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July 8, 2020
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LOS ANGELES COUNTY NEWS
Archive
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• The Bascom Group Spends $9.7 Mil on 39-Unit Multifamily Property in El Monte
10/18/19
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...
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• Investor Pays $200k/Unit for Value-Add Res Buy in Long Beach
10/18/19
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 ...
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• Work Finished at Seniors Mixed-Use Community in LA’s Park Mesa Heights Neighborhood
10/17/19
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...
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• Construction of Orchard Medical Center is Underway
10/15/19
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...
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• Two Asian Food Tenants Ink Deals at Echo Park Redev Project Near Downtown LA
10/14/19
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...
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• Healthcare Realty Trust Buys Pasadena Medical Office Property
10/14/19
Healthcare Realty Trust, a publicly traded REIT, has boosted its portfolio with the acquisition of Cotton Medical Center, a 115k sf office property in Pasadena. The price was not disclosed. Cotton Medical Center is located a...
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• Long Beach Apartment Property Gets $237.5k/Unit in Recent Sale
10/11/19
A 12-unit apartment property in Long Beach sold for $2.85 mil ($237.5k/unit). The property is located at 5558 to 5562 Dairy Ave, just east of Long Beach Blvd and the 710 Fwy. Built in 1961, the two-building property totals 7...
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• Lynn Owen Named CEO at Compass Acquisition Partners
10/11/19
Veteran multifamily executive Ms. Lynn Owen has joined real estate investment firm Compass Acquisition Partners as CEO. Owen brings more than 30 years of real estate management experience from some of the largest companies in...
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• Office Tower Near LAX Sells for $45 Mil
10/10/19
A 306.2k sf office tower along Century Blvd in L.A.’s LAX corridor was acquired for $45 mil by a partnership led by North Sea Capital. The 15-story building, located 5901 Century Blvd, was 92% leased at the time of sale. It w...
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• Commercial Real Estate Financing Briefs
10/10/19
CONTINENTAL PARTNERS - Brian Asheghian with Continental Partners arranged a $34 mil loan for a newly constructed 144-unit multifamily asset in North Hollywood. The loan serves to refinance the existing construction loan on th...
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• Investor Exchanges in South Pasadena Lot Ground Leased to Rite Aid
10/10/19
A SoCal-based private investment company paid $7.2 mil for a ground lease parking lot adjacent to a Rite Aid store in South Pasadena. The 27k sf lot is located at 900 S. Fair Oaks Ave, west of Arroyo Pkwy near the northern t...
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• Harbor Associates Wraps Up $43.5 Mil Office Buy in San Pedro
10/09/19
Harbor Associates paid $43.5 mil for a 292.5k sf ($149/sf), Class A office building along San Pedro’s waterfront. The 11-story building, located at 222 W. 6th St, west of Harbor Blvd and south of the terminus of the 110 Fwy, ...
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• Former Woolworth Building in Glendale Goes for $18 Mil
10/09/19
A 43.4k sf, mixed-use retail and office property at 201 N. Brand Blvd in Glendale has traded for $18.1 mil, or $417/sf. The property was sold by Bow Truss Capital LLC. Formerly an historic Woolworth Building, the recently ...
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• Signal Hill Retail Center Sold by BIG Shopping Centers USA
10/09/19
Towne Center East, a fully leased, 154.8k sf retail center with multiple national anchors in Signal Hill, was acquired by an unnamed institutional buyer. The property was sold by BIG Shopping Centers USA, Inc. An institutiona...
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• Apartment Portfolio in Los Angeles’ Westlake/MacArthur Park District Sells in $48 Mil Deal
10/08/19
A three-property apartment portfolio comprised of 192 multifamily units in L.A.’s Westlake/MacArthur Park submarket, traded hands in a $48.25 mil ($251.3k/unit) deal. We’re told the transaction is one of the five largest deal...
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• Rexford Industrial Realty Spends $76 Mil on Trio of SoCal Industrial Assets
10/08/19
Rexford Industrial Realty has acquired three SoCal industrial properties for $76 mil. The purchases were funded using cash on hand. In the largest deal, Rexford acquired Slauson Commerce Center, located in City of Commerce w...
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• Los Angeles CVS Sells for $439/sf
10/07/19
A 16.5k sf, retail property in Los Angeles leased by CVS Pharmacy was purchased for $7.25 mil ($439/sf) by a local 1031-exchange investor. The property is located at 4501 W. Slauson Ave, at a signalized corner. It’s situat...
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• Sinanian Development Buys Dev Site in Tarzana
10/03/19
Sinanian Development paid $4.44 mil in an off-market sale for a 1.29-acre parcel of land in Tarzana. The site, located at 18600 Oxnard St, was sold by Columbia College Hollywood. The property was sold in a sale-leaseback of...
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• Distinctive Culver City Retail Building Sells for $650/sf
10/02/19
Tova Capital Inc has acquired the “Allied Model Trains” building, a 12.6k sf retail structure in Culver City, for $8.2 mil ($651/sf). The building is located at 4411 Sepulveda Blvd, east of the 405 Fwy and just south of Culve...
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• Ace Metrix Leases El Segundo Office Space
9/30/19
Ace Metrix inked a $2.2 mil lease for 9.1k sf of office space in El Segundo. The firm’s new location is at 1960 East Grand Avenue, a 12-story, 260.4k sf Class A building situated on 5.3 acres in the heart of El Segundo’s Supe...
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