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• Lew Horne to be Inducted into NAIOP SoCal Hall of Fame
2/24/23
Lewis “Lew” 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 SoCal’s Hall of Fame as part of the organization’s...
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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 firm’s 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.’s 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 Angeles’ 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 Angeles’ 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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• Dunbar Real Estate Holding Picks Up Two Gardena Industrial Buildings in $22.7 Mil Deal
2/06/23
Dunbar Real Estate Holding, LLC, out of El Segundo, purchased two freestanding industrial buildings totaling 92.6k sf of space in Gardena, in an off-market transaction for $22.7 mil ($245/sf). The buildings are located at lo...
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• Sony Pictures Entertainment Leases 225k sf of Space in L.A.’s Miracle Mile District
2/06/23
Sony Pictures Entertainment recently inked a long-term, multi-floor lease for 225.2k sf of space at Wilshire Courtyard, a two-building, Class A office campus situated in the heart of L.A.’s Miracle Mile area. The popular, ce...
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• Los Angeles Student Housing Property Refinanced for $16 Mil after Recent Improvements
2/06/23
Victory on Portland, a 55 unit/139-bed student housing property in Los Angeles, has been refinanced for $16.1 mil by its owner, Champion Real Estate Company. The property is located at 2353 Portland St, east of Hoover St and ...
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• Industrial Property in the San Gabriel Valley Sells for $273/sf
2/03/23
JAR Commercial Investments LLC purchased Azusa Center, a two-building, 75.1k sf industrial property in Azusa, from SENTRE for $20.5 mil ($273/sf). Azusa Center is located on a 3.67-acre lot at 301 and 411 N. Aerojet Ave, with...
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• CalSTA Awards Metro $600 Mil to Support Critical East San Fernando Valley Light Rail Project
2/03/23
The California State Transportation Agency (CalSTA) has announced that Metro will receive the full request of $600 mil in state grant funding for a key expansion of the Metro system, the East San Fernando Valley Light Rail Tr...
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• Marcus & Millichap Opens Office in Century City
2/03/23
Marcus & Millichap has opened a new office on Los Angeles’ westside, in Century City. The new office, which integrates the firm’s former Downtown and West Los Angeles offices into one coordinated flagship location, has approx...
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