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• Next Century Closer to New Development at Century Plaza Hotel Property
8/12/10
By Allen Wolfsheimer
Next Century Associates LLP, the current owner of the Century Plaza Hotel, unveiled revised plans for the development of additional mixed-use space on the 5.75-acre Century City site that includes the ic...
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• Santa Monica is Still The Place
8/11/10
The new project is already 92% leased and 97% committed, with Nordstrom and Tory Burch opening August 27th, Tiffany & Co. slated to open September 2010 and The Market at Santa Monica Place planned for the first half of 2011. ...
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• BH Properties Locks Up New Tenants in Salt Lake City
8/10/10
SoCal-based BH Properties recently signed new tenants at two of their industrial properties in Salt Lake City. In one of the transactions, Creminelli Fine Meats signed a 10-year lease for 47k sf of food preparation/distribut...
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• Dominion Negotiates Loan Modification and Restructuring on NoCal Retail Center
8/10/10
LA-based Dominion America Realty Advisors (“DARA”) recently transacted a loan modification and restructuring of the financing on a major Northern California retail shopping mall. DARA’s Vice President, Loren Thall, negotiate...
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• LA-Area Multifamily Sales Review
8/06/10
In a recent apartment sales comp from West Hollywood, Marilana Properties LLC paid $2.6 mil for an eight-unit ($325k/unit) property located at 866 Hilldale Ave. The luxury complex is a completely renovated turnkey property wi...
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• USC Inks 160k sf Westside Office Renewal
8/05/10
In what we’re told is the biggest office lease in West LA so far in 2010, the University of Southern California inked a long-term renewal for 160k sf of space at Marina Towers in Marina Del Rey. The space houses USC’s Informa...
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• Diversified Crating & Packaging Acquires 34k sf Gardena Facility
8/05/10
A 33.5k sf industrial facility in the city of Gardena was recently purchased for $2.2 mil ($66/sf) by the principals of Diversified Crating & Packaging for the company’s expansion and relocation needs. The two-building proper...
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• PSSI Leases 23k sf Near Van Nuys Airport
8/04/10
Production & Satellite Services, International (PSSI) inked a new five-year, $957k lease for 22.8k sf ($0.70/sf/mo) of office and warehouse space at 7030 Hayvenhurst Ave, west of the 405 Fwy and adjacent to Van Nuys Airport i...
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• Consumer Goods Company Leases 155k sf Santa Fe Springs Facility
8/03/10
Alticor/Access Business Group, a third-party manufacturer of consumer goods, signed off on a seven-year of a 155.5k sf industrial building at 12825 Leffingwell, west of Carmenita Rd and south of Imperial Hwy in Santa Fe Sprin...
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• AIR Forms Young Professionals Advisory Group
8/02/10
AIR Commercial Real Estate Association has formed a Young Professionals Advisory Group (YPAG) to “stay connected” with its leaders of tomorrow. Tim Hayes, Executive Director of AIR, said the YPAG comprises 15 successful AIR b...
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• Pieces Coming Together After Mosaic Ground Breaking Event
8/02/10
Mosaic, a new mixed-use workforce housing development in Los Angeles, recently broke ground with a public ceremony attended by Los Angeles City Councilman Ed P. Reyes along with a number of execs from the project developer, A...
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• La Canada Retail Center Fetches $16 Mil
7/30/10
Foothill Promenade, a 42.1k sf neighborhood shopping center in La Cañada, was acquired by a partnership of private individuals for $16 mil ($380/sf). The property is on a 2.75-acre parcel at 475 Foothill Blvd, at the signaliz...
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• Local Investor Spends $7.6 Mil on North Hollywood Multifamily Asset
7/30/10
Provence Way Apartments, an 88-unit multifamily complex in North Hollywood, was purchased by a Los Angeles-based private investor for $7.6 mil ($86/unit). The property is situated on over two acres of park-like grounds at 610...
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• LA Office Market Continues to Struggle While Industrial Market Sees Some Gains
7/30/10
Here’s a brief overview of the Los Angeles office and industrial markets as of the end of the second quarter of 2010. This was provided to us by national real estate services firm Grubb & Ellis.
OFFICE
• The Los Angeles of...
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• Mercedes-Benz Renews Its Beverly Hills Showroom Space
7/29/10
In a recent Beverly Hills office/showroom lease, Miller-DM, Inc., which operates as Mercedes-Benz of Beverly Hills, signed a 15-year lease renewal for 60.9k sf at Beverly Mercedes Place, where the dealership has been located ...
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• New RENTV Executive Report: South Bay Hot Transactions
7/28/10
Here’s a great way to keep up with all of the transaction activity throughout LA’s South Bay from the past year. RENTV’s latest executive report -- a compilation of closed sale and lease comps from the region over the past 12...
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• Casden’s Latest SoCal Apartment Community Set to Open Its Doors
7/28/10
Empire Landing, a new 276-unit luxury apartment development in the heart of Burbank’s entertainment and media district, is set to open to the public on August 1. The craftsman-styled project, situated on seven acres at the co...
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• Transportation Contracting Firm Leases 5.5-Acre South Bay Site
7/28/10
In a notable industrial transaction in LA’s South Bay, a 5.5-acre site in Carson was leased by MV Transportation Inc., the largest privately-owned transportation contracting firm in the United States. The 10-year deal is val...
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• LAX Office Complex Inks Trio of 1st Half Leases Worth Over $30 Mil
7/26/10
In a positive sign for Los Angeles’ LAX office submarket, there were three large lease transactions totaling over 180k sf at the Airport Spectrum complex during the first half of 2010. Airport Spectrum is owned by Decron Prop...
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• $6.6 Mil Sale in City of Industrial Buildings
7/26/10
An 81.3k sf industrial property in the City of Industry was acquired by an unnamed buyer for $6.59 mil ($81/sf). Located at 20465 Walnut Dr, west of Lemon Ave and north of the 60 Fwy, the building was sold by Hager Pacific Pr...
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