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Financing Notes 3/19/04 The Crescent, a $48 mil mixed-use project currently under construction in Beverly Hills' “Golden Triangle” area has received mezzanine financing of $6.75 mil, placed by Sonnenblick-Eichner Company, which is co-termed with a c...
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$7.3 Mil Sounds Good for Former Motorola Facility in Scripps Ranch 3/18/04 The Carroll Canyon Office Park, the 31.7k sf former Motorola facility at 9880 Carroll Canyon Rd was sold for $7.3 mil ($230/sf). The property, which sits on 5.38 acres within the Scripps Ranch Business Park and includes some...
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Arden Collects $52 Mil from Sale of Univision HQ Building 3/18/04 Giant SoCal office landlord Arden Realty Inc (NYSE: ARI) has just closed a major sale, as Univision Television Group purchased its Headquarters facility, one of the recently developed office properties in Arden's Howard Hughe...
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Murphy Development Adds another Tenant at Siempre Viva 3/17/04 Murphy Development has inked another big tenant deal at their Siempre Viva Business Park in Otay Mesa, as US Joiner LLC, a wholly owned subsidiary of Gatewick Enterprises, Inc, signed an eight-year lease for 66.5k sf of wareh...
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CAA Agrees to 180k sf at Planned 2000 Avenue of the Stars Project 3/16/04 Here's an update on a major Westside lease that's been in the works for a while now, as Creative Artists Agency (CAA) has agreed to a deal at the yet-to-be-built 2000 Avenue of the Stars development in Century City. The compa...
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It Looks Like a Goodyear for Western States Technologies 3/15/04 In this report, we'll review recent news of some closed sales of office buildings and flex/tech office buildings. We'll start in Fullerton, where Newport Beach-based commercial real estate investment firm WLA Investments rece...
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ARA Participates in $77 Mil Sebou Play in Irvine 3/12/04 Glendale-based American Realty Advisors purchased a pair of Irvine Class “A” office buildings, totaling 330.3k sf, for about $77 mil ($233/sf). The two-building complex is located at 18201 and 18401 Von Karman Ave, between Mi...
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West LA CB Group Walks to Madison 3/11/04 A formidable new gunslinger has come to town here in LA, as five of Southern California's leading commercial real estate brokers have united to form a bigger and better Madison Partners, a full-service “boutique” commercial r...
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Valencia Sale/Leaseback is a Specialty Transaction 3/10/04 Specialty Laboratories, the Santa Monica-based biotech firm, has completed a sale/leaseback transaction for its yet-to-be-completed 200k sf HQ/lab facility in the Valencia Corporate Center. Per a recent piece in the LABJ, NY-...
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San Diego Investors Reach Crossroads 3/09/04 Here's some major office and industrial sales news items down San Diego way. Starting in Rancho Bernardo, four free-standing buildings, with a total of 125.5k sf of industrial space, in The Crossroads at 4S Ranch have been so...
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Newport National Acquires Mission Valley Site for New Office Building 3/08/04 Newport National Corporation (NNC), a Carlsbad-based real estate development company, has entered San Diego's Mission Valley market with the purchase of a 4.5-acre parcel that they plan to develop into a state-of-the-art Clas...
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Alliance Goes on a Mission in Pomona 3/08/04 Gateway Business Park, a 925k sf industrial complex in Pomona, traded hands for $31 mil ($33.50/sf). The buyer, 1675 Mission Associates LLC, an entity sponsored by Alliance Commercial Partners, plans to rename the property, l...
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Financing Notes 3/05/04 Here's news of a more unusual SoCal financing deal, as GSP/Rifkind Capital Advisors has secured refinancing for Larry Flynt's Hustler Casino in Bell Gardens, the one you see advertised on billboards scattered along some of th...
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Essex Closes $124 Mil Purchase of Playa Vista Apartment Complex 3/04/04 Essex Property Trust Inc (NYSE:ESS), the Palo Alto-based apartment REIT, has closed on a major investment in West LA's massive Playa Vista development, having paid $124.5 mil for the Fountain Park Apartments. The 705-unit ($1...
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AMB Acquires El Segundo Facility 3/04/04 Here's news of a notable sale in El Segundo, as Sandstone Properties paid $12.75 mil for a 55k sf ($231/sf) office building at 221 Park Place. The free-standing, single-story facility is fully occupied by Northrop, which has ...
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Ratkovitch Dials 1-800-Wilshire 3/03/04 The Ratkovich Company, a development firm well-known for its renovation of a pair of historic office properties in downtown Los Angeles, just purchased another building in the city's central core, having paid $30 mil for 800 ...
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53-Acre Carlsbad Site Snapped Up by HG Fenton and Newport National 3/02/04 The largest remaining piece of employment land located west of El Camino Real in Carlsbad was just acquired, as a venture made up of H.G. Fenton Company and Newport National Corp paid $7.5 mil for the 53-acre parcel. Located ...
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Public City 3/01/04 Since February is the month for all the previous year's earnings reports, let's review how some of the major players in the state did. It's a little lengthy, with reports on six companies.
ARDEN REALTY, INC. (NYSE:ARI): We'l...
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CIM Group Stars in Blockbuster $201 Mil Buy of Hollywood & Highland 3/01/04 Shutting the door on Trizec Properties' less than profitable history with the Hollywood & Highland retail/entertainment center, the 640k sf development that Trizec built two years ago was acquired by a CIM Group entity, calle...
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The Fund Comes to an End at Shorenstein 2/27/04 Shorenstein Company, the big San Francisco-based office property owner, has announced the closing of Shorenstein Realty Investors Seven LP, the company's latest office real estate investment fund. The new fund was first opene...
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