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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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