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• Four-Building Industrial Park in City of Industry Goes for Over $300/sf
11/29/22
A four-building, 95.7k sf freestanding industrial park in City of Industry was purchased by Newport Beach-based Focus Real Estate and their joint venture equity partner Long Wharf Capital, in a $30.75 mil ($321/sf) transactio...
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• UCLA Defeats USC in Annual NAIOP SoCal Silver Shovel Competition
11/29/22
On the 25th anniversary of the NAIOP SoCal UCLA vs USC Real Estate Challenge, it was UCLA’s five-member graduate student team that took home the Silver Shovel.
The event, held November 17 on the UCLA campus, pit five-member...
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• Apartment Building in L.A.’s Echo Park area Trades for $380k/Unit
11/28/22
A 10-unit apartment property located in L.A.’s Echo Park area sold for $3.8 mil, or $380k/unit. Built in 1966, the property is located at 1330 Portia St and is subject to Los Angeles rent control.
The property consists of on...
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• Northland Closes $500 Mil Res Buy in Downtown L.A.
11/23/22
In a recent multifamily asset trade, Northland purchased THEA at Metropolis, a 685-unit, ultra-luxury, high-rise multi-housing community located in Downtown Los Angeles, for $504 mil. The 59-story res high-rise was sold by a ...
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• Kidder Mathews’ Linda Lee Named 2023 President of CCIM’s Greater Los Angeles’ Chapter
11/22/22
Kidder Mathews Executive Vice President Linda Lee, CCIM, has been elected 2023 President of CCIM’s Greater Los Angeles’ chapter. She is joined by the firm’s Vice President Francisco Williams, CCIM, who has been elected as the...
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• Santa Monica Mixed-Use Building Goes for Over $600/sf
11/17/22
A 15.1k sf mixed-use building in Santa Monica traded hands in a $9.25 mil ($613/sf) transaction. The building, located at 1617 Broadway, was constructed in 2002 and recently remodeled.
Located half a mile from the beach, th...
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• The Ratkovich Company and Jerico Development Inc Secure $35 Mil for Construction of San Pedro Waterfront Retail Development
11/17/22
A venture between The Ratkovich Company and Jerico Development Inc is developing a 42-acre, multi-tenant retail center at the former site of Ports O’ Call Village in San Pedro. The transformative project, West Harbor, is now ...
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• Office Property in L.A.’s SoRo Neighborhood Lands New Owner in $6 Mil Deal
11/16/22
A 14.3k sf office property in the South Robertson neighborhood of Los Angeles was purchased for $6 mil ($420) by a non-profit user. The unique property includes two adjacent parcels of land at 1818 and 1824 South Robertson Bl...
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• Workforce Housing Project in L.A.’s Mid-City Area Expected to Finish Up in Spring 2023
11/15/22
A new 123-unit workforce housing project in Los Angeles’ mid-city area is underway and expected to wrap up construction in spring 2023. The development, Liv on Pico, will provide much-needed housing adjacent to Culver City an...
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• L.A. Metro and A Community of Friends Start Construction on Affordable Housing Complex in Boyle Heights
11/14/22
The Los Angeles County Metropolitan Transportation Authority (Metro) and A Community of Friends, a nonprofit specializing in developing supportive housing, have broken ground on construction of a new affordable housing develo...
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• Nadel Architecture + Planning Forms Partnership with Lisbon-based Saraiva + Associados
11/14/22
Los Angeles-based Nadel Architecture + Planning has formed a partnership with Lisbon-based Saraiva + Associados (S+A). S+A maintains the 9th largest residential practice in the world and is the largest architectural firm in ...
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• Six-Unit Res Property in Santa Monica Goes for $442k/Unit
11/11/22
A Los Angeles-based private investor paid $2.65 mil for a six-unit ($442k/unit), townhome-style apartment property in Santa Monica. The property is located at 1814 9th St, just east of Lincoln Blvd on the south side of I-10.
...
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• Rowland Heights Dev Site Sells for $143/sf
11/11/22
Heights Custom Homes LLC spent $3 mil for a 0.48-acre ($143/sf) parcel of land in Rowland Heights. The new owner plans to develop the site into a neighborhood shopping center.
The land is located at 18505 Colima Rd, on a sig...
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• Palmdale Land Sites Totaling almost 28 Acres Purchased for $7.25 Mil
11/09/22
P&L Realty LLC acquired three undeveloped land sites totaling 22.75 acres in Palmdale for $7.25 mil. Located in Antelope Valley between 10th St West and Highway 14, the trio of properties are part of the Palmdale Trade and Co...
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• Recent Leasing Activity at Pasadena Class A Office Tower Totals 73k sf
11/07/22
Recent activity at 301 N. Lake Ave in Pasadena has included eight new major leases and two lease expansions totaling more than 73k sf. The 227k sf, Class A office building is owned by Barker Pacific Group, which acquired the ...
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• Watch Industry Pros from Walker & Dunlop, Fidelity Mortgage Lenders, Axos Bank and Torrey Pines Bank Discuss the Los Angeles Finance Market at RENTV Conference
11/07/22
Expert finance panel comprised of: Peter Steigleder, President Fidelity Mortgage Lenders; Fred Ornelas, Regional Manager, Axos Bank; Sean Skelton, CCIM, Director | Capital Markets, Walker & Dunlop; and Jeff Forsythe, Senior V...
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• Value-Add Long Beach Apartment Sells for $300k/Unit
11/07/22
A local private investor paid $6.64 mil for a 22-unit ($302k/unit) apartment property in Long Beach. The property, located at 4114 to 4118 Elm Ave in the city’s Bixby Knolls submarket, is viewed as a value-add opportunity.
...
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• North Palisade Partners Starts Work on New Distribution Project in Vernon
11/02/22
North Palisade Partners has broken ground on Palisade Santa Fe Center, a 59k sf, Class A industrial property in Vernon. The site is located at 5655 Santa Fe Ave, south of I-10 and east of I-110 in the mid-cities L.A. area.
T...
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• Apartment Building in the Western San Fernando Valley Fetches Nearly $400k/Unit
11/01/22
Vince Norris, Jim Fisher, Mike Smith, Steven Goldstein, Bryan Schellinger, Mike Hanassab, and Elliot Hassan with Northmarq represented the Los Angeles based seller, Xenon Investment Corp.
A 29-unit, fully renovated apartmen...
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• Evite Leases 23k sf Glendale Building
10/31/22
Evite has leased an existing 23k sf building in downtown Glendale for the firm’s new headquarters. The online invitation company is relocating from downtown Los Angeles. Terms of the deal were not disclosed.
Evite is redevel...
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