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Waterfront Redevelopment Opportunity Listed in Downtown Long Beach 11/15/23 In news of a substantial redevelopment opportunity in Long Beach, Golden Shore, a prime 4.73-acre waterfront mixed-use development site in the city’s downtown, has been put on the market. The site is comprised of three parcel...
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L.A. Medical Center Wins Multi-Million Dollar Tax Dispute with LA County Assessor 11/15/23 A Los Angeles County hospital, committed to serving the city's homeless and disadvantaged communities, has won a significant multi-million dollar tax dispute with the LA County Assessor's office.
In 2019, LA Downtown Medi...
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First Retail Tenants at New Hollywood Park Mixed-Use Campus Project Have Opened their Doors 11/14/23 Development of Hollywood Park, a nearly 300-acre, world-class sports and entertainment destination in the city of Inglewood being built by Los Angeles Rams Owner/Chairman E. Stanley Kroenke, is well underway. According to sou...
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Sales Volumes in L.A. County's Commercial Real Estate Drop as Cap Rates Rise Amid the Fed's Rate Pause 11/13/23 This report provided by real estate services firm NAI Capital Commercial
In the third quarter of 2023, commercial real estate sales in Los Angeles County experienced a significant year-to-date decline in sales volume, accomp...
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Private Investor Pays $344k/Unit for Apartment Property in L.A.’s Hancock Park 11/13/23 An eight-unit apartment property in Los Angeles’ Hancock Park area sold for $2.75 mil ($344k/unit). The asset traded at a cap rate of 4.30% and a gross rent multiplier of 14.79.
Built in 1938, the value-add property is locat...
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West Hollywood Apartment Property Trades at 4.85% Cap Rate 11/10/23 A 12-unit apartment property in the Tri-West submarket of West Hollywood sold for $3.95 mil ($329k/unit). The property, located at 8514 Sherwood Dr, traded at a cap rate is 4.85% and a gross rent multiplier of 14.38.
Built i...
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West Covina Apartment Property Trades for $40 Mil 11/09/23 Sunset Square, a 140-unit multifamily property in West Covina, was acquired by B.A.G. Investments Inc in a $40 mil ($286k/unit) transaction. Built in 1964 and renovated in 2015, the four-building property is located at 745 N....
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Apartment Property in Old Town Torrance Goes for $437k/Unit 11/09/23 A private, 1031 exchange investor purchased an 11-unit multifamily community in Torrance for $4.81 mil, or $437k/unit.
Located at 1751 Cabrillo Ave in the desirable Old Town Torrance neighborhood, the property sits on over ...
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Cerritos Office Building is Traded 11/08/23 Plaza Tower, a 191.9k sf, multi-tenant Class A office property in Cerritos, traded hands in a recent transaction. The nine-story property, located at 18000 Studebaker Rd, was purchased by Logos Missions Inc.
Developed in 198...
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BLT Enterprises Finishes Renovations at Hollywood Soundstage Property 11/06/23 BLT Enterprises has completed a $1 mil renovation of BLT Studios, its wholly-owned and operated film studio and soundstage property located at 6309 Eleanor Ave in Hollywood. The renovations included interior, exterior, and HV...
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San Gabriel Shopping Center Purchased for $10 Mil by 1031 Exchange Investor 11/03/23 Las Tunas Plaza shopping center, a 17.5k sf neighborhood retail center in the city of San Gabriel, was acquired by a 1031 exchange investor in a $10 mil ($571/sf) transaction. The deal closed at a 4.74% cap rate.
Situated on...
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Work Underway on New 70k sf Building for Malibu High School 11/02/23 Work has started on the first phase of Malibu High School’s expansion for Santa Monica-Malibu Unified School District (SMMUSD). The 70k sf state-of-the-art building, scheduled for completion in fall of 2025, will feature a li...
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San Fernando Valley Res Community Sale Goes for $106 Mil 11/01/23 Summerset Village, a 280-unit multifamily property situated in the foothills of the Santa Susana Mountains, sold for $106.65 mil, or $381k/unit. The property is located at 11450 Poema Pl, just north of the 118 Fwy at Topanga ...
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Exchange Investor’s Car Wash Buy is Pure BLISS 10/31/23 A Los Angeles-based private investor paid $3.72 mil for the absolute triple-net ground lease of a new BLISS Car Wash in Valencia. The transaction was conducted prior to the completion of construction and before the tenant op...
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Res Community in L.A.’s Playa Vista Area Lands New Loan of $115 Mil 10/27/23 Barings Real Estate has obtained $115 mil in financing for The Ventana Luxury Apartments, a 405-unit, low-rise multi-housing community located in the master-planned community of Playa Vista.
The Ventana was originally constr...
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Pomona Res Community Sells in $35 Mil Transaction 10/26/23 Terramonte at Foothill, a 138-unit apartment property at the very eastern edge of L.A. County, in Pomona, traded for $35.5 mil, or $257.2k/unit. The property is located at 150 W. Foothill Blvd, just west of Garey Ave and sou...
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L.A. County Retail Vacancies Hit All-Time High of 18.2 msf 10/26/23 This report provided by real estate services firm NAI Capital Commercial
MARKET OVERVIEW
In Q3 2023, LA County's retail market recovery continued, marking three years post-pandemic. With construction easing and vacancy slo...
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Apartment Property in L.A.’s Silver Lake Neighborhood Sells for $573k/Unit 10/24/23 A 21-unit multifamily property in L.A.’s Silver Lake neighborhood traded for $12.05 mil, or $573.8k sf/unit. The property is located at 1185 Myra Ave, a block north of the confluence of Santa Monica and Sunset Blvds.
Located...
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CapRock Partners Secures $32.9 Mil Loan on San Dimas Industrial Property 10/23/23 CapRock Partners obtained $32.9 mil in financing for 300 East Arrow Highway, a single-tenant industrial building totaling 165k sf in San Dimas. The new non-recourse loan was arranged by Greg Brown, Peter Thompson, Kyle White ...
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Wimatex Inc Buys Vernon Shopping Center for $4.7 Mil 10/23/23 Vernon Shopping Center, a 14k sf retail asset located in the heart of the City of Vernon was acquired by California-based Wimatex Inc for $4.7 mil ($336/sf) as part of a 1031 exchange transaction.
Built in 2017 and situated ...
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