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• Office Building in West Covina Gets New Owner in $22 Mil Trade
2/23/23
Atrium on the 10, a 100.7k sf office building in West Covina was purchased for $22.2 mil ($220/sf) by a Covina, CA-based nonprofit owner/user. The property, located at 2934 E Garvey Avenue South, sits alongside I-10, offering...
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• WJM Enterprises Starts Multi-Million Renovation of Phoenix Office Campus
2/22/23
WJM Enterprises LLC is underway on the multi-million-dollar renovation of Lake Biltmore Corporate Center, a two-building lakefront office campus located minutes from the iconic, soon-to-be demolished and redeveloped Metrocent...
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• Unique 1,100-Acre Colorado Development Opportunity Put on the Market
2/21/23
Here’s news of a unique Colorado mixed-use development opportunity that’s just hit the market. The listing is for The Farm on the Colorado, consisting of approximately 1,123 acres in Garfield County. The property features nea...
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• Wu Properties Buys 180k sf Northwest Crossing Centre in Houston
2/21/23
Houston-based Wu Properties purchased Northwest Crossing Centre, a 180k sf shopping center shadow-anchored by Target in Houston, TX. Tenants included in the sale were Burlington, Dollar Tree, Marshalls, Planet Fitness, Hibbet...
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• 29th Street Capital Spends $41.6 Mil on Res Community in Scottsdale, AZ
2/16/23
Chicago-based 29th Street Capital has acquired Dwell Apartment Homes, a 193-unit res community in Scottsdale, AZ, for $41.6 mil ($215.5k/unit). The property, located at 1923 N. 70th St, was sold by Avanti Residential, who pur...
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• Brookfield Entity Defaults on $784 Mil of Loans on Two DTLA Office Towers
2/16/23
Brookfield DTLA Fund Office Trust Investor, one of the largest office landlords in downtown Los Angeles, has defaulted on $784 mil of loans on two DTLA office towers, according to multiple media reports. The publicly traded e...
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• San Fernando Valley Retail Center Trades in $58 Mil Deal
2/15/23
Gerrity acquired Victory Plaza, a 136.6k sf, grocery-anchored retail center in the eastern San Fernando Valley community of North Hollywood, for $57.75 mil ($423/sf). The asset was sold by Kennedy Wilson.
Located at 13007-13...
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• Carlsbad Industrial Facility Fetches $247/sf
2/14/23
Wimatex Inc purchased an 85.2k sf industrial property in Carlsbad for $21.05 mil, or $247/sf. Located at 2271 Cosmos Court, the freestanding building was 100% leased at the time of sale to a global medical device and technolo...
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• Mesa West Capital Has Raised $1.37 Bil for Latest Fund
2/14/23
Mesa West Capital has raised $1.37 bil for Mesa West Real Estate Income Fund V, L.P. (“Fund V” or the “Fund”), exceeding Mesa West’s original $1.0 bil fundraising target for the Fund. Mesa West is the private U.S. real estate...
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• Greenlaw Partners Pays $58 Mil for Two Anaheim Industrial Facilities
2/13/23
Greenlaw Partners acquired a portfolio of two last-mile warehouse and distribution facilities totaling 198.8k sf in Anaheim for $58 mil ($292/sf). Completed in 1977 and 1978, the adjacent properties are located at 1701-1771 S...
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• Nelson Rising Passes at 81
2/10/23
Nelson Rising, a Los Angeles-based real estate developer and political and civic leader who helped shape the built and political environment of leading California cities, died yesterday, February 9, 2023 at his home in Pasade...
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• BentallGreenOak Closes $36 Mil R&D/Life Science Buy in Carlsbad
2/10/23
BentallGreenOak acquired a 119.6k sf, R&D/life science flex building in Carlsbad for $35.75 mil, or $299/sf. Located at 2210 Faraday Ave within the Faraday Research Center, the freestanding building was 100% leased to three ...
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• Commercial Real Estate Financing Briefs
2/10/23
JLL CAPITAL MARKETS -- Matt Stewart and Analyst Chris Jaffe with JLL Capital Markets have arranged $69.1 mil in post-close acquisition financing for Walnut Business Park, a 33-building, 334.8k sf light industrial portfolio ow...
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• Taipei Economic and Cultural Office Spends $52.8 Mil on San Francisco Office Building
2/09/23
Taipei Economic and Cultural Office (TECO) has acquired a brand new, 56k sf Class A office building in San Francisco’s South of Market (SoMa) neighborhood for $52.8 mil ($943/sf). The seven-story building, designed by Stanton...
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• Alliant Strategic Development Starts Work on Four Res Projects in the San Fernando Valley
2/09/23
Alliant Strategic Development (ASD) has broken ground on four transit-oriented multifamily housing communities that will add more than 700 attainable and affordable rental units to Los Angeles’ San Fernando Valley.
The four...
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• Elevation Land Company and a Crow Holdings Capital-Advised Fund to Develop 1.8 msf Biz Park in Otay Mesa
2/08/23
A joint venture between Elevation Land Company and a real estate fund advised by Crow Holdings Capital will be constructing a brand new, 1.8 msf industrial / warehouse / distribution development in San Diego’s Otay Mesa area....
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• Brookfield Asset Management Acquires New 1.8 msf Inland Empire Distribution Development in $329 Mil Deal
2/07/23
Brookfield Asset Management acquired a newly built, 1.8 msf, two-building distribution center in Riverside County from Shopoff Realty Investments and Artemis Real Estate Partners in a deal reportedly worth $329 mil ($183/sf)....
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• Ventura Shopping Center Traded in $66 Mil Transaction’
2/06/23
Poinsettia Plaza, a 157.3k sf shopping center in Ventura, traded for $66 mil, or $420/sf. The property is located at 4220-4360 E. Main St and 4687-4731 Telephone Rd, just south of the confluence of the 101 Fwy and Hwy 126.
P...
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• Sony Pictures Entertainment Leases 225k sf of Space in L.A.’s Miracle Mile District
2/06/23
Sony Pictures Entertainment recently inked a long-term, multi-floor lease for 225.2k sf of space at Wilshire Courtyard, a two-building, Class A office campus situated in the heart of L.A.’s Miracle Mile area. The popular, ce...
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• Industrial Property in the San Gabriel Valley Sells for $273/sf
2/03/23
JAR Commercial Investments LLC purchased Azusa Center, a two-building, 75.1k sf industrial property in Azusa, from SENTRE for $20.5 mil ($273/sf). Azusa Center is located on a 3.67-acre lot at 301 and 411 N. Aerojet Ave, with...
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