| Multi-Tenant Retail Property in Beverly Hills Fetches $920/sf
An 8.7k sf, multi-tenant retail property in Beverly Hills traded hands for $8 mil, in a transaction that works out to $920/sf. The property, built in 1951, sits on 0.29 acres at 301-311 North Robertson Blvd, at the intersecti...
| 148-Room The Shay to be Hotel Component of Ivy Station Campus in Culver City
Lowe and AECOM-Canyon Partners have revealed details for The Shay, a new six-story, 148-room boutique hotel that is a pivotal component of Ivy Station, the 500k sf mixed-use development currently under construction in Culver ...
| Long Beach Apartment Building Trades at $381k/Unit
An eight-unit apartment property in Long Beach’s Alamitos Beach neighborhood sold for $3.05 mil, or $381k/unit. It was acquired by a Los Angeles-based family office in a deal that had a closing cap rate of 4.9%.
| Work Finished on Marina del Rey Live/Work Campus
Work has been completed on INclave, a dynamic live-work-play campus in the Marina Arts District of Marina del Rey. Located at 4061-4065 Glencoe Ave, INclave comprises 65k sf of tech savvy, amenity- rich creative office space...
| Third Res Tower at Metropolis Development in DTLA Set to Open Soon
Metropolis, the $1 bil landmark development in Downtown Los Angeles, is nearing final completion as one of the largest mixed-use communities in the western United States. Along with the current, 18-story Hotel Indigo (by IHG ...
| Historic Office Building in Downtown L.A. Hits the Market
Farmers & Merchants Bank, a historic, 16.4k sf creative office property in downtown Los Angeles, has been listed for sale. The property, located at 401 S. Main St, at the corner with Fourth in the historic core of the Downtow...
| Greystone Provides $33.7 Mil Refi Loan on Long Beach Area Mobile Home Community
Greystone has provided a $33.7 mil Freddie Mac refi loan on Belmont Shores Mobile Estates, a 347-unit age-restricted manufactured housing and mobile home community in Long Beach. Located within the beach community in Californ...
| Retail Building in Belmont Shore Area of Long Beach Sells for $555/sf
A rare high-street, multi-tenant retail asset located in the popular Belmont Shore neighborhood of Long Beach sold for $5 mil. The 9k sf ($555/sf) asset was acquired by a private investor out of Long Beach.
The 100%-leased b...
| Rexford Industrial Realty Buys One SoCal Property and Sells Another
Rexford Industrial Realty has acquired one SoCal industrial property for $8 mil, while selling another for $11.2 mil. The acquisition was funded using cash on hand.
In the acquisition, the company purchased 8985 Crestmar Poi...
| Trion Properties and The Ketter Group Acquire Dev Site in L.A.’s Mid-Wilshire
Trion Properties and joint venture partner The Ketter Group have acquired a land parcel in L.A.’s Mid-Wilshire area for $7.35 mil. The land, which was previously entitled for 45 units, will be used for residential development...
| Barings’ 801 Tower in Downtown LA Wins BOMA Award
Barings’ 801 Tower in Downtown Los Angeles received The Outstanding Building of the Year (TOBY) award from the Greater Los Angeles Building Owners and Managers Association (BOMA). Competing in the 250k sf to 499k sf category,...
| Walls Tilted on Three Buildings at The Center at Needham Ranch
In development news out of northern L.A. County, the walls have been raised on all three buildings in Phase 1B of The Center at Needham Ranch. The 54-net acre business park, a development of Trammell Crow Company and Clarion ...
| L.A. County Industrial Asset Trades for $76.8 Mil
A 337.1k sf, Class A industrial infill project in La Mirada has sold for $76.8 mil, or $228/sf. The property, located at 14001-14051 Rosecrans Ave, was purchased by Clarion Partners LLC. We’re told the transaction ranks among...
| Commercial Real Estate Financing Briefs
JLL - Aldon Cole and Daniel Pinkus with JLL have arranged $57.5 mil in financing for Latitude 37, a two-phase, 172-unit luxury mid-rise apartment community in South San Jose. Latitude 37 is located on three acres at 1255 and ...
| Eldridge Investments Leads $300 Mil Equity Investment in Kennedy Wilson
Eldridge Industries has led a $300 mil strategic investment in Beverly Hills-based real estate firm Kennedy Wilson. Kennedy Wilson expects to use the proceeds to pay down unsecured debt, including repaying its unsecured bank ...
| The Bascom Group Spends $9.7 Mil on 39-Unit Multifamily Property in El Monte
The Bascom Group LLC has acquired Atrium Apartments, a 39-unit apartment community in El Monte, for $9.7 mil ($248.7k/unit). Built in 1963, Atrium is located at 3733 Gibson Road.
Atrium provides ideal access to major econom...
| Investor Pays $200k/Unit for Value-Add Res Buy in Long Beach
In a recent Long Beach multifamily sales comp, a 10-unit, value-add apartment property located at 1871 Chestnut Avenue in the city’s Wrigley neighborhood sold for $2.03 mil, or around $203k/unit. Built in 1964, the two-story ...
| Work Finished at Seniors Mixed-Use Community in LA’s Park Mesa Heights Neighborhood
The Curve at West Angeles, a 70-unit, 80k sf affordable mixed-use community in the Park Mesa Heights neighborhood of Los Angeles, has been completed. The $24 mil, art deco-style project is a joint venture between Related Cali...
| Construction of Orchard Medical Center is Underway
Construction is underway at Orchard Medical Center, a two-story, 41.2k sf medical office property in Valencia. The project, which tilted walls in early September, is expected to be completed March 2020.
The project, located...
| Two Asian Food Tenants Ink Deals at Echo Park Redev Project Near Downtown LA
Supertoro and HiroNori Craft Ramen have signed leases at Brick Works, a retail collective in the Echo Park neighborhood of Los Angeles. Located in the heart of Echo Park at 1485-1501 W. Sunset Blvd, Brick Works is a new adapt...