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November 8, 2024
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SOUTHERN CALIFORNIA NEWS
Archive
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• NAIOP SoCal Presents Night at the Fights 2024 Featuring Record Four CRE Industry Bouts
9/26/24
On October 10, 2024, eight commercial real estate professionals will step into the boxing ring as part of the main event at this year’s NAIOP SoCal Night at the Fights black tie gala. Thanks to popular demand, it is the first...
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• Work Gets Underway on 68k sf Biz Park in Carlsbad
9/24/24
The Techbilt Companies has broken ground on Evolve, a brand new 67.7k sf, three-building campus in Carlsbad. The new Class A complex is situated within a 600-acre master-planned development surrounded by over 350 acres of ope...
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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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• Venture Between Alta West Partners, an affiliate of Glendon Capital Management and A2 Capital Management Buys 276k sf Conejo Valley R&D/Office Property
9/23/24
A partnership between Alta West Partners, an affiliate of Glendon Capital Management and A2 Capital Management has acquired Lakeview Innovation Center, a 276.5k sf, Class A research and development (R&D) and office property o...
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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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• Investors Trade Riverside Multifamily Property in $10 Mil Deal
9/19/24
Ramona Oaks Apartments, a 44-unit multifamily property in Riverside, sold for $10.15 mil, or $231k/unit. The property is located at 3401 Ramona Dr, on the northwest side of the 91 Fwy. The community offers a mix of one- and ...
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• BKM Capital Partners Wraps Up $110 Mil Recapitalization of Light Industrial Portfolio
9/19/24
BKM Capital Partners has executed a $110 mil recapitalization of a five-property, light industrial portfolio. The transaction also marks an expansion of BKM’s partnership with a global investment manager, bringing the joint v...
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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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• Spate of New Leases Bring Two Irvine Office Buildings to Fully Leased
9/18/24
Two OC office properties in Irvine are now at 100% leased thanks to a number of recent signings. The properties are located at 7700 Irvine Center Dr and 111 Pacifica. The assets are owned by Camphor Partners and Toda America ...
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• New 315-Unit Central OC Res Development Completed
9/18/24
Construction of Zia, a five-story, wrap-style apartment development from MBK Rental Living in central Orange County, has been finished and the project is now available for leasing. Offering upscale living with easy access to ...
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• OC Medical/Office Asset Trades for $191/sf
9/17/24
A private 1031 exchange investor paid $8.51 mil for The Bricks, a 44.6k sf ($191/sf), multi-tenant office and medical building in Tustin. The property is located at 18302 Irvine Blvd, in the heart of Old Town Tustin, between ...
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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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• Pic N Save Bargains Leases Former 99 Cents Only Store Location in Victorville
9/16/24
Pic N Save Bargains inked a 10-year lease for a 29.7k sf anchor space within a Superior grocers-anchored retail property in Victorville. The space, located at 14670 7th St, was formerly a 99 Cents Only Store. The store is ex...
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• San Diego Area Biz Park Trades for $11 Mil
9/13/24
Cast Capital Partners paid $11 mill for Four Governor Park, a two-building, 50.2k sf ($219/sf) stabilized office property in San Diego. The property, located on 2.7 acres at 5080-5090 Shoreham Place, was sold by MIG. The bus...
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• Vernon Industrial Property Sells for Over $61 Mil
9/11/24
A 7.05-acre industrial redevelopment site in Vernon traded hands in a $61.5 mil transaction. The property, which currently houses a 368.5k sf, five-story building, is located at 1925 and 1936 E. Vernon Ave. The property is l...
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• Advanced Real Estate Closes $62 Mil Res Buy in Downtown LA
9/11/24
Advanced Real Estate closed on another major multi-family acquisition, paying $62 mil for Canvas LA, a 210-unit ($295k/unit) property that sits along the 110 Fwy in Downtown Los Angeles. The property is located at 138 N. Beau...
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• Enso Logistics Leases 45k sf OC Industrial Facility
9/10/24
Enso Logistics has leased a 45k sf freestanding industrial facility located at 1830 Raymer Ave in Fullerton. Enso Logistics offers comprehensive logistics solutions, integrating warehouse services, transportation management, ...
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• La Terra Development Lands $18 Mil in Construction Money for New Self-Storage Project in the San Fernando Valley
9/10/24
LaTerra Development has obtained $18.2 mil in construction financing for the development of Raymer Self Storage, a fully entitled, 65.2k sf, self-storage facility in the central San Fernando Valley community of Van Nuys. JLL ...
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• BH Properties Buys 400k sf, San Diego-Area Mixed-Use Campus
9/09/24
BH Properties acquired Hazard Center, a 405.3k sf, mixed-use campus in San Diego’s Mission Valley area. Terms of the transaction were not disclosed. Situated on 14.5 acres, Hazard Center currently features a 15-story, 270k ...
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