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July 5, 2020
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SOUTHERN CALIFORNIA NEWS
Archive
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• Mitsui Fudosan America Looking to Break Ground this Year on 41-Story Res Tower in Downtown Los Angeles
4/21/20
Here is a rendering of the completed design of Eighth and Figueroa, a 41-story residential tower project in Downtown Los Angeles, targeted to break ground in 2020. The tower is a development of Mitsui Fudosan America and was ...
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• Lawndale Retail Property on Hawthorne Blvd Trades for $2.95 Mil
4/21/20
An 11.7k sf, retail storefront property in Lawndale sold for $2.95 mil, or $252/sf. Built in 1955, the property is located at 16711-16725 Hawthorne Blvd, a few blocks south of the 405 Fwy. The building was renovated in 2002...
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• Private Investor Buys 27k sf of Properties along Westwood Blvd in Los Angeles
4/21/20
An unnamed private investor has purchased three parcels in West Los Angeles totaling roughly 27k sf. The properties are located at 2107-2121 Westwood Blvd, east of the 405 Fwy and a few blocks north of Olympic Blvd. They incl...
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• Escondido Res Property Fetches $34.7 Mil
4/21/20
Sage Apartments, a 137-unit multifamily property located in the North San Diego County city of Escondido, sold for $34.7 mil, or $253.3k/unit. The 86.7k sf property is located at 1920 and 1960 E. Grand Ave, east of Hwy 78 and...
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• Quick N Clean Car Wash Buys One-Acre Site in Victorville
4/20/20
Quick N Clean Car Wash paid $1.55 mil for a one-acre land parcel in Victorville. The land, located at 14812 Bear Valley Rd, will be the site of the firmís first location in SoCalís Mojave River Valley region. The new self-se...
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• Distillery Leases 48k sf San Diego Area Facility
4/20/20
Cutwater Spirits has leased a 48k sf, freestanding industrial building in San Diegoís Miramar neighborhood. The new space will provide additional storage for the companyís expanded focus on creating hand sanitizer and its exi...
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• Two Multifamily Properties in L.A.ís Palms Neighborhood Fetch $9.5 Mil
4/16/20
Private investors have acquired two multifamily properties with a combined 29 units in L.A.ís Palms neighborhood in separate deals totaling $9.565 mil. Both properties had been owned by the seller for over 30 years and are co...
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• Two-Tenant Retail Property in the San Fernando Valley Sells for $715/sf
4/15/20
A 13k sf, net-leased property in the San Fernando Valley community of Reseda sold for $9.3 mil, or $715/sf. It is located at 6400-6416 Tampa Ave, at the northeast corner with Victory Blvd. The property is leased to Yogurtla...
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• Uline Inks Deal for 1.25 msf Distribution Facility in Ontario
4/14/20
Uline has agreed to lease a 1.245 msf distribution facility from REDA and Clarion Partners LLC in Ontario. The building is located at 4815 South Hellman Ave, west of Archibald Ave between Mission Blvd and the 60 Fwy, within t...
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• Los Angeles Industrial Property Sells for $392/sf
4/14/20
A 15.3k sf, industrial property in Los Angeles sold for $6 mil, or $392/sf. The property is located at 5111 and 5119 Washington Blvd, north of I-10 and just west of La Brea Ave. Brandon Michaels with Marcus & Millichap repr...
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• Inland Empire Res Community Trades for $45.5 Mil
4/14/20
The Heights at Grand Terrace, a 228-unit community in Grand Terrace, was acquired by an East Coast-based investment entity for $45.5 mil, or $199.6k/unit. The property is located at 22491 DeBerry St, south of I-10 and just ea...
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• Motel 6 Property in the San Fernando Valley Sells for $9 Mil
4/13/20
A 131.4k sf, Motel 6 hospitality property in the northern San Fernando Valley sold for $9 mil. The property is located at 15701, 15711 and 15725 Roscoe Blvd, just west of the 405 Fwy in North Hills. Brandon Michaels, Steven ...
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• Rexford Industrial Realty Spends $15.5 Mil on Azusa Industrial Asset
4/13/20
Rexford Industrial Realty Inc purchased a 71.7k sf industrial property in the San Gabriel Valley for $15.5 mil. The asset was acquired through a sale-lease-back, off-market transaction underwritten on a land value basis that ...
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• OC Biz Park Picked Up by Local Exchange Investor
4/10/20
Yorba Linda Business Center, a four-building, 115.8k sf industrial property in Yorba Linda, was acquired by an OC private investor who was completing the upleg of a 1031 exchange. The price was not disclosed. Built in 1998, ...
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• Universe Holdings Spends $25 Mil on 122 Res Units in the San Fernando Valley
4/10/20
Universe Holdings has acquired a 122-unit multifamily portfolio in the northern San Fernando Valley community of Granada Hills for $25.5 mil, or $209k/unit. The acquisition increases Universeís portfolio in the San Fernando V...
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• Meta Housing Corporation and Western Community Housing to Develop OC Affordable Housing Project
4/10/20
Meta Housing Corporation and Western Community Housing plan to develop a three-story, 65-unit, affordable and permanent supportive housing multifamily community in Westminster. The $42 mil development will provide quality aff...
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• Camarillo Strip Center Fetches $600/sf
4/09/20
A private investor paid $4.8 mil for an 8k sf ($600/sf) strip center in Camarillo. The center is located at 415 W. Ventura Blvd, adjacent to the 101 Fwy between Springville Dr and Las Posas Rd. Built in 2020, the center is a...
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• Investor Spends Over $2 Mil on Ventura Office Asset
4/08/20
A 15.8k sf office building in Ventura sold for $2.09 mil, or $132/sf. The building is located at 877 S. Victoria Ave, next to the Ventura County Government Center, with convenient access to the 101 Fwy and Hwy 126. Built i...
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• Valencia Circle K Ground Lease Trades for $4 Mil
4/08/20
A Beverly Hills-based private trust acquired an absolute triple-net ground lease for a new construction, single-tenant Circle K convenience store and gas station in Valencia. The asset, located at 24010 Copper Hill Dr, sold f...
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• Murphy Development Completes Completes Work on Spec Industrial Facility in Otay Mesa
4/06/20
Murphy Development Company (MDC) has completed construction on the final building at The Campus at San Diego Business Park, a 137k sf spec industrial building on seven acres just north of the U.S. / Mexico border. The additio...
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