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October 18, 2019
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LOS ANGELES COUNTY NEWS
Archive
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• West L.A. Dev Site Sells for $390/sf
3/28/19
A 14.7k sf development site in the Palms area of West Los Angeles sold for $5.75 mil, or $390/sf for the land. The property, Motor + Venice, is located at 3657-3659 Motor Ave, north of Venice Blvd and west of the downtown Cul...
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• Affordable Housing Project Breaks Ground in Long Beach
3/28/19
Clifford Beers Housing has broken ground on Vistas del Puerto Apartments, a 47-unit affordable housing project located at 1850 Locust Ave in Long Beach that was designed by KFA Architecture. The units will be available for ho...
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• ALDI-Anchored Center in South Gate Sells for Over $500/sf
3/26/19
The Crossroads @ Firestone, a 53.3k sf, ALDI-grocery-anchored shopping center in South Gate, sold for $29.5 mil ($553/sf). SAFCO Capital Corporation of Los Angeles purchased the asset from Catellus Development Corporation of ...
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• Private Investor Spends $362/sf for Industrial Building in the San Fernando Valley
3/25/19
A 6.1k sf industrial building in the San Fernando Valley community of Reseda sold for $2.2 mil, or $362/sf. The building, located at 7046 Darby Ave, was acquired by a private investor. The building is situated within the Tre...
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• Tala Inks Expansion/Relocation Lease for 30k sf in Santa Monica
3/25/19
Tala, a leading mobile technology and data science company, recently closed two lease transactions. Tala is moving to a new location within Santa Monica after inking a long-term expansion/relocation lease for 30.6k sf of offi...
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• Economic Growth, Abundant Capital and Favorable Supply-Demand Dynamics to Keep Cap Rates stable
3/25/19
Strong economic growth, abundant capital, and a favorable supply and demand environment led to broadly stable capitalization rates for U.S. commercial real estate assets in the second half of 2018, according to the latest res...
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• Amazing Aerial of California Poppies in Bloom
3/22/19
We thought you might enjoy this great shot over the Lake Elsinore, Wildomar and Sedco Hills areas here in Southern California, with the California Poppies in full bloom. This photo was provided to us by Fred Emmert, owner of...
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• Rexford Industrial Realty Picks Up Two SoCal Assets in $12 Mil Worth of Deals
3/20/19
Rexford Industrial Realty has acquired two SoCal industrial properties in separate deals totaling $12.2 mil. One of the properties is in Vista, while the other is in Santa Clarita. The acquisitions were funded using cash on h...
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• Hollywood Apartment Building Sells for $344k/Unit
3/20/19
Sunset Formosa, a 36-unit apartment property in Hollywood, recently sold for $12.4 mil, or $344k/unit. The property, located at 1522 N. Formosa Ave, traded between Los Angeles-based private investors. Situated just one block...
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• Monrovia Office Building Lands Two New Tenants
3/19/19
There have been two new office leases totaling more than 9.2k sf at 222 East Huntington Drive in Monrovia, CA.a two-story, 122k sf office building in Monrovia. The deals include a 5k sf build-to-suit lease for Reach Autism Th...
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• Safco Capital Corp Spends $25 Mil on Purchase of West Hollywood Gelsonís Market
3/18/19
Safco Capital Corporation closed on the acquisition of a 17.8k sf Gelsonís Market property in West Hollywood, in a sale-leaseback transaction worth $25.25 mil. The property was sold by Mayfair Realty Inc, an operating compan...
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• Pacific Design Center Gets a Boost with Advanced Nutrients
3/15/19
Advanced Nutrientsģ has signed a 10-year lease for 13.5k sf of office space on the third floor of the Pacific Design Centerís Green Building, in West Hollywood. The lease value was not disclosed. Advanced Nutrients, one of...
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• Exchange Investor Buys 84k sf Office Property in La Mirada
3/15/19
Milan Capital Management has purchased an 84k sf office property in La Mirada, in a 1031 exchange deal worth $13.64 mil ($162/sf). The property was sold by Saunders Property Company, a Newport Beach-based real estate company....
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• Claremont Site Acquired for New Auto Dealership
3/14/19
A 4.4-acre site in the city of Claremont was recently acquired for the development of a new auto dealership. The site, located at 667 Auto Center Drive, has been vacant for more than a decade and is part of the Claremont Auto...
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• Logistics Firm Inks Deal for Almost 170k sf in the City of Industry
3/12/19
Soho Logistics signed an $11.2 mil lease for 168.9k sf of space at Nelson Business Park in City of Industry. The tenant is a local, diverse distribution logistics company with accounts that range from apparel to foods. Loca...
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• Sterling Organization Buys 77k sf Retail Center in L.A. Area
3/12/19
Sterling Organization acquired Margarita Plaza, 76.8k sf, a grocery-anchored shopping center in Huntington Park, CA. The purchase was financed with a loan of $14.3 mil. Margarita Plaza, located at 6920 Santa Fe Ave, east of ...
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• Mark Your Calendar => April 11 is RENTV's Downtown Los Angeles State of the Market Conference
3/11/19
On April 11, some of the leading commercial real estate pros doing business in Downtown Los Angeles will come together at RENTV's annual State of the Market Conference to discuss the Retail, Office, Multifamily, Hospitality a...
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• Excelsior Partners Closes $11 Mil South Bay Office Buy
3/11/19
A 49.3k sf office building in Torrance was purchased by Excelsior Partners in an $11.3 mil ($229/sf) deal. The building, located at 3520 Challenger St, east of Hawthorne Blvd and north of Del Amo Blvd, was sold by Fairway LLC...
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• Strong Growth Of Life Sciences Sector Boosting Select Real Estate Markets
3/07/19
This report was provided by real estate services firm CBRE The U.S. life sciences industry and the real estate that it occupies have ridden a wave of momentum into this year that has positioned various industry hubs, from co...
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• West L.A. Retail Asset Traded in $22.6 Mil Transaction
3/06/19
A 36.5k sf, two-story retail property in West Los Angeles, was purchased by an institutional fund for $22.6 mil ($619/sf). The asset was sold by a private family trust. The property, located at 12121 W. Pico Blvd, is anchore...
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