CoStar's People of Note (Aug. 25 - 31)

This week's People of Note includes the following markets: New York City, Chicago, Dallas, Raleigh-Durham, San Francisco, Los Angeles, Long Island, South Florida, Philadelphia, and St. Louis. NEW YORK CITY Sofiev-Leviev Tapped as CEO of AFI USA By Justin Sumner Real estate development company Africa Israel USA (AFI USA) has named Chagit Sofiev-Leviev as chief executive officer for the firm. In



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/CoStars-People-of-Note-Aug-25-31/151873?ref=/News/Article/CoStars-People-of-Note-Aug-25-31/151873&src=rss

Market Trend: Select Top Five Inland Empire Office Leases Signed in Q2 2013

The select top office lease signed during the second quarter of 2013 in the Inland Empire market was at Empire Corporate Plaza - Bldg 3 in the Airport Area submarket. CBRE represented the landlord in a 39,775-square-foot lease deal signed there. South Coast Community Services leased 17,963 square feet at 9500 Haven Ave. in the Airport Area submarket. MGR Real Estate represented the landlord in a direct deal with the tenant. CR England leased...



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-Office-Leases-Signed-in-Q2-2013/151884?ref=/News/Article/Market-Trend-Select-Top-Five-Inland-Empire-Office-Leases-Signed-in-Q2-2013/151884&src=rss

Knott's Soak City Changes Hands

CNL Lifestyle Properties, Inc. purchased the Knott's Soak City water park at 1500 S. Gene Autry Trl. in Palm Springs, CA from Cedar Fair LP. The lifestyle REIT buyer is expanding its attractions portfolio. Built in 1986, the oasis waterpark sits on a 21.8-acre parcel located at the southeast of S. Gene Autry Trl. and Dinah Shore Dr., around 110 miles from Los Angeles and 140 miles from San Diego. The park features 13 waterslides, a lazy river...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Knotts-Soak-City-Changes-Hands/151686?ref=/News/Article/Knotts-Soak-City-Changes-Hands/151686&src=rss

Knott's Soak City Changes Hands

CNL Lifestyle Properties, Inc. purchased the Knott's Soak City water park at 1500 S. Gene Autry Trl. in Palm Springs, CA from Cedar Fair LP. The lifestyle REIT buyer is expanding its attractions portfolio. Built in 1986, the oasis waterpark sits on a 21.8-acre parcel located at the southeast of S. Gene Autry Trl. and Dinah Shore Dr., around 110 miles from Los Angeles and 140 miles from San Diego. The park features 13 waterslides, a lazy river...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Knotts-Soak-City-Changes-Hands/151686?ref=/News/Article/Knotts-Soak-City-Changes-Hands/151686&src=rss

Market Trend: Select Top Five Inland Empire Office Leases Signed in Q2 2013

The select top office lease signed during the second quarter of 2013 in the Inland Empire market was at Empire Corporate Plaza - Bldg 3 in the Airport Area submarket. CBRE represented the landlord in a 39,775-square-foot lease deal signed there. South Coast Community Services leased 17,963 square feet at 9500 Haven Ave. in the Airport Area submarket. MGR Real Estate represented the landlord in a direct deal with the tenant. CR England leased...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Market-Trend-Select-Top-Five-Inland-Empire-Office-Leases-Signed-in-Q2-2013/151884?ref=/News/Article/Market-Trend-Select-Top-Five-Inland-Empire-Office-Leases-Signed-in-Q2-2013/151884&src=rss

CoStar's People of Note (Aug. 25 - 31)

This week's People of Note includes the following markets: New York City, Chicago, Dallas, Raleigh-Durham, San Francisco, Los Angeles, Long Island, South Florida, Philadelphia, and St. Louis. NEW YORK CITY Sofiev-Leviev Tapped as CEO of AFI USA By Justin Sumner Real estate development company Africa Israel USA (AFI USA) has named Chagit Sofiev-Leviev as chief executive officer for the firm. In



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/CoStars-People-of-Note-Aug-25-31/151873?ref=/News/Article/CoStars-People-of-Note-Aug-25-31/151873&src=rss

Winthrop Sells One Riverwalk to USAA RealCo

SAN ANTONIO-As part of its massive portfolio restructuring plan, the Boston seller disposes of the 261,000-square-foot office tower to the local buyer.

via Los Angeles http://www.globest.com/news/12_682/sanantonio/acquisitions_dispositions/Winthrop-Sells-One-Riverwalk-to-USAA-RealCo-337124.html

HP Investors Acquires Broadway Hollywood

LOS ANGELES-San Diego-based HP Investors LLC acquires its first commercial condo at Hollywood and Vine from Kennedy Wilson for an undisclosed amount.

via Los Angeles http://www.globest.com/news/12_682/losangeles/acquisitions_dispositions/HP-Investors-LLC-Acquire-Broadway-Hollywood-337110.html

Voit: Los Angeles Office Market Static

LOS ANGELES-Voit Real Estate Services' mid-quarter report reveals stagnancy in the broader Los Angeles office market.

via Los Angeles http://www.globest.com/news/12_681/losangeles/office/Voit-Los-Angeles-Office-Market-Static-337068.html

Abbey Co. Scores $42M for Corp. Center

CERRITOS, CA-The Abbey Co. sells the Cerritos Corporate Center, a 460,356-square-foot industrial business park.

via Los Angeles http://www.globest.com/news/12_680/losangeles/industrial/Abbey-Co-Scores-42M-for-Corp-Center-337030.html

Upland Office Sold for $1.1M

Nymphs & Arrows LLC purchased the office building at 1282 W. Arrow Hwy. in Upland, CA for $1.05 million, or about $96 per square foot, from Universal Bank. The buyer plans on occupying a portion of the property and lease out the rest. Built in 1986, the two-story building totals 10,928 square feet on two-thirds of an acre at the southwest corner of N. Mountain Ave. in the West San Bernardino submarket. Richard Enderlin of BRC Advisors represented...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Upland-Office-Sold-for-$11M/151673?ref=/News/Article/Upland-Office-Sold-for-$11M/151673&src=rss

Realm Group Breaks Ground on Monterey Station

Realm Group LLC, a joint venture between Realm Real Estate and The Bascom Group, has obtained debt financing and subsequently broken ground on Monterey Station, a planned 349-unit, transit-oriented multifamily community on 6.5 acres in downtown Pomona, CA. The urban infill redevelopment site at the corner of Monterey and Garey Avenues, is located near the Metrolink Station, providing access to downtown LA and the Inland Empire, as well as proximity...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Realm-Group-Breaks-Ground-on-Monterey-Station/151698?ref=/News/Article/Realm-Group-Breaks-Ground-on-Monterey-Station/151698&src=rss

Retail Market Rebounds

The Los Angeles retail market shows its greatest stability since 2008, reports a JLL video series.

via Los Angeles http://www.globest.com/news/12_679/losangeles/retail/Retail-Market-Rebounds-337007.html

Workspace Environments Experience Revamp

LOS ANGELES-Growth in the entertainment and technology industries spark a need for office spaces that promote communication and open exchange of ideas, reports Jones Lang LaSalle.

via Los Angeles http://www.globest.com/news/12_679/losangeles/office/Workspace-Environments-Experience-Revamp-336984.html

Weber Shandwick Augments Offices

WEST HOLLYWOOD, CA-Leading global public relations firm Weber Shandwick adds 8,000-square-foot office space at the Pacific Design Center's Green Building.

via Los Angeles http://www.globest.com/news/12_679/losangeles/office/Weber-Shandwick-Augments-West-Coast-Offices-336985.html

Upland Office Sold for $1.1M

Nymphs & Arrows LLC purchased the office building at 1282 W. Arrow Hwy. in Upland, CA for $1.05 million, or about $96 per square foot, from Universal Bank. The buyer plans on occupying a portion of the property and lease out the rest. Built in 1986, the two-story building totals 10,928 square feet on two-thirds of an acre at the southwest corner of N. Mountain Ave. in the West San Bernardino submarket. Richard Enderlin of BRC Advisors represented...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Upland-Office-Sold-for-$11M/151673?ref=/News/Article/Upland-Office-Sold-for-$11M/151673&src=rss

Realm Group Breaks Ground on Monterey Station

Realm Group LLC, a joint venture between Realm Real Estate and The Bascom Group, has obtained debt financing and subsequently broken ground on Monterey Station, a planned 349-unit, transit-oriented multifamily community on 6.5 acres in downtown Pomona, CA. The urban infill redevelopment site at the corner of Monterey and Garey Avenues, is located near the Metrolink Station, providing access to downtown LA and the Inland Empire, as well as proximity...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Realm-Group-Breaks-Ground-on-Monterey-Station/151698?ref=/News/Article/Realm-Group-Breaks-Ground-on-Monterey-Station/151698&src=rss

Are Appraisals Preventing Mortgage Grants?

LOS ANGELES-The disconnect between all-transactions and purchase-only home-pricing indices could be skewing lenders’ view of the housing market, according to CBRE.

via Los Angeles http://www.globest.com/news/12_678/losangeles/finance/Are-Appraisals-Making-Mortgages-Harder-to-Get-336936.html

Construction Surge Spurs New Hires

LOS ANGELES-Commercial builder Bernards adds 30 new professionals since the beginning of the year and remains in hiring mode in response to the surge in multifamily development.

via Los Angeles http://www.globest.com/news/12_678/losangeles/development/Construction-Surge-Spurs-New-Hires-336915.html

CoStar's People of Note (Aug. 18 - 24)

LOS ANGELES Olofson Promoted to Executive Vice Chairman at Cushman & Wakefield By Jooyoung Kim Cushman & Wakefield, the international, privately-held commercial real estate services firm, announced the promotion of Eric Olofson to executive vice chairman. Olofson has managed Cushman & Wakefield’s West Los Angeles office since 1999 and has been the company’s top-producing broker for the U.S. Wes



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/CoStars-People-of-Note-Aug-18-24/151659?ref=/News/Article/CoStars-People-of-Note-Aug-18-24/151659&src=rss

CoStar's People of Note (Aug. 18 - 24)

LOS ANGELES Olofson Promoted to Executive Vice Chairman at Cushman & Wakefield By Jooyoung Kim Cushman & Wakefield, the international, privately-held commercial real estate services firm, announced the promotion of Eric Olofson to executive vice chairman. Olofson has managed Cushman & Wakefield’s West Los Angeles office since 1999 and has been the company’s top-producing broker for the U.S. Wes



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/CoStars-People-of-Note-Aug-18-24/151659?ref=/News/Article/CoStars-People-of-Note-Aug-18-24/151659&src=rss

CoStar's People of Note (Aug. 18 - 24)

LOS ANGELES Olofson Promoted to Executive Vice Chairman at Cushman & Wakefield By Jooyoung Kim Cushman & Wakefield, the international, privately-held commercial real estate services firm, announced the promotion of Eric Olofson to executive vice chairman. Olofson has managed Cushman & Wakefield’s West Los Angeles office since 1999 and has been the company’s top-producing broker for the U.S. Wes



via Inland Empire Commercial Real Estate News From CoStar Group http://seattle.costargroup.com/News/Article/CoStars-People-of-Note-Aug-18-24/151659?ref=/News/Article/CoStars-People-of-Note-Aug-18-24/151659&src=rss

Market Trend: Inland Empire's Industrial Deliveries, Construction and Inventory

During the second quarter 2013, six Industrial buildings totaling 2,004,577 square feet were completed in the Inland Empire market area. This compares to seven buildings totaling 1,962,079 square feet that were completed in the first quarter 2013, five buildings totaling 2,182,666 square feet completed in the fourth quarter 2012, and 3,091,179 square feet in 10 buildings completed in the third quarter 2012. There were 5,862,039 square feet...



via Inland Empire Commercial Real Estate News From CoStar Group http://seattle.costargroup.com/News/Article/Market-Trend-Inland-Empires-Industrial-Deliveries-Construction-and-Inventory/151605?ref=/News/Article/Market-Trend-Inland-Empires-Industrial-Deliveries-Construction-and-Inventory/151605&src=rss

Fontana Industrial Trades for $33.6M

Office Star Products purchased the industrial property at 10651 Elm Ave. in Fontana, CA for $33.6 million, or about $74 per square foot, from developer Overton Moore Properties. The Ontario-based office products manufacturer is expanding its distribution facilities. Built in 2012, the property totals 454,016 square feet on 18.9 acres at the southeast corner of Elm Ave. and Slover Ave. in the Airport Area submarket. Steven Bellitti, Thomas...



via Inland Empire Commercial Real Estate News From CoStar Group http://seattle.costargroup.com/News/Article/Fontana-Industrial-Trades-for-$336M/151502?ref=/News/Article/Fontana-Industrial-Trades-for-$336M/151502&src=rss

ACT Fulfillment Signs 405,000-SF Lease in Fontana

ACT Fulfillment Center, Inc. leased the industrial building currently under construction at 11001 Etiwanda Ave. in Fontana, CA. The supply chain solutions company inked a 65-month lease commencing November 2013. When completed, the 404,730-square-foot warehouse will sit on 18.7 acres at the southeast corner of Santa Ana Ave. & Etiwanda Ave. in the Airport Area submarket, part of the Carson Etiwanda Logistics Center. The property will feature...



via Inland Empire Commercial Real Estate News From CoStar Group http://seattle.costargroup.com/News/Article/ACT-Fulfillment-Signs-405000-SF-Lease-in-Fontana/151501?ref=/News/Article/ACT-Fulfillment-Signs-405000-SF-Lease-in-Fontana/151501&src=rss

Market Trend: Inland Empire's Retail Deliveries, Construction and Inventory

During the second quarter 2013, 14 buildings totaling 87,669 square feet were completed in the Inland Empire retail market. Over the past four quarters, a total of 1,004,627 square feet of retail space has been built in Inland Empire. In addition to the current quarter, 12 buildings with 274,084 square feet were completed in first quarter 2013, eight buildings totaling 48,500 square feet completed in fourth quarter 2012, and 594,374 square feet...



via Inland Empire Commercial Real Estate News From CoStar Group http://seattle.costargroup.com/News/Article/Market-Trend-Inland-Empires-Retail-Deliveries-Construction-and-Inventory/151437?ref=/News/Article/Market-Trend-Inland-Empires-Retail-Deliveries-Construction-and-Inventory/151437&src=rss

Blackstone/DDR Buys Regency Shopping Center Portfolio for $332M

A partnership of Blackstone Real Estate Partners VII LP and an affiliate of DDR Corp. (NYSE: DDR) has acquired seven shopping centers in Southern California, Cincinnati, and suburbs of Washington, D.C., Portland, OR, and Harrisburg, PA. The venture bought the properties for $332 million, including assumed debt of $207 million and $28 million of new mortgage debt, from Regency Retail Partners, LP, a fund of Jacksonville, FL-based Regency Centers...



via Inland Empire Commercial Real Estate News From CoStar Group http://seattle.costargroup.com/News/Article/Blackstone-DDR-Buys-Regency-Shopping-Center-Portfolio-for-$332M/151368?ref=/News/Article/Blackstone-DDR-Buys-Regency-Shopping-Center-Portfolio-for-$332M/151368&src=rss

Shops at 395 Sells for $2.8M

Parklane Investments purchased the Shops at 395 located at 12384 Palmdale Rd. in Victorville, CA for $2.8 million, or about $142 per square foot. Built in 2007, the two buildings total 19,666 square feet on 1.6 acres. The property sold as-is, with no special sale conditions. Matt Burnett of CBRE represented the seller. Sam Kermanian of ICO Investment Group, Inc. represented the buyer. Please reference CoStar COMPS #2745031 for more information...



via Inland Empire Commercial Real Estate News From CoStar Group http://seattle.costargroup.com/News/Article/Shops-at-395-Sells-for-$28M/150757?ref=/News/Article/Shops-at-395-Sells-for-$28M/150757&src=rss

Picerne Group to Develop Inland Empire Apartment Project

The Picerne Group, a privately held real estate investment firm, has announced plans for a 298-unit apartment community at East 4th Street and Haven Avenue in Ontario, CA. The community, to be built on 11.3 acres of vacant land near Interstates 10 and 15 is less than three miles from Ontario International Airport, the Ontario Mills mall and Citizens Business Bank Arena, the largest indoor sports venue in the Inland Empire. Construction of the...



via Inland Empire Commercial Real Estate News From CoStar Group http://seattle.costargroup.com/News/Article/Picerne-Group-to-Develop-Inland-Empire-Apartment-Project/151287?ref=/News/Article/Picerne-Group-to-Develop-Inland-Empire-Apartment-Project/151287&src=rss

Market Trend: Inland Empire's Office Deliveries, Construction and Inventory

During the second quarter 2013, six buildings totaling 104,662 square feet were completed in the Inland Empire market area. This compares to three buildings totaling 35,859 square feet that were completed in the first quarter 2013, one building totaling 19,558 square feet completed in the fourth quarter 2012, and 21,403 square feet in three buildings completed in the third quarter 2012. There were 447,135 square feet of office space under construction...



via Inland Empire Commercial Real Estate News From CoStar Group http://seattle.costargroup.com/News/Article/Market-Trend-Inland-Empires-Office-Deliveries-Construction-and-Inventory/151172?ref=/News/Article/Market-Trend-Inland-Empires-Office-Deliveries-Construction-and-Inventory/151172&src=rss

Realm Scores $48M for TOD Build

POMONA, CA-Monterey Station will be a 349-unit transit-oriented apartment development on 6.5-acres in Downtown Pomona.

via Los Angeles http://www.globest.com/news/12_677/losangeles/multifamily/Realm-Scores-48M-for-TOD-Build-336829.html

Market Trend: Inland Empire's Industrial Deliveries, Construction and Inventory

During the second quarter 2013, six Industrial buildings totaling 2,004,577 square feet were completed in the Inland Empire market area. This compares to seven buildings totaling 1,962,079 square feet that were completed in the first quarter 2013, five buildings totaling 2,182,666 square feet completed in the fourth quarter 2012, and 3,091,179 square feet in 10 buildings completed in the third quarter 2012. There were 5,862,039 square feet...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Market-Trend-Inland-Empires-Industrial-Deliveries-Construction-and-Inventory/151605?ref=/News/Article/Market-Trend-Inland-Empires-Industrial-Deliveries-Construction-and-Inventory/151605&src=rss

Market Trend: Inland Empire's Industrial Deliveries, Construction and Inventory

During the second quarter 2013, six Industrial buildings totaling 2,004,577 square feet were completed in the Inland Empire market area. This compares to seven buildings totaling 1,962,079 square feet that were completed in the first quarter 2013, five buildings totaling 2,182,666 square feet completed in the fourth quarter 2012, and 3,091,179 square feet in 10 buildings completed in the third quarter 2012. There were 5,862,039 square feet...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Market-Trend-Inland-Empires-Industrial-Deliveries-Construction-and-Inventory/151605?ref=/News/Article/Market-Trend-Inland-Empires-Industrial-Deliveries-Construction-and-Inventory/151605&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

Fontana Industrial Trades for $33.6M

Office Star Products purchased the industrial property at 10651 Elm Ave. in Fontana, CA for $33.6 million, or about $74 per square foot, from developer Overton Moore Properties. The Ontario-based office products manufacturer is expanding its distribution facilities. Built in 2012, the property totals 454,016 square feet on 18.9 acres at the southeast corner of Elm Ave. and Slover Ave. in the Airport Area submarket. Steven Bellitti, Thomas...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Fontana-Industrial-Trades-for-$336M/151502?ref=/News/Article/Fontana-Industrial-Trades-for-$336M/151502&src=rss

ACT Fulfillment Signs 405,000-SF Lease in Fontana

ACT Fulfillment Center, Inc. leased the industrial building currently under construction at 11001 Etiwanda Ave. in Fontana, CA. The supply chain solutions company inked a 65-month lease commencing November 2013. When completed, the 404,730-square-foot warehouse will sit on 18.7 acres at the southeast corner of Santa Ana Ave. & Etiwanda Ave. in the Airport Area submarket, part of the Carson Etiwanda Logistics Center. The property will feature...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/ACT-Fulfillment-Signs-405000-SF-Lease-in-Fontana/151501?ref=/News/Article/ACT-Fulfillment-Signs-405000-SF-Lease-in-Fontana/151501&src=rss

Three Merge to One Urban Player

LOS ANGELES-Urban Partners, Harbor Urban, and Mack Real Estate Group will focus on urban multifamily development on the West Coast, particularly the Pacific Northwest and Southern California regions.

via Los Angeles http://www.globest.com/news/12_675/losangeles/multifamily/Three-Merge-to-One-Urban-Player-336819.html

Fontana Industrial Trades for $33.6M

Office Star Products purchased the industrial property at 10651 Elm Ave. in Fontana, CA for $33.6 million, or about $74 per square foot, from developer Overton Moore Properties. The Ontario-based office products manufacturer is expanding its distribution facilities. Built in 2012, the property totals 454,016 square feet on 18.9 acres at the southeast corner of Elm Ave. and Slover Ave. in the Airport Area submarket. Steven Bellitti, Thomas...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Fontana-Industrial-Trades-for-$336M/151502?ref=/News/Article/Fontana-Industrial-Trades-for-$336M/151502&src=rss

ACT Fulfillment Signs 405,000-SF Lease in Fontana

ACT Fulfillment Center, Inc. leased the industrial building currently under construction at 11001 Etiwanda Ave. in Fontana, CA. The supply chain solutions company inked a 65-month lease commencing November 2013. When completed, the 404,730-square-foot warehouse will sit on 18.7 acres at the southeast corner of Santa Ana Ave. & Etiwanda Ave. in the Airport Area submarket, part of the Carson Etiwanda Logistics Center. The property will feature...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/ACT-Fulfillment-Signs-405000-SF-Lease-in-Fontana/151501?ref=/News/Article/ACT-Fulfillment-Signs-405000-SF-Lease-in-Fontana/151501&src=rss

Tenants Leasing Early at 'Offices'

OXNARD, CA-Office tenants are snapping up space ahead of schedule at the Offices at the Collection, part of the Collection at RiverPark open-air specialty center here.

via Los Angeles http://www.globest.com/news/12_675/losangeles/office/Tenants-Leasing-Early-at-Offices-336808.html

L.A. Housing Slightly Less Competitive

LOS ANGELES-The buying frenzy in this red-hot market is beginning to ease as offers facing competition decreased from 86% in June to 80% in July, reports Redfin.

via Los Angeles http://www.globest.com/news/12_675/losangeles/acquisitions_dispositions/LA-Housing-Slightly-Less-Competitive-336766.html

Atlantic Terminal Center and Mall Get Wi Fi

NEW YORK CITY-The shopping complex and transportation hub will provide the free service beginning this fall.

via Los Angeles http://www.globest.com/news/12_674/newyork/retail/Atlantic-Terminal-Center-and-Mall-Get-Wi-Fi-336782.html

SRG Moves Dirt on Little Tokyo MXD

LOS ANGELES-The premium, 240-unit mixed-use apartment development will include more than 16,000 square feet of retail space and a public parking garage.

via Los Angeles http://www.globest.com/news/12_674/losangeles/multifamily/SRG-Moves-Dirt-on-Little-Tokyo-MXD-336722.html

NorthMarq Arranges Mortgage Financing for Unical Industrial Building

CITY of INDUSTRY, CA-The asset is an owner-user property containing 472,876 sq. ft. of industrial space. The loan amounts to $26.75 million.

via Los Angeles http://www.globest.com/news/12_673/losangeles/industrial/NorthMarq-Arranges-Mortgage-Financing-for-Unical-Industrial-Building-336729.html

Meridian Arranges $114M for Mixed-Use Refi

PLAYA DEL REY, CA-GlobeSt.com EXCLUSIVELY learns that numerous competitive financing offers were obtained for five-, seven-, 10- and 15-year fixed-rate terms with an array of creative structural features terms.

via Los Angeles http://www.globest.com/news/12_673/losangeles/finance/Meridian-Arranges-114M-for-Mixed-Use-Refi-336678.html

Ware Malcomb EVP Returns to OC

IRVINE, CA-Jay Todisco helped the firms grow its business and garner awards in the Midwest.

via Los Angeles http://www.globest.com/news/12_666/orangecounty/young_professionals/Ware-Malcomb-EVP-Returns-to-Irvine-Office-From-Chicago-336410.html

CoStar's People of Note (Aug. 11 - 17)

This week's People of Note includes the following markets: Minneapolis, Long Island, Atlanta, Houston, Dallas, Phoenix, Chicago, Orlando, Kansas City, New Jersey, South Florida, Los Angeles and New York City. MINNEAPOLIS Founders Finds New President, CEO By Justin Sumner Founders Properties LLC has promoted Wade Lau to president and chief executive officer. In his new role, Lau will direct the company's strategic o



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/CoStars-People-of-Note-Aug-11-17/151415?ref=/News/Article/CoStars-People-of-Note-Aug-11-17/151415&src=rss

Market Trend: Inland Empire's Retail Deliveries, Construction and Inventory

During the second quarter 2013, 14 buildings totaling 87,669 square feet were completed in the Inland Empire retail market. Over the past four quarters, a total of 1,004,627 square feet of retail space has been built in Inland Empire. In addition to the current quarter, 12 buildings with 274,084 square feet were completed in first quarter 2013, eight buildings totaling 48,500 square feet completed in fourth quarter 2012, and 594,374 square feet...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Market-Trend-Inland-Empires-Retail-Deliveries-Construction-and-Inventory/151437?ref=/News/Article/Market-Trend-Inland-Empires-Retail-Deliveries-Construction-and-Inventory/151437&src=rss

Market Trend: Inland Empire's Retail Deliveries, Construction and Inventory

During the second quarter 2013, 14 buildings totaling 87,669 square feet were completed in the Inland Empire retail market. Over the past four quarters, a total of 1,004,627 square feet of retail space has been built in Inland Empire. In addition to the current quarter, 12 buildings with 274,084 square feet were completed in first quarter 2013, eight buildings totaling 48,500 square feet completed in fourth quarter 2012, and 594,374 square feet...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Market-Trend-Inland-Empires-Retail-Deliveries-Construction-and-Inventory/151437?ref=/News/Article/Market-Trend-Inland-Empires-Retail-Deliveries-Construction-and-Inventory/151437&src=rss

CoStar's People of Note (Aug. 11 - 17)

This week's People of Note includes the following markets: Minneapolis, Long Island, Atlanta, Houston, Dallas, Phoenix, Chicago, Orlando, Kansas City, New Jersey, South Florida, Los Angeles and New York City. MINNEAPOLIS Founders Finds New President, CEO By Justin Sumner Founders Properties LLC has promoted Wade Lau to president and chief executive officer. In his new role, Lau will direct the company's strategic o



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/CoStars-People-of-Note-Aug-11-17/151415?ref=/News/Article/CoStars-People-of-Note-Aug-11-17/151415&src=rss

California REIT Acquires Class A Office Asset

ENCINO, CA-Douglas Emmett Inc. has purchased 16501 Ventura Boulevard for $61 million, or $319 per square foot.

via Los Angeles http://www.globest.com/news/12_672/losangeles/office/California-REIT-Acquires-Class-A-Office-Asset-336676.html

Diamond Completes Pacific Buy for $48M

TORRANCE, CA-The transaction comes approximately one year after Diamond Resorts International acquired Pacific Monarch Resorts Services Cos. as part of a $350-million restructuring in this weekly wrap-up of deals.

via Los Angeles http://www.globest.com/news/12_672/losangeles/hotel/Diamond-Completes-Pacific-Buy-for-48M-336640.html

32nd New South Florida Condo Tower Launches Construction

MIAMI—At least 152 new condo towers are proposed in South Florida—and construction is underway on the 31st and 32nd condo high-rises in the region. Get more stats and predictions.

via Los Angeles http://www.globest.com/news/12_671/miami/multifamily/32nd-New-South-Florida-Condo-Tower-Launches-Construction-336651.html

LTC Founder Andre Dimitriadis Dies

WESTLAKE VILLAGE, CA-The executive chairman of the board for LTC Properties, 72, passes away after a long battle with a chronic illness.

via Los Angeles http://www.globest.com/news/12_671/losangeles/medical_office/LTC-Founder-Andre-Dimitriadis-Dies-336649.html

3,500 Apt. Units Coming Online

LOS ANGELES-The Downtown Los Angeles market, which has a population of about 500,000 can easily absorb the new apartment deliveries, JLL’s Joe Leon tells GlobeSt.com.

via Los Angeles http://www.globest.com/news/12_671/losangeles/multifamily/3500-Apt-Units-Coming-Online-336592.html

Blackstone/DDR Buys Regency Shopping Center Portfolio for $332M

A partnership of Blackstone Real Estate Partners VII LP and an affiliate of DDR Corp. (NYSE: DDR) has acquired seven shopping centers in Southern California, Cincinnati, and suburbs of Washington, D.C., Portland, OR, and Harrisburg, PA. The venture bought the properties for $332 million, including assumed debt of $207 million and $28 million of new mortgage debt, from Regency Retail Partners, LP, a fund of Jacksonville, FL-based Regency Centers...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Blackstone-DDR-Buys-Regency-Shopping-Center-Portfolio-for-$332M/151368?ref=/News/Article/Blackstone-DDR-Buys-Regency-Shopping-Center-Portfolio-for-$332M/151368&src=rss

Blackstone/DDR Buys Regency Shopping Center Portfolio for $332M

A partnership of Blackstone Real Estate Partners VII LP and an affiliate of DDR Corp. (NYSE: DDR) has acquired seven shopping centers totaling 2.4 million square feet in Southern California, Washington, D.C., Portland, OR, Harrisburg, PA and Cincinnati. The venture bought the properties for $332 million, including assumed debt of $207 million and $28 million of new mortgage debt, from Regency Retail Partners, LP, a fund of Jacksonville, FL-based...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Blackstone-DDR-Buys-Regency-Shopping-Center-Portfolio-for-$332M/151368?ref=/News/Article/Blackstone-DDR-Buys-Regency-Shopping-Center-Portfolio-for-$332M/151368&src=rss

Shops at 395 Sells for $2.8M

Parklane Investments purchased the Shops at 395 located at 12384 Palmdale Rd. in Victorville, CA for $2.8 million, or about $142 per square foot. Built in 2007, the two buildings total 19,666 square feet on 1.6 acres. The property sold as-is, with no special sale conditions. Matt Burnett of CBRE represented the seller. Sam Kermanian of ICO Investment Group, Inc. represented the buyer. Please reference CoStar COMPS #2745031 for more information...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Shops-at-395-Sells-for-$28M/150757?ref=/News/Article/Shops-at-395-Sells-for-$28M/150757&src=rss

CBRE Report Says Investor Demand for Prime Boosts Global Office Values

LOS ANGELES-CBRE's Global Office Capital Value Index improved 1% in the second quarter.

via Los Angeles http://www.globest.com/news/12_670/losangeles/office/CBRE-Report-Says-Investor-Demand-for-Prime-Boosts-Global-Office-Values-336600.html

Shops at 395 Sells for $2.8M

Parklane Investments purchased the Shops at 395 located at 12384 Palmdale Rd. in Victorville, CA for $2.8 million, or about $142 per square foot. Built in 2007, the two buildings total 19,666 square feet on 1.6 acres. The property sold as-is, with no special sale conditions. Matt Burnett of CBRE represented the seller. Sam Kermanian of ICO Investment Group, Inc. represented the buyer. Please reference CoStar COMPS #2745031 for more information...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Shops-at-395-Sells-for-$28M/150757?ref=/News/Article/Shops-at-395-Sells-for-$28M/150757&src=rss

Picerne Group to Develop Inland Empire Apartment Project

The Picerne Group, a privately held real estate investment firm, has announced plans for a 298-unit apartment community at East 4th Street and Haven Avenue in Ontario, CA. The community, to be built on 11.3 acres of vacant land near Interstates 10 and 15 is less than three miles from Ontario International Airport, the Ontario Mills mall and Citizens Business Bank Arena, the largest indoor sports venue in the Inland Empire. Construction of the...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Picerne-Group-to-Develop-Inland-Empire-Apartment-Project/151287?ref=/News/Article/Picerne-Group-to-Develop-Inland-Empire-Apartment-Project/151287&src=rss

Steadfast Shells Out $92M for MF Buys

AUSTIN-Steadfast Income REIT adds the 502-unit Monterone Steiner Ranch and the 260-unit Belmont in Grand Prairie to its portfolio.

via Los Angeles http://www.globest.com/news/12_669/austin/acquisitions_dispositions/Steadfast-Shells-Out-92M-for-MF-Buys-336551.html

Vacancies Shrink in One L.A. Submarket

SHERMAN OAKS, CA-GlobeSt.com learns EXCLUSIVELY that leasing has been strong in the Los Angeles North office and industrial sectors, according to Lee & Associates.

via Los Angeles http://www.globest.com/news/12_669/losangeles/industrial/Vacancies-Shrink-in-One-LA-Submarket-336506.html

Picerne Group to Develop Inland Empire Apartment Project

The Picerne Group, a privately held real estate investment firm, has announced plans for a 298-unit apartment community at East 4th Street and Haven Avenue in Ontario, CA. The community, to be built on 11.3 acres of vacant land near Interstates 10 and 15 is less than three miles from Ontario International Airport, the Ontario Mills mall and Citizens Business Bank Arena, the largest indoor sports venue in the Inland Empire. Construction of the...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Picerne-Group-to-Develop-Inland-Empire-Apartment-Project/151287?ref=/News/Article/Picerne-Group-to-Develop-Inland-Empire-Apartment-Project/151287&src=rss

EVOQ Sharpens Focus After Reorganization

LOS ANGELES-The firm is actively pursuing its plan to be an integral part of the greater Downtown L.A. community by focusing on creative use properties there, Marty Caverly tells GlobeSt.com.

via Los Angeles http://www.globest.com/news/12_668/losangeles/office/EVOQ-Sharpens-Focus-After-Reorganization-336503.html

CoStar's People of Note (Aug. 4 - 10)

This week's People of Note includes the following markets: Phoenix, Southern California, Indianapolis, Chicago, New York City, Houston, San Francisco, Southwest Florida, and Pittsburgh. PHOENIX Velocity Appoints Coxon to COO By Justin Sumner Velocity Retail Group has appointed Greg Coxon to chief operating officer of the firm and its affiliated development company, Accelerated Development Services. In his new role,



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-vi.costar.com/News/Article/CoStars-People-of-Note-Aug-4-10/151145?ref=/News/Article/CoStars-People-of-Note-Aug-4-10/151145&src=rss

Market Trend: Inland Empire's Office Deliveries, Construction and Inventory

During the second quarter 2013, six buildings totaling 104,662 square feet were completed in the Inland Empire market area. This compares to three buildings totaling 35,859 square feet that were completed in the first quarter 2013, one building totaling 19,558 square feet completed in the fourth quarter 2012, and 21,403 square feet in three buildings completed in the third quarter 2012. There were 447,135 square feet of office space under construction...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-vi.costar.com/News/Article/Market-Trend-Inland-Empires-Office-Deliveries-Construction-and-Inventory/151172?ref=/News/Article/Market-Trend-Inland-Empires-Office-Deliveries-Construction-and-Inventory/151172&src=rss

Brookfield To Boost Industrial Property Holdings with $1.1 Billion IDI Buy

Brookfield Property Partners (NYSE:BPY) has reached an agreement to buy Atlanta-based Industrial Developments International Inc. (IDI) for $1.1 billion. IDI owns 75 industrial distribution facilities totalling 27 million square feet located in 12 states. The deal also includes IDI's third party property management business and development sites it controls that can support 49 million square feet of future warehouse distribution projects. Acquiring...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-vi.costar.com/News/Article/Brookfield-To-Boost-Industrial-Property-Holdings-with-$11-Billion-IDI-Buy/151090?ref=/News/Article/Brookfield-To-Boost-Industrial-Property-Holdings-with-$11-Billion-IDI-Buy/151090&src=rss

827 Wanamaker Sells for $3M

Allie Fitting Corp. sold the industrial property at 827 Wanamaker Ave. in Ontario, CA to a private party for more than $3 million, or about $77 per square foot. The buyer will occupy the entire building, doing business as Trans World Services, an auto parts distribution company. Built in 1989, the property totals 38,853 square feet on almost two acres of land located at the northeast corner of E. Wall St., just west of the 15 freeway, and part...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-vi.costar.com/News/Article/827-Wanamaker-Sells-for-$3M/150788?ref=/News/Article/827-Wanamaker-Sells-for-$3M/150788&src=rss

Redlands Multifamily Sells for $3.6M

Trico Development, Inc. sold the 36-unit Central Avenue Bungalows at 918-930 E. Central Ave. in Redlands, CA to private investors for $3.6 million, or about $103,000 per unit. Built in 1925, the multifamily community totals 30,000 square feet on 3.6 acres at the northwest corner of E. Citrus Ave., just off the 10 Freeway. The property consists of one three-bedroom apartment, one studio apartment, and 33 one-bedroom units. Cray Carlson of CBRE...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-vi.costar.com/News/Article/Redlands-Multifamily-Sells-for-$36M/150729?ref=/News/Article/Redlands-Multifamily-Sells-for-$36M/150729&src=rss

Honest Co Signs 131,000-SF Lease in Ontario

The Honest Company, a leading distributor of baby products, has signed a three-year industrial lease for the entire 130,562-square-foot building at 1950 S. Vintage Ave. in Ontario, CA. The lease was valued at $2 million. The single-story warehouse was built in 1989 on 5.9 acres in the Airport Area submarket of San Bernardino County. The building features 31 loading docks, 30-foot clear heights, and 2,000-amp heavy power. Brian McLoughlin and...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-vi.costar.com/News/Article/Honest-Co-Signs-131000-SF-Lease-in-Ontario/150971?ref=/News/Article/Honest-Co-Signs-131000-SF-Lease-in-Ontario/150971&src=rss

Market Trend: Inland Empire's Industrial Vacancy Stays at 6.4%

The Inland Empire Industrial market ended the second quarter 2013 with a vacancy rate of 6.4%. The vacancy rate was unchanged over the previous quarter, with net absorption totaling positive 2,014,514 square feet in the second quarter. That compares to positive 4,340,122 square feet in the first quarter 2013. Vacant sublease space decreased in the quarter, ending the quarter at 615,730 square feet. Tenants moving into large blocks of space...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-vi.costar.com/News/Article/Market-Trend-Inland-Empires-Industrial-Vacancy-Stays-at-64/150953?ref=/News/Article/Market-Trend-Inland-Empires-Industrial-Vacancy-Stays-at-64/150953&src=rss

Liberty Property Strikes Deal To Buy 23 Million SF Cabot Industrial Portfolio for $1.5 Billion

In a strategic bid to shift its portfolio to the industrial property sector and away from suburban office, Liberty Property Trust (NYSE: LRY) announced it has agreed to buy the operating partnership of Cabot Industrial Value Fund III for $1.475 billion. The transaction, which is expected to close in October of of this year, will add approximately 23 million square feet and 177 properties to the Malvern, PA-based REIT's industrial holdings. Approximately...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-vi.costar.com/News/Article/Liberty-Property-Strikes-Deal-To-Buy-23-Million-SF-Cabot-Industrial-Portfolio-for-$15-Billion/150875?ref=/News/Article/Liberty-Property-Strikes-Deal-To-Buy-23-Million-SF-Cabot-Industrial-Portfolio-for-$15-Billion/150875&src=rss

Rancho Cucamonga Industrial Sells for $9.2M

CT Realty Investors purchased the industrial property at 10401 7th St. in Rancho Cucamonga, CA for $9.21 million, or about $66 per square foot, from Waitex International, Ltd. The New York-based logistics and supply chain solutions company will lease back the entire property from the new owner. Built in 1986, the property totals 138,595 square feet on 6.1 acres located at the southwest corner of 7th St. and Haven Ave. in the Airport Area submarket...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-vi.costar.com/News/Article/Rancho-Cucamonga-Industrial-Sells-for-$92M/150713?ref=/News/Article/Rancho-Cucamonga-Industrial-Sells-for-$92M/150713&src=rss

Victor Valley Self Storage Trades For $3.3M

A family trust purchased the Victor Valley self-storage facility at 12250 Ridgecrest Rd. in Victorville, CA for $3.3 million, or about $50 per square foot, from a private trust. The sale represents the buyer's upleg in a 1031 exchange. The self-storage facility was built in 2004, totals 65,699 square feet, and sits on 4.2 acres located at the southwest corner of Ridgecrest Rd. and Lindero St., just off of Bear Valley Rd. to the north, in San...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-vi.costar.com/News/Article/Victor-Valley-Self-Storage-Trades-For-$33M/150671?ref=/News/Article/Victor-Valley-Self-Storage-Trades-For-$33M/150671&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

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://www.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 (Aug. 4 - 10)

This week's People of Note includes the following markets: Phoenix, Southern California, Indianapolis, Chicago, New York City, Houston, San Francisco, Southwest Florida, and Pittsburgh. PHOENIX Velocity Appoints Coxon to COO By Justin Sumner Velocity Retail Group has appointed Greg Coxon to chief operating officer of the firm and its affiliated development company, Accelerated Development Services. In his new role,



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/CoStars-People-of-Note-Aug-4-10/151145?ref=/News/Article/CoStars-People-of-Note-Aug-4-10/151145&src=rss

Market Trend: Inland Empire's Office Deliveries, Construction and Inventory

During the second quarter 2013, six buildings totaling 104,662 square feet were completed in the Inland Empire market area. This compares to three buildings totaling 35,859 square feet that were completed in the first quarter 2013, one building totaling 19,558 square feet completed in the fourth quarter 2012, and 21,403 square feet in three buildings completed in the third quarter 2012. There were 447,135 square feet of office space under construction...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Market-Trend-Inland-Empires-Office-Deliveries-Construction-and-Inventory/151172?ref=/News/Article/Market-Trend-Inland-Empires-Office-Deliveries-Construction-and-Inventory/151172&src=rss

Market Trend: Inland Empire's Office Deliveries, Construction and Inventory

During the second quarter 2013, six buildings totaling 104,662 square feet were completed in the Inland Empire market area. This compares to three buildings totaling 35,859 square feet that were completed in the first quarter 2013, one building totaling 19,558 square feet completed in the fourth quarter 2012, and 21,403 square feet in three buildings completed in the third quarter 2012. There were 447,135 square feet of office space under construction...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Market-Trend-Inland-Empires-Office-Deliveries-Construction-and-Inventory/151172?ref=/News/Article/Market-Trend-Inland-Empires-Office-Deliveries-Construction-and-Inventory/151172&src=rss

CoStar's People of Note (Aug. 4 - 10)

This week's People of Note includes the following markets: Phoenix, Southern California, Indianapolis, Chicago, New York City, Houston, San Francisco, Southwest Florida, and Pittsburgh. PHOENIX Velocity Appoints Coxon to COO By Justin Sumner Velocity Retail Group has appointed Greg Coxon to chief operating officer of the firm and its affiliated development company, Accelerated Development Services. In his new role,



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/CoStars-People-of-Note-Aug-4-10/151145?ref=/News/Article/CoStars-People-of-Note-Aug-4-10/151145&src=rss

L.A. Home Prices Continue Upward Trajectory

LOS ANGELES-In an UPDATE to a recent story, the rate of appreciation should cool to single digits in 2015.

via Los Angeles http://www.globest.com/news/12_667/losangeles/acquisitions_dispositions/LA-Home-Prices-Continue-Upward-Trajectory-336458.html

Growing Project Management Firm Opens Office in LA

LOS ANGELES and NEW YORK-VVA Sweett will be lead by two California market experts.

via Los Angeles http://www.globest.com/news/12_667/losangeles/Growing-Project-Management-Firm-Opens-Office-in-LA-336457.html

CIM Breaks Ground on Sunset Projects

WEST HOLLYWOOD, CA-The firm begins demolition at two development sites on Sunset Blvd. at La Cienega for a 290-room hotel and 190 residences.

via Los Angeles http://www.globest.com/news/12_667/losangeles/development/CIM-Breaks-Ground-on-Sunset-Projects-336448.html

Major Healthcare Real Estate Portfolio Could Soon Close

LOS ANGELES-According to CBRE, a buyer could soon be selected for 13 healthcare buildings known as the "Dignity Medical Office Portfolio," as Dignity Health System occupies approximately 33% of the buildings.

via Los Angeles http://www.globest.com/news/12_667/national/medical_office/Major-Healthcare-Real-Estate-Portfolio-Could-Soon-Close-336429.html

Michael Pakravan Joins Kennedy Wilson

BEVERLY HILLS, CA-GlobeSt.com learns EXCLUSIVELY that the firm has hired the seasoned retail broker as VP. Pakravan has represented landlords and tenants throughout L.A., Riverside and Orange counties.

via Los Angeles http://www.globest.com/news/12_667/losangeles/retail/Michael-Pakravan-Joins-Kennedy-Wilson-336400.html

Brookfield To Boost Industrial Property Holdings with $1.1 Billion IDI Buy

Brookfield Property Partners (NYSE:BPY) has reached an agreement to buy Atlanta-based Industrial Developments International Inc. (IDI) for $1.1 billion. IDI owns 75 industrial distribution facilities totalling 27 million square feet located in 12 states. The deal also includes IDI's third party property management business and development sites it controls that can support 49 million square feet of future warehouse distribution projects. Acquiring...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Brookfield-To-Boost-Industrial-Property-Holdings-with-$11-Billion-IDI-Buy/151090?ref=/News/Article/Brookfield-To-Boost-Industrial-Property-Holdings-with-$11-Billion-IDI-Buy/151090&src=rss

Brookfield Sells Long Beach Office for $136M

LONG BEACH, CA-The net proceeds of selling the Landmark Square office building here were approximately $61 million.

via Los Angeles http://www.globest.com/news/12_666/losangeles/office/Brookfield-Sells-Long-Beach-Office-for-136M-336442.html

LTC Completes $141M Skilled-Nursing Deal

WESTLAKE VILLAGE, CA-The loan is secured by 15 properties with a total of 2,092 licensed skilled nursing beds and 24 independent living units in Michigan.

via Los Angeles http://www.globest.com/news/12_666/losangeles/medical_office/LTC-Executes-141M-Skilled-Nursing-Portfolio-Transaction-336424.html

Ware Malcomb EVP Returns to OC

IRVINE, CA-Jay Todisco helped the firms grow its business and garner awards in the Midwest.

via Los Angeles http://www.globest.com/news/12_666/orangecounty/young_professionals/Ware-Malcomb-EVP-Returns-to-Irvine-Office-From-Chicago-336410.html

Ware Malcomb EVP Returns to Irvine Office From Chicago

IRVINE, CA-Jay Todisco helped the firms grow its business and garner awards in the Midwest.

via Los Angeles http://www.globest.com/news/12_666/losangeles/young_professionals/Ware-Malcomb-EVP-Returns-to-Irvine-Office-From-Chicago-336410.html

Studley Paints Gloomy Office Lease Picture

LOS ANGELES-The Studley Office Market and Spacedata Report says L.A. office space is still lagging most major markets in its recession recovery.

via Los Angeles http://www.globest.com/news/12_661/losangeles/leasing/Studley-Paints-Gloomy-Office-Lease-Picture-336168.html

Flight to Quality Defines R7 Merger

TORRANCE, CA-Similar philosophies and cultures make Avison Young a good fit for R7 Real Estate, Stan Yoshihara tells Carrie Rossenfeld in this UPDATE to an earlier story.

via Los Angeles http://www.globest.com/news/12_666/losangeles/asset_management/Flight-to-Quality-Defines-R7-Merger-336398.html

McCoy Joins Lee to Direct Banking Group

WEST LOS ANGELES, CA-GlobeSt.com learns EXCLUSIVELY that the banking veteran has been named director of the firm’s community banking group and will focus on advising and collaborating with community banks regarding their goals.

via Los Angeles http://www.globest.com/news/12_666/losangeles/employment/McCoy-Joins-Lee-to-Direct-Banking-Group-336355.html

Brookfield To Boost Industrial Property Holdings with $1.1 Billion IDI Buy

Brookfield Property Partners (NYSE:BPY) has reached an agreement to buy Atlanta-based Industrial Developments International Inc. (IDI) for $1.1 billion. IDI owns 75 industrial distribution facilities totalling 27 million square feet located in 12 states. The deal also includes IDI's third party property management business and development sites it controls that can support 49 million square feet of future warehouse distribution projects. Acquiring...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Brookfield-To-Boost-Industrial-Property-Holdings-with-$11-Billion-IDI-Buy/151090?ref=/News/Article/Brookfield-To-Boost-Industrial-Property-Holdings-with-$11-Billion-IDI-Buy/151090&src=rss

827 Wanamaker Sells for $3M

Allie Fitting Corp. sold the industrial property at 827 Wanamaker Ave. in Ontario, CA to a private party for more than $3 million, or about $77 per square foot. The buyer will occupy the entire building, doing business as Trans World Services, an auto parts distribution company. Built in 1989, the property totals 38,853 square feet on almost two acres of land located at the northeast corner of E. Wall St., just west of the 15 freeway, and part...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/827-Wanamaker-Sells-for-$3M/150788?ref=/News/Article/827-Wanamaker-Sells-for-$3M/150788&src=rss

Redlands Multifamily Sells for $3.6M

Trico Development, Inc. sold the 36-unit Central Avenue Bungalows at 918-930 E. Central Ave. in Redlands, CA to private investors for $3.6 million, or about $103,000 per unit. Built in 1925, the multifamily community totals 30,000 square feet on 3.6 acres at the northwest corner of E. Citrus Ave., just off the 10 Freeway. The property consists of one three-bedroom apartment, one studio apartment, and 33 one-bedroom units. Cray Carlson of CBRE...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Redlands-Multifamily-Sells-for-$36M/150729?ref=/News/Article/Redlands-Multifamily-Sells-for-$36M/150729&src=rss

827 Wanamaker Sells for $3M

Allie Fitting Corp. sold the industrial property at 827 Wanamaker Ave. in Ontario, CA to a private party for more than $3 million, or about $77 per square foot. The buyer will occupy the entire building, doing business as Trans World Services, an auto parts distribution company. Built in 1989, the property totals 38,853 square feet on almost two acres of land located at the northeast corner of E. Wall St., just west of the 15 freeway, and part...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/827-Wanamaker-Sells-for-$3M/150788?ref=/News/Article/827-Wanamaker-Sells-for-$3M/150788&src=rss

Redlands Multifamily Sells for $3.6M

Trico Development, Inc. sold the 36-unit Central Avenue Bungalows at 918-930 E. Central Ave. in Redlands, CA to private investors for $3.6 million, or about $103,000 per unit. Built in 1925, the multifamily community totals 30,000 square feet on 3.6 acres at the northwest corner of E. Citrus Ave., just off the 10 Freeway. The property consists of one three-bedroom apartment, one studio apartment, and 33 one-bedroom units. Cray Carlson of CBRE...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Redlands-Multifamily-Sells-for-$36M/150729?ref=/News/Article/Redlands-Multifamily-Sells-for-$36M/150729&src=rss

Xebec Realty Partners to Develop Industrial Business Park in Azusa

AZUSA, CA-JLL slated to lead leasing efforts at new 10th Street Center industrial park

via Los Angeles http://www.globest.com/news/12_664/losangeles/Xebec-Realty-Partners-to-Develop-Industrial-Business-Park-in-Azusa-336311.html

Consistent Prospecting Is Key to Survival

LOS ANGELES-Young professional, Blake Rogers, managing director of Charles Dunn Co., talks multifamily, development and three key principals that are key to “making it in the business in this EXCLUSIVE Q&A with GlobeSt.com.

via Los Angeles http://www.globest.com/news/12_659/losangeles/multifamily/Consistent-Prospecting-Is-Key-to-Survival-336077.html

Avison Young Buys R7 Real Estate

TORRANCE, CA-The locally based real estate property-management firm has sold its assets to Avison Young as the Canadian company further expands its business-line coverage in the Los Angeles market.

via Los Angeles http://www.globest.com/news/12_663/losangeles/acquisitions_dispositions/Avison-Young-Buys-R7-Real-Estate-336224.html

CoStar's People of Note (July 28 - Aug. 3)

This week's People of Note includes the following markets: New Jersey, Boston, New York City, Philadelphia, Dallas, Chicago, Washington DC, and Atlanta. GLOBAL Adler Named CEO of PREI By Justin Sumner Prudential Real Estate Investors (PREI) has named Eric Adler to CEO, succeeding current CEO Allen Smith. PREI, a subsidiary of Prudential Financial, Inc. (NYSE: PRU), is one of the largest real estate investment management and advisory busines



via Inland Empire Commercial Real Estate News From CoStar Group http://seattle.costargroup.com/News/Article/CoStars-People-of-Note-July-28-Aug-3/150925?ref=/News/Article/CoStars-People-of-Note-July-28-Aug-3/150925&src=rss

Honest Co Signs 131,000-SF Lease in Ontario

The Honest Company, a leading distributor of baby products, has signed a three-year industrial lease for the entire 130,562-square-foot building at 1950 S. Vintage Ave. in Ontario, CA. The lease was valued at $2 million. The single-story warehouse was built in 1989 on 5.9 acres in the Airport Area submarket of San Bernardino County. The building features 31 loading docks, 30-foot clear heights, and 2,000-amp heavy power. Brian McLoughlin and...



via Inland Empire Commercial Real Estate News From CoStar Group http://seattle.costargroup.com/News/Article/Honest-Co-Signs-131000-SF-Lease-in-Ontario/150971?ref=/News/Article/Honest-Co-Signs-131000-SF-Lease-in-Ontario/150971&src=rss

Market Trend: Inland Empire's Industrial Vacancy Stays at 6.4%

The Inland Empire Industrial market ended the second quarter 2013 with a vacancy rate of 6.4%. The vacancy rate was unchanged over the previous quarter, with net absorption totaling positive 2,014,514 square feet in the second quarter. That compares to positive 4,340,122 square feet in the first quarter 2013. Vacant sublease space decreased in the quarter, ending the quarter at 615,730 square feet. Tenants moving into large blocks of space...



via Inland Empire Commercial Real Estate News From CoStar Group http://seattle.costargroup.com/News/Article/Market-Trend-Inland-Empires-Industrial-Vacancy-Stays-at-64/150953?ref=/News/Article/Market-Trend-Inland-Empires-Industrial-Vacancy-Stays-at-64/150953&src=rss

Liberty Property Strikes Deal To Buy 23 Million SF Cabot Industrial Portfolio for $1.5 Billion

In a strategic bid to shift its portfolio to the industrial property sector and away from suburban office, Liberty Property Trust (NYSE: LRY) announced it has agreed to buy the operating partnership of Cabot Industrial Value Fund III for $1.475 billion. The transaction, which is expected to close in October of of this year, will add approximately 23 million square feet and 177 properties to the Malvern, PA-based REIT's industrial holdings. Approximately...



via Inland Empire Commercial Real Estate News From CoStar Group http://seattle.costargroup.com/News/Article/Liberty-Property-Strikes-Deal-To-Buy-23-Million-SF-Cabot-Industrial-Portfolio-for-$15-Billion/150875?ref=/News/Article/Liberty-Property-Strikes-Deal-To-Buy-23-Million-SF-Cabot-Industrial-Portfolio-for-$15-Billion/150875&src=rss

Rancho Cucamonga Industrial Sells for $9.2M

CT Realty Investors purchased the industrial property at 10401 7th St. in Rancho Cucamonga, CA for $9.21 million, or about $66 per square foot, from Waitex International, Ltd. The New York-based logistics and supply chain solutions company will lease back the entire property from the new owner. Built in 1986, the property totals 138,595 square feet on 6.1 acres located at the southwest corner of 7th St. and Haven Ave. in the Airport Area submarket...



via Inland Empire Commercial Real Estate News From CoStar Group http://seattle.costargroup.com/News/Article/Rancho-Cucamonga-Industrial-Sells-for-$92M/150713?ref=/News/Article/Rancho-Cucamonga-Industrial-Sells-for-$92M/150713&src=rss

Victor Valley Self Storage Trades For $3.3M

A family trust purchased the Victor Valley self-storage facility at 12250 Ridgecrest Rd. in Victorville, CA for $3.3 million, or about $50 per square foot, from a private trust. The sale represents the buyer's upleg in a 1031 exchange. The self-storage facility was built in 2004, totals 65,699 square feet, and sits on 4.2 acres located at the southwest corner of Ridgecrest Rd. and Lindero St., just off of Bear Valley Rd. to the north, in San...



via Inland Empire Commercial Real Estate News From CoStar Group http://seattle.costargroup.com/News/Article/Victor-Valley-Self-Storage-Trades-For-$33M/150671?ref=/News/Article/Victor-Valley-Self-Storage-Trades-For-$33M/150671&src=rss

CoStar's People of Note (July 28 - Aug. 3)

This week's People of Note includes the following markets: New Jersey, Boston, New York City, Philadelphia, Dallas, Chicago, Washington DC, and Atlanta. GLOBAL Adler Named CEO of PREI By Justin Sumner Prudential Real Estate Investors (PREI) has named Eric Adler to CEO, succeeding current CEO Allen Smith. PREI, a subsidiary of Prudential Financial, Inc. (NYSE: PRU), is one of the largest real estate investment management and advisory busines



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/CoStars-People-of-Note-July-28-Aug-3/150925?ref=/News/Article/CoStars-People-of-Note-July-28-Aug-3/150925&src=rss

Honest Co Signs 131,000-SF Lease in Ontario

The Honest Company, a leading distributor of baby products, has signed a three-year industrial lease for the entire 130,562-square-foot building at 1950 S. Vintage Ave. in Ontario, CA. The lease was valued at $2 million. The single-story warehouse was built in 1989 on 5.9 acres in the Airport Area submarket of San Bernardino County. The building features 31 loading docks, 30-foot clear heights, and 2,000-amp heavy power. Brian McLoughlin and...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Honest-Co-Signs-131000-SF-Lease-in-Ontario/150971?ref=/News/Article/Honest-Co-Signs-131000-SF-Lease-in-Ontario/150971&src=rss

Market Trend: Inland Empire's Industrial Vacancy Stays at 6.4%

The Inland Empire Industrial market ended the second quarter 2013 with a vacancy rate of 6.4%. The vacancy rate was unchanged over the previous quarter, with net absorption totaling positive 2,014,514 square feet in the second quarter. That compares to positive 4,340,122 square feet in the first quarter 2013. Vacant sublease space decreased in the quarter, ending the quarter at 615,730 square feet. Tenants moving into large blocks of space...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Market-Trend-Inland-Empires-Industrial-Vacancy-Stays-at-64/150953?ref=/News/Article/Market-Trend-Inland-Empires-Industrial-Vacancy-Stays-at-64/150953&src=rss

Honest Co Signs 131,000-SF Lease in Ontario

The Honest Company, a leading distributor of baby products, has signed a three-year industrial lease for the entire 130,562-square-foot building at 1950 S. Vintage Ave. in Ontario, CA. The lease was valued at $2 million. The single-story warehouse was built in 1989 on 5.9 acres in the Airport Area submarket of San Bernardino County. The building features 31 loading docks, 30-foot clear heights, and 2,000-amp heavy power. Brian McLoughlin and...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Honest-Co-Signs-131000-SF-Lease-in-Ontario/150971?ref=/News/Article/Honest-Co-Signs-131000-SF-Lease-in-Ontario/150971&src=rss

Market Trend: Inland Empire's Industrial Vacancy Stays at 6.4%

The Inland Empire Industrial market ended the second quarter 2013 with a vacancy rate of 6.4%. The vacancy rate was unchanged over the previous quarter, with net absorption totaling positive 2,014,514 square feet in the second quarter. That compares to positive 4,340,122 square feet in the first quarter 2013. Vacant sublease space decreased in the quarter, ending the quarter at 615,730 square feet. Tenants moving into large blocks of space...



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/Market-Trend-Inland-Empires-Industrial-Vacancy-Stays-at-64/150953?ref=/News/Article/Market-Trend-Inland-Empires-Industrial-Vacancy-Stays-at-64/150953&src=rss

CoStar's People of Note (July 28 - Aug. 3)

This week's People of Note includes the following markets: New Jersey, Boston, New York City, Philadelphia, Dallas, Chicago, Washington DC, and Atlanta. GLOBAL Adler Named CEO of PREI By Justin Sumner Prudential Real Estate Investors (PREI) has named Eric Adler to CEO, succeeding current CEO Allen Smith. PREI, a subsidiary of Prudential Financial, Inc. (NYSE: PRU), is one of the largest real estate investment management and advisory busines



via Inland Empire Commercial Real Estate News From CoStar Group http://www.costar.com/News/Article/CoStars-People-of-Note-July-28-Aug-3/150925?ref=/News/Article/CoStars-People-of-Note-July-28-Aug-3/150925&src=rss

Thomas Properties Liquidates TPG/CalSTRS JV

LOS ANGELES-In an UPDATE to an earlier story, in connection with the liquidation, TPG will make an equity contribution of approximately $163 million to TPG/CalSTRS.

via Los Angeles http://www.globest.com/news/12_661/losangeles/office/Thomas-Properties-Liquidates-TPGCalSTRS-JV-336225.html

Studley Paints Gloomy Office Lease Picture

LOS ANGELES-The Studley Office Market and Spacedata Report says L.A. office space is still lagging most major markets in its recession recovery.

via Los Angeles http://www.globest.com/news/12_661/losangeles/leasing/Studley-Paints-Gloomy-Office-Lease-Picture-336168.html

Liberty Property Strikes Deal To Buy 23 Million SF Cabot Industrial Portfolio for $1.5 Billion

In a strategic bid to shift its portfolio to the industrial property sector and away from suburban office, Liberty Property Trust (NYSE: LRY) announced it has agreed to buy the operating partnership of Cabot Industrial Value Fund III for $1.475 billion. The transaction, which is expected to close in October of of this year, will add approximately 23 million square feet and 177 properties to the Malvern, PA-based REIT's industrial holdings. Approximately...



via Inland Empire Commercial Real Estate News From CoStar Group http://origin-www-dc.costar.com/News/Article/Liberty-Property-Strikes-Deal-To-Buy-23-Million-SF-Cabot-Industrial-Portfolio-for-$15-Billion/150875?ref=/News/Article/Liberty-Property-Strikes-Deal-To-Buy-23-Million-SF-Cabot-Industrial-Portfolio-for-$15-Billion/150875&src=rss

Jamestown Scoops Up Lantana Complex

SANTA MONICA,CA-Company expands portfolio of California media, technology and entertainment properties.

via Los Angeles http://www.globest.com/news/12_660/losangeles/office/Jamestown-Scoops-Up-Lantana-Complex-in-Media-District-336192.html

Jamestown Scoops Up Lantana Complex in Media District

SANTA MONICA,CA-Company expands portfolio of California media, technology and entertainment properties.

via Los Angeles http://www.globest.com/news/12_646/losangeles/office/Jamestown-Scoops-Up-Lantana-Complex-in-Media-District-336191.html

Waite Won't Stand Still With ULI

LOS ANGELES-Incoming chairman David Waite of the Urban Land Institute unveils some ambitious plans for his new regime.

via Los Angeles http://www.globest.com/news/12_657/losangeles/young_professionals/Waite-Wont-Stand-Still-with-ULI-335978.html

Shanghai Greenland Makes Big L.A. Play

LOS ANGELES-Chinese developer Shanghai Greenland has purchased a stake in the much-coveted Metropolis site in downtown L.A. The firm plans to invest $1 billion on a mixed-use project.

via Los Angeles http://www.globest.com/news/12_660/losangeles/office/Shanghai-Greenland-Makes-Big-LA-Play-336141.html

Still Two Years of Housing Shadow Backlog

SOUTHERN CALIFORNIA, CA-The percentage of borrowers in pre-foreclosure has decreased since 2012; while the number of months delinquent has increased in 2013.

via Los Angeles http://www.globest.com/news/12_660/national/acquisitions_dispositions/Still-Two-Years-of-Housing-Shadow-Backlog-336131.html

CIM Group Has Room with the View

LOS ANGELES-CIM Group has acquired the View, a renovated 168-unit high rise apartment building at 3460 W. 7th St. in Koreatown.

via Los Angeles http://www.globest.com/news/12_660/losangeles/acquisitions_dispositions/CIM-Group-Has-Room-with-the-View-336163.html

CBRE Adds Key Exec, Research Portal

CBRE has added a key operations executive and announced a new research portal.

via Los Angeles http://www.globest.com/news/12_660/losangeles/employment/CBRE-Adds-Key-Exec-Research-Portal-336166.html