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March 25, 2023
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SOUTHERN CALIFORNIA HEADLINES

 News

 Etc. Etc...
Single-Tenant Industrial Building in Covina Gets New Owner in $11.8 Mil Deal
3/24/23
32k sf facility sits on over two acres

Class B Office Building in Woodland Hills Bought for $173/sf
3/23/23
Buyer to reposition the asset to meet changing needs in the area



Organic Grocery Store Erewhon Brings Culver City Mixed-use Project to Fully Leased
3/23/23
Hackman Capital’s 120k sf The Culver Steps mixes 11 retailers with Amazon Studios-occupied office space

Inland Empire Absolute NNN Ground Lease of a Dutch Bros Coffee Drive-Thru Goes for $2.3 Mil
3/22/23
New 871 sf store is part of Highland Village Shopping Center in Fontana



New Riverside Distribution Facility Leased to Logistics Plus Warehousing & Fulfillment
3/21/23
374k sf structure is phase II of Columbia Business Park

Sakioka Farms Pays Over $500/sf for Ontario Retail Center
3/21/23
$54 mil deal is for 95k sf New Haven Marketplace

Carlsbad Warehouse Property Purchased for $11.8 Mil
3/20/23
Private investor buys 32k sf facility in off-market deal

Ontario Retail Center Trades in $54 Mil Deal
3/17/23
95k sf New Haven Marketplace goes for $568/sf

GPI Companies Set to Build 200-Unit Res Community in West Los Angeles
3/16/23
JLL arranges $84 mil in construction money for Overland and Ayres project

Private Investor Pays $245/sf for San Bernardino Retail Building Occupied by Office Depot
3/15/23
20k sf structure is in the Tri City Commons/Hospitality Lane District

Bridge Industrial Has Nearly 4 msf of New Industrial Development Scheduled for Delivery in 2023
3/15/23
The company has a portfolio of over 9.5 msf in the state

North Palisade Partners Opens First Self Storage Development
3/15/23
New facility features 1,500 units

West Los Angeles Apartment Building Trades for $428k per Unit
3/14/23
Deal is for 27-unit The Glendon Apartments in the Palms area

Ground Lease for South OC Retail Center Trades in $14 Mil Buy
3/14/23
Deal is for 111k sf Lake Forest Marketplace

Sunrise Management takes Over at The Warwick in San Diego’s Hillcrest Nieghborhood
3/14/23
80-unit res community was acquired by Spectrum Partners last year in $37 mil deal

The Goddard School Signs Ground Lease for 1.44 Acres at South Coast Orange County Community College
3/13/23
Land will be used for construction of a 14k sf pre-school

Lovett Industrial Lands $25 Mil for Construction of Inland Empire Industrial Development
3/13/23
Financing will be used for 114k sf Rialto II

Menifee Industrial Development Land Trades for $61 Mil
3/10/23
Patrinely Group purchases 34-acre site for Phase II of Scott Road Commerce Center

Westport Properties Buys 700-Unit Self-Storage Property in Chino
3/10/23
Firm to rebrand asset under their US Storage Centers entity

Exchange Investor Struck $13.5 Mil Deal for OC Biz Park
3/09/23
43k sf Struck Business Park sold by MCA Realty for $315/sf

Kidder Mathews SoCal Growth Leads to Opening of New Office in the San Fernando Valley
3/09/23
Brokers joining the new location include Joe Bellavia, Ryan McKenzie, Jack Roney, Jordan Fischer and Austin Grant

SENTRE Closes 148k sf Industrial Buy in Poway
3/09/23
JLL arranges $21.4 mil in purchase money

Inland Empire Industrial Land Sold in $39 Mil Transaction
3/08/23
Alere Property Group buys 17.4 acres in Fontana

Lewitt Hackman Renews Its 23k sf Encino Office Space
3/08/23
10-year deal is said to be worth around $10 mil

City of Santa Ana Spends $10.5 Mil on 2.5-Acre Industrial Property
3/07/23
Asset includes a 3.9k sf building

Kairos Investment Management and Harbor Associates Buy Hollywood Office Tower
3/07/23
Purchase of 208k sf 6922 Hollywood Blvd viewed as distressed asset opportunity

New 82-Unit Affordable Housing Community in DTLA’s Skid Row Completed
3/07/23
LAMP Lodge a development of Meta Housing and The People Concern

Carlsbad R&D Building Fetches $18.6 Mil in Second Trade in Just Over a Year
3/06/23
Building was sold by Luminous Capital Management and Virtus Real Estate Capital, who acquired the property for $9.6 mil

Palmdale Retail Asset Purchased for $458/sf
3/03/23
12k sf property is part of 450k sf Palmdale Marketplace

MIG Buys 157k sf Inland Empire Industrial Project
3/03/23
$26 mil deal is for Gifford Business Park in San Bernardino

Hillwood Investment Properties and CBRE Investment Management are Buying 433 Acres in the Inland Empire for $544 Mil
3/02/23
Auto Club Speedway land in Fontana is entitled for 6.6 msf of industrial development

Tishman Speyer Starts Work on Santa Monica Res Projects
3/02/23
Four multifamily buildings are first phase of the firm’s Santa Monica Collection development

El Cajon Apartment Portfolio Trades in $16 Mil Deal
3/02/23
Transaction was for three properties totaling 61 units

Thinkwell Relocates Well in Burbank
3/02/23
Production agency takes 14k sf at Empire Studios building

Investor Spends $3.2 Mil on New Inland Empire Quick Quack Car Wash Ground Lease
2/28/23
Asset is part of Moreno Valley Marketplace Shopping Center

$16.8 Mil Sandi Simon Center for Dance Completed at Chapman University
2/27/23
R.D. Olson is general contract for adaptive reuse of a packing house built in 1918

Costa Mesa Industrial Sales Comp Works out to $315/sf
2/27/23
Freestanding flex structure contains 19.3k sf of space

Covina Industrial Building Sells for $7.25 Mil
2/27/23
Owner/user picks up vacant 32k sf facility

Lew Horne to be Inducted into NAIOP SoCal Hall of Fame
2/24/23
CBRE President of the Greater Los Angeles, Orange County and Inland Empire regions to be recognized at 2023 Industry Awards Gala

Ian Schrager and Ed Scheetz Acquire Former Standard Hotel in West Hollywood for Rebranding into a PUBLIC Hotel property
2/24/23
Deal was funded with $86 mil loan provided by iBorrow and Reuben Brothers

Office Building in West Covina Gets New Owner in $22 Mil Trade
2/23/23
Atrium on the 10 goes for $220/sf

Palmdale Office Building Trades for $369/sf
2/23/23
58k sf structure is 94% leased to government entities

Westport Properties Spends $19 Mil on Inland Empire Self-Storage Asset
2/23/23
Deal is for 81k sf Chino Mini Storage

Investor Spends $9 Mil on Inland Empire Industrial Development Parcel
2/22/23
15.6-acre site is in Moreno Valley

Two New 7-Eleven Stores in Riverside County Trade in Deals Totaling Over $10 Mil
2/22/23
Indio and Perris assets acquired by separate investors

See the Speaker Panels from March 16 OC CRE Conference
3/20/23
Photos of all the industry pros who participated in RENTV's 2023 Orange County State of the Market Conference

San Diego County Medical Office Sector Ends 2022 with Uptick in Activity
3/16/23
Leasing activity up at the close of 2022, while rents continue to rise, according to report from JLL

RENTV's 2023 Inland Empire State of the Market Conference is on Tuesday, May 9 at the Embassy Suites by Hilton Ontario Airport Hotel
3/14/23
The event will feature high-powered panels of top local executives and dealmakers discussing the Office, Retail, Industrial, Multifamily and Finance markets throughout the Inland Empire. The conference will open for registration at 8:00 AM with the program starting at 9:00 AM. The event will include a networking lunch with a keynote speaker and then will wrap up at 2:00 PM.

A New Large-Lease Leader: Finance and Insurance Industry Signed More of the Top 100 US Office Leases in 2022 than Tech Industry
3/06/23
Los Angeles among the top 10 markets for its share of square footage of the top-100 leases

Downtown L.A. Real Estate Showing Steady Growth Starting Off 2023
3/01/23
New report from Downtown Business Center Improvement District highlights improving sectors in a region being transformed by a growing mixed-use market

2022 Sets Record for Million sf+ Industrial Leases
2/28/23
Inland Empire named top market in the U.S. according to CBRE report

San Diego Multifamily Market Closed Out 2022 with Strong 4th Quarter
2/27/23
Northmarq reports increase in asking rents with slight increase in vacancies


Mitch Stokes Joins Avison Young as Principal
2/17/23
SoCal office and retail pro will be based in the firm’s West Los Angeles office

Hear and Network with OC CRE Pros on March 16 at Annual Conference
2/15/23
Sign up now to watch high-powered panels discuss the office, industrial, retail, multifamily and finance markets at this year's Orange County State of the Market Conference at Irvine Company's Venue event facility at its new Spectrum Terrace office complex in Irvine.

Lincoln Property Company Announces New Plan for Growth and Succession
2/09/23
David Binswanger and Clay Duvall elevated to Co-CEOs

Industrial Construction Costs Ease Slightly but Remain Elevated
2/03/23
Per latest research from Cushman & Wakefield, competition for materials in a commodity constrained market, coupled with inflationary pressures, has driven construction costs higher across all real estate sectors.

Inflation, Experiential Real Estate and Alternative Sectors, Friend-Shoring and Metaverse Among 10 Global Trends to Watch in 2023
2/01/23
Avison Young identifies 10 key trends impacting commercial real estate in 2023

Don’t Miss RENTV’s 2023 O.C. State of the Market Conference on March 16!
1/23/23
Annual CRE event to be held at the Irvine Company's Venue event facility at its new Spectrum Terrace office complex in Irvine

OC Office Market Sees Cautious Optimism
1/19/23
JLL Provides Year-End 2022 Update on the Market

Commercial Real Estate Financing Briefs
1/17/23
Recent transactions from iBorrow, JLL Capital Markets and George Smith Partners

Inland Empire East Valley Industrial Market Enjoyed Continued Momentum in Fourth Quarter 2022
1/10/23
Latest report from Lee & Associates points to possible slowdown

Los Angeles Office CRE Market Update – 4th Qtr. 2022
1/05/23
Kidder Mathews provides end of year look at the region



 


 


 


 
 





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