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• Santa Monica Office Sale has the Makings of a Good Broadway Show
6/23/04
Broadway Plaza, a 113k sf Santa Monica office property between 5th and 6th streets on Broadway, has changed hands with its sale by SM Broadway Associates LLC to Palisades Associates Inc for more than $30 mil ($265/sf). Locate...
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• Social Security Agency Finds Appealing Space at Pasadena Towers I
6/23/04
The United States General Services Administration (GSA) has signed a 10-year lease for 19.3k sf at Pasadena Towers in a transaction valued at $6.5 mil ($2.81/sf/mo). The GSA will relocate the Office of Social Security Appeals...
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• ICSC Follow Up Notes
6/22/04
This year's Vegas ICSC conference was some show, with attendance reportedly up around 38,000. It was so exciting that we decided to cover it in video format, leading to a new RENTV video due out soon about the ICSC Vegas show...
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• Darth Vader Building is a Force for Buyers in Sacto
6/21/04
Those active TICs. Especially Santa Ana-based Triple Net Properties. In the past month or so, we've already reported on a couple of major buys that the firm has closed, including a record $274 mil office buy in downtown San D...
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• Another Downtown LA Asset about to Trade Hands
6/18/04
Looking to take advantage of investors' appetites for properties in downtown Los Angeles, AEW is in the process of selling 600 Wilshire Blvd, the 300k sf building it purchased in partnership with Menlo Equities in 1999. From ...
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• Latest Touchstone Production is an $80 Mil Blockbuster
6/18/04
Touchstone Investments has purchased six office buildings located in the Sacramento submarket of South Natomas for $80.85 mil. The buildings, totaling 574k sf ($141/sf), are located at 2495, 2485 and 2525 Natomas Park Dr and...
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• Grand Ave Committee Gets No Love
6/17/04
By Steve Bloom
In what was a big story at the end of May that again got butchered by some opinionated reporting by the LA Times, the Grand Avenue Committee narrowed the field of development teams vying for the chance to deve...
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• Gilead Odyssey Continues as Firm Leases Additional 140k sf in Foster City
6/17/04
Gilead Sciences, the biopharmaceutical company, has just completed a lease for an additional 141k sf of space at the Vintage Park office/R&D complex in Foster City in which the company already occupies about 500k sf. Gilead a...
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• AMCAL to Add 523 New Housing Units Near Dodger Stadium
6/17/04
Boosters of new housing development in lower income parts of LA should welcome a big groundbreaking event coming up next Tuesday, June 22. The event will promote construction by AMCAL Multi-Housing on an innovative transit-or...
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• Triple Net Completes $274 Mil Triple Play in Downtown San Diego
6/16/04
Triple Net Properties LLC has just completed what is reported to be the largest office building sale in San Diego history, after paying $274.5 mil for three downtown high-rise buildings with a combined 1.16 msf ($237/sf) of s...
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• Layton-Belling Takes a Village
6/16/04
Layton-Belling & Associates purchased Village Business Park, a 445k sf industrial park at 7000-7150 Village Dr, east of Knott Ave and south of Artesia Blvd, adjacent to I-5 in Buena Park. The property, which sold for $41.5 mi...
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• ScanlanKemperBard Rides Off into the Sunset Tower
6/15/04
Sunset Tower, the 36-year-old, 14-story office tower at 6430 Sunset Blvd in Hollywood, is about to trade hands. Per a recent piece in Real Estate Alert, ScanlanKemperBard has agreed to pay $35 mil for the 206k sf ($170/sf) hi...
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• New San Diego Retail Center Sells for $37 Mil
6/14/04
A California investment group paid $37 mil for a new 90k sf ($411/sf) retail center in Carmel Valley that is still under construction. The property, called Torrey Highlands Village Center, is expected to be completed later th...
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• Layton-Belling Wraps Up $27 Mil Sorrento Mesa Office Buy
6/11/04
Layton-Belling Associates acquired three office buildings, with a combined 177.1k sf of space, in Sorrento Mesa for $27.4 mil ($155/sf). The buildings were sold by W9/PC Limited Partnership, a joint venture between WCB Proper...
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• San Francisco Office Sales Myered on Second Street
6/10/04
Here's more news that reinforces recent industry reports which suggest that investor interest in San Francisco office properties is picking up. Jack Myers, one of the city's more prolific office developers of late, has decide...
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• Steadfast Investor Pays Peak Price for Everett Mall
6/10/04
A couple of Orange County-based investment firms have each recently closed on major acquisitions outside of California. Steadfast Companies, out of Newport Beach, purchased Everett Mall in Everett, WA, while Mission Viejo-bas...
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• A Tour of El Toro
6/10/04
By Steve Bloom
All of Orange County has been following the progress of the sale of the land comprising the closed Marine Corps Air Station El Toro, which was christened Heritage Fields. We last wrote a piece about it last Oc...
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• Crest Brushes Up Its Investments with $16 Mil Purchase of Poway Facility
6/09/04
Crest Partners, a San Diego-based investor, purchased Parkway Centre One, a 126.7k sf R&D/light manufacturing building in the Poway area of San Diego. The fully leased property, located at 14100 Danielson St, at Scripps Poway...
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• Property Management Update
6/09/04
CHARLES DUNN COMPANY:
The LA office of Charles Dunn took over management of seven Von's supermarket properties in SoCal, with a combined total of 535k sf. The properties are located at: 185 East 17th St in Costa Mesa (75k sf)...
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• Interpublic Ad Firms Take 146k sf at Pacific Design Center
6/08/04
We've got a few fresh Westside leases that just closed to report, starting with the big $40 mil deal signed by The Interpublic Group of Companies (“IPG”) for 145.5k sf of space at 700 San Vicente Blvd, the massive green build...
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