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San Mateo Retail Property Fetches $90 Mil 11/30/05 SPI Holdings purchased Bridgepointe Center, a 270k sf portion of a regional shopping center located in San Mateo. The property, which traded for around $90 mil ($333/sf), was sold by Westlake Global Management. It is located...
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Financing Notes 11/29/05 Sonnenblick-Eichner Company: LA-based Sonnenblick-Eichner Company has arranged $27.5 mil in first mortgage financing for three hotels in the state of Washington; The Roosevelt and the Coast Gateway Hotel located in Seattle, a...
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Combined Pays $30 Mil for Brentwood Retail Center 11/28/05 Beverly Hills-based Combined Properties purchased Brentwood Place, a 65.5k sf vertical neighborhood center 12007 Wilshire Blvd in Brentwood. The property, which was sold by Champion Development Group, traded for $30.9 mil ($4...
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LAX-Area Office Building Sells for $17.8 Mil 11/28/05 A 68.2k sf office building just south of LAX traded hands for $17.8 mil ($261/sf). Located at 5245 Pacific Concourse Dr, the three-story, steel-frame structure is situated south of the 105 Fwy and just west of La Cienega Blvd...
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General Growth Defeated Again in Efforts to Halt Competitive Glendale Project 11/24/05 General Growth Properties has lost yet again in its efforts to prevent developer Rick Caruso from moving forward with his Americana at Brand mixed-use project in Glendale. In this latest setback for General Growth, the Califo...
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Equity Signs Barclays to Majority of New Foundry Square I Building 11/24/05 Equity Office is ready to move forward with Foundry Square I, a new 10-story, 335k sf office building in San Francisco's SOMA district, after inking a long-term lease with Barclays Global Investors for the majority of the bui...
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Historic Desmond's Tower Building Truly Becomes a Legacy 11/23/05 Foster City-based Legacy Partners recently acquired The Desmond's Tower, a historic Art Deco landmark located at 5514 Wilshire Blvd on LA's “Miracle Mile area, between Fairfax and La Brea Aves. The company plans to restore th...
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Financing Notes 11/23/05 Holliday Fenoglio Fowler LP (HFF) arranged $146 mil in financing for five hotels, two of which are in Southern California, exclusively on behalf of Cornerstone Hotel Income and Equity Fund, a newly formed investment fund, man...
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Investors Head to Saturn for Office Buy 11/23/05 A Santa Ana-based T-I-C buyer acquired Saturn Business Park, a 121.1k sf low-rise office project in Brea, for $22 mil ($182/sf). The two-story building, which was built in 1985 and renovated in 2004, is located at 2929 East I...
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Holland Firm Contributes $6 Mil to Greenhouse Dispositions 11/22/05 Here's a re-cap of the some of the more notable recent Bay Area deals brokered by NAI BT Commercial, the NoCal firm that is one of the most active players in the region.
In Chualar, a town east of Monterey off the 101 Fwy i...
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Grosvenor Sets Sail on The River 11/22/05 British-based Grosvenor has acquired the River, an upscale retail project in Rancho Mirage, from JH Snyder Company, which developed the center in 2001. The 227.6k sf Class A entertainment and lifestyle complex is situated at ...
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Kids from the Valley Stay in the Valley after $16 Mil Northridge Buy 11/21/05 In a sizable San Fernando Valley deal from a month or so ago, LA-based Jamison Properties paid $31 mil for two office buildings, totaling 177k sf ($175/sf), in Sherman Oaks and Woodland Hills. The assets are Sherman Oaks Atri...
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Tishman to Partner in $76 Mil Mixed-Use Development in Bulgaria 11/18/05 Not all of our news has to do with property in California. Sometimes we report about local companies when they take on interesting projects elsewhere, and that is the case here, as LA-based Tishman International Companies, th...
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Opus West Speeds Along with Two Big Land Buys at Carlsbad Raceway 11/18/05 Opus West Corp is making a big investment in H.G. Fenton's Carlsbad Raceway Business Park, a 1.5 msf master-planned business campus at the northeast corner of Palomar Airport Rd and Melrose Dr in Carlsbad. Opus has just acqui...
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Legget & Platt Manufactures Lease for 179k sf Industry Facility 11/17/05 Leggett & Platt Inc (NYSE: LEG), the Fortune 500 diversified manufacturing company, will be consolidating operations from two Pico Rivera facilities into a 179k sf warehouse/distribution/manufacturing in the City of Industry....
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Financing Notes 11/17/05 Holliday Fenoglio Fowler: The San Diego office of Holliday Fenoglio Fowler (HFF) has arranged a $100 mil construction loan for DiamondView Tower, a 15-story Class A office building that will overlook the San Diego Padres' PET...
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RREEF Spends $123 Mil on San Diego Office Gem 11/16/05 RREEF, the big pension fund advisory firm, has acquired Emerald Plaza, a 364k sf Class A office building in Downtown San Diego, on behalf of a client. The landmark 30-story San Diego skyscraper is located at 402 West Broadway...
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Sherman Oaks Investment Group Collects $134 Mil from 2.2 msf Portfolio Sale 11/16/05 H&R REIT, a Canadian real estate investment trust, purchased a 2.17 msf portfolio of Class A industrial properties located in Illinois, Texas and Georgia for $134.5 mil ($62/sf). The portfolio, which is 100 percent leased to ...
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Urban West Begins Work on New Residential High-Rise Project in San Francisco 11/15/05 Urban West Associates, the San Diego-based developer who purchased the Bank of America clock tower building in 2003, is breaking ground on a two-tower residential development that, when completed in 2007, will become one of S...
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Investors Plan Extended Stay at Office Properties on Hotel Circle 11/15/05 An investment entity acquired two office buildings, with a combined 132.9k sf, in Mission Valley for $26 mil ($196/sf). The properties, which sit on two separate parcels totaling 4.08 acres, are located at 1650 & 1660 Hotel C...
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