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June 17, 2024
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LOS ANGELES COUNTY NEWS
Archive
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• Transwestern Investment Group Acquires 4.6-Acre Development Site in the Palmdale/Lancaster Area
8/15/22
Transwestern Investment Group (TIG) has acquired 4.6 acres in the Palmdale/Lancaster submarket of North Los Angeles, and is partnering with Transwestern Development Company (TDC®) to build a 99.8k sf industrial property on th...
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• Langdon Park Capital Spends $48.6 Mil on San Gabriel Valley Multifamily Community
8/15/22
Atrium at West Covina, a 138-unit multifamily community in the central San Gabriel Valley, was purchased by Langdon Park Capital in a $48.6 mil ($352k/unit) transaction. This buy represents Langdon Park’s third Los Angeles ac...
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• Gigabyte Technology Acquires Industrial Property in the City of Industry
8/11/22
Gigabyte Technology purchased a 55.9k sf, Class A industrial asset in the City of Industry. The freestanding industrial building is situated on a 2.57-acre site at 1020 Wallace Way. The facility features 30-foot clear height...
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• Champion Real Estate Company Pays $16.7 Mil for Two Former USC Fraternity Houses
8/08/22
Champion Real Estate Company has acquired two former University of Southern California (USC) fraternity houses located at 624 W 28th St and 2715 Portland St in Los Angeles for $16.7 mil. Victory on 28th LLC, a subsidiary o...
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• Art Deco Long Beach Apartment Property Sells for $3.8 Mil
8/08/22
A 12-unit apartment property located at 601 Linden Ave in the East Village Arts District neighborhood of downtown Long Beach, CA. sold for $3.825 mil, or $319k/unit. Built in 1929 in Art Deco design, 601 Linden features brig...
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• Glendora Multifamily Trade Works Out to Over $300k/Unit
8/04/22
A 20-unit multifamily property in Glendora sold for $6.125 mil in a deal that works out to about $306k/unit. The transaction closed at a cap rate of 4.15%. Located at 710 Claraday St, the two-story, garden style walkup build...
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• Redcar Properties Buys 24k sf Santa Monica Creative Office Property
8/03/22
Redcar Properties has purchased the Meridian Building, a 24.1k sf, creative office building in Santa Monica, for $17.9 mil ($743/sf). Located at 1448 15th St, the three-story building was originally constructed in 1981. The...
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• Royal Stone Properties Spends $11 Mil on Adjacent West Los Angeles Parcels for Expansion
8/02/22
The owners of Royal Stone Properties in Los Angeles acquired two neighboring, contiguous parcels totaling 24.4k sf located at 2301 S. Sepulveda Blvd and 2318 S. Pontius Ave. The properties, which include a 12.8k sf building, ...
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• Rexford Industrial Realty Spends $91.5 Mil on City of Commerce Industrial Park
8/02/22
Rexford Industrial Realty acquired two Class A industrial buildings totaling 182.8k sf in the City of Commerce for $91.5 mil ($500/sf) in an off-market transaction. The buildings are located at 6027 and 6000-6052 Bandini Blvd...
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• Manhattan West Real Estate and Local Development Planning to Build Two Multifamily Projects in L.A.’s Echo Park
7/29/22
Manhattan West Real Estate and its joint venture partner, Local Development, are currently pursuing development entitlements with the City of Los Angeles via its Transit Oriented Communities Affordable Housing Incentive Progr...
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• Phenix Salon Suites Building in Redondo Beach Sells for $666/sf
7/26/22
A Manhattan Beach-based private investor paid $6.325 mil for a single-tenant net-leased investment occupied by Phenix Salon Suites in Redondo Beach. The 9.5k sf ($666/sf) property is located within King Harbor Plaza, a Smart ...
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• Rexford Industrial Realty Completes $660 Mil of SoCal Industrial Buys
7/26/22
Rexford Industrial Realty closed on the acquisition of seven industrial properties for an aggregate purchase price of $660.9 mil. The purchases, made in June and July of this year, were funded using a combination of cash on h...
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• Gunderson Dettmer Leases 25k sf Building in DTLA’s Arts District
7/25/22
Gunderson Dettmer, an international law firm with an exclusive focus on the innovation economy, inked a lease for an entire 24.6k sf, two-story building at 635 Mateo in the Arts District of downtown Los Angeles. The prope...
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• Planet Fitness Buys 18k sf Facility It had Been Leasing in Palmdale
7/21/22
An 18k sf fitness and sports facility leased to Planet Fitness in Palmdale was purchased for $5.5 mil ($305/sf) by the tenant. It was sold by a private investor based in New York City. Built in 2017, the property is situated...
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• Creative Property in Downtown Los Angeles Lands $150 Mil Refi Loan
7/21/22
Greenbridge Finance and Deutsche Bank have co-originated $150 mil to refinance The Reef, an 800k sf creative campus environment in downtown Los Angeles. Located at 1933 South Broadway near the 10 and 110 freeways and within...
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• OUTFRONT Media Leases 34k sf Hollywood Building
7/20/22
OUTFRONT Media, one of the largest out-of-home media companies in the U.S., has signed a 34k sf lease for the entire building that Urban Outfitters and Umami Burger recently vacated at 1520 N. Cahuenga Blvd in Hollywood. OU...
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• Novo Capital Partners Team Joins CBRE
7/19/22
Gianni Novo and the Novo Capital Partners team have joined CBRE Capital Markets’ Debt & Structured Finance team in Los Angeles. The team is based in CBRE’s West L.A. office. The team specializes in commercial real estate lo...
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• Apartment Property in Long Beach Sells for $323k/Unit
7/19/22
An 11-unit apartment property in the Alamitos Beach submarket of Long Beach sold for $3.55 mil ($323k/unit). The property is located at 366 Walnut Ave, just one block from Fourth Street/Retro Row. Built in 1923, the bungalow...
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• L.A. Area Office Market Recovery Hits Bump in 2nd Qtr 2022
7/19/22
This report provided by real estate services firm JLL Overview • Leasing was more muted, reflecting concerns over the economy and more limited progress in getting employees back into the office. • Additional space-give back...
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• Bone Clones Buys Industrial Property in Chatsworth
7/15/22
Bone Clones, a company that manufactures, distributes, and sells human and animal reproductions of bones and complete skeletons for museums, schools, exhibitors and the movie industry, acquired a 20k sf industrial building in...
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