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Roy Reel Rejoins Harley Ellis Devereaux 7/05/11 Roy Reel has joined Los Angeles-based Harley Ellis Devereaux as their Business Development Manager. Reel, who retired from Irvine-based MVE & Partners in 2010, was with Harley Ellis Devereaux briefly in 2006 before they move...
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IREM-LA and UCLA Extension to Provide Industry Intern Opportunities 7/01/11 The Los Angeles Chapter of the Institute of Real Estate Management (IREM) will be collaborating with UCLA Extension to provide internship opportunities beginning in the fall of 2011 in a program that offers a win-win scenario...
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1650-Bed USC Student Housing Property Listed for Sale 6/30/11 University Gateway, a 1,656-bed student housing community located adjacent to the University of Southern California (USC) in Los Angeles, was listed for sale by its owner, University Gateway Owner LLC. The property, which in...
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Lockton Renews 72k sf Downtown LA Office Space 6/30/11 Lockton Insurance Brokers inked a renewal deal for 72k sf of office space in downtown Los Angeles at Ernst & Young Plaza. The 41-story, 915.3k sf, Class A office building is located at 725 S. Figueroa St, a few blocks north o...
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LAX-Area Retail Center Sells for $324/sf 6/29/11 Westchester Place, a two-story, 50.9k sf retail center in Los Angeles, recently sold for $16.5 mil, or about $324/sf. Located at 8820-8844 South Sepulveda Blvd, the property includes retailers such as Bed Bath & Beyond, Starb...
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Historic Adaptive Reuse Res Project in Downtown LA Hits the Market 6/28/11 National City Tower, an historic adaptive reuse development in downtown Los Angeles, has been put listed for sale with an asking price of $32.75 mil. The 12-story, 118.2k sf property consists of 93 residential lofts that are ...
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Westside Commercial Properties Sell 6/28/11 We've got two recent sales of Westside commercial properties to report. We'll start in Beverly Hills, where a 5.6k sf office building located at 417 S. Beverly Dr was purchased for $2.475 mil ($442/sf).
Michel Hibbert of Cha...
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Investors Get Industrious in the San Fernando Valley 6/28/11 In this article we’ll report on two recent acquisitions in the San Fernando Valley. In Canoga Park, a 22.1k sf multi-tenant industrial building was sold to a private investor for $2.55 mil, or $115.38/sf. The property is loca...
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George Smith Partners Adds Two Industry Leaders 6/27/11 Commercial real estate investment banking firm George Smith Partners has hired Bryan P. Shaffer as a Senior Vice President and Malcolm Davies as a Vice President, according to David Rifkind, Principal and Managing Director of...
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LA City Leasing News 6/24/11 In Brentwood, at 11601 Wilshire Blvd, Wells Fargo Bank signed a five-year renewal for the entire 17th floor of the building, which is owned by Equity Office. The lease is valued at roughly $4 million, which works out to an av...
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NoHo Multifamily Property Sells for $163k/Unit 6/24/11 A 15-unit multifamily in North Hollywood recently sold for $2.45 mil ($163k/unit), in a deal we’re told is among the highest prices paid on a per square foot and on a gross rent multiplier basis in the immediate submarket sin...
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South Bay Activity 6/23/11 Cassidy Turley BRE Commercial announced that agents in its San Diego office brokered the $8 million sale of the 5.6-acre of land located on the southeast corner of Golden Avenue and West Broadway in the Long Beach Central Bus...
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Investor Pays $220k/Unit for LA Westside Apartment Property Near The Grove 6/23/11 An eight-unit, 8.2k sf multifamily property located at 8233 Blackburn Ave recently sold for $1.765 mil, or about $221k/unit. The property is located north of Wilshire Blvd, between Fairfax Ave and La Cienega Blvd. The two-sto...
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Fastsoft Leases Pasadena Office Space 6/22/11 In recent leasing activity from the Tri-Cities /eastern San Fernando Valley, software firm Fastsoft inked a $1.2 mil, long-term for 6.7k sf of office space in Pasadena. The company will take occupancy of its new space, at 257...
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GH Palmer Gets $92 Mil Refi On 566-Unit Orsini II in Downtown LA 6/21/11 George Smith Partners has arranged $92 million in new debt and preferred equity to refinance the maturing construction loan on Orsini II Apartments, the 566-unit apartment complex located in downtown, LA. The owner of the pro...
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Graham Allchorn Partners with NewMark Merrill Companies 6/20/11 Graham Allchorn, has joined with NewMark Merrill Companies as Managing Director & Principal of NewMark MerrillDevelopment Partners (NMC Development Partners). With Allchorn’s expertise, NMC Development Partners plans to expan...
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Rare Sylmar Apartment Sale Valued at Just Over $9 Mil 6/20/11 Foothill Glen, an 81-unit apartment property in the northeastern San Fernando Valley community of Sylmar, sold for $9.1 mil, or $112.3k/unit. We’re told by Marcus & Millichap that this is a rare transaction for the area, as o...
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Paradise Capital Group Acquires 50,000 SF Paraiso Town Center in Thousand Oaks, CA 6/17/11 Real estate investment firm Cardinal Equities, through its affiliate Paradise Capital Group, has acquired from U.S. Bank, a 50,000 square-foot retail and office complex in Dos Vientos Ranch, a master planned community in Thou...
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Multifamily News Briefs 6/17/11 EL CAJON (SAN DIEGO COUNTY) - Lexington Gardens Apartments, an 41-unit apartment building, at 1371 E. Lexington Avenue in El Cajon has been purchased for $4,100,000, or $100,000 per unit. The seller, Mar Group (Lexington Ave....
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Price is Right for LA Realty Partners 6/16/11 Veteran real estate leasing pro Tony Price has joined LA Realty Partners, a leading West LA-based brokerage firm founded in 2010, as a Director of the company. Prior to joining L.A. Realty Partners, Tony held a senior leasing...
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