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• Opportunities Emerge as Vacancy Continues Two-Year Rise in L.A. County Industrial Market
10/14/24
This report provided by real estate services firm NAI Capital Commercial
MARKET OVERVIEW
In Q3 2024, the industrial space vacancy rate in L.A. County rose to 5.5%, reflecting a 180-basis-point (bps) increase year-over-yea...
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• Universe Holdings Refinances Three SoCal Res Properties
10/14/24
Universe Holdings (Universe) has refinanced three of its SoCal multifamily properties with fixed-rate financing which will add approximately $100k sf a month in additional property cash flow.
The three new separate, five-yea...
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• Commercial Real Estate Financing Briefs
10/14/24
GREYSTONE MONTICELLO -- Darryl Myrose with Greystone Monticello closed on two bridge loans totaling $40.3 mil for two apartment complexes in Las Vegas, NV. The purpose of the loans is to refinance the outstanding bridge loans...
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• 27th Annual NAIOP SoCal UCLA vs. USC Real Estate Challenge to be Held on November 21
10/10/24
NAIOP SoCal’s popular real estate challenge returns on November 21 when a five-member graduate student team from the Ziman Center of Real Estate at UCLA’s Anderson School of Business competes against a five-member graduate st...
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• Pasadena Medical Office Building Sells for $560/sf
10/10/24
A 20k sf, multi-tenant medical office property in Pasadena sold for $11.3 mil, or $563/sf. Located at 1038-1044 S Fair Oaks Ave, the two-story, building is occupied by Acuity Eye Group and Pasadena Advanced Surgery Institute....
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• Forner Boy Scouts HQ Building in Pasadena Sells for $5.5 Mil
10/09/24
A private investor paid $5.5 mil for a 15k sf ($367/sf) office building on a 65.6k sf lot in Pasadena. The asset was sold by Greater Los Angeles Scouting (formerly Greater Los Angeles Area Boy Scouts of America). It was 100% ...
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• Drawbridge Realty and KKR/Global Atlantic Spend $185 Mil on Santa Monica Office Property
10/08/24
Drawbridge Realty, out of San Francisco, has acquired Arboretum Gateway, a 225.8k sf, creative office HQ property in Santa Monica, in a venture with KKR/Global Atlantic. The six-story property, located at 2220 Colorado Blvd i...
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• Visionary Developments Buys 10k sf of Land in East Hollywood
10/07/24
Visionary Developments, run by Tobias and Terry Harris, paid $1.9 mil for a 10k sf double lot in L.A.’s East Hollywood submarket. The asset traded for $190.27 per square foot of land.
The property is located at 4541- 4545 S...
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• Drawbridge Realty Buys 225k sf HQ Building in Santa Monica
10/07/24
Drawbridge Realty purchased a 225.8k sf, six-story Class A headquarters building located in Santa Monica’s highly-desirable media district. The property, located at 2220 Colorado Ave, also known as Arboretum Gateway, is at th...
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• The Bradmore Group Finishes Work on Marina del Rey Creative Office Campus
10/07/24
The Bradmore Group has completed construction on 42XX, a new creative, mass timber office campus in Marina del Rey. Located at 4204 Glencoe Ave, the 42XX campus spans three acres and comprises three interconnected low-rise bu...
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• Hines Buys 2,460-Unit SoCal Self-Storage Asset in $91 Mil Deal
10/04/24
Houston-based global investment firm Hines has acquired a 2,460-unit self-storage facility in Cerritos, CA for $91 mil. The 260.3k sf Extra Space Storage property was sold by a joint venture between Los Angeles-based self-sto...
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• Apartment Building in L.A.’s Echo Park Area Goes for $290k/Unit
10/04/24
In a recent L.A. multifamily comp, a five-unit apartment property in L.A.’s Echo Park area sold for $1.45 mil, or $290k/unit and $529/sf. The property is located at 1859 Echo Park Ave, north of Sunset Blvd and east of Glendal...
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• Retail Center in Hermosa Beach Sells for Over $500/sf
10/02/24
In a notable retail trade out of L.A.’s South Bay region, Chartwell Real Estate Development paid $27.8 mil for Park Pacific Shopping Center, a 49.9k sf, ($557/sf) grocery-anchored retail center in Hermosa Beach. This marks th...
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• Downtown L.A. Highrise Trades for $80 Mil
10/02/24
Union Bank Plaza, a 40-story office/retail tower located at 445 South Figueroa St in Downtown Los Angeles, has traded hands in a recent transaction valued at $80 mil. The 700k sf high-rise was acquired by Washington Capital M...
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• ACSCO Products Leases 29k sf of Space in Burbank
9/27/24
ACSCO Products Inc has leased a 29.3k sf of industrial space in Burbank. The structure, located at 3100 San Fernando Blvd, is part of a larger 63.4k sf multitenant warehouse/manufacturing facility that is now fully leased.
...
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• Aerospacelab Leases 35k sf Torrance Building
9/23/24
Aerospacelab inked a new lease for a 34.7k sf, industrial building in Torrance. The property, located at 20000 South Vermont Ave, includes 6.7k sf of office space. Marking Aerospacelab’s first factory in the U.S., the facili...
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• GPI Companies Boosts LA Area Portfolio with 292-Unit Res Buy in North Hollywood
9/20/24
GPI Companies has acquired The Lofts at NoHo Commons, a 292-unit, Class A podium-style multifamily project in North Hollywood. The transit-oriented, mixed-use property was originally built in 2006 and was extensively renovate...
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• Hermosa Beach Mixed-Use Asset Goes for $820/sf
9/18/24
A 7.9k sf, mixed-use property located at 1220 Hermosa Ave in Hermosa Beach sold for $6.48 mil ($820/sf). The property consists of ground floor restaurant space with residential units above and an adjacent parking area.
The b...
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• Optimus Properties Buys Retail Strip Center in Hollywood
9/16/24
Optimus Properties LLC has acquired a 19.9k sf retail strip center in Hollywood for $9.5 mil ($477/sf). The property, which sits on a 42.1k sf lot at 5214-5232 W. Sunset Blvd, traded via a court ordered sale.
The property i...
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• UCLA Spends $39 Mil on New Apartment Complex in West Los Angeles for Graduate Student Housing
9/16/24
A 62-unit apartment complex at the border of Los Angeles’ Cheviot Hills/Palms neighborhoods was acquired vacant by the University of California, Los Angeles for $39 mil in an all-cash purchase. The deal works out to $629k/uni...
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