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July 7, 2020
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• Construction Quick Take
Construction is humming along at the site of the iconic Century Plaza Hotel in Century City, which is undergoing a $2.5 bil, multi-building redevelopment by owner Woodridge Capital Partners, led by CEO Michael Rosenfeld. The ...
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• Office Market Continues on Solid Ground for San Diego
This report was provided to us by the San Diego office of real estate services firm Cushman & Wakefield. Cushman & Wakefield’s newly released office market report for San Diego showed overall market fundamentals remain on so...
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• Industry Veterans Launch Online Platform Catering to Middle Market Transactions
Biproxi, an online platform for middle-market commercial real estate sales and leasing, was just launched by industry veterans Gordon Smith, Yan Khamish, Carrington Guy and Thatcher Milholland. The site, which has secured see...
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• Draftsmen & Craftsmen
Construction has been completed on California State University, San Bernardino’s (CSUSB) new $78 mil, 152.6k sf student housing and dining commons. Located at 5500 University Pkwy, the 407-bed student housing complex and 750-...
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• Construction Quick Take
By Allen Wolfsheimer Here’s a pic taken a few days ago of the current state of construction on The Culver Steps, a 120k sf retail and office development next to the Culver Hotel in the heart of downtown Culver City. The proj...
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• Dominion Mortgage Corp Provides $11.6 Mil Loan for Construction of a Hyatt-Branded Hotel in Hollywood
Dominion Mortgage Corporation has provided an $11.6 mil construction loan for the development of a new, 64-room Hyatt-branded boutique hotel in Hollywood. The development is just a few blocks from the well-known intersection ...
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• BridgeCore Capital Introduces “Pay Rate” Lending Product
BridgeCore Capital Inc has commenced operations, offering an innovative approach to providing private bridge financing for commercial and non-owner-occupied residential properties throughout California. “BridgeCore is intro...
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• Los Angeles Jumps to Second in Ranking of Top Cities for Green Building Certifications
The nation’s largest cities are getting even greener, and Los Angeles is among those leading the pack, claiming the number two spot for the number of green-certified buildings with a total of 363 or the equivalent of about 11...
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• Wall of Capital Chasing Real Estate Assets, While Strong Economic Growth Keeping Cap Rates Stable
This report was provided to us by real estate services firm CBRE A wall of domestic and global capital, above-trend economic growth, and a continued low interest rate environment led to broadly stable capitalization rates fo...
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• Colliers International Acquires CBC Advisors in Glendale
Colliers International has acquired CBC Advisors in Glendale, making the Tri-Cities company Colliers’10th office in the Greater Los Angeles region. The former CBC Advisors office is comprised of 10 brokers specializing in t...
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• Home Affordability in California Drops to Lowest Level in 10 Years
Record home price increases and higher interest rates combined to constrain California housing affordability to the lowest levels in 10 years, according to the lates research from the California Association of Realtors® (C.A....
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• L.A. Westside Experts Provide Overview of the Region at RENTV Conference
RENTV's Westside Los Angeles State of the Market Conference included panels from the office, retail, multifamily and brokerage segments of the industry. The panel speakers are shown below.
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• Admiral 2R Management Closes on Office Buys in Phoenix and San Diego
Admiral 2R Management LLC closed on two office property buys, acquiring The Madison office complex in Phoenix and the Balboa Executive Center office building in San Diego. These acquisitions, totaling 298k sf of space, are t...
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• Caltrans Buys 111 Acres in Carmel Valley for Wetlands Project
The State of California Department of Transportation (Caltrans) has purchased a 111.6-acre land parcel in Carmel Valley for $2.7 mil. The property is located south of Highway 56 at Rancho Santa Fe Farms Road in McGonigle Cany...
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• San Diego Retail Reaches Highest Asking Rate on Record
This report was provided to us by real estate services firm CBRE The San Diego retail market closed out Q2 2018 with the highest asking rate on record for the market, according to the latest research from CBRE. The San Diego...
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• CRE Trends for California Expected to Continue
The Summer/Fall 2018 Allen Matkins/UCLA Anderson Forecast California Commercial Real Estate Survey shows that despite tax cuts and incentives, tariffs, higher interest rates, higher cap rates, and slowing employment growth, t...
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• CA Home Sales Continue to Slow as Prices Increase Again
California’s median home price edged higher to another peak in June as year-over-year home sales lost steam for the second straight month, according to the latest data from the California Association of Realtors® (C.A.R.). C...
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• CBD Rents for Transit-Accessible Buildings Substantially Higher than for Car-Dependent Space
This study on mass transit’s influence on office markets in major metros was provided to us by real estate services firm Transwestern The national average rent in transit-accessible office buildings was 65% higher than the a...
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• Grocery Chain ALDI Signs Lease for New Store in Mira Mesa
Grocery chain ALDI has inked a deal for a 20.2k sf supermarket in Mira Mesa’s Plaza Sorrento, opening in the fall of 2018. Terms of the lease were not disclosed. ALDI will be the grocery anchor at the project, which is locat...
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• Study Shows that Quality of Property Management Services Impacts Business’ Employee Retention Abilities
As employers strive to create a healthier, more collaborative and productive work environment for employees, the quality of property management and the incorporation of technology are critical considerations when making locat...
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