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Bascom Adds to Its Portfolio with Buys in Both Ends of the State 7/08/03 Irvine-based Bascom Group has recently closed a couple of newsworthy apartment buys, one near their OC HQ, in Tustin, and the other up in the mid-state city of Fresno. We'll start with the Orange County deal – the bigger of t...
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Westcore Closes another Big Portfolio Sale 7/07/03 There have been a couple of major investment sales from the last couple of weeks to let you know about, one in San Diego and the other in Orange County. In the San Diego deal, Westcore closed out their second big portfolio sa...
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Kearny Mesa Office Building Sells for $29 Mil 7/03/03 It's time to catch up on some sales activity down San Diego way, starting in Kearny Mesa, where we've got a $28.8 mil office buy to report. The buyer, a partnership that included Pacifica Real Estate Group LLC, purchased Copl...
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Calabasas Investment Firm Sees Big Upside in LA's Landmark Getty Oil Building 7/02/03 It looks like one of Los Angeles' landmark buildings, the 22-story tower office building that once housed the Getty Oil Company but has sat nearly vacant for over 10 years, is about to get a new lease on life. Calabasas-based...
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July 2, 2003 - Simon Says 'Buy' to Stanford Shopping Center 7/02/03 Stanford University is no longer floating the idea of selling its top-grossing Stanford Shopping Center. It has already sold it. Ending several months of speculation, Simon Property Group, the nation's largest mall owner, has...
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MEPT Wraps Up $115 Mil Buy of Westcore Industrial Portfolio 7/01/03 Multi-Employer Property Trust (MEPT), a $3.3 bil commingled open-end real estate equity fund, acquired a 17-property industrial portfolio from Westcore Distribution Centers, Westcore Gale and Westcore Don Julian, all subsidia...
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June 30, 2003 - Giant Leap for Frogkind 6/30/03 LeapFrog Enterprises Inc has bounded into the big time with an expansion that takes the children's toy maker over the 100k sf mark. The 650-person company, which makes interactive educational toys, added 32k sf to its existin...
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BentleyForbes is Looking for a Few Good Properties 6/27/03 LA-based BentleyForbes is embarking on a new investment program, targeted to hit $500 mil in commercial real estate acquisitions nationally over the next 12 months. In accordance with their new strategy, the firm has recently...
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June 27, 2003 - Logistics Firm Bags Richmond Facility 6/27/03 Orion Logistics, a bonded, third-party logistics service provider, closed on a 5-year lease/purchase option for a 25-acre, 221.5k sf complex at 601 Parr Blvd in Richmond. The seller was Philadelphia-based Crown Cork & Seal, w...
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Hartung at Hambrecht Points to REIT Price Deficiencies 6/26/03 We just started getting the Monthly REIT Market Review from WR Hambrecht & Co, which is written by Chris Hartung, the well-known analyst who has been covering real estate and REITs for some time now. The most recent 10-pager ...
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June 26, 2003 - Sacramento Market Outperforming Rest of Northern California 6/26/03 Though investment activity in the Sacramento office market remains strong and sales prices are rising, according to a recent report from Marcus & Millichap, activity through the end of the year will be tempered by higher vaca...
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Craig Realty to Pay $53 Mil for Citadel Outlets and Office Park 6/25/03 Newport Beach-based Craig Realty Group (CRG) has agreed to purchase the Citadel Outlets and Office Park in the City of Commerce for $53 mil, from the city's redevelopment agency. Known throughout Southern California for its h...
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Wolf's New Den to Offer Housing Geared to Small Users in Ontario Airport Area 6/24/03 Wolf & Associates, a Los Angeles-based developer, has begun work on Belmont Business Park, a 7.2-acre development strategically located at an entrance to Ontario International Airport, at the southwest corner of Grove and Bel...
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Teachers Dangles $65 Mil Prize in Glendale 6/23/03 It's time to update you on some industry news from around the northeastern parts of the San Fernando Valley. For the purposes of this report, we'll include the actual Valley community of Pacoima, while also mentioning news fr...
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Vivendi Collects $190 Mil from Sale of Universal City Skyscraper 6/20/03 In one of the largest SoCal office buys in quite some time, two national real estate owners, Boston-based Beacon Capital Partners and CarrAmerica Realty Corporation (NYSE: CRE), teamed up to purchase 10 Universal City Plaza, ...
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Cruzan/Monroe is Cruisin' into another San Diego Acquisition 6/19/03 San Diego-based Cruzan/Monroe has acquired Sorrento Pines, a four-building, 115k sf business park at 4108-4122 Sorrento Valley Blvd, east of the confluence of the 5 and 805 freeways in Sorrento Valley. Cruzan/Monroe, through ...
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PS Business Parks Completes some Major Business in Santa Ana 6/19/03 PS Business Parks Inc, the American Stock Exchange traded REIT (Amex: PSB) recently wrapped up another major transaction, having paid about $46 mil for the Orange County Business Center, a 437k sf ($105/sf) multi-building com...
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LA Stories: Downtown Multifamily Activity Increases 6/18/03 The past month or so has been absolutely great if you are a proponent of downtown LA becoming Mecca for that cool hip urban living thing, which we are. Although definitely for people into a lifestyle different from us married...
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June 18, 2003 - Foundry Deal Forges High Price 6/18/03 Cottonwood Partners, backed by the Utah State Retirement Fund, reportedly has purchased Foundry Square IV, a 232k sf office building at 500 Howard St in San Francisco. According to the San Francisco Business Times, the buyer,...
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Premier Apartment Trio Selling for Premier Price of $75 Mil 6/17/03 We've got news of a big apartment portfolio listing that Marcus & Millichap has just brought to market. The three-building group of properties is called The Premier Collection and it contains 248 units in total. The seller is...
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