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March 29, 2024
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SOUTHERN CALIFORNIA NEWS
Archive
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• Employment Expected to Drive Inland Empire Office Growth
9/04/07
Continued strong demand for office space is the driving force for new spec office space in the Inland Empire, a trend that is expected to continue in the coming months. According to the second quarter Office Research Report f...
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• Bank Makes Federal Case of Playa Vista Office Lease
8/31/07
First Federal Bank of California is relocating to LA's rapidly evolving Playa Vista area, after signing a 12-year lease for a newly renovated, 89.2k sf three-story office building, located at 12555 Jefferson Blvd. The move al...
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• San Diego Lease Review
8/30/07
Businesses still need office space and nowhere is this more the case than in San Diego County, where companies are doing deals throughout the region. In this report we'll update you eight recent transactions from as far north...
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• Higgins Development Breaks Ground on Burbank Office Project
8/30/07
Higgins Development Partners just broke ground on a new seven-story, 363k sf office building in the city of Burbank. Called 2300 Empire Center, the $130 mil project represents the last phase of Empire Center, a mixed-use reta...
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• Hines and Buchanan Street Partners Pick Up Westside Development Site
8/29/07
A primo Santa Monica development site was acquired by a joint venture between TX-based Hines and Buchanan Street Partners. The property, a 7.16-acre site at the northeast corner of Olympic Blvd and 26th St, is located within ...
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• CBRE/Melody Capital Markets Arranges $36 Mil on Pair of SoCal Properties
8/29/07
The San Diego office of CBRE/Melody Capital Markets, CB Richard Ellis' real estate investment banking division, recently arranged the financing for a pair of notable SoCal deals. The financings, with a combined value of $36 m...
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• Solid Fundamentals Should Lead to Solid Growth in LA Office Market
8/29/07
LA County's office market is expected to enjoy steady revenue growth this year, thanks primarily to strong operating fundamentals and modest construction levels. At least that's the opinion of Marcus & Millichap Real Estate I...
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• LA Firm Spends $9 Mil on OR Office Complex
8/28/07
LA-based BH Properties has acquired One and Two Technology Center, two office/flex properties totaling 95k sf, located at 7431 and 7451 N.W. Evergreen in Hillsboro, a suburb of Portland, OR. The deal was valued at approximate...
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• Alliance Commercial Spends $15 Mil on Sorrento Mesa Office Asset
8/28/07
Alliance Commercial Partners LLC recently closed on a newsworthy SoCal acquisition, having paid $15.05 mil for Mira Mesa Business Park, a three-building, two-story, 58.7k sf ($256/sf) office and flex multi-tenant project in S...
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• LA's Union Bank Plaza to Be Sold for 3rd Time in Five Years
8/28/07
by Allen Wolfsheimer
A major downtown LA office tower has hit the market, as Hines, the big Houston, TX-based real estate firm, has listed Union Bank Plaza, a 40-story, 626k sf high-rise at 445 S. Figueroa St. The sales assignment was awarded to ...
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• AMB Receives Entitlements for Platinum Triangle Project
8/27/07
The Anaheim City Council approved the entitlements for AMB Property Corporation's value-added conversion project located in the city's master planned Platinum Triangle area. AMB's 17.5-acre industrial property is now entitled...
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• Muller and GE Team Up in $460 Mil Portfolio Buy
8/27/07
Laguna Hills-based The Muller Company, in partnership with GE Real Estate acquired a 3 msf portfolio, containing 19 separate business parks and properties, from Silagi Development & Management. The transaction has a total val...
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• $43 Mil is the Price to Save the Queen
8/24/07
A group of investors aptly named “Save the Queen” has been named as the winning bidder in the federal bankruptcy auction for the leasehold of the Queen's Seaport site in Long Beach. The group, which took the prize with a $43...
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• Pro Moves
8/23/07
Shane Cates: BentleyForbes appointed Shane Cates, Managing Director of Acquisitions, to the firm's Executive Committee. Cates will continue to serve in his current position, overseeing the sourcing, due diligence, financing, ...
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• $24 Mil Data Center Deal is EZ
8/22/07
Net2EZ Managed Data Centers, a provider of high-availability collocation and network services in the Western United States, has signed an 11-year lease for 20k sf at 600 West 7th St in downtown Los Angeles. The transaction ha...
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• Hudson Cash River Flows into Hollywood
8/22/07
Sunset-Gower Studios, the historic 15-acre Hollywood studio that was once the home of Columbia Pictures, was acquired by Hudson Capital Group for around $200 mil. The property, one of the largest independent studios in the ci...
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• Uline Lines Up 750k sf Ontario Facility in $37 Mil Lease
8/21/07
Uline Inc, a family-owned distributor of shipping, industrial and packaging materials, inked a 10-year, $37 mil lease for a 750k sf ($0.41/sf/mo) distribution facility at the Majestic Airport Center in Ontario. The company, H...
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• Sylmar Industrial Project Breaks Ground
8/21/07
Voit Development Company has broken ground on North Valley Commerce Center, a 200k sf industrial park in Sylmar. The project will be developed in back-to-back phases with Phase I consisting of 90k sf of for-sale industrial co...
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• Logistics Providers Find Homes in City of Industry
8/20/07
In this report, we'll update you on some recent industrial deal comps from the San Gabriel Valley. Four of the transactions are for sales, while the last deal is for a recent lease. We'll start in the City of Industry, where...
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• New Tenant at Riverside's Meridian Biz Park has a Lot of Seoul
8/20/07
Kia Motors America (KMA) has inked a 10-year lease for a 404k sf distribution center at 15001 Meridian Pkwy, within the Meridian Business Park in Riverside. The master-planned complex is the site of the former March Air Force...
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