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• Federal Realty Investment Trust Collects $103 Mil from Sale of Properties Along Santa Monica’s Third Street Promenade
6/11/24
Federal Realty Investment Trust has sold its remaining assets along Santa Monica’s Third Street Promenade -- eight buildings containing 185k sf of space -- for $103 mil ($557/sf). The buyer was not disclosed. Including a prev...
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• Upscale Grocer Erewhon Acquires 24k sf Glendale Building for New Location
6/07/24
Erewhon, the upscale organic market and café with ten locations across Southern California, has purchased the 24k sf, former Virgil’s Hardware Home Center located at 520 N. Glendale Ave in Glendale.
Erewhon will utilize 18k...
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• SoCal Multi-Tenant Industrial Facility Goes for $252/sf
6/05/24
A local private investor paid $7.6 mil for Paramount Business Center, a 30.2k sf ($252/sf) multi-tenant center in the L.A. area city of Paramount.
The property has 11 units ranging in size from 2,025 to 3,794 sq. ft. Each un...
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• Affordable Housing Project in L.A.’s Koreatown Neighborhood Set to Go with $24 Mil in Construction Money
6/04/24
Kingsley Apartments, a planned 136-unit, 100% affordable property in Los Angeles’ popular Koreatown submarket, is closer to becoming a reality after landing $24.4 mil in construction money.
The project is situated just three...
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• Hollywood Office Building Sells in $25 Mil Deal
6/03/24
A six-story, 86.6k sf office building in Hollywood has traded hands in a $25.5 mil ($294/sf) deal. The Class A property, located at 7083 Hollywood Blvd, at the intersection with La Brea Ave, is viewed as a value-add opportuni...
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• AMCAL Housing Nabs $101 Mil Refi on 335-Unit Res Community in Woodland Hills
6/03/24
AMCAL Housing, Gortikov Capital has obtained a $101 mil refi loan on The Clarendon, a 335-unit, Class A multifamily property in the western San Fernando Valley community of Woodland Hills.
Developed in 2020, The Clarendon of...
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• Commercial Real Estate Financing Briefs
5/31/24
CBRE CAPITAL MARKETS - Bruce Francis, Bob Ybarra, Shaun Moothart, Doug Birrell, Nick Santangelo and Jim Korinek with CBRE's Capital Markets Debt and Structured Finance team secured a $44 mil refi loan on Queen Creek Commerce...
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• Kalaveras Takes 7k sf Retail Space in Burbank
5/31/24
Fast-casual restaurant Kalaveras signed an 11-year lease for 6.8k sf of retail space in Burbank. The restaurant, which offers customers a menu that reflects a traditional Mexican and Latin American cuisine with a modern Kalav...
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• Rexford Industrial Spends $143 Mil on Two SoCal Buys in May
5/30/24
Rexford Industrial Realty closed on two industrial property purchases in deals with a combined price of $143 mil during the month of May. The SoCal-based firm also completed the disposition of three properties for an aggregat...
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• PATH Ventures Finishes Supportive Housing Project in the City of Carson
5/29/24
PATH Ventures, a nonprofit affordable housing developer and service provider, has completed work on West Carson Villas, a $42.5 mil, 111-unit supportive housing project in the L.A. area city of Carson. The development was bui...
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• La Salle Investment Management Sells Two Playa Vista Office Assets for $75 Mil
5/29/24
La Salle Investment Management collected $75 mil from the sale of two office properties in Playa Vista. The assets were acquired by two different buyers in separate deals.
One of the properties, The Annex, a 131.9k sf low-ri...
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• Monterey Park Res Development Secures $15.5 Mil in C-PACE Financing
5/24/24
Whitmore Villa, a $52 mil multi-family housing development in the San Gabriel Valley city of Monterey Park, has received $15.5 mil in C-PACE financing. The project is being developed by Chateau Group on behalf of project spon...
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• June 27 is RENTV's Greater Los Angeles State of the Market Conference
5/22/24
Hear high-powered panels of top local executives and dealmakers discussing the Office, Retail, Industrial, Multifamily and Finance markets throughout the region.
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• Captiva Partners Buys Industrial Flex Property in North Hollywood
5/20/24
A multi-tenant, three-building 65.1k sf flex facility located in North Hollywood traded hands. The buyer was Captiva Partners.
The industrial asset sits on 3.27 acres at 8210 to 8222 Lankershim Blvd, just southwest of I-5 at...
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• Santa Monica Office Project Completed
5/20/24
Work has finished on 1650 Euclid Street, a three-story, 65k sf office complex in Santa Monica. The mixed-use project was designed by House & Robertson Architects for owners Redcar Properties. The general contractor was C.W. D...
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• Two Deals Bring Carson Industrial Facility to 100% Leased
5/17/24
There’s been two leases to report at the Watson Industrial Center in the City of Carson, bringing the 164k sf project to 100% occupancy. The development is owned by Summa Properties/Watsoncenter LLC.
In one of the transacti...
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• SoCal Single-Tenant Property Occupied by Popeye’s Goes for Nearly $1,000/sf
5/16/24
A private investor paid $3.525 mil for a 2.6k sf retail property in the LA area city of Bell. The deal worked out to a price of $985 per square foot at a 4.75% cap rate.
The property, located at 5133 Florence Ave, boasts a s...
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• LA Area Industrial Facility Sells for Over $10 Mil
5/15/24
A 38.6k sf, industrial warehouse in Gardena traded for $10.225 mil, or $265/sf. The asset was sold by Rexford Industrial Realty.
Located at 15401 S Figueroa St, the standalone warehouse sits on 70.4k sf of prime land in the...
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• DTLA’s Gas Company Tower Listed for Sale
5/15/24
The Gas Company Tower, a 52-story, LEED-Gold-certified office tower totalling 1.373 msf of office space in downtown Los Angeles has been put on the market. The property was formally owned by an affiliate of Brookfield Asset M...
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• Opportunities Arise Amidst Challenges in L.A. County’s Retail Market
5/10/24
This report was provided by real estate services firm NAI Capital Commercial
MARKET OVERVIEW
In Q1 2024, L.A. County's retail market continued its slow path to recovery four years post-pandemic. Vacancy increased at the ye...
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