The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
March 29, 2024
 Search RENTV
   Go!
 The REview
 News
News Home Page
Southern California
Northern California
Pacific Northwest
Texas/Southwest
Retail
Multifamily
Financing
Prop. Management
Archives
Press Releases
 R. E. Marketplace
Service Providers
JobWorks
Property Spotlight
 RENTV  Conferences
Subscriber Login:
  
Email      
    Go!
Password      
Forgot Password?





LOS ANGELES COUNTY NEWS
Printer-friendly Version   Email an Associate
Unique Downtown Los Angeles Investment Opportunity Hits the Market

6/06/16

Here’s news of a very significant downtown Los Angeles investment opportunity that has come on the market – the 2.4-acre and 3.6-acre sites beneath the iconic, Class A office towers of One and Two California Plaza. One California Plaza is a 42-story, 1.1 msf office tower, while Two California Plaza is a 52-story, 1.3 msf office tower. The sites are subject to long-term absolute net ground leases with 66 years remaining.

CRA/LA, a Designated Local Authority, is the successor to the Community Redevelopment Agency of the City of Los Angeles. State law requires that CRA/LA dispose of these assets at fair market value.

Cushman & Wakefield is handling this disposition for CRA/LA. Since 2015, Cushman & Wakefield has sold or is in the process of selling a total of 50 assets for the CRA/LA.

“These offerings are two of CRA/LA’s highest profile assets. They demonstrate the positive results of the public-sector/private-sector collaboration and the intent of the CRA/LA’s original mission,” said Commissioner Mee Semcken, Vice Chairperson of the CRA/LA-DLA Governing Board.

“Downtown Los Angeles represents one of the most compelling urban transformation stories in the country. The opportunity to acquire such irreplaceable sites that generate long-term income akin to an investment grade credit bond while offering significant value appreciation potential is truly unique in our industry,” according to Marc D. Renard, Vice Chairman of Cushman & Wakefield’s Capital Markets Group.

Marc Renard, Jimmy Chai, and Manfred Schaub with C&W’s Downtown Los Angeles office are the account team exclusively representing the CRA/LA. The public sale launches on June 3, 2016 with offers due July 12, 2016.

In addition to the portfolio being marketed for sale by Cushman & Wakefield, CRA/LA’s approved long range property management plan includes properties that have been optioned to the City of Los Angeles for future development.






Return to the Archive page


 


 


 
 
 



Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2024 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media