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• Commercial Real Estate Vacancy Rates in L.A. County Continue to Rise
4/11/23
This report provided by NAI Capital Commercial
L.A. County's commercial real estate markets slowed in the first quarter of 2023 with vacancy rates rising and rents dropping – except for multifamily rent which jumped back up ...
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• Capital Improvement Program Well Underway at 597-Unit Marina del Rey Res Community
4/11/23
Equity Residential recently embarked on a $45 mil capital improvement program at Pearl Apartments, a 597-unit multifamily community in Marina del Rey, and has completed the first 87 upgraded residences. The asset is owned by ...
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• Van Nuys Industrial Building Sells for $351/sf
4/10/23
A 48.4k sf, multitenant industrial building in Van Nuys was traded in a recent $17 mil ($351/sf) transaction. The San Fernando Valley asset was sold by Rexford Industrial Realty and acquired by Orion Business Park LLC, a Cali...
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• Warner Center Property Goes for $137/sf in Land Value
4/07/23
CBRE brokered the sale of 6036 Variel Avenue in Woodland Hills, a 1.21-acre multifamily mixed-use development site within Warner Center, for $7,200,000 which equates to $137 per square foot for the land.
CBRE's Laurie Lusti...
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• BKM Capital Partners Spends $25 Mil on 84k sf Biz Park in the Eastern San Fernando Valley
4/06/23
BKM Capital Partners has purchased Valley East Industrial Park an 84.4k sf light industrial park in North Hollywood, for $25.3 mil ($300/sf). Situated on over two acres at 7041 Vineland Ave, the park will be renamed Backlot N...
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• Two Manufacturing Buildings in Chatsworth Acquired for $20 Mil by Cosmetics Firm
4/05/23
Two cosmetic manufacturing sites in the western San Fernando Valley community of Chatsworth traded in a $20 mil transaction. The two free-standing buildings, located at 9530 De Soto Ave and 9533 Irondale Ave, contain a combin...
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• Elat Properties Acquires DTLA Office Tower in $46 Mil Transaction
4/05/23
Elat Properties purchased 801 South Grand, an 11-story, 215.1k sf office tower in downtown Los Angeles, for $46 mil ($214/sf). The building was sold by CIM Group.
801 South Grand was 74% leased at the time of sale to a diver...
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• Advanced Real Estate Acquires Iconic Edison Tower in Downtown Long Beach
4/04/23
Advanced Real Estate has acquired the iconic Edison - a 12-story former office tower in Downtown Long Beach. The price was not immediately disclosed.
The property sits one block from Ocean Blvd at the terminus of the Metro R...
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• Downtown L.A. Office Tower Trades in $111 Mil Transaction
4/03/23
In a significant Downtown Los Angeles office acquisition, Waterbridge Capital purchased Union Bank Plaza, a 40-story, 701.9k sf high-rise located at 445 S. Figueroa St, in a deal worth roughly $111 mil ($158/sf). The Class A ...
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• West L.A. Office Building Finds New Owner in $9.3 Mil Deal
4/03/23
A SoCal-based private investor paid $9.3 mil for a 20.6k sf ($451/sf) office building in the Brentwood/Westwood area on L.A.’s Westside. The property, located at 520 S. Sepulveda Blvd, was built in 1970 and renovated in 2022....
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• Construction Started on 292-Unit San Gabriel Valley Res Community
4/03/23
Work has started on Solana at Duarte Station, a new 292-unit five-story luxury apartment community located in the San Gabriel Valley city of Duarte. The project, which includes an eight-story parking structure, is a developme...
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• Local Law Firm Pays $2.9 Mil for Studio City Mixed-Use Property
3/31/23
A 6.6k sf mixed-use property in Studio City traded for $2.9 mil, or $437/sf. The property, situated on an 8.3k sf lot at 3611 Cahuenga Blvd, consists of a residential triplex built in 1960 and five units of office space built...
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• Positive Investment Spends $8 Mil on 34 Res Units in Lawndale
3/31/23
Positive Investments wrapped up a SoCal res buy, paying $8.21 mil for The Lawndale Portfolio, two multifamily assets totaling 34 units ($241.5k/unit) in the L.A.-area city of Lawndale. The properties were 94% occupied at the ...
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• TTM Real Estate Capital Pays Around $80 Mil for HHLA Retail Center in Westchester
3/31/23
TTM Real Estate Capital, a subsidiary of Cannon Commercial, has acquired HHLA, the 245.4k sf retail center that makes up part of the Howard Hughes Center mixed-use campus in Westchester, adjacent to Playa Vista on L.A.’s west...
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• San Fernando Valley Industrial Building Goes for $274/sf
3/30/23
A 26k sf industrial building in the heart of the San Fernando Valley traded for $7.135 mil, or $274/sf. The building is located at 15950-15952 Strathern St, south of Roscoe Blvd and west of the 405 Fwy in Van Nuys.
The indu...
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• Haven Warner Center Res Community Trades in $54 Mil Transaction
3/29/23
Haven Warner Center, a 205-unit multifamily asset in Warner Center, a master-planned neighborhood and business hub in the western San Fernando Valley, sold for $54 mil, or $263.4k per unit.
Completed in 1985, Haven Warner Ce...
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• Apartment Property in L.A.’s Mar Vista Area Sells for Over $500k/Unit
3/29/23
The Coral Tree Apartments, a 31-unit, 35.9k sf apartment complex in the Mar Vista area of Los Angeles, sold for $15.875 mil, or $512k per unit. The property is located at 4225 Inglewood Blvd, just south of Washington Blvd on ...
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• Golden Bee Properties Wraps Up $39.5 Mil Res Buy in Sylmar
3/28/23
Golden Bee Properties purchased Mountain View Manor, a 200-unit LIHTC multifamily property in the northeast San Fernando Valley community of Sylmar, for $39.5 mil ($197.5k/unit). The property is located at 12960 Dronfield Ave...
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• Single-Tenant Industrial Building in Carlsbad Gets New Owner in $11.8 Mil Deal
3/24/23
A 32k sf, single-tenant industrial building in Carlsbad sold for $11.85 mil ($370/sf). The property, located at 2070 Las Palmas Dr, in the City Centre industrial corridor, was acquired by a Covina-based family investment enti...
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• Class B Office Building in Woodland Hills Bought for $173/sf
3/23/23
A 48k sf office property in Woodland Hills sold for $$8.3 mil ($173/sf). The Class B building is located at 22801 Ventura Blvd, at the intersection with Fallbrook Ave.
Located centrally on Ventura Blvd, with proximity to Cal...
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