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• San Fernando Valley Apartment Building Sells for $231k/Unit
4/24/23
In a recent multifamily comp out of the San Fernando Valley, a 13-unit property located at 13440 Victory Blvd in Van Nuys sold for $3 mil, or $231k/unit. At the time of closing, five units were vacant and in various stages of...
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• J&L Realty Partners Pays $23 Mil for Hollywood Office Property
4/24/23
J&L Realty Partners purchased a five-story, 39.2k sf office building in the heart of Hollywood for $23 mil ($587/sf). It is located at 1777 Vine St, north of Hollywood Blvd.
The property, which is situated directly across th...
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• Downtown L.A. Multifamily Property Sells for $17.5 Mil
4/21/23
The Mint, an eight-story, 42-unit multifamily property located in the heart of downtown Los Angeles, has sold for $17.5 mil, or $417k/unit. The buyer was a local investor.
Located at 1136 W. 6th St in one of the most desira...
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• ZEALOT Leases Top Floor Space at Hollywood High-Rise
4/20/23
ZEALOT has inked a long-term lease for 13k sf of space at Hollywood Entertainment Plaza located at 7080 Hollywood Blvd in the heart of Hollywood. ZEALOT, a creative marketing agency, will occupy the entire top floor of the 11...
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• Redcar Fund Management Closes Second Fund with $418 Mil in Equity Commitments
4/19/23
Redcar Fund Management has closed on Redcar Fund II (“Fund II”) with $418 mil in equity commitments. Through its successful debut Fund I, which closed in January 2020, Redcar acquired 15 assets which will total 1.4 msf upon c...
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• Two Desirable Covered Land Listings in West Hollywood Hit the Market
4/19/23
Here’s the scoop on two covered land play opportunities in the city of West Hollywood. The listings, both on Fairfax Ave, are being marketed by Andrew Levant of Kennedy Wilson Real Estate Sales & Marketing.
Presently, 1019 N...
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• Historic Building in Downtown Los Angeles Acquired for Conversion into a Boutique Hotel
4/18/23
The Garfield Building, a 12-story, 102.2k sf historic structure in downtown Los Angeles, was acquired by a Bay Area investor in a $19 mil transaction. The deal closed on March 31, ahead of the enactment of Los Angeles’s prope...
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• Res Property in L.A.’s Koreatown Neighborhood Goes for $238k/Unit
4/13/23
Gramercy Townhouse, a 30-unit in L.A.’s Koreatown neighborhood, traded hands in a $7.15 mil ($238.3k/unit) deal. Located at 430 S. Gramercy Place, Gramercy Townhouse is a three-story apartment building with a mix of studio, o...
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• George Urban Advisors, Five Horizons Partners and DRA Advisors Pick Up 851k sf SoCal Industrial Portfolio
4/12/23
George Urban Advisors, in partnership with Five Horizons Partners and DRA Advisors, has acquired a portfolio of seven industrial properties in Orange County and Los Angeles County. The properties encompass 851.1k sf of space ...
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• NewMark Merrill Companies Acquires 84k sf San Fernando Valley Retail Center
4/12/23
NewMark Merrill Companies Inc has acquired Corbin & Parthenia shopping center, an 83.7k sf community retail center located at 19555-19641 Parthenia St in the western San Fernando Valley community of Northridge. This is the ei...
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• Commercial Real Estate Vacancy Rates in L.A. County Continue to Rise
4/11/23
This report provided by NAI Capital Commercial
L.A. County's commercial real estate markets slowed in the first quarter of 2023 with vacancy rates rising and rents dropping – except for multifamily rent which jumped back up ...
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• Capital Improvement Program Well Underway at 597-Unit Marina del Rey Res Community
4/11/23
Equity Residential recently embarked on a $45 mil capital improvement program at Pearl Apartments, a 597-unit multifamily community in Marina del Rey, and has completed the first 87 upgraded residences. The asset is owned by ...
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• Van Nuys Industrial Building Sells for $351/sf
4/10/23
A 48.4k sf, multitenant industrial building in Van Nuys was traded in a recent $17 mil ($351/sf) transaction. The San Fernando Valley asset was sold by Rexford Industrial Realty and acquired by Orion Business Park LLC, a Cali...
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• Warner Center Property Goes for $137/sf in Land Value
4/07/23
CBRE brokered the sale of 6036 Variel Avenue in Woodland Hills, a 1.21-acre multifamily mixed-use development site within Warner Center, for $7,200,000 which equates to $137 per square foot for the land.
CBRE's Laurie Lusti...
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• BKM Capital Partners Spends $25 Mil on 84k sf Biz Park in the Eastern San Fernando Valley
4/06/23
BKM Capital Partners has purchased Valley East Industrial Park an 84.4k sf light industrial park in North Hollywood, for $25.3 mil ($300/sf). Situated on over two acres at 7041 Vineland Ave, the park will be renamed Backlot N...
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• Two Manufacturing Buildings in Chatsworth Acquired for $20 Mil by Cosmetics Firm
4/05/23
Two cosmetic manufacturing sites in the western San Fernando Valley community of Chatsworth traded in a $20 mil transaction. The two free-standing buildings, located at 9530 De Soto Ave and 9533 Irondale Ave, contain a combin...
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• Elat Properties Acquires DTLA Office Tower in $46 Mil Transaction
4/05/23
Elat Properties purchased 801 South Grand, an 11-story, 215.1k sf office tower in downtown Los Angeles, for $46 mil ($214/sf). The building was sold by CIM Group.
801 South Grand was 74% leased at the time of sale to a diver...
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• Advanced Real Estate Acquires Iconic Edison Tower in Downtown Long Beach
4/04/23
Advanced Real Estate has acquired the iconic Edison - a 12-story former office tower in Downtown Long Beach. The price was not immediately disclosed.
The property sits one block from Ocean Blvd at the terminus of the Metro R...
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• Downtown L.A. Office Tower Trades in $111 Mil Transaction
4/03/23
In a significant Downtown Los Angeles office acquisition, Waterbridge Capital purchased Union Bank Plaza, a 40-story, 701.9k sf high-rise located at 445 S. Figueroa St, in a deal worth roughly $111 mil ($158/sf). The Class A ...
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• West L.A. Office Building Finds New Owner in $9.3 Mil Deal
4/03/23
A SoCal-based private investor paid $9.3 mil for a 20.6k sf ($451/sf) office building in the Brentwood/Westwood area on L.A.’s Westside. The property, located at 520 S. Sepulveda Blvd, was built in 1970 and renovated in 2022....
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