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Los Angeles Drops to 2nd on M&M’s Mid-Year National Industrial Index 7/06/09 Although industrial operations in Los Angeles will remain among the tightest in the nation in 2009, slower international commerce and reduced consumer demand are resulting in rising vacancy rates and lower rents, according to...
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Southern Oregon Sales Sold in a Southern Oregon Sale 7/06/09 Cross Creek Trading Company acquired Southern Oregon Sales (SOS), a 110k sf cold storage and packing facility located on six acres in Medford, OR for $2.3 mil ($21/sf). The 90-year-old plant was originally listed for $2.8 mil...
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Ashley Furniture Purchases Two Buildings in the Inland Empire 7/02/09 Ashley Furniture Industries Inc acquired Cooley Ranch Industrial Park, a two-building, 439k sf industrial complex in Colton. The transaction consisted of a 312k sf building and a 127k sf structure located on 19.3 acres in the...
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TestEquity to Test Out 75k sf Moorpark Space for Seven Years 7/01/09 TestEquity LLC, an electronic test equipment company, inked a NNN lease for 75.8k sf in a Conejo Valley R&D facility. The space is part of a larger, 114.6k sf building located at 6100 Condor Dr, south of the 118 Fwy and east ...
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$19.3 Mil Sale Marks Pinnacle of Inland Empire Hotel Market 6/30/09 In a major Inland Empire hotel buy, Pinnacle Hotels USA has acquired the 292-room Marriott Riverside for $19.3 mil ($66k/room) from Sunstone Hotels. The 12-story hotel is located at 3400 Market St, in the heart of the histori...
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Camarillo Multifamily Property Trades for $14 Mil 6/29/09 In the first transaction this year of a property of 100 units or larger in Ventura County, Camarillo Mountain View LLC acquired the 106-unit Mountain View Apartments in Camarillo for $14 mil ($130.1k/unit). The property, loca...
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PODS Takes Over Hayward Warehouse Facility 6/29/09 In a recent East Bay industrial deal, PODS agreed to a five-year lease for a 118.8k sf warehouse facility at 21001 Cabot, west of I-880 and north of the 92 Fwy, a few blocks southwest of the Hayward Executive Airport. The lea...
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Sperry Van Ness/Guardian to Hold Auction for Dozens of Distressed Properties 6/26/09 Looking for distressed property opportunities? You might want to check out Sperry Van Ness/Guardian’s MarketMaker Western Regional Commercial Property Auction to be held July 30 at 2 p.m. at the Hyatt Regency Century Plaza in...
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South Bay Retail Center Sells for $45 Mil 6/25/09 In one of the larger SoCal retail investment deals we’ve reported so far in 2009, a 144.7k sf center in the South Bay city of Seal Beach traded hands in a $45.3 mil ($313/sf) transaction. The property, Old Ranch Towne Center,...
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Mid-America Apartments Pays $17.5 Mil for Nice Sky View 6/25/09 Sky View Ranch, a 232-unit apartment community located at 4632 East Germann Rd in Gilbert, AZ, sold for $17.5 mil ($75.4k/unit). Constructed in 2007, Sky View Ranch is a Class A asset that consists of 11 three-story buildings...
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RiverRock’s Latest Assignment Boosts Portfolio to More than 10 msf 6/25/09 RiverRock Real Estate Group was awarded the management contract for a 409.7k sf portfolio of Class A office space in the Los Angeles area by Beverly Hills-based Cambra Realty. The new assignment, encompassing four Los Angeles...
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Turner Development Closes Opportunity Fund 6/24/09 Newport Beach-based Turner Development Corporation has just closed its Turner Opportunity Fund I L.P, which will be used to acquire distressed commercial real estate assets and pools of performing and non-performing loans. Th...
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Johnson Capital’s Burkhalter Arranges $62 Mil in Financing on SoCal Properties 6/23/09 While the current lending environment has made it considerably more difficult to obtain financing for many commercial borrowers, Johnson Capital’s Kevin Burkhalter has been able to arrange attractive financing on a number of ...
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Bacchus Sells Seven Buildings at Irvine Spectrum Development 6/22/09 Seven buildings, totaling 45.6k sf, have sold in the last 30 days at BaccHus Signature Series, a 265.8k sf office park located in Irvine Spectrum, with prices averaging $225 per square foot. The project, developed by locally ...
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Sales at The Mercury Should Rise after Purchase of 149 Units by Kennedy Wilson Venture 6/19/09 An investment partnership led by Kennedy Wilson has acquired the remaining 149 units in The Mercury, a 22-story luxury condominium tower on the corner of Wilshire Blvd and Western Ave, from investors led by Forest City Reside...
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Newmark Arranges $109 Mil Restructure on 785-Unit Portfolio 6/19/09 Newmark Realty Capital Inc has completed a $109 mil restructure of four loans on a 785-unit multifamily portfolio located in the Western United States. The loans were originated at the height of the market by a portfolio lend...
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Stonecraft Homes Closes $20 Mil AZ Apartment Buy 6/18/09 Villagio, a 472-unit apartment community in Tempe, AZ, was acquired by Los Angeles-based Stonecraft Homes in a recent transaction worth $20.25 mil ($42.9k/unit). Constructed in 1983, the property is located at 1133 West Basel...
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FDIC Relinquishes Majority of WaMu’s 250k sf Lease at Quintana Campus in Irvine 6/18/09 In an unusual move that has had a deleterious effect on the status of one of Maguire Properties’ Orange County properties, The Federal Deposit Insurance Corporation (FDIC), as receiver for Washington Mutual Bank (WAMU), relin...
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It’s Prime Time for Big OC Apartment Buy 6/17/09 In what is reported to be one of the largest investment sales of the year in Orange County, the 349-unit Adagio at South Coast apartment complex in Santa Ana sold for $43.1 mil ($123.5k/unit). The property, located at 3124 So...
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Lowe Opens Terranea Resort on Former Marineland Site 6/17/09 Terranea (terra-NAY-a) Resort, an exciting new SoCal coastal resort from Lowe Enterprises, just opened to the public. Among the largest development projects to open in Los Angeles County this year, the 582-room, Mediterranean...
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