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December 9, 2019
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LOS ANGELES COUNTY NEWS
Archive
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• Harbor Freight Tools Leases 229k sf in Calabasas
6/05/19
Harbor Freight Tools USA Inc, a national tool retailer, has agreed to a 15-year lease for 229k sf of space at Corporate Center Calabasas. The space will serve as the company’s new corporate headquarters. We’ve been told that ...
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• Trojan Storage Pays $9 Mil for 1.87-Acre Glendale Site
6/04/19
Trojan Storage paid $9 mil for a 1.87-acre development site in Glendale. Trojan Storage, a Los Angeles-based self-storage company, operates 20 locations in California, Oregon, Washington, and Arizona. The property represent...
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• Rexford Industrial Realty Spends $34.5 Mil on Two SoCal Assets
6/04/19
Rexford Industrial Realty recently acquired two SoCal industrial properties in deals totaling $34.5 mil. The acquisitions – in the City of Industry and Sun Valley - were funded using cash on hand. In one of the purchases, Re...
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• The RealReal Leases 30k sf Creative Office Space in L.A.
5/31/19
TheRealReal, an online luxury consignment company, has agreed to a lease for the entire 29.7k sf creative office conversion building at 3317-3325 W. Exposition Blvd, just east of Crenshaw Blvd in L.A.’s Exposition Place Distr...
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• San Fernando Valley Multifamily Property Sells for $24 Mil
5/31/19
Park Terrace Apartments, a 100-unit multifamily property in the central San Fernando Valley community of Reseda, sold for $23.95 mil ($239.5k/unit).The property is located at 6425 Reseda Blvd, just north of Victory Blvd. Com...
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• Work Gets Started on the Latest Phase at The Center at Needham Ranch in Santa Clarita
5/31/19
Trammell Crow Company (TCC) and Clarion Partners LLC have commenced construction on Phase 1B of The Center at Needham Ranch, a 54-acre business park that sits on a 132-acre, fully entitled site. Construction is scheduled to c...
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• Kimpton Hotel Wilshire in L.A. to Undergo a Full Modernization
5/30/19
Renovation work has begun on Kimpton Hotel Wilshire, a 41.9k sf boutique hotel on Los Angeles’ westside that was originally built in 2011 as an adaptive re-use of a 1951 office building. The property is owned by OSM Investmen...
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• Downtown Los Angeles Multifamily Refinanced with $128 Mil Loan
5/30/19
Geoff Palmer has secured $128.1 mil in financing for Orsini II, a 566-unit, institutional-quality multifamily property in Downtown Los Angeles. The new loan replaces a $115.2 mil floating rate loan secured for the property in...
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• Sugarpill Cosmetics Leases 10.5k sf in L.A.’s Cypress Park Neighborhood
5/28/19
Los Angeles-based Sugarpill Cosmetics recently inked a five-year lease for 10.5k sf of flex/industrial space in LA’s Cypress Park neighborhood. The property is at 646 N. San Fernando Rd, directly north of the intersection of...
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• Westwood Apartment Building Sells for Over $900k/Unit
5/28/19
A private investor paid $13.7 mil for a 15-unit ($913k/unit) multifamily property in Westwood, in an off-market deal. The property is located at 10630 Wilkins Ave, east of Westwood Blvd between Wilshire and Santa Monica Blvds...
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• Community Preservation Partners Completes Rehabilitation of 48-Unit Low-Income Housing Portfolio in Los Angeles
5/28/19
Community Preservation Partners (CPP) has completed an $11.9 mil rehabilitation of The Curtis Johnson Apartments, a six-building, 48-unit low-income residential portfolio in and around the Vermont Harbor neighborhood of Los A...
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• $46 Mil Gershwin Sale Provides Local Investor Opportunity to Compose New Value at Hollywood Asset
5/24/19
The Gershwin Apartments, a 172-unit, mixed-use development in Hollywood, was acquired by a local real estate entity for $46 mil in a transaction that took just 35 days to close escrow. The property is located at 5533 Hollywoo...
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• Downtown L.A. Site Sells for $10.2 Mil
5/24/19
An industrial property in Los Angeles leased to Avis/Budget and used as a truck leasing center sold for $10.25 mil. The property, located at 1910 E. Washington Blvd, south of I-10 and just east of Alameda St in the southern ...
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• Long Beach Apartment Property Sells for almost $300k/Unit
5/23/19
A two-building, six-unit apartment property in Long Beach sold for $1.775 mil ($296k/unit). The property, located at 1969 Cedar Ave in the city’s South Wrigley submarket, was purchased by a Los Angeles-based private investor....
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• Columbia Pacific Advisors Provides $17.6 Mil for Building Purchase and Two Other Property Repositioning Projects in the L.A. Area
5/22/19
Columbia Pacific Advisors through its real estate lending platform has provided a Southern California-based retail investor with a $17.6 mil bridge loan to finance the acquisition of a two-story, 43k sf, mixed-use creative of...
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• Upscale Mixed-Use Complex Opens Its Doors in Burbank’s Media District
5/22/19
Talaria Burbank, a new mixed-use development in Burbank, has opened its doors and is welcoming new residents. Developed by Cusumano Real Estate Group, Talaria features 241 designer apartment homes, anchored by a 42k sf Whole ...
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• Manhattan Village Inks Two New Restaurant Tenants
5/20/19
Two new restaurants have signed leases at Manhattan Village, the 44-acre, 573k sf indoor/outdoor retail center in the affluent South Bay city of Manhattan Beach owned by DWS Group. These latest deals are with dan by ROC (Repu...
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• Office Tower in L.A.’s Brentwood Neighborhood Purchased for $58 Mil
5/17/19
Brentwood Gateway, a 10-story, 104.7k sf office tower in Los Angeles’ Brentwood neighborhood, was acquired by Sargossa LLC, an affiliate of Fortress Investment Group, in a $58 mil ($554/sf) transaction. Built in 1977, the Cla...
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• Moulton Logistics Management Inc Renews 255k sf of Industrial Space in Van Nuys
5/17/19
Moulton Logistics Management Inc renewed leases totaling 255.4k sf of industrial space at two adjacent properties located in Van Nuys. Moulton – an order fulfillment & logistics provider founded in 1968 and headquartered in V...
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• Cerritos Bank-Occupied Building Trades for $1,250/sf
5/17/19
A 5.2k sf, absolute, NNN-leased single-tenant retail property in Cerritos sold for $6.5 mil, or $1,250/sf. The property, located at 11355 South St, is fully occupied by Comerica Bank. Built in 1974, the property includes 1.2...
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