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November 29, 2023
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LOS ANGELES COUNTY NEWS
Archive
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• A New Large-Lease Leader: Finance and Insurance Industry Signed More of the Top 100 US Office Leases in 2022 than Tech Industry
3/06/23
This report provided by CBRE The finance and insurance industry supplanted the tech industry last year for the largest share of the top 100 office leases in the U.S., according to a new report from CBRE. Finance and insuranc...
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• Palmdale Retail Asset Purchased for $458/sf
3/03/23
An 11.8k sf, multi-tenant retail property in Palmdale sold for $5.4 mil ($458/sf). The property, situated on .87 acres at 39178 10th Street W, is 100% occupied by six tenants including Jenny Craig and Verizon. The property ...
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• Tishman Speyer Starts Work on Santa Monica Res Projects
3/02/23
Tishman Speyer has begun construction on the first phase of the Santa Monica Collection, a portfolio of eight development sites across nearly 3.1 acres in Downtown Santa Monica. The first phase of development encompasses four...
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• Thinkwell Relocates Well in Burbank
3/02/23
Thinkwell has signed a 5.5-year lease for 14k sf of flex/office/production space in Burbank. Thinkwell will occupy the majority of Empire Studios, a recently renovated, 17k sf building located at 2507 Empire Ave, north of Vic...
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• Downtown L.A. Real Estate Showing Steady Growth Starting Off 2023
3/01/23
This report provided by Downtown Center Business Improvement District While it faced significant challenges like most city centers across the country, Downtown LA (DTLA) weathered a turbulent 2022 relatively well and is show...
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• Covina Industrial Building Sells for $7.25 Mil
2/27/23
A fully vacant, 31.7k sf industrial building in Covina was purchased by an unnamed owner/user for $7.25 mil, or $229/sf. The property is located at 1165 E Edna Place. The property was sold by Los Angeles-based Dunleer, who a...
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• Lew Horne to be Inducted into NAIOP SoCal Hall of Fame
2/24/23
Lewis ďLewĒ C. Horne, a well-respected leader in the commercial real estate industry and greater Los Angeles and Orange County business community, will be inducted into NAIOP SoCalís Hall of Fame as part of the organizationís...
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• Ian Schrager and Ed Scheetz Acquire Former Standard Hotel in West Hollywood for Rebranding into a PUBLIC Hotel property
2/24/23
Ian Schrager and Ed Scheetz recently purchased the 139-key hotel property formerly known as the Standard Hotel in West Hollywood. The hotel property is located at 8300 Sunset Blvd, midway between La Cienega and Crescent Heigh...
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• Office Building in West Covina Gets New Owner in $22 Mil Trade
2/23/23
Atrium on the 10, a 100.7k sf office building in West Covina was purchased for $22.2 mil ($220/sf) by a Covina, CA-based nonprofit owner/user. The property, located at 2934 E Garvey Avenue South, sits alongside I-10, offering...
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• Palmdale Office Building Trades for $369/sf
2/23/23
A 58.1k sf, government-leased office building in Palmdale was acquired by an institutional real estate advisor in a recent $21.45 mil ($369/sf) transaction. The property was sold by San Francisco-based Catalyst Real Estate. ...
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• Mitch Stokes Joins Avison Young as Principal
2/17/23
Mitch Stokes has joined Avison Young as Principal, based in the firmís West Los Angeles office. Stokes assists landlords and tenants in the lease-up and sale of office and retail properties throughout Southern California. O...
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• Cityview Underway of 243-Unit Workforce Housing Project in L.A.ís Historic Filipinotown District
2/16/23
Cityview is looking at a fourth quarter 2023 completion for Belle on Bev, a 243-unit workforce housing project in Los Angelesí Historic Filipinotown (HiFi) District. The mixed-use, LEED Silver project, located at 1800 Beverly...
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• Brookfield Entity Defaults on $784 Mil of Loans on Two DTLA Office Towers
2/16/23
Brookfield DTLA Fund Office Trust Investor, one of the largest office landlords in downtown Los Angeles, has defaulted on $784 mil of loans on two DTLA office towers, according to multiple media reports. The publicly traded e...
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• San Fernando Valley Retail Center Trades in $58 Mil Deal
2/15/23
Gerrity acquired Victory Plaza, a 136.6k sf, grocery-anchored retail center in the eastern San Fernando Valley community of North Hollywood, for $57.75 mil ($423/sf). The asset was sold by Kennedy Wilson. Located at 13007-13...
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• Redevelopment Site in South Los Angeles Trades for Just Over $3 Mil
2/14/23
A 24.7k sf parcel of land located in South Los Angeles sold for $3.15 mil. The redevelopment opportunity is located at 4420 S Broadway, just south of Vernon Ave and just east of the 110 Fwy. The lot has a zoning of LAC2-2D-C...
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• Owner/User Spends $5.5 Mil on Industrial Building in Lawndale
2/13/23
Rusher Air Conditioning paid $5.52 mil for a 16.7k sf ($331/sf) industrial building in Lawndale. The property is located at 4435 W. 153rd St, north of Manhattan Beach Blvd on the east side of the 405 Fwy. Constructed in 1967...
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• Private Investor Buys 1.25-Acre Retail Property in Long Beach
2/10/23
In Long Beach, a private investor acquired a 1.25-acre retail property NNN fully leased to Dollar Tree and Family Dollar Inc. The property, located at 5117 Atlantic Ave, was sold by Ramser Development Company, who purchased t...
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• Alliant Strategic Development Starts Work on Four Res Projects in the San Fernando Valley
2/09/23
Alliant Strategic Development (ASD) has broken ground on four transit-oriented multifamily housing communities that will add more than 700 attainable and affordable rental units to Los Angelesí San Fernando Valley. The four...
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• Two L.A. Area Multifamily Refinancings Total $14.7 Mil
2/07/23
Two Los Angeles multifamily properties totaling 147 units were refinanced in separate deals with a combined loan value of $14.7 mil, on behalf of a single investor. The financings, both for TIC borrower structures, were arran...
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• Long Beach Retail Property Sells for $21 Mil
2/06/23
El Dorado Shopping Center, a 74.5k sf shopping center anchored by Grocery Outlet and Dollar Tree in Long Beach, traded hands in a $21.25 mil ($285/sf) transaction. The property was sold by DPI Retail of El Segundo. El Dorado...
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