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March 29, 2024
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LOS ANGELES COUNTY NEWS
Archive
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• Light Products Company Leases 37k sf San Fernando Industrial Space
5/19/17
German Light Products has signed a five-year relocation/expansion lease for 36.9k sf of space in the northern LA County city of San Fernando. The space is located at 1145 Arroyo Ave, within the San Fernando Business Center, j...
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• Shopoff Realty Investments Spends $52 Mil on LA Area Manufactured Housing Community
5/19/17
Shopoff Realty Investments has acquired a 45.89-acre manufactured housing community in the San Gabriel Valley city of El Monte for $52.7 mil. The property is located at 12700 Elliott Ave, west of I-605 about midway between I-...
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• Hollywood Res Project Lands $100 Mil in Construction Money
5/18/17
Rescore Property Corp has obtained $100 mil in construction financing for The Rise Hollywood, a 368-unit, seven-story apartment project in Hollywood. The project is located at 1331 North Cahuenga Blvd, within the Hollywood En...
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• Local Investor Buys Hollywood Recording Studio
5/16/17
The home of Grandmasters Recorders, an iconic recording studio on North Cahuenga Blvd in Hollywood, was acquired by LA-based Cahuenga Investors LP for $6.1 mil. The property, which includes a 9.2k sf commercial building on 8....
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• Legacy Partners to Completely Renovate a 209-Unit Res Property in West Covina
5/16/17
Legacy Partners is about to undertake a complete renovation of The Verandas, a 209-unit, 180k sf apartment community in West Covina. Legacy Partners, who has owned and managed the property since 2007, recently received Depart...
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• Long Beach Apartment Property Sells for $456k/Unit
5/16/17
Bay Shore Apartments, a nine-unit apartment property adjacent to the Belmont Shore neighborhood of Long Beach, was purchased for $4.1 mil by a private investor from Los Angeles. The property closed at a 3.8 percent cap rate a...
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• Diamond Bar Office Property Listed for Sale
5/16/17
We’ve learned of an LA-area office property that just hit the market -- Gateway Corporate Center, a two-story, 87.4k sf institutional-quality suburban office building in the San Gabriel Valley city of Diamond Bar. There is no...
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• Entertainment Industry Firm Buys LA Building for Conversion into a Production Campus
5/15/17
A 20.8k sf industrial building in Los Angeles sold for $7.78 mil, or $374/sf. The property, located at 1660 Beverly Blvd, east of Alvarado St, includes a 30.6k sf surface parking lot. Built in 1949, the property is located ...
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• Investor Picks Up Hollywood Apartment Property for $174k/Unit
5/15/17
An L.A.based limited partnership paid $6.25 mil for Carlton Canyon Apartments, a 36-unit ($173.6k/unit) multifamily property in Hollywood. The asset, located at 5826 Carlton Way, south of Hollywood Blvd on the west side of th...
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• Harridge Development Group Acquires Inglewood Property Approved for 310 Homes
5/11/17
Los Angeles-based Harridge Development Group has acquired Grace Park, a fully approved, 18-acre master-planned community entitled for 310 for-sale homes near the new NFL stadium development in the city of Inglewood. Harridge ...
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• L.A. Investor Pays $452k/Unit for Santa Monica Apartment Property
5/11/17
A six-unit apartment property in Santa Monica sold for $2.75 mil, or nearly $452k/unit. The property, located at 2728 Arizona Ave, sits on a large corner unit one block south of Wilshire Blvd. Built in 1947, the two-story p...
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• Los Angeles Retail Asking Rates Continue to Increase
5/10/17
In the first quarter of 2017, the Los Angeles retail market vacancy rate ticked up 30 basis points to 4.1% as 532.8k sf were delivered to the market, according to the latest research from NAI Capital. This new space includes ...
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• Commercial Real Estate Financing Briefs
5/10/17
NORTHMARQ CAPITAL -- Gardiner Champlin and Marty Meagher with NorthMarq Capital arranged the $61.2 mil refinance of three garden apartment complexes totaling 488 units owned by a local private family office. The properties ar...
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• Office and Retail Building in LA’s Brentwood Area Sells for Over $1,000/sf
5/09/17
Coral Tree Properties LLC paid $10.65 mil ($1,088/sf) for a 9.8k sf mixed-use property in West Los Angeles’ upscale community of Brentwood. The buyer intends to use most of the property as offices for their business. The ret...
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• Sherman Oaks Multifamily Property with Automated Parking Garage Sells for $400k/Unit
5/09/17
An eight-unit multifamily property in Los Angeles that includes the city’s first automated parking garage has traded for $3.2 mil ($400k/unit). It was purchased by Savannah Apartment Homes LLC. The property is located at 143...
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• Jeffrey Jennison Named CEO at Watson Land Company
5/09/17
Jeffrey Jennison has been named as Watson Land Company’s new Chief Executive Officer. Jennison has served as Watson’s president since 2014. The announcement completes a three year succession transition leading to the retireme...
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• Long Beach Apartment Property Sells for $200k/Unit and at a 4.3% Cap Rate
5/08/17
A private investor out of Signal Hill paid $2.65 mil for a 13-unit ($204k/unit) apartment property in Downtown Long Beach. The property closed at a 4.3 percent cap rate. Built in 1983, the two-story property is located at 33...
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• Vacant Res Property in West Los Angeles Sells for $18 Mil
5/05/17
The Boulevard, an unoccupied, three-story res structure in Los Angeles, sold for $18.05 mil. The 32.6k sf asset is situated on a 23.5k sf parcel at 12301 Santa Monica Blvd, at the corner of Wellesley Ave in West L.A. The pro...
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• DataDirect Networks Inc Signs Lease for 90k sf of HQ Space in Chatsworth
5/05/17
DataDirect Networks Inc (DDN) agreed to a 36-month, $2.4 mil lease for 90k sf ($0.74/sf/mo) of industrial space in Chatsworth. The space is in two buildings located at 9351 and 9223 Deering Ave, east of Canoga Ave and north o...
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• Van Nuys Fast Food Property Trades for Over $900/sf
5/04/17
A 4k sf Pollo Campero restaurant in Van Nuys sold for $3.65 mil in a deal that worked out to $907/sf and a cap rate of 5.63%. The property is located at 7249 Van Nuys Blvd, at the southwest corner of Van Nuys and Wyandotte St...
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