Multifamily-Complex-Has-Small-Vision-335010.html

Sunset Vine Tower Gets Happy Ending

LOS ANGELES-A former Hollywood eyesore gets a happy ending straight out of the movies, as CIM Group sells the Sunset Vine Tower luxury apartments.

via Los Angeles http://www.globest.com/news/12_635/losangeles/acquisitions_dispositions/Sunset-Vine-Tower-Gets-Hollywood-Happy-Ending-334967.html

Hemet Retail Sells for $5.9M

Time Equities, Inc. purchased the retail center at 1111-1189 S. State St. in Hemet, CA, for $5.85 million, or about $101 per square foot, from Wohl Investment Company. The property was around 93 percent occupied at the time of sale. Built in the 1970s, the asset totals 58,034 square feet on 5.1 acres, part of the Sprouts-anchored Diamond Valley Shopping Center at the southwest corner of S. State St. and W. Stetson Ave. Eric Wohl of Hanley Investment...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Hemet-Retail-Sells-for-$59M/149293?ref=/News/Article/Hemet-Retail-Sells-for-$59M/149293&src=rss

Iconic Surf Shop Refi's, Dude

REDONDO BEACH, CA-The iconic Dive n' Surf shop, home to the original wetsuit and a part of SoCal surfing culture since 1953, has obtained a $3 million refinancing. It will expand its retail store and corporate offices.

via Los Angeles http://www.globest.com/news/12_634/losangeles/retail/Iconic-Surf-Shop-Refis-Dude-334950.html

Casden Wins Court Ruling Over JV

LOS ANGELES-Developer Alan Casden has won a favorable ruling in a court case involving former partner Cerberus Partners LP. The dispute was over a JV loan.

via Los Angeles http://www.globest.com/news/12_634/losangeles/legal/Casden-Wins-Court-Ruling-Over-JV-334945.html

Hemet Retail Sells for $5.9M

Time Equities, Inc. purchased the retail center at 1111-1189 S. State St. in Hemet, CA, for $5.85 million, or about $101 per square foot, from Wohl Investment Company. The property was around 93 percent occupied at the time of sale. Built in the 1970s, the asset totals 58,034 square feet on 5.1 acres, part of the Sprouts-anchored Diamond Valley Shopping Center at the southwest corner of S. State St. and W. Stetson Ave. Eric Wohl of Hanley Investment...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Hemet-Retail-Sells-for-$59M/149293?ref=/News/Article/Hemet-Retail-Sells-for-$59M/149293&src=rss

CBRE Inks Year's Largest Miami Industrial Sale

MIAMI—In the largest industrial trade in Miami for more than a year, an 11-building portfolio in Medley has changed hands. The price was $59.85 million, or $71 per square foot. Get the details.

via Los Angeles http://www.globest.com/news/12_634/miami/industrial/CBRE-Inks-Years-Largest-Miami-Industrial-Sale-334938.html

Feed-in Frenzy Begins in L.A.

LOS ANGELES-The L.A. Dept. of Water and Power launches its feed-in tariffs program today. It allows solar users to sell excess energy back to the grid.

via Los Angeles http://www.globest.com/news/12_634/losangeles/development/Feed-in-Frenzy-Begins-in-LA-334917.html

Attack of the Prefab Homes

LOS ANGELES-Blu Homes, which makes prefabricated homes, is opening its first model home in L.A. County in Agoura Hills.

via Los Angeles http://www.globest.com/news/12_633/losangeles/development/Attack-of-the-Prefab-Homes-334892.html

DFS Brings Lux Retail to LAX

LOS ANGELES-The DFS Group plans to add luxury retailers to the new Bradley Terminal, many atypical of airport outlets.

via Los Angeles http://www.globest.com/news/12_633/losangeles/leasing/DFS-Brings-Lux-Retail-to-LAX-334889.html

K-town Twin Towers Hit New Heights

LOS ANGELES-The twin towers of the Vermont, a 464-unit mixed-use retail/residential project, will have its top floors begin construction this week. A ceremony marking the occasion will take place Thursday.

via Los Angeles http://www.globest.com/news/12_633/losangeles/development/K-town-Twin-Towers-to-be-Topped-334868.html

Paramount Twins Go Separate Ways

PARAMOUNT, CA-In separate deals, two different owners are picking up Paramount Town Center East and West retail assets.

via Los Angeles http://www.globest.com/news/12_632/losangeles/acquisitions_dispositions/Paramount-Twins-Go-Separate-Ways-334852.html

Federal Reserve Remarks Already Impacts SoCal

LOS ANGELES-NorthMarq executive Michel Elmore says recent remarks from Federal Reserve chairman Ben Bernanke are already affecting Southern California deals.

via Los Angeles http://www.globest.com/news/12_632/losangeles/finance/Federal-Reserve-Remarks-Already-Impacts-SoCal-334850.html

Developer Gets Missing Link for Biz Park

POMONA, CA-Seventh Street Development has purchased a 22.5-acre land parcel. It will be used for the final phase of development in the Mission 71 Business Park.

via Los Angeles http://www.globest.com/news/12_632/losangeles/development/Developer-Gets-Missing-Link-for-Biz-Park-334793.html

HFF Named to Market Retail Power Center

LOS ANGELES, CA-Center includes a Lowe's anchor, and and 211,000 square-feet of total space. Currently 84% occupied.

via Los Angeles http://www.globest.com/news/12_632/losangeles/retail/HFF-Named-to-Market-Retail-Power-Center-334773.html

CoStar's People of Note (June 16 - 22)

This week's People of Note includes the following markets: California, San Francisco, New York City, East Bay, Washington DC, Houston, and Atlanta. CALIFORNIA DTZ Expands Global Services with Four New Executive Hires By Justin Sumner DTZ, a UGL Company and leading global services firm, has expanded its Global Corporate Services (GCS) Americas Group with four new h



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DTZ Expands Global Services with Four New Executive Hires

DTZ, a UGL Company and leading global services firm, has expanded its Global Corporate Services (GCS) Americas Group with four new hires in California. Antonia Cardone (pictured, top left) will head the group's West Coast workplace strategy team, based in San Francisco. Cardone's team will create strategic plans to optimize space utilization and create dynamic, flexible workplace environments and "future-ready" buildings and portfolios. Cardone...



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Bixby Land Buys Corona Office Bldg., Lands 50,000 SF Tenant

Sourcing the market for a suitable location for Atkinson/Walsh, the design-build joint venture that won a $632 million contract from the Riverside County Transportation Commission (RCTC) to oversee the SR-91 corridor improvement project, Bixby Land Co. found what it needed in 2455 Anselmo Dr., a three-story, 75,426-square-foot office building in Corono, CA. Bixby bought the previously vacant office building and immediately filled two-thirds of...



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Duke Buys Logistics Portfolio From USAA

CBRE has closed the sale of a 4.86 million-square-foot portfolio of industrial logistics buildings in six states on behalf of USAA Real Estate Co. to Duke Realty (NYSE: DRE). The eight-building core portfolio of mostly single-tenant net leased buildings "was a great opportunity for Duke Realty to acquire a critical mass of bulk industrial product in a single transaction," according to a release by CBRE, which represented seller USAA in the deal...



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SCCS Signs Two Office Leases in IE

South Coast Community Services signed two separate office leases totaling 32,485 square feet. The non-profit family counseling and child-services company signed a lease for 17,963 square feet at 9500 Haven Ave. in Rancho Cucamonga, CA and a 14,522-square-foot lease at 1461 E. Cooley Dr. in Colton, CA. The company will be moving from its current location at nearby 3333 Concours in Ontario to these two new locations in the Inland Empire market...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-vi.costar.com/News/Article/SCCS-Signs-Two-Office-Leases-in-IE/149386?ref=/News/Article/SCCS-Signs-Two-Office-Leases-in-IE/149386&src=rss

Minka Lighting Signs 355,000-SF BTS Lease

Minka Lighting, Inc. has signed a 354,810-square-foot, build-to-suit industrial lease for a new location at San Michelle Rd. and Indian Ave. in Moreno Valley, CA. The tenant will be relocating from its current location at nearby 23700 Cactus Ave. Alere Property Group owns the site and is developing the property, its first build-to-suit. Minka will occupy the entire building, which will sit on 15.8 acres in Riverside County. Plans call for 44...



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CoStar's People of Note (June 9 - 15)

This week's People of Note includes the following markets: New York City, Northern New Jersey, St. Louis, Portland, and Tampa. GLOBAL Cushman & Wakefield Names Sant’Albano as Interim CEO, Replacing Rufrano By Paul Norman Cushman & Wakefield has named Carlo Barel di Sant’Albano as the interim CEO replacing Glenn Rufrano. Sant’Albano will continu



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CRE Pricing Strengthens Following Seasonal Slowdown

Commercial real estate prices resumed broad-based gains in April, shaking off the effects of a seasonal slowdown in the first quarter, according to the latest CoStar Commercial Repeat Sale Indices (CCRSI) release. The equal-weighted and value-weighted U.S. Composite Indices posted solid monthly gains in April of 1.9% and 1.1%, respectively, as market fundamentals continued to improve across all the major CRE property types. The value-weighted...



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Omni Hotels Buying Five U.S. Resorts from KSL Capital Partners

Omni Hotels & Resorts is boosting its collection of resorts with the pending purchase of five resort properties from KSL Capital Partners. The properties, which include Barton Creek Resort & Spa in Austin; La Costa Resort and Spa in Carlsbad, CA; Rancho Las Palmas Resort & Spa in Rancho Mirage, CA; The Grove Park Inn in Asheville, N.C.; and The Homestead in Hot Springs, VA, be reflagged under the Omni brand on July 1. The pending acquisition...



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Warm Sands Villa Sells for $2.8M

Campher Tree LLC purchased the Warm Sands Villa Hotel at 555 S. Warm Sands Dr. in Palm Springs, CA for $2.8 million, or $100,000 per room, from Ocotillo Properties LLC. The 28-room hospitality building totals 4,200 square feet on 0.9 acres at the northwest corner of Warm Sands Dr. and E. Camino Parocela in Riverside County. Jaime Rook of JMR Commercial Investments represented both parties in the sale. Please reference CoStar COMPS #2704571...



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Riverside Retail Sells for $2.8M

Meiberlee International, Inc. purchased the retail building at 1575 University Ave. in Riverside, CA for $2.8 million, or about $108 per square foot, from a private trust. The sale marks the seller's downleg in a 1031 exchange. The former Callaway Motorsports property totals 26,000 square feet on 4.3 acres at the northwest of University and Cranford Avenues in Riverside County. Finn Comer and Michael Wolfe of Lee & Associates represented...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-vi.costar.com/News/Article/Riverside-Retail-Sells-for-$28M/149065?ref=/News/Article/Riverside-Retail-Sells-for-$28M/149065&src=rss

Market Trend: Select Top Three Inland Empire Retail Leases Signed in Q1 2013

The select top retail lease signed during the first quarter of 2013 in the Inland Empire market was at 14950 Bear Valley Rd. in the North San Bernardino submarket. El Super leased 39,600 square feet there. Los Angeles Commercial represented the landlord. Harbor Freight Tools leased 16,948 square feet at Murrieta Plaza in the South Riverside submarket. Lee & Associates represented the landlord, and SRS Real Estate Partners represented the tenant...



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Quantum Capital Arranges Loan for Distressed Office Property

SAN BERNARDINO, CA- The two-story, 85,000-square-foot office building known as Three Carnegie Plaza, was built in 1985. Expert renovator aims to improve on current 60% occupancy.

via Los Angeles http://www.globest.com/news/12_631/losangeles/office/Quantum-Capital-Arranges-Loan-for-Distressed-Office-Property-334772.html

Kennedy Wilson Closes $300M Fund

LOS ANGELES-Kennedy Wilson has closed its Kennedy Wilson Real Estate Fund IV, with capital commitments of $303 million. The fund will invest in offices, retail, multifamily and residential.

via Los Angeles http://www.globest.com/news/12_631/losangeles/finance/Kennedy-Wilson-Closes-Fund-IV-334714.html

DTZ Names Four New Execs

LOS ANGELES-DTZ has made four new hires as it continues to expand its Global Corporate Services Americas Group.

via Los Angeles http://www.globest.com/news/12_631/losangeles/employment/DTZ-Names-Four-New-Execs-334733.html

JLL Sees Rent Gap Growing

LOS ANGELES-A West side and downtown rent gap is widening. But it is not near levels that might signal the start of another recession, according to a report from Jones Lang LaSalle.

via Los Angeles http://www.globest.com/news/12_631/losangeles/leasing/JLL-Sees-Rent-Gaps-Growing-334711.html

CoStar's People of Note (June 16 - 22)

This week's People of Note includes the following markets: California, San Francisco, New York City, East Bay, Washington DC, Houston, and Atlanta. CALIFORNIA DTZ Expands Global Services with Four New Executive Hires By Justin Sumner DTZ, a UGL Company and leading global services firm, has expanded its Global Corporate Services (GCS) Americas Group with four new h



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DTZ Expands Global Services with Four New Executive Hires

DTZ, a UGL Company and leading global services firm, has expanded its Global Corporate Services (GCS) Americas Group with four new hires in California. Antonia Cardone (pictured, top left) will head the group's West Coast workplace strategy team, based in San Francisco. Cardone's team will create strategic plans to optimize space utilization and create dynamic, flexible workplace environments and "future-ready" buildings and portfolios. Cardone...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/DTZ-Expands-Global-Services-with-Four-New-Executive-Hires/149640?ref=/News/Article/DTZ-Expands-Global-Services-with-Four-New-Executive-Hires/149640&src=rss

CoStar's People of Note (June 16 - 22)

This week's People of Note includes the following markets: California, San Francisco, New York City, East Bay, Washington DC, Houston, and Atlanta. CALIFORNIA DTZ Expands Global Services with Four New Executive Hires By Justin Sumner DTZ, a UGL Company and leading global services firm, has expanded its Global Corporate Services (GCS) Americas Group with four new h



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/CoStars-People-of-Note-June-16-22/149648?ref=/News/Article/CoStars-People-of-Note-June-16-22/149648&src=rss

American Business Awards Recognizes Auction.com's Consumer Platform

IRVINE, CA-Top online real estate marketplace honored in three categories. Launch of its consumer-to-consumer platform in 2012 has succeeded in bringing buyers and sellers together.

via Los Angeles http://www.globest.com/news/12_630/losangeles/multifamily/American-Business-Awards-Recognizes-Auctioncoms-Consumer-Platform-334747.html

DTZ Expands Global Services with Four New Executive Hires

DTZ, a UGL Company and leading global services firm, has expanded its Global Corporate Services (GCS) Americas Group with four new hires in California. Antonia Cardone (pictured, top left) will head the group's West Coast workplace strategy team, based in San Francisco. Cardone's team will create strategic plans to optimize space utilization and create dynamic, flexible workplace environments and "future-ready" buildings and portfolios. Cardone...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/DTZ-Expands-Global-Services-with-Four-New-Executive-Hires/149640?ref=/News/Article/DTZ-Expands-Global-Services-with-Four-New-Executive-Hires/149640&src=rss

Bixby Land Buys Corona Office Bldg., Lands 50,000 SF Tenant

Sourcing the market for a suitable location for Atkinson/Walsh, the design-build joint venture that won a $632 million contract from the Riverside County Transportation Commission (RCTC) to oversee the SR-91 corridor improvement project, Bixby Land Co. found what it needed in 2455 Anselmo Dr., a three-story, 75,426-square-foot office building in Corono, CA. Bixby bought the previously vacant office building and immediately filled two-thirds of...



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New LAX Terminal Gets VIP Treatment

LOS ANGELES-The new Tom Bradley International Terminal at Los Angeles airport is unveiled with a gala VIP reception tonight and a public open house this weekend.

via Los Angeles http://www.globest.com/news/12_630/losangeles/development/Tom-Bradley-Terminal-Gets-Gala-Reception-334697.html

Millennium Hollywood Gets Towers Trimmed

LOS ANGELES-The City Council's Planning and Land Use Management Committee and developer Millennium Partners agree that huge towers to be built near the famed Capitol Records building will be reduced in height.

via Los Angeles http://www.globest.com/news/12_630/losangeles/development/Millennium-Project-Gets-Towers-Trimmed-334672.html

Terraces Shopping Center Sells for $37M

RANCHO PALOS VERDES, CA-The Terraces, a 172,803-square-foot community shopping center, has been sold for $37 million.

via Los Angeles http://www.globest.com/news/12_630/losangeles/acquisitions_dispositions/Terraces-Shopping-Center-Sells-for-37M-334696.html

Bixby Land Buys Corona Office Bldg., Lands 50,000 SF Tenant

Sourcing the market for a suitable location for Atkinson/Walsh, the design-build joint venture selected in May 2013 for a $632 million contract from the Riverside County Transportation Commission (RCTC) to oversee the SR-91 corridor improvement project, Bixby Land Co. found what it needed in 2455 Anselmo Dr., a three-story, 75,426-square-foot office building in Corono, CA. Bixby bought the previously vacant office building and immediately filled...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Bixby-Land-Buys-Corona-Office-Bldg-Lands-50000-SF-Tenant/149627?ref=/News/Article/Bixby-Land-Buys-Corona-Office-Bldg-Lands-50000-SF-Tenant/149627&src=rss

Duke Buys Logistics Portfolio From USAA

CBRE has closed the sale of a 4.86 million-square-foot portfolio of industrial logistics buildings in six states on behalf of USAA Real Estate Co. to Duke Realty (NYSE: DRE). The eight-building core portfolio of mostly single-tenant net leased buildings "was a great opportunity for Duke Realty to acquire a critical mass of bulk industrial product in a single transaction," according to a release by CBRE, which represented seller USAA in the deal...



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Duke Buys Logistics Portfolio From USAA

CBRE has closed the sale of a 4.86 million-square-foot portfolio of industrial logistics buildings in six states on behalf of USAA Real Estate Co. to Duke Realty (NYSE: DRE). The eight-building core portfolio of mostly single-tenant net leased buildings "was a great opportunity for Duke Realty to acquire a critical mass of bulk industrial product in a single transaction," according to a release by CBRE, which represented seller USAA in the deal...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Duke-Buys-Logistics-Portfolio-From-USAA/149600?ref=/News/Article/Duke-Buys-Logistics-Portfolio-From-USAA/149600&src=rss

CRE Pricing Strengthens Following Seasonal Slowdown

Commercial real estate prices resumed broad-based gains in April, shaking off the effects of a seasonal slowdown in the first quarter, according to the latest CoStar Commercial Repeat Sale Indices (CCRSI) release. The equal-weighted and value-weighted U.S. Composite Indices posted solid monthly gains in April of 1.9% and 1.1%, respectively, as market fundamentals continued to improve across all the major CRE property types. The value-weighted...



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NAI Capital Closes Deal on 8-Unit Building in Beverly Hills

BEVERLY HILLS, CA-Luxury building in exclusive area had not been on the market in more than 60 years.

via Los Angeles http://www.globest.com/news/12_629/losangeles/multifamily/NAI-Capital-Closes-Deal-on-8-Unit-Building-in-Beverly-Hills-334669.html

US Bank Tower Deal Closed

LOS ANGELES-In an UPDATE to our previous story, the tallest building in the West has been acquired by Singapore’s Overseas Union Enterprise Ltd. The seller is a subsidiary of MPG Office Trust.

via Los Angeles http://www.globest.com/news/12_629/losangeles/young_professionals/US-Bank-Tower-Deal-Confirmed-334656.html

Port May Set Revenue Record

LONG BEACH, CA-The Harbor Commissioners for the port of Long Beach have submitted a budget that anticipates record operating revenue. They also asked for a 6% raise in capital spending.

via Los Angeles http://www.globest.com/news/12_629/losangeles/economy/Port-May-Set-Revenue-Record-334658.html

CRE Pricing Strengthens Following Seasonal Slowdown

Commercial real estate prices resumed broad-based gains in April, shaking off the effects of a seasonal slowdown in the first quarter, according to the latest CoStar Commercial Repeat Sale Indices (CCRSI) release. The equal-weighted and value-weighted U.S. Composite Indices posted solid monthly gains in April of 1.9% and 1.1%, respectively, as market fundamentals continued to improve across all the major CRE property types. The value-weighted...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/CRE-Pricing-Strengthens-Following-Seasonal-Slowdown/149428?ref=/News/Article/CRE-Pricing-Strengthens-Following-Seasonal-Slowdown/149428&src=rss

US Bank Tower Deal Closed

LOS ANGELES-In an UPDATE to our previous story, the tallest building in the West has been acquired by Singapore’s Overseas Union Enterprise Ltd. The seller is a subsidiary of MPG Office Trust.

via Los Angeles http://www.globest.com/news/12_629/losangeles/leasing/US-Bank-Tower-Deal-Confirmed-334656.html

Lofts for Gen Y Open

GLENDALE,CA-In an UPDATE to an earlier report, Elevé Lofts & Skydeck, a housing complex targeting Gen Y, has opened. The 208-unit housing celebrated on its 26,000-square-foot sundeck.

via Los Angeles http://www.globest.com/news/12_629/losangeles/development/Lofts-for-Gen-Y-Open-334619.html

West L.A. Office, Culture of Change

LOS ANGELES-West L.A. businesses provide a mix of corporate cultures that serve different industries, audiences and employee types, which is ideal from a leasing pool perspective, says Avison Young’s Neil Resnick in an EXCLUSIVE Q&A with GlobeSt.com.

via Los Angeles http://www.globest.com/news/12_629/west/office/West-LA-Office-Culture-of-Change-334606.html

SCCS Signs Two Office Leases in IE

South Coast Community Services signed two separate office leases totaling 32,485 square feet. The non-profit family counseling and child-services company signed a lease for 17,963 square feet at 9500 Haven Ave. in Rancho Cucamonga, CA and a 14,522-square-foot lease at 1461 E. Cooley Dr. in Colton, CA. The company will be moving from its current location at nearby 3333 Concours in Ontario to these two new locations in the Inland Empire market...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/SCCS-Signs-Two-Office-Leases-in-IE/149386?ref=/News/Article/SCCS-Signs-Two-Office-Leases-in-IE/149386&src=rss

SCCS Signs Two Office Leases in IE

South Coast Community Services signed two separate office leases totaling 32,485 square feet. The non-profit family counseling and child-services company signed a lease for 17,963 square feet at 9500 Haven Ave. in Rancho Cucamonga, CA and a 14,522-square-foot lease at 1461 E. Cooley Dr. in Colton, CA. The company will be moving from its current location at nearby 3333 Concours in Ontario to these two new locations in the Inland Empire market...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/SCCS-Signs-Two-Office-Leases-in-IE/149386?ref=/News/Article/SCCS-Signs-Two-Office-Leases-in-IE/149386&src=rss

Lacy Lofts Change Hands

LOS ANGELES-The 70,000-square-foot creative office and live/work campus near downtown L.A. is acquired for $13 million.

via Los Angeles http://www.globest.com/news/12_628/losangeles/acquisitions_dispositions/Lacy-Lofts-Change-Hands-334609.html

Land Parcel to Expand Grand Park

LOS ANGELES-A land parcel adjacent to Grand Park near City Hall has been sold to the city for $7.5 million. Plans are underway to turn it into a public park.

via Los Angeles http://www.globest.com/news/12_628/losangeles/acquisitions_dispositions/Land-Parcel-to-Expand-Grand-Park-334608.html

E-Com Fuels Demand for Distribution Space

CHICAGO—Investors will have two main options, Avison Young reports. Either buy in industrial markets like LA, Indianapolis or Dallas, or dense, urban infill areas like NYC or Chicago.

via Los Angeles http://www.globest.com/news/12_628/chicago/industrial/E-Commerce-Fuels-Demand-for-Distribution-Space-334596.html

Hollywood Introduces the "Silicon Strip"

LOS ANGELES-There's a new nickname for Hollywood tech companies, which today's Hollywood Economic Summit will reveal as part of a general discussion on development and business activity in the district.

via Los Angeles http://www.globest.com/news/12_628/losangeles/economy/Hollywood-Introduces-the-Silicon-Strip-334588.html

Building With a Red Carpet View

LOS ANGELES-A three-story mixed-use building has changed hands at one of the world’s most famous intersections, Hollywood & Highland, offering a unique view of Academy Award activities.

via Los Angeles http://www.globest.com/news/12_627/losangeles/leasing/Building-With-a-Red-Carpet-View-334564.html

Shopping Center 23 Years in the Making

LOS ANGELES-A shopping center project that took 23 years to get legal clearances is finally breaking ground in South Central.

via Los Angeles http://www.globest.com/news/12_627/losangeles/legal/Shopping-Center-23-Years-in-the-Making-334560.html

Space and Baked Goods Take...Space

LOS ANGELES–Outer space and baked food were involved in big lease deals in the South Bay that saw tenants take on 233,108 square feet of industrial property

via Los Angeles http://www.globest.com/news/12_627/losangeles/leasing/Space-and-Baked-Goods-Take-Space-334536.html

Minka Lighting Signs 355,000-SF BTS Lease

Minka Lighting, Inc. has signed a 354,810-square-foot, build-to-suit industrial lease for a new location at San Michelle Rd. and Indian Ave. in Moreno Valley, CA. The tenant will be relocating from its current location at nearby 23700 Cactus Ave. Alere Property Group owns the site and is developing the property, its first build-to-suit. Minka will occupy the entire building, which will sit on 15.8 acres in Riverside County. Plans call for 44...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Minka-Lighting-Signs-355000-SF-BTS-Lease/149501?ref=/News/Article/Minka-Lighting-Signs-355000-SF-BTS-Lease/149501&src=rss

Minka Lighting Signs 355,000-SF BTS Lease

Minka Lighting, Inc. has signed a 354,810-square-foot, build-to-suit industrial lease for a new location at San Michelle Rd. and Indian Ave. in Moreno Valley, CA. The tenant will be relocating from its current location at nearby 23700 Cactus Ave. Alere Property Group owns the site and is developing the property, its first build-to-suit. Minka will occupy the entire building, which will sit on 15.8 acres in Riverside County. Plans call for 44...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Minka-Lighting-Signs-355000-SF-BTS-Lease/149501?ref=/News/Article/Minka-Lighting-Signs-355000-SF-BTS-Lease/149501&src=rss

Old Linda Vista Gets New Tenants

LOS ANGELES-The former Linda Vista Community Hospital has been transformed into senior citizen housing, and its first units are open for leasing.

via Los Angeles http://www.globest.com/news/12_626/losangeles/leasing/Old-Linda-Vista-Gets-New-Tenants-334516.html

Historic Alex Theatre Gets Facelift

GLENDALE, CA-The historic Alex Theatre has plans approved for an expansion that will make it more competitive and wean it off government subsidies.

via Los Angeles http://www.globest.com/news/12_626/losangeles/development/Historic-Alex-Theatre-Gets-Facelift-334511.html

Historic Alex Theatre Gets Facelift

GLENDALE, CA-The historic Alex Theatre has plans approved for an expansion that will make it more competitive and wean it off government subsidies.

via Los Angeles http://www.globest.com/news/12_626/losangeles/development/Historic-Alex-Theatre-Gets-Facelift-334509.html

Voit Real Estate Directs Industrial Build for Lighting Company Client

MORENO VALLEY, CA-Voit Real Estate Services team worked with Minka Lighting to find a new property in the same community. Minka will occupy the full 354,810 square feet.

via Los Angeles http://www.globest.com/news/12_626/losangeles/industrial/Voit-Real-Estate-Directs-Industrial-Build-for-Lighting-Company-Client-334510.html

CoStar's People of Note (June 9 - 15)

This week's People of Note includes the following markets: New York City, Northern New Jersey, St. Louis, Portland, and Tampa. GLOBAL Cushman & Wakefield Names Sant’Albano as Interim CEO, Replacing Rufrano By Paul Norman Cushman & Wakefield has named Carlo Barel di Sant’Albano as the interim CEO replacing Glenn Rufrano. Sant’Albano will continu



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/CoStars-People-of-Note-June-9-15/149473?ref=/News/Article/CoStars-People-of-Note-June-9-15/149473&src=rss

BPO Launches Tender Offer for MPG Stock

NEW YORK CITY-The cash-tender offer for all outstanding shares of MPG’s preferred stock is part of the merger agreement the two companies announced in April.

via Los Angeles http://www.globest.com/news/12_626/newyork/office/BPO-Launches-Tender-Offer-for-MPG-Stock-334507.html

CoStar's People of Note (June 9 - 15)

This week's People of Note includes the following markets: New York City, Northern New Jersey, St. Louis, Portland, and Tampa. GLOBAL Cushman & Wakefield Names Sant’Albano as Interim CEO, Replacing Rufrano By Paul Norman Cushman & Wakefield has named Carlo Barel di Sant’Albano as the interim CEO replacing Glenn Rufrano. Sant’Albano will continu



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/CoStars-People-of-Note-June-9-15/149473?ref=/News/Article/CoStars-People-of-Note-June-9-15/149473&src=rss

Omni Hotels Buying Five U.S. Resorts from KSL Capital Partners

Omni Hotels & Resorts is boosting its collection of resorts with the pending purchase of five resort properties from KSL Capital Partners. The properties, which include Barton Creek Resort & Spa in Austin; La Costa Resort and Spa in Carlsbad, CA; Rancho Las Palmas Resort & Spa in Rancho Mirage, CA; The Grove Park Inn in Asheville, N.C.; and The Homestead in Hot Springs, VA, be reflagged under the Omni brand on July 1. The pending acquisition...



via Inland Empire Commercial Real Estate News From CoStar Group http://seattle.costargroup.com/News/Article/Omni-Hotels-Buying-Five-US-Resorts-from-KSL-Capital-Partners/149434?ref=/News/Article/Omni-Hotels-Buying-Five-US-Resorts-from-KSL-Capital-Partners/149434&src=rss

Warm Sands Villa Sells for $2.8M

Campher Tree LLC purchased the Warm Sands Villa Hotel at 555 S. Warm Sands Dr. in Palm Springs, CA for $2.8 million, or $100,000 per room, from Ocotillo Properties LLC. The 28-room hospitality building totals 4,200 square feet on 0.9 acres at the northwest corner of Warm Sands Dr. and E. Camino Parocela in Riverside County. Jaime Rook of JMR Commercial Investments represented both parties in the sale. Please reference CoStar COMPS #2704571...



via Inland Empire Commercial Real Estate News From CoStar Group http://seattle.costargroup.com/News/Article/Warm-Sands-Villa-Sells-for-$28M/149069?ref=/News/Article/Warm-Sands-Villa-Sells-for-$28M/149069&src=rss

Riverside Retail Sells for $2.8M

Meiberlee International, Inc. purchased the retail building at 1575 University Ave. in Riverside, CA for $2.8 million, or about $108 per square foot, from a private trust. The sale marks the seller's downleg in a 1031 exchange. The former Callaway Motorsports property totals 26,000 square feet on 4.3 acres at the northwest of University and Cranford Avenues in Riverside County. Finn Comer and Michael Wolfe of Lee & Associates represented...



via Inland Empire Commercial Real Estate News From CoStar Group http://seattle.costargroup.com/News/Article/Riverside-Retail-Sells-for-$28M/149065?ref=/News/Article/Riverside-Retail-Sells-for-$28M/149065&src=rss

Market Trend: Select Top Three Inland Empire Retail Leases Signed in Q1 2013

The select top retail lease signed during the first quarter of 2013 in the Inland Empire market was at 14950 Bear Valley Rd. in the North San Bernardino submarket. El Super leased 39,600 square feet there. Los Angeles Commercial represented the landlord. Harbor Freight Tools leased 16,948 square feet at Murrieta Plaza in the South Riverside submarket. Lee & Associates represented the landlord, and SRS Real Estate Partners represented the tenant...



via Inland Empire Commercial Real Estate News From CoStar Group http://seattle.costargroup.com/News/Article/Market-Trend-Select-Top-Three-Inland-Empire-Retail-Leases-Signed-in-Q1-2013/149323?ref=/News/Article/Market-Trend-Select-Top-Three-Inland-Empire-Retail-Leases-Signed-in-Q1-2013/149323&src=rss

CoStar's People of Note (June 2 - 8)

This week's People of Note includes the following markets: South Florida, South Bay, New York City, Atlanta, Philadelphia, Texas, and the Southwestern U.S. SOUTH FLORIDA Balish Appointed to President, CEO at ARS By Justin Sumner Adler Realty Services (ARS), a division of Adler Group, has appointed Christopher Balish as president and chief executive officer. In his new role, Balish will be responsible for overseeing a



via Inland Empire Commercial Real Estate News From CoStar Group http://seattle.costargroup.com/News/Article/CoStars-People-of-Note-June-2-8/149271?ref=/News/Article/CoStars-People-of-Note-June-2-8/149271&src=rss

IMS Inks 81,000-SF Lease in OC

IMS Company, recently acquired by Zodiac Aerospace of France, has expanded at 2929 Imperial Hwy in Brea, CA in a new, seven-year, 81,077-square-foot lease there. The deal, touted as the largest office lease in Orange County, will bring the property to 100 percent occupied when it commences this November. The two-story, 121,143-square-foot office building was constructed in 1985 on 5.6 acres in the Brea / La Habra submarket of Orange County, at...



via Inland Empire Commercial Real Estate News From CoStar Group http://seattle.costargroup.com/News/Article/IMS-Inks-81000-SF-Lease-in-OC/149137?ref=/News/Article/IMS-Inks-81000-SF-Lease-in-OC/149137&src=rss

Market Trend: Select Top Five Inland Empire Industrial Leases Signed in Q1 2013

The select top industrial lease signed during the first quarter of 2013 in the Inland Empire market was at 1900 S. Rochester Ave. in the Airport Area submarket. Mobis Parts America leased 506,436 square feet there, represented by Colliers International. Cushman & Wakefield represented the landlord. Lollicup USA, Inc. leased 300,300 square feet at 6185 Kimball Ave. in the West San Bernardino submarket. Lee & Associates represented the landlord...



via Inland Empire Commercial Real Estate News From CoStar Group http://seattle.costargroup.com/News/Article/Market-Trend-Select-Top-Five-Inland-Empire-Industrial-Leases-Signed-in-Q1-2013/149055?ref=/News/Article/Market-Trend-Select-Top-Five-Inland-Empire-Industrial-Leases-Signed-in-Q1-2013/149055&src=rss

Santa Monica Civic Will Live

SANTA MONICA, CA-In an UPDATE to an earlier story, the aging Santa Monica Civic Auditorium will survive. The question is: as what?

via Los Angeles http://www.globest.com/news/12_626/losangeles/development/Santa-Monica-Civic-Will-Live-334489.html

LA Zoning To Be Updated

LOS ANGELES-A five-year effort to rewrite the city’s 67-year-old zoning code has started. A series of workshops are planned to take public testimony

via Los Angeles http://www.globest.com/news/12_625/losangeles/development/LA-Zoning-To-Be-Updated-334465.html

New Student Housing for Western U

POMONA, CA-A new mixed-use, 173,000-square-foot graduate student housing community has broken ground. The new development will be used by Western University of Health Sciences.

via Los Angeles http://www.globest.com/news/12_625/losangeles/development/New-Student-Housing-for-Western-U-334464.html

WNC Closes $46M Institutional Tax Credit Fund

IRVINE, CA-Fund has acquire 10 LIHTC Properties in California.

via Los Angeles http://www.globest.com/news/12_625/losangeles/multifamily/WNC-Closes-46M-Institutional-Tax-Credit-Fund-334454.html

Stewart Debuts New Firm, BentleyGlobal

CENTURY CITY, CA-CRE veteran Andy Stewart has launched a new CRE firm, BentleyGlobal. The firm will be based here at 1999 Ave. of the Stars.

via Los Angeles http://www.globest.com/news/12_625/losangeles/office/Stewart-Debuts-New-Firm-BentleyGlobal-334442.html

Omni Hotels Buying Five U.S. Resorts from KSL Capital Partners

Omni Hotels & Resorts is boosting its collection of resorts with the pending purchase of five resort properties from KSL Capital Partners. The properties, which include Barton Creek Resort & Spa in Austin; La Costa Resort and Spa in Carlsbad, CA; Rancho Las Palmas Resort & Spa in Rancho Mirage, CA; The Grove Park Inn in Asheville, N.C.; and The Homestead in Hot Springs, VA, be reflagged under the Omni brand on July 1. The pending acquisition...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Omni-Hotels-Buying-Five-US-Resorts-from-KSL-Capital-Partners/149434?ref=/News/Article/Omni-Hotels-Buying-Five-US-Resorts-from-KSL-Capital-Partners/149434&src=rss

Omni Hotels Buying Five U.S. Resorts from KSL Capital Partners

Omni Hotels & Resorts is boosting its collection of resorts with the pending purchase of five resort properties KSL Capital Partners. The properties, which include Barton Creek Resort & Spa in Austin; La Costa Resort and Spa in Carlsbad, CA; Rancho Las Palmas Resort & Spa in Rancho Mirage, CA; The Grove Park Inn in Asheville, N.C.; and The Homestead in Hot Springs, VA, be reflagged under the Omni brand on July 1. The pending acquisition will...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Omni-Hotels-Buying-Five-US-Resorts-from-KSL-Capital-Partners/149434?ref=/News/Article/Omni-Hotels-Buying-Five-US-Resorts-from-KSL-Capital-Partners/149434&src=rss

Colliers Initiates Electronic Surveillance

LOS ANGELES-Colliers International has a new Video Property Inspection report that collects images of clients retail stores.

via Los Angeles http://www.globest.com/news/12_624/losangeles/asset_management/Colliers-Initiates-Electronic-Surveillance-334413.html

Holiday Inn Burbank Media Center Completes Phase II Makeover

BURBANK, CA-The three-phase project will renovate all aspects of the 485 room hotel in downtown Burbank.

via Los Angeles http://www.globest.com/news/12_624/losangeles/hotel/Holiday-Inn-Burbank-Media-Center-Completes-Phase-II-Makeover-334407.html

MJS Takes Over Mayfair Hotel

LOS ANGELES-The historic Mayfair Hotel in downtown Los Angeles is getting a makeover. MJS Hotels is taking over management and supervising substantial renovations.

via Los Angeles http://www.globest.com/news/12_624/losangeles/acquisitions_dispositions/MJS-Takes-Over-Mayfair-Hotel-334406.html

Colliers Starts Multi-Cultural Team

LOS ANGELES-A new broker team focused on the Hispanic retail market joins Colliers International. The firm hopes to get better access to private investors in the niche.

via Los Angeles http://www.globest.com/news/12_624/losangeles/leasing/Colliers-Starts-Multi-Cultural-Team-334382.html

Sweet 16 for Lincoln Property Co.

LOS ANGELES-Lincoln Property Co. has partnered with Angelo, Gordon & Co. to purchase 800 Wilshire, a 16-story office building at the corner of Wilshire Blvd. and Flower St. The mixed-use building has lawyers, engineers and other professionals.

via Los Angeles http://www.globest.com/news/12_623/losangeles/acquisitions_dispositions/Sweet-16-for-Lincoln-Property-Co-334351.html

U.S. Bank Backs Senior Housing

LOS ANGELES-U.S. Bank is providing more than $55 million to develop two senior affordable housing complexes on currently vacant lots here.

via Los Angeles http://www.globest.com/news/12_623/losangeles/development/US-Bank-Backs-Senior-Housing-334350.html

Killefer Flamming Architects HitsTrifecta of Golden Nugget Awards

LOS ANGELES-The Hotel Wilshire, Mosaic Apartments, NoHo Senior Villas receive awards of merit in their respective categories.

via Los Angeles http://www.globest.com/news/12_623/losangeles/multifamily/Killefer-Flamming-Architects-HitsTrifecta-of-Golden-Nugget-Awards-334343.html

Killefer Flamming Architects Hits Tifecta of Golden Nugget Awards

LOS ANGELES-The Hotel Wilshire, Mosaic Apartments, NoHo Senior Villas receive awards of merit in their respective categories.

via Los Angeles http://www.globest.com/news/12_623/losangeles/multifamily/Killefer-Flamming-Architects-Hits-Tifecta-of-Golden-Nugget-Awards-334343.html

Amazon Fresh Rolls Out in L.A.

LOS ANGELES-Amazon Fresh, the Internet giant's attempt to enter the grocery home delivery market, rolled out Monday to select Los Angeles zip codes. It's the new service's first test outside of Seattle.

via Los Angeles http://www.globest.com/news/12_623/losangeles/economy/Amazon-Fresh-Rolls-Out-in-LA-334330.html

Warm Sands Villa Sells for $2.8M

Campher Tree LLC purchased the Warm Sands Villa Hotel at 555 S. Warm Sands Dr. in Palm Springs, CA for $2.8 million, or $100,000 per room, from Ocotillo Properties LLC. The 28-room hospitality building totals 4,200 square feet on 0.9 acres at the northwest corner of Warm Sands Dr. and E. Camino Parocela in Riverside County. Jaime Rook of JMR Commercial Investments represented both parties in the sale. Please reference CoStar COMPS #2704571...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Warm-Sands-Villa-Sells-for-$28M/149069?ref=/News/Article/Warm-Sands-Villa-Sells-for-$28M/149069&src=rss

Riverside Retail Sells for $2.8M

Meiberlee International, Inc. purchased the retail building at 1575 University Ave. in Riverside, CA for $2.8 million, or about $108 per square foot, from a private trust. The sale marks the seller's downleg in a 1031 exchange. The former Callaway Motorsports property totals 26,000 square feet on 4.3 acres at the northwest of University and Cranford Avenues in Riverside County. Finn Comer and Michael Wolfe of Lee & Associates represented...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Riverside-Retail-Sells-for-$28M/149065?ref=/News/Article/Riverside-Retail-Sells-for-$28M/149065&src=rss

Warm Sands Villa Sells for $2.8M

Campher Tree LLC purchased the Warm Sands Villa Hotel at 555 S. Warm Sands Dr. in Palm Springs, CA for $2.8 million, or $100,000 per room, from Ocotillo Properties LLC. The 28-room hospitality building totals 4,200 square feet on 0.9 acres at the northwest corner of Warm Sands Dr. and E. Camino Parocela in Riverside County. Jaime Rook of JMR Commercial Investments represented both parties in the sale. Please reference CoStar COMPS #2704571...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Warm-Sands-Villa-Sells-for-$28M/149069?ref=/News/Article/Warm-Sands-Villa-Sells-for-$28M/149069&src=rss

Riverside Retail Sells for $2.8M

Meiberlee International, Inc. purchased the retail building at 1575 University Ave. in Riverside, CA for $2.8 million, or about $108 per square foot, from a private trust. The sale marks the seller's downleg in a 1031 exchange. The former Callaway Motorsports property totals 26,000 square feet on 4.3 acres at the northwest of University and Cranford Avenues in Riverside County. Finn Comer and Michael Wolfe of Lee & Associates represented...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Riverside-Retail-Sells-for-$28M/149065?ref=/News/Article/Riverside-Retail-Sells-for-$28M/149065&src=rss

Market Trend: Select Top Three Inland Empire Retail Leases Signed in Q1 2013

The select top retail lease signed during the first quarter of 2013 in the Inland Empire market was at 14950 Bear Valley Rd. in the North San Bernardino submarket. El Super leased 39,600 square feet there. Los Angeles Commercial represented the landlord. Harbor Freight Tools leased 16,948 square feet at Murrieta Plaza in the South Riverside submarket. Lee & Associates represented the landlord, and SRS Real Estate Partners represented the tenant...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Market-Trend-Select-Top-Three-Inland-Empire-Retail-Leases-Signed-in-Q1-2013/149323?ref=/News/Article/Market-Trend-Select-Top-Three-Inland-Empire-Retail-Leases-Signed-in-Q1-2013/149323&src=rss

U.S. Bank Funds Senior Projects

LOS ANGELES-U.S. Bank has agreed to fund two senior citizen housing projects for $55 million.

via Los Angeles http://www.globest.com/news/12_622/losangeles/development/US-Bank-Funds-Senior-Projects-334296.html

Stock Market Won't Affect Housing, Banker Says

LONG BEACH, CA-A conversation with W. Henry Walker of Farmers & Merchants Bank about the current state of Southern California financing leads to some surprising conclusions.

via Los Angeles http://www.globest.com/news/12_622/losangeles/finance/Stock-Market-Wont-Affect-Housing-Banker-Says-334295.html

Market Trend: Select Top Three Inland Empire Retail Leases Signed in Q1 2013

The select top retail lease signed during the first quarter of 2013 in the Inland Empire market was at 14950 Bear Valley Rd. in the North San Bernardino submarket. El Super leased 39,600 square feet there. Los Angeles Commercial represented the landlord. Harbor Freight Tools leased 16,948 square feet at Murrieta Plaza in the South Riverside submarket. Lee & Associates represented the landlord, and SRS Real Estate Partners represented the tenant...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Market-Trend-Select-Top-Three-Inland-Empire-Retail-Leases-Signed-in-Q1-2013/149323?ref=/News/Article/Market-Trend-Select-Top-Three-Inland-Empire-Retail-Leases-Signed-in-Q1-2013/149323&src=rss

Chipotle Set to Open New ShopHouse Locations

LOS ANGELES-Two new stores to open this year and two more in 2014 in Los Angeles and DC.

via Los Angeles http://www.globest.com/news/12_622/losangeles/retail/Chipotle-Set-to-Open-New-ShopHouse-Locations-334282.html

CoStar's People of Note (June 2 - 8)

This week's People of Note includes the following markets: South Florida, South Bay, New York City, Atlanta, Philadelphia, Texas, and the Southwestern U.S. SOUTH FLORIDA Balish Appointed to President, CEO at ARS By Justin Sumner Adler Realty Services (ARS), a division of Adler Group, has appointed Christopher Balish as president and chief executive officer. In his new role, Balish will be responsible for overseeing a



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-vi.costar.com/News/Article/CoStars-People-of-Note-June-2-8/149271?ref=/News/Article/CoStars-People-of-Note-June-2-8/149271&src=rss

IMS Inks 81,000-SF Lease in OC

IMS Company, recently acquired by Zodiac Aerospace of France, has expanded at 2929 Imperial Hwy in Brea, CA in a new, seven-year, 81,077-square-foot lease there. The deal, touted as the largest office lease in Orange County, will bring the property to 100 percent occupied when it commences this November. The two-story, 121,143-square-foot office building was constructed in 1985 on 5.6 acres in the Brea / La Habra submarket of Orange County, at...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-vi.costar.com/News/Article/IMS-Inks-81000-SF-Lease-in-OC/149137?ref=/News/Article/IMS-Inks-81000-SF-Lease-in-OC/149137&src=rss

Market Trend: Select Top Five Inland Empire Industrial Leases Signed in Q1 2013

The select top industrial lease signed during the first quarter of 2013 in the Inland Empire market was at 1900 S. Rochester Ave. in the Airport Area submarket. Mobis Parts America leased 506,436 square feet there, represented by Colliers International. Cushman & Wakefield represented the landlord. Lollicup USA, Inc. leased 300,300 square feet at 6185 Kimball Ave. in the West San Bernardino submarket. Lee & Associates represented the landlord...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-vi.costar.com/News/Article/Market-Trend-Select-Top-Five-Inland-Empire-Industrial-Leases-Signed-in-Q1-2013/149055?ref=/News/Article/Market-Trend-Select-Top-Five-Inland-Empire-Industrial-Leases-Signed-in-Q1-2013/149055&src=rss

Phoenix Realty Grp Sells Cielo Vista Apts

A private investor purchased the 120-unit Cielo Vista Apartments at 1624 W. Rialto Ave. in Fontana, CA for $15 million, or $125,000 per unit, from Phoenix Realty Group. Built in 2008, the multifamily complex totals 109,344 square feet on 6.2 acres at the northeast corner of W. Rialto Ave. and N. Maple Ave. in San Bernardino County. The six-building property consists of 20 one-bedroom and 100 two-bedroom units with asking rents between $975 and...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-vi.costar.com/News/Article/Phoenix-Realty-Grp-Sells-Cielo-Vista-Apts/148859?ref=/News/Article/Phoenix-Realty-Grp-Sells-Cielo-Vista-Apts/148859&src=rss

Palm Desert Retail Sold for $1.3M

RayBrenCam Holdings LLC purchased the NAPA Auto Parts at 42100 Beacon Hill in Palm Desert, CA for $1.3 million, or about $118 per square foot, from LV Investments LLC. The buyer had been leasing the property since 2001, and approached the seller directly. Built in 2001, the retail property totals 11,000 square feet on less than one acre at the southeast corner of Beacon Hill and Mayfair Dr. in Riverside County. No brokers were involved in the...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-vi.costar.com/News/Article/Palm-Desert-Retail-Sold-for-$13M/148854?ref=/News/Article/Palm-Desert-Retail-Sold-for-$13M/148854&src=rss

Montclair Industrial Portfolio Trades for $7.2M

Rexford Industrial purchased the six-building, Benson Commerce Center at 8900-8980 Benson Ave. in Montclair, CA for $7.15 million, or about $82 per square foot, from Benson Equities LLC. Built in 1975, the business park totals 87,156 square feet on 5.2 acres at the southwest corner of Benson Ave. and 8th St. in the West San Bernardino County submarket. The asset was 84 percent leased at the time of sale. Frank Kosi of Sperry Commercial represented...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-vi.costar.com/News/Article/Montclair-Industrial-Portfolio-Trades-for-$72M/148853?ref=/News/Article/Montclair-Industrial-Portfolio-Trades-for-$72M/148853&src=rss

Palm Desert MOB Sells for $2M

The Retina Institute of California purchased the medical office building at 44139 Monterey Ave. in Palm Desert, CA for $2 million, or about $125 per square foot, from Monterey Investment Group. Built in 1995 and renovated in 2011, the property totals 15,960 square feet on 1.1 acres located at the southwest corner of Monterey Ave. and Fred Waring Dr. in Riverside County. Carol Grace of Coldwell Banker Commercial Lyle & Associates represented...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-vi.costar.com/News/Article/Palm-Desert-MOB-Sells-for-$2M/148851?ref=/News/Article/Palm-Desert-MOB-Sells-for-$2M/148851&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-vi.costar.com/News/Article/Fontana-Industrial-Sells-for-$32M/144752?ref=/News/Article/Fontana-Industrial-Sells-for-$32M/144752&src=rss

Ratkovich Sees Macy's Plaza as L.A. Heart

LOS ANGELES-In an UPDATE to our earlier story on the Macy's Plaza sale to the Ratkovich Co. for $241 million, Ratkovich Co. president/CEO Wayne Ratkovich talks with GlobeSt.com about his vision for the property and the city.

via Los Angeles http://www.globest.com/news/12_622/losangeles/development/Ratkovich-Macys-Plaza-is-The-Place-the-Ball-Would-Drop-334269.html

Eagle Group Finance Arranges Refi for Healthcare Developer

CHINO HILLS-Loan will make more conventional financing available for investment group.

via Los Angeles http://www.globest.com/news/12_622/losangeles/medical_office/Eagle-Group-Finance-Arranges-Refi-for-Healthcare-Developer-334246.html

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 (June 2 - 8)

This week's People of Note includes the following markets: South Florida, South Bay, New York City, Atlanta, Philadelphia, Texas, and the Southwestern U.S. SOUTH FLORIDA Balish Appointed to President, CEO at ARS By Justin Sumner Adler Realty Services (ARS), a division of Adler Group, has appointed Christopher Balish as president and chief executive officer. In his new role, Balish will be responsible for overseeing a



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/CoStars-People-of-Note-June-2-8/149271?ref=/News/Article/CoStars-People-of-Note-June-2-8/149271&src=rss

CoStar's People of Note (June 2 - 8)

This week's People of Note includes the following markets: South Florida, South Bay, New York City, Atlanta, Philadelphia, Texas, and the Southwestern U.S. SOUTH FLORIDA Balish Appointed to President, CEO at ARS By Justin Sumner Adler Realty Services (ARS), a division of Adler Group, has appointed Christopher Balish as president and chief executive officer. In his new role, Balish will be responsible for overseeing a



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/CoStars-People-of-Note-June-2-8/149271?ref=/News/Article/CoStars-People-of-Note-June-2-8/149271&src=rss

Splendid and Ella Moss Celebrate New HQ

LOS ANGELES-Fashion brands Splended and Ella Moss have a new corporate headquarters at Alameda Square in downtown. The CEO of EVOQ Properties promises more new tenants arriving soon.

via Los Angeles http://www.globest.com/news/12_621/losangeles/corporate_real_estate/Splendid-and-Ella-Moss-Celebrate-New-HQ-334222.html

NAIOP's I.con Digs Deep for Answers

LOS ANGELES-The final day of the NAIOP I.con: The Industrial Conference saw discussions about ports, infill development, business cycles and a shark attack.

via Los Angeles http://www.globest.com/news/12_621/losangeles/development/NAIOPs-Icon-Digs-Deep-for-Answers-334220.html

Macy's Plaza Becomes "The Bloc"

LOS ANGELES-The dowdy Macy's Plaza has been purchased for $241 million by the Ratkovich Co. and will be renamed "the Bloc." A complete makeover starts in 2014.

via Los Angeles http://www.globest.com/news/12_621/losangeles/development/Macys-Plaza-Becomes-The-Bloc-334221.html

CT Realty Plans Spec Warehouse on Prime In-fill Site

CITY OF INDUSTRY, CA- San Gabriel Valley submarket which is considered one of the most constrained industrial markets in Southern California with current market vacancy rate at approximately 2.8%.

via Los Angeles http://www.globest.com/news/12_620/losangeles/industrial/CT-Realty-Plans-Spec-Warehouse-on-Prime-In-fill-Site-334183.html

Cautious Optimism Reins at NAIOP I.con

LOS ANGELES-NAIOP's I.con: The Industrial Conference had a busy first day, with panelists offering up optimistic views tempered by cautions.

via Los Angeles http://www.globest.com/news/12_620/losangeles/economy/NAIOP-Icon-is-Optimistic-and-Pessimistic-334169.html

Terranea Resort Gets $220M Refinancing

RANCHO PALOS VERDES, CA-The 520-room Terranea Resort has been refinanced for $220 million, wiping away previous mortgages.

via Los Angeles http://www.globest.com/news/12_620/losangeles/asset_management/Terranea-Resort-Gets-220M-Refinancing-334146.html

JLL: LA Retail Faces Slow Recovery

LOS ANGELES-The Jones Lang LaSalle Retail Outlook Report says the Los Angeles market faces a slow, drawn-out recovery.

via Los Angeles http://www.globest.com/news/12_619/losangeles/leasing/JLL-LA-Retail-Faces-Slow-Recovery-334144.html

UCLA Anderson Has Gloomy Economic Outlook

LOS ANGELES-UCLA Anderson School of Management has a gloomy forecast for the national economy. But it finds some hope in housing starts and California's economy.

via Los Angeles http://www.globest.com/news/12_619/losangeles/multifamily/UCLA-Anderson-Has-Gloomy-Economic-Outlook-334138.html

NAIOP Study Says No Jobs Growth from "Onshoring"

LOS ANGELES-GlobeSt.com learns EXCLUSIVELY that a study by the NAIOP Research Foundation concludes that bringing manufacturing back to the US yields stabilization of jobs, but not net jobs growth.

via Los Angeles http://www.globest.com/news/12_619/losangeles/economy/NAIOP-Study-Claims-No-Job-Growth-from-Onshoring-334110.html

IMS Inks 81,000-SF Lease in OC

IMS Company, recently acquired by Zodiac Aerospace of France, has expanded at 2929 Imperial Hwy in Brea, CA in a new, seven-year, 81,077-square-foot lease there. The deal, touted as the largest office lease in Orange County, will bring the property to 100 percent occupied when it commences this November. The two-story, 121,143-square-foot office building was constructed in 1985 on 5.6 acres in the Brea / La Habra submarket of Orange County, at...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/IMS-Inks-81000-SF-Lease-in-OC/149137?ref=/News/Article/IMS-Inks-81000-SF-Lease-in-OC/149137&src=rss

IMS Inks 81,000-SF Lease in OC

IMS Company, recently acquired by Zodiac Aerospace of France, has expanded at 2929 Imperial Hwy in Brea, CA in a new, seven-year, 81,077-square-foot lease there. The deal, touted as the largest office lease in Orange County, will bring the property to 100 percent occupied when it commences this November. The two-story, 121,143-square-foot office building was constructed in 1985 on 5.6 acres in the Brea / La Habra submarket of Orange County, at...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/IMS-Inks-81000-SF-Lease-in-OC/149137?ref=/News/Article/IMS-Inks-81000-SF-Lease-in-OC/149137&src=rss

Two West Side Buildings Sell for $27M

SANTA MONICA, CA-Madison Partners moves a Santa Monica MOB and a Playa Vista office building for a combined price just over $52 million.

via Los Angeles http://www.globest.com/news/12_618/losangeles/acquisitions_dispositions/Two-West-Side-Buildings-Sell-for-27M-334089.html

Lincoln Scores Hollywood Lot

LOS ANGELES-Lincoln Property Co. has acquired the former Eastman Kodak Hollywood campus. They plan to renovate and secure new tenants.

via Los Angeles http://www.globest.com/news/12_618/losangeles/acquisitions_dispositions/Lincoln-Scores-Hollywood-Lot-334087.html

New Financial Fund Takes AIM

LOS ANGELES-A new private equity investment fund targets mid-market CRE with a sale, lease-back and buy-back program. The fund has already bought five industrial properties in three states.

via Los Angeles http://www.globest.com/news/12_618/losangeles/finance/New-Financial-Fund-Takes-AIM-334060.html

Macherich Co. Raises $171M in Stock Offering

SANTA MONICA, CA-The Macerich Co. has sold four malls and a mixed-use office project, netting $470 million. The company also raised $171 million last month in a common stock offering.

via Los Angeles http://www.globest.com/news/12_617/losangeles/acquisitions_dispositions/Macherich-Co-Raises-171M-in-Stock-Offering-334039.html

Non-Recourse Loans for Condos are Back

LOS ANGELES-George Smith Partners has arranged construction financing for an $11-million condominium project here. It is believed to be one of the first non-recourse loans for condo construction since the economic downturn arrived.

via Los Angeles http://www.globest.com/news/12_617/losangeles/finance/Non-Recourse-Loans-for-Condos-are-Back-334032.html

L.A. Downtown Retail at "Tipping Point"

LOS ANGELES-Downtown retail here has reached a tipping point and may soon become a major destination for shoppers on par with San Francisco and New York, claims a Brookfield Office Properties executive.

via Los Angeles http://www.globest.com/news/12_617/losangeles/leasing/LA-Downtown-Retail-at-Tipping-Point-334007.html

Market Trend: Select Top Five Inland Empire Industrial Leases Signed in Q1 2013

The select top industrial lease signed during the first quarter of 2013 in the Inland Empire market was at 1900 S. Rochester Ave. in the Airport Area submarket. Mobis Parts America leased 506,436 square feet there, represented by Colliers International. Cushman & Wakefield represented the landlord. Lollicup USA, Inc. leased 300,300 square feet at 6185 Kimball Ave. in the West San Bernardino submarket. Lee & Associates represented the landlord...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Market-Trend-Select-Top-Five-Inland-Empire-Industrial-Leases-Signed-in-Q1-2013/149055?ref=/News/Article/Market-Trend-Select-Top-Five-Inland-Empire-Industrial-Leases-Signed-in-Q1-2013/149055&src=rss