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Grubb's CEO Search Coming Up Roses 3/16/05 Grubb & Ellis Company's Board of Directors has named Mark E. Rose as the national real estate services firm's Chief Executive Officer, effective immediately. Rose, who has nearly 20 years of real estate-related experience, jo...
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Sorrento Mesa R&D Building Fetches $17.8 Mil 3/16/05 LBA Realty has acquired a 134k sf office/R&D building in Sorrento Mesa for $17.84 mil ($133/sf). The property, which is located at 10450 Pacific Center Ct, north of Mira Mesa Blvd, was sold by El Segundo-based Hughes Network ...
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San Francisco Deal Notes 3/15/05 A Miami Beach, FL-based investment partnership purchased a 108.8k sf Federal Express building in San Francisco for $35 mil ($322/sf). It was sold by Charlotte, NC-based Wachovia Securities, which was represented by Steven Reg...
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State Farm is Latest Good Neighbor at Cerritos Towne Center 3/15/05 Transpacific Development Company has inked deals with several new tenants at 17777 Center Court Dr, the company's most recent Class A office building, located within Cerritos Towne Center in Cerritos. The $30 mil building co...
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Voters Approve Montage in Beverly Hills 3/14/05 Plans for a new luxury hotel in Beverly Hills are closer to fruition, as voters in last Tuesday's citywide election approved a project by Montage Hotels & Resorts and The Athens Group, its developer, for the Montage Hotel & P...
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March 14, 2005 - It's Hasta Nabisco for Landmark Cracker Plant 3/14/05 Anyone who has driven the 5 Freeway across the OC/LA county line more than a few times knows the ex-Nabisco plant, now sans signage, on the east side of the freeway in Buena Park sitting almost right on that county line. Buil...
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RREEF Floats $60 Mil in the Pacific 3/11/05 Here's an update on a pair of very newsworthy San Diego-area sales, one in Sorrento Mesa and the other in La Jolla. In the Sorrento Mesa transaction, a RREEF-managed entity paid $60 mil for Pacific Technology Park, a 440.6k s...
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OC Downtowns Getting Juiced Up 3/11/05 When you look at the past year from a standpoint of rebounding and rejuvenation in the OC, it was a big year. Not only has a sizable amount of office space been absorbed, and the vacancy rate has shrunk accordingly, but sever...
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Archstone-Smith Moves into Oakwood Apartments 3/10/05 In big news from last week, Archstone-Smith (NYSE: ASN), the big Denver-based apartment REIT, reached an agreement to acquire 30 apartment communities from Oakwood Worldwide, out of LA, in a deal valued at $1.4 bil. The acqui...
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ProLogis Goes Solo in $30 Mil Inland Empire Deal 3/10/05 ProLogis closed a big Inland Empire distribution deal, signing Solo Cup to a 10-year lease for a recently completed 882.2k sf industrial facility at their ProLogis Park I-210 in Rialto. Solo is a $2.3 bil international manufa...
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San Francisco Apartment Complex Sells for $1.2 mil/Unit 3/09/05 A San Francisco apartment building traded hands at a staggering price of $1.2 mil per unit. The property, The Park Lane apartments on Nob Hill, contains 33 units and sold for $38 mil. It was acquired by the Lembi family, out ...
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Westchester School Rolls Over to Beethoven in $22 Mil Deal 3/09/05 Westchester Neighboring School has inked a 20-year lease for a 50.5k sf building in West LA that the school plans to use for classrooms, office and other programs. The property is about two acres of land at 5401 Beethoven St,...
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ZMI Awarded Academy Building for $35 Mil 3/08/05 The Academy, the eight-story, 174k sf office tower at 5200 Lankershim Blvd in North Hollywood, was purchased by ZMI Real Estate for $35 mil, or just over $200/sf. Built in 1989, the building is situated at the northeast corne...
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Miramar Retail Property Fetches $44 Mil 3/07/05 A California limited partnership closed on the $44.25 mil purchase of the Metroplex Retail Center, a two-building, 210.9k sf ($210/sf) complex in San Diego's Miramar area. Located at 7340 and 7480 Miramar Rd, the Metroplex is...
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32-Acre Land Buy Gives Sares*Regis Triple Play in Rialto 3/07/05 Irvine-based Sares*Regis Group acquired a 32-acre site in the Inland Empire city of Rialto, on which the company plans to develop a 383k sf warehouse/distribution facility. The site, a former vineyard, was purchased from an i...
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Maguire Reaches Agreement for $185 Mil Buy of San Diego Tech Center 3/05/05 Maguire Properties (NYSE:MPG), the big LA-based office REIT led by Rob Maguire, has teamed up with RREEF for another major SoCal office buy. The partnership has agreed to pay $185 mil for the San Diego Tech Center, a 647k sf ...
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Here's How to Lease 32k sf of New Retail Space 3/04/05 NoHo Commons, a $200 mil, mixed-use project being developed around the North Hollywood Red Line subway station by J.h Snyder Company, has signed How's Market to a lease for 32k sf of retail space in the Project's second phase...
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Developer to Build Pair of Newcastles in Fontana 3/04/05 Newcastle Partners has begun construction on a pair of new projects that will add a combined 450k sf of state-of-the-art industrial buildings in the Inland Empire community of Fontana.
One of the developments, a three-build...
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Hutton to Break Ground on 240-Unit Apartment Project in Upland 3/03/05 Orange County-based Hutton Development Company is set to break ground this month on a new upscale, 240-unit apartment community in the city of Upland – one of only three multi-family developments approved by the city since th...
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Chula Vista Investor Exchanges $12.7 Mil for 162k sf Industrial Property 3/03/05 A 162.6k sf multi-tenant industrial building in the city of Chula Vista was acquired by a local 1031 exchange buyer for $12.745 mil ($78/sf). The building is at 2400-2402 Main St, between I-5 and Broadway, a short distance ea...
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