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• Anaheim Continues on Activist Development Course
10/31/03
By Steve Bloom
The City of Anaheim, which is getting more and more vigorous in its efforts to have housing built in its downtown area, is getting involved in real estate land use and development in a way that pushes the enve...
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• October 31, 2003 - Vallejo Hears Puget Sound
10/31/03
The Vallejo City Council awarded a $125 mil downtown redevelopment project to Triad Communities Inc based on its proposal to build 810 new apartments and condos over a 10-year period. Most of the housing would be built over g...
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• You Can't Chop Down an Oaktree, but You Can Buy One for $14 Mil
10/30/03
An LA-based group of private investors acquired Norwalk Town Square, a 235.2k sf retail center in Norwalk, as part of a 1031 exchange transaction. The buyer, Norwalk LLC, paid $29.5 mil ($125/sf) for the property and assumed ...
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• Historic Boston Building Sells in Pasadena
10/30/03
Glendale-based Povac Investments has acquired The Boston Building, a 52k sf office building at 35 Raymond Ave in Pasadena, for $4.8 mil ($92/sf). Originally built in 1904 as a department store and later renovated in the 1930s...
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• October 29, 2003 - Picking Up Steam
10/29/03
Activity in the San Francisco investment sales market is enjoying a period of rapid acceleration, according to CB Richard Ellis investment specialist Charles McCabe. He calculates $310 mil of commercial transactions took plac...
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• Hotel del Coronado Set to Sell for Near $385 Mil
10/28/03
A partnership consisting of CNL Hospitality Properties Inc (CNL) and KSL Recreation Corporation (KSL) has entered into an agreement to purchase the legendary 688-room Hotel del Coronado from Lowe Enterprises Investment Manage...
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• Mechanical Difficulties Delay Take Off of El Toro Auction
10/27/03
Timing is a funny thing, as the people trying to auction off the land that was the El Toro Marine Base are rediscovering. Many in the RENTV audience know that the Navy is planning on selling the 3,700 acres just east of Irvin...
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• Rohnert Park Council Members Gamble on New Indian Gaming Project
10/24/03
After community opposition prompted it to back out of earlier plans, the Federated Indians of Graton Rancheria signed a Memorandum of Understanding regarding development of a gaming and entertainment project just west of the ...
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• Taubman Starts Tab With Michigan Lawmakers
10/24/03
Certainly the biggest retail news story of the month, perhaps the year, was the saga that was the Simon/Westfield takeover attempt of Taubman Centers. It was announced earlier this month that Simon Property Group, based in In...
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• Cedars-Sinai Writes Perfect Prescription for JP Morgan
10/23/03
Cedars-Sinai Medical Group, the huge West LA medical organization based around Cedars Sinai Hospital and in a number of adjoining offices between 3rd St and Beverly Blvd, on the west side of San Vicente Blvd, has just inked a...
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• October 22, 2003 - Magma Erupts
10/22/03
One of Silicon Valley's few expanding companies has taken over some of the space given up by a prominent victim of the high-tech downturn. Magma Design Automation Inc, which produces electronic design automation software for ...
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• Some Up, Others Out, at Equity Office Properties
10/22/03
Here's a review of some recent Pro Moves over at Equity Office Properties, the Chicago-based office REIT. We'll start with the local, LA news for the company, which now has a portfolio of 721 buildings comprising 124.4 msf in...
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• Hotel Notes: $11.5 Mil Sale Calls for a Holiday Inn Palmdale
10/21/03
Here's news of a hotel sale from the northern LA County community of Palmdale, as the 148-room Holiday Inn was sold for $11.5 mil, in a deal that works out to around $77.7k/unit and $160/sf. Located at 3860 5th St, the proper...
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• October 20, 2003 - Genesys of an Idea
10/20/03
The biotech industry may not have released many products yet, but one major REIT has confidence in its future, or at least in the future of one biotech company.
CarrAmerica Realty Corp acquired 500 Forbes Blvd, a 2-story off...
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• Desert Passage Reaches New Destination
10/17/03
Desert Passage, the 475k sf enclosed shopping center developed about three years ago by TrizecHahn as part of the Aladdin Casino, is about to be sold. According to reports from various sources, the enclosed complex, which has...
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• October 17, 2003 - Sentre Buys a Center in San Diego's Center City
10/17/03
A partnership of GE Capital Advisors and Sentre Partners has bought the Koll Center San Diego, the colorful Class A high-rise at 501 W. Broadway, in the heart of downtown. Although a price was not disclosed, we had reported ...
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• Office Property Sales Continue their Ascent in Burbank
10/16/03
Here's news of a recent San Fernando Valley office sale, as Younan Properties Inc paid roughly $10 mil for Warnerview, a 60k sf ($167/sf) building at 5959 Topanga Canyon Blvd, at Oxnard St. The building was purchased from Kea...
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• Murphy's Law of RE Economics in Otay Mesa
10/14/03
This article will recap a handful of industrial sales that have occurred in San Diego County over the past month, starting with a major $61.8 mil transaction in September for seven industrial buildings containing 727k sf ($85...
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• Barker Pacific Acquires Controlling Interest in Xerox Centre
10/13/03
Barker Pacific Group is in the news again, as the LA-based firm acquired a general partnership position in Xerox Centre, giving them the controlling interest in the 330k sf office building, located at 101 Continental Blvd in ...
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• Norwalk Office Property Fetches $48 Mil
10/10/03
Brentwood-based Sonnenblick Del Rio Government Acquisition Fund #1 has wrapped up a $48 mil purchase of Imperial Centre, a 450k sf ($107/sf) office complex in Norwalk. Located at 12440 Imperial Hwy, the seven-story building s...
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