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• Unique Property in Downtown Hermosa Beach Sells for $775/sf
8/12/19
The Bijou Building, a 23.2k sf, three-story mixed use office/retail building located in downtown Hermosa Beach, traded hands in a recent $18 mil ($776/sf) transaction. The property is located at 1221 Hermosa Ave, just one blo...
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• San Fernando Valley Apartment Community Gets a New Owner in $23 Mil Transaction
8/09/19
Branford Villas, a 100-unit multifamily community in Pacoima was acquired for $23.5 mil ($235k/unit) by a local, LA-based investor. The property is located at 12711 Branford St, a few blocks east of I-5.
Built in 1987, Bran...
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• Optimus Properties Sees Value-Add Opportunity in $22 Mil Medical/Office Buy in the San Fernando Valley
8/09/19
Optimus Properties LLC has purchased Tarzana Tower, an 84.8k sf Class A office/medical building in the western San Fernando Valley. The building, located at 18321 Ventura Blvd in Tarzana, sold for $22 mil ($259/sf).
The asse...
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• Multifamily Project in L.A.’s Koreatown Neighborhood Funded with $16 Mil Loan
8/07/19
We’ve learned of a new six-story, 65-unit apartment development planned in the Koreatown neighborhood of Los Angeles. Construction is being funded with a $15.9 mil loan provided by Parkview Financial on behalf of St Andrews P...
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• Partnership Between DJM and Gaw Capital USA Buys Hollywood & Highland Retail Center from CIM Group
8/06/19
Hollywood & Highland, the 460k sf retail and entertainment center located at 6801 Hollywood Blvd, in the heart of Hollywood’s tourism and business district, was acquired by a venture between private equity real estate firms D...
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• Whole Foods Inks Anchor Lease at New Development on L.A.’s Westside
8/05/19
Whole Foods Market has agreed to a lease for a 50k sf, flagship grocery store to anchor Cumulus District, an urban, mixed-use development on Los Angeles' Westside. The project, located at at 3321 La Cienega Blvd, at the corne...
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• Want to Find Out What's In Store for L.A.'s Westside? Attend RENTV's State of the Market Conference on Sep 6
8/01/19
RENTV's 4th Annual Westside Los Angeles State of the Market Conference -- to be held on September 6 -- will feature a series of informative panels comprised of retail experts, multifamily dealmakers, office principals and al...
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• Carson Retail Property Sells for $446/sf
8/01/19
Carson Bonita Plaza, a 28.2k sf feet retail center in Carson, was purchased for $12.6 mil. We’re told that the cost of $446.50/sf is the highest price per square foot for a retail property sold in the City of Carson this past...
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• Foreign Investor Buys Leasehold Interest in San Gabriel Valley Retail Center
8/01/19
A private foreign investor paid $13.65 mil for the leasehold interest sale of Glendora Commons, a 41.7k sf, newly constructed, fully leased grocery-anchored retail center located in Glendora. The asset was sold by Seagrove Pr...
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• Vacant Building near Cedars-Sinai Medical Center in L.A. Sells for $1,400/sf
7/30/19
A vacant, 5.1k sf building adjacent to Cedars-Sinai Medical Center in Los Angeles sold for $7.2 mil ($1,412/sf). The property is at 8741 Alden Drive, just off Robertson Blvd, and could be used for a variety of purposes, inclu...
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• Exchange Investor Spends Over $10 Mil on 53k sf Biz Park in Rancho Dominguez
7/30/19
A 1031 exchange investor paid $10.45 mil for Laurel Park Commerce Center, a fully occupied, 53k sf ($197/sf) business park in Rancho Dominguez, within southwest L.A. County. The property was sold by PRG Investment & Managemen...
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• Santa Monica Apartment Building Sells for Over $400k/Unit
7/30/19
A 24-unit apartment building in Santa Monica sold for just over its asking price of $10 mil, which works out to around $416k/unit. An undisclosed New York buyer acquired the asset from a 3rd generation ownership entity of ove...
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• Apartment Building near Downtown Culver City from 1963 Trades for $317k/Unit
7/29/19
A 14-unit apartment property in Los Angeles was acquired by a San Francisco-based investor for $4.44 mil, or $317k/unit. The property is located at 3240 Fay Ave, south of Venice Blvd and west of La Cienega Blvd. It is situate...
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• Long Beach Apartment Property Bought by L.A. Investor in $4.65 Mil Deal
7/26/19
In a recent apartment comp from Long Beach, a value-add, 20-unit property sold for $4.65 mil ($232k/unit). The property, located at 5075 Atlantic Ave, was sold by Torrance-based Realty Holding PSJC LLC.
Built in 1979, the p...
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• Glendale Apartment Sales Comp Comes in at $272k/Unit
7/26/19
A Glendale-based private investor paid $7.9 mil, or $272.4k/unit, for Lexington Apartments, a 29-unit multifamily property in Glendale. The property, located at 1111 E. Lexington Dr, was sold by The San Diego Zoo Global.
Bui...
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• Los Angeles and Orange County Rank as Two of the Top Markets for U.S. Net-Lease Investment in 2018
7/24/19
This report was provided by global real estate services firm CBRE
Los Angeles ranked 4th and Orange County ranked 13th among the top 20 markets in U.S. net-lease investment in 2018, according to a recent report from CBRE. I...
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• Sterling Organization Pays $35 Mil for Melrose Crossing
7/23/19
Melrose Crossing, a two-building, 24.5k sf assemblage of high-street retail and creative office space just outside West Hollywood, sold for $35 mil. The buildings are located at 8378-8380 and 8379 Melrose Ave, positioned acro...
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• San Fernando Valley Multifamily Property Trades for $250/Unit
7/22/19
Cambridge Courtyards, a 28-unit multifamily asset located in the heart of the San Fernando Valley, sold for $7 mil, or $250k per unit. The property is located at 17931 Devonshire St, south of the 118 Fwy and just west of Whit...
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• New York-based Vella Group Pays $50 Mil for El Segundo Office Campus
7/19/19
A two-building, 200.2k sf office campus in Los Angeles’ El Segundo submarket traded hands for $50.8 mil ($254/sf). The property, located at 650 and 700 Pacific Coast Highway, is entirely leased to Boeing through the end of 20...
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• San Fernando Valley Apartment Building Sale Provides $250k/Unit Comp
7/18/19
A private investor has acquired Casa Bryant, a 20-unit, mid-century apartment building in the western San Fernando Valley community of Canoga Park submarket, for $5 mil ($250k/unit). The property is located at 21024 Bryant St...
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