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March 29, 2024
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SOUTHERN CALIFORNIA NEWS
Archive
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• ConAgra Terminates Lease at Park Place
1/23/07
ConAgra Foods Inc has reached a lease termination agreement with Maguire Properties Inc for 393k sf of space that the giant packaged food company occupies at Park Place in Irvine. The transaction, effective as of December 31,...
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• LA Fitness Works Out OC Sublease Deal for 60k sf of Space
1/23/07
LA Fitness, the Irvine-based health club chain, is looking to pump up its office space needs by subleasing about 60k sf of space in the John Wayne Airport area in a deal that should take effect in April. According to a recent...
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• Developer Can Clean Up with Toluca Lake Car Wash Opportunity
1/22/07
For those investors with a thirst for a more unique property acquisition, or a solid redevelopment opportunity, the Toluca Lake Car Wash, a local landmark for four decades in the southeast San Fernando Valley, has been listed...
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• Burbank Boutique Hotel Trades for $369k/Room
1/22/07
LaSalle Hotel Properties has purchased The Graciela Burbank, a 99-room, boutique hotel in downtown Burbank's Media District, for $36.5 mil ($369k/room). The independent luxury full-service hotel is located adjacent to the 134...
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• Pro Moves
1/19/07
Veteran SoCal brokers Craig Meyer and Steve Solomon have joined Jones Lang LaSalle as Senior Vice Presidents, to work out of the firm's recently opened South Bay office, located along the Rosecrans Corridor. The duo, consider...
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• KBS Closes $37 Mil Buy in Georgia
1/19/07
Newport Beach-based KBS Real Estate Investment Trust has acquired the Midland Industrial Portfolio in McDonough, Georgia, close to I-75 in the fast-growing Airport/South Atlanta submarket in metro Atlanta's Henry County. Buil...
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• Toyo Rolls into 500k sf Ontario Warehouse Space
1/19/07
Toyo Tires inked a five-year, $11.5 mil lease for a 506k sf ($0.38/sf/mo) warehouse property at 1900 South Rochester Ave, north of Mission Blvd and adjacent to the west side of I-15 in Ontario. The company plans to use the fa...
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• Balboa Instruments Records $9 Mil Renewal in Tustin
1/18/07
Balboa Instruments inked a seven-year, $8.9 mil renewal for their 120k sf ($.88/sf/mo) corp HQ/flex manufacturing facility in Tustin, in a transaction reported to be the largest R&D deal at the Irvine Business Complex during ...
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• AEW Picks Up Mission Valley Office Property
1/18/07
AEW Capital Management has acquired Rio San Diego Plaza I, a 189.5k sf office building at 8954 Rio San Diego Dr, just east of Qualcomm Stadium in San Diego's Mission Valley area. Completed in June 2001 as the first of two bui...
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• ING Clarion Makes an Executive Purchase in Tustin
1/17/07
ING Clarion, the LA-based pension fund advisor, purchased Tustin Executive Center, an 88.7k sf office building in Tustin. The property, which was sold by AMG Realty Partners LP, out of New York, traded for $22.8 mil ($257/sf)...
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• New Canyon Country Office Building to Break Ground
1/17/07
This week will mark the groundbreaking of the first new Class A professional office building to be built in Canyon Country in a number of years. Intended to meet the needs of local businesses serving Valencia, Santa Clarita a...
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• Historic Hollywood Property to Undergo Major Renovation
1/16/07
An 80-year-old residential/retail complex in the historic Whitley Heights neighborhood of Hollywood is about to undergo an extensive, multi-million dollar renovation that will completely update the property while striving to ...
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• SoCal Pro Moves
1/16/07
Jay Ash: Jay Ash was hired as a Senior Director at Johnson Capital, out of the company's Irvine office. Ash has over 12 years of commercial real estate investment experience. Most recently, he was a director for U.S. Realty ...
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• BTG to Develop $60 Mil Project for First United Methodist Church
1/16/07
BTG Advisors, a real estate consulting firm, has been retained by First United Methodist Church of Los Angeles to facilitate the development of an approximately 200k sf, $60 mil mixed-use project in downtown Los Angeles that ...
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• Latest Broadway Performance a $3.3 Bil Hit
1/15/07
NY-based Broadway Partners closed out 2006 with a $3.3 bil, 10-property office portfolio acquisition from Beacon Capital Partners, in a deal that included three prominent Los Angeles-area high-rises as well as the landmark 60...
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• RBA Properties Makes First Buy at Highland Skypark
1/15/07
RBA Properties LLC has completed the first purchase at Highland Skypark, a recently completed, five-building office park located north of Aero Dr and west of I-15 in Kearny Mesa. RBA acquired a 20.1k sf building at 3702 Ruffi...
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• KOR Group Picks Up Downtown LA Office Complex for $23 Mil
1/15/07
The KOR Group LLC has purchased a 60k sf office complex at 1212-1214 South Flower St, north of Pico Blvd and just east of the Convention Center in downtown Los Angeles, for $22.9 mil ($382/sf). KOR, an LA-based privately held...
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• Annual A.I.R. Event Scheduled for January 24
1/10/07
A.I.R.'s annual market review and forecast, one of the most popular yearly events for industry pros throughout the greater LA area, is set for January 24 at the Jonathan Town Club in downtown Los Angeles. The event's new free...
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• Bixby Shopping Spree Totals $31 Mil
1/10/07
Newport Beach-based Bixby Land Company recently acquired three SoCal industrial buildings, with a combined 215.7k sf of space, in three separate transactions that totaled approximately $31 mil ($144/sf) in value. ...
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• OC's Industrial and Office Asking Rates Reach Record Highs
1/09/07
Current economic conditions bode well for the commercial real estate industry in Orange County, as the region experienced record high lease rates in both the office and industrial sectors in the fourth quarter of 2006. During...
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