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• Portfolio of Six LA-Area Multifamily Properties Sells in Three Deals Totaling $53.55 Mil
5/03/23
A six-property, L.A. County multi-housing portfolio sold for a total price of $53.55 mil in three separate transactions to different buyers. The assets were sold by a corporate fiduciary acting on behalf of an LLC.
The apart...
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• Latest Signings by DrinkPAk Bring 1.7 msf The Center at Needham Ranch to Fully Leased
5/02/23
The Center at Needham Ranch (CANR), an award-winning, 1.7 msf industrial park developed by a joint venture between Trammell Crow Company and Clarion Partners in Santa Clarita, is fully leased ahead of delivery. DrinkPAK, a be...
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• Premier Workspaces Opens Shared Workspace at Iconic Fox Plaza in Century City
5/01/23
Irvine-based Premier Workspaces has inked a 10-year lease for 14.5k sf of shared office space with The Irvine Company at their iconic 2121 Avenue of the Stars building (formerly Fox Plaza) in Los Angeles’ Century City.
Cons...
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• Prologis Inks Weee Deal in Santa Fe Springs
5/01/23
Weee! Inc, the leading Asian and Hispanic e-grocer in the U.S., inked a lease for Prologis Mid Counties Distribution Center, a 146.6k sf industrial facility in Santa Fe Springs. Weee! is expanding from their existing cold sto...
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• NAI Capital Commercial Launches Property Management Service
4/26/23
NAI Capital Commercial has launched a new property management division called Capital Commercial Management. The new service will provide tailored property management solutions and further strengthen the firm’s service offeri...
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• Master-Planned 34-Acre Development Site in the Santa Clarita Valley Offered for Sale
4/26/23
A 34.4-acre site known as The Bluffs at Valencia, located within the master-planned community of FivePoint Valencia in the Santa Clarita Valley, has been listed for sale. CBRE’s Craig Peters and Sam Glendon are marketing the ...
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• Renovation Work on Multifamily in L.A.’s Victor Heights Neighborhood Completed
4/25/23
VF Developments LLC, a minority and female owned and run company, has reintroduced “920 Everett”, a 2000s built, six-unit multifamily property in Los Angeles’ Victor Heights neighborhood, after completing major renovations. V...
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• Colliers Awarded Leasing and Management of DTLA Office Tower
4/24/23
Colliers has been awarded the exclusive leasing and property management assignment of Downtown Los Angeles’ Gas Company Tower at 555 West 5th Street. The firm was retained by Gregg Williams of Trident Pacific Real Estate, who...
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• San Fernando Valley Apartment Building Sells for $231k/Unit
4/24/23
In a recent multifamily comp out of the San Fernando Valley, a 13-unit property located at 13440 Victory Blvd in Van Nuys sold for $3 mil, or $231k/unit. At the time of closing, five units were vacant and in various stages of...
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• J&L Realty Partners Pays $23 Mil for Hollywood Office Property
4/24/23
J&L Realty Partners purchased a five-story, 39.2k sf office building in the heart of Hollywood for $23 mil ($587/sf). It is located at 1777 Vine St, north of Hollywood Blvd.
The property, which is situated directly across th...
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• Downtown L.A. Multifamily Property Sells for $17.5 Mil
4/21/23
The Mint, an eight-story, 42-unit multifamily property located in the heart of downtown Los Angeles, has sold for $17.5 mil, or $417k/unit. The buyer was a local investor.
Located at 1136 W. 6th St in one of the most desira...
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• ZEALOT Leases Top Floor Space at Hollywood High-Rise
4/20/23
ZEALOT has inked a long-term lease for 13k sf of space at Hollywood Entertainment Plaza located at 7080 Hollywood Blvd in the heart of Hollywood. ZEALOT, a creative marketing agency, will occupy the entire top floor of the 11...
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• Redcar Fund Management Closes Second Fund with $418 Mil in Equity Commitments
4/19/23
Redcar Fund Management has closed on Redcar Fund II (“Fund II”) with $418 mil in equity commitments. Through its successful debut Fund I, which closed in January 2020, Redcar acquired 15 assets which will total 1.4 msf upon c...
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• Two Desirable Covered Land Listings in West Hollywood Hit the Market
4/19/23
Here’s the scoop on two covered land play opportunities in the city of West Hollywood. The listings, both on Fairfax Ave, are being marketed by Andrew Levant of Kennedy Wilson Real Estate Sales & Marketing.
Presently, 1019 N...
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• Historic Building in Downtown Los Angeles Acquired for Conversion into a Boutique Hotel
4/18/23
The Garfield Building, a 12-story, 102.2k sf historic structure in downtown Los Angeles, was acquired by a Bay Area investor in a $19 mil transaction. The deal closed on March 31, ahead of the enactment of Los Angeles’s prope...
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• Res Property in L.A.’s Koreatown Neighborhood Goes for $238k/Unit
4/13/23
Gramercy Townhouse, a 30-unit in L.A.’s Koreatown neighborhood, traded hands in a $7.15 mil ($238.3k/unit) deal. Located at 430 S. Gramercy Place, Gramercy Townhouse is a three-story apartment building with a mix of studio, o...
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• George Urban Advisors, Five Horizons Partners and DRA Advisors Pick Up 851k sf SoCal Industrial Portfolio
4/12/23
George Urban Advisors, in partnership with Five Horizons Partners and DRA Advisors, has acquired a portfolio of seven industrial properties in Orange County and Los Angeles County. The properties encompass 851.1k sf of space ...
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• NewMark Merrill Companies Acquires 84k sf San Fernando Valley Retail Center
4/12/23
NewMark Merrill Companies Inc has acquired Corbin & Parthenia shopping center, an 83.7k sf community retail center located at 19555-19641 Parthenia St in the western San Fernando Valley community of Northridge. This is the ei...
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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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