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• New Medical Office Condo Venture Planned for Lancaster
12/29/05
Mill Valley-based Venture Corporation Inc paid $1.85 mil for 9.3 acres ($4.57/sf) of land in Lancaster, on which it will develop state-of-the-art medical and office condominiums. The development, called Venture Professional C...
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• Transpacific Closes $129 Mil Portfolio Buy
12/29/05
Transpacific Development Company has acquired a seven-building, 3.15 msf portfolio of Class A distribution buildings for a price of about $129 mil ($41/sf). The properties, known as the Crossroads Logistics Portfolio, are loc...
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• LAUSD Likes the Campus Setting
12/28/05
The Los Angeles Unified School District (LAUSD) has inked an expansion/renewal lease for a total of 18k sf at The Alhambra, the 1 msf office campus owned by The Ratkovich Company in the San Gabriel Valley community of Alhambr...
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• Voit to Convert Wheatland into Industrial Land
12/28/05
Voit Development Company has acquired a 72k sf existing multi-tenant industrial property located on approximately three and a half acres of land at 8000 and 8010 Wheatland Ave in Sun Valley. Voit plans to subdivide the existi...
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• Ratkovich's $100+ Mil Buy of People's Bank Building Closes
12/27/05
Here's a follow-up to a big LA office sale that we reported as being in the works over a month ago, that being The Ratkovich Company's purchase of The People's Bank Building, a 32-story, 420k sf tower at 5900 Wilshire Blvd in...
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• A Smorgasbord of San Diego Lease Comps
12/27/05
Here's a chance to catch up on a number of recent lease comps from San Diego County over the past month or so. The leases range between $500k and $5 mil and cover office, industrial and R&D space throughout the region.
We'll...
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• December 23, 2005 - Voit Acquires 31-Acre Site for Development of San Bernardino Business Park
12/23/05
Voit Development Company has acquired a 31-acre land parcel in the city of San Bernardino, on which the firm plans to develop a 488k sf mixed-use business park, consisting of both industrial space and office/R&D product.
Alr...
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• General Growth Abandons Lawsuit against Caruso's Americana at Brand
12/23/05
General Growth Properties (GGP:NYSE) has dropped its lawsuit against Caruso Affiliated's Americana at Brand mixed-use project in Glendale after losing at every turn to-date in its efforts to prevent the project's development....
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• CB Team Brokers Pair of Inland Empire Leases Totaling 970k sf
12/23/05
A couple of big distribution leases in the Inland Empire just closed, one in Chino and the other in Fontana. Both transactions were brokered, at least in part, by CB Richard Ellis.
In Chino, Young's Market Company inked a 10...
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• GE Finalizes $4.8 Bil Purchase of Arden Realty
12/22/05
Arden Realty and GE Real Estate, a division of GE Commercial Finance, have finalized an agreement in which GE will acquire the Brentwood-based office REIT, as we discussed in a story on RENTV a few days ago. The transaction i...
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• CPA Firm Inks Long-Term Lease for 25k sf at Century Plaza Towers
12/22/05
Stonefield Josephson, a California-based certified public accounting firm with four offices statewide, has inked an 11-year, $10 mil lease for roughly 25k sf ($3.03/sf/mo) of space on the fourth floor at 2049 Century Park Eas...
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• Argus Realty Picks Up Three-Building Kearny Mesa Office Complex
12/22/05
San Clemente-based Argus Realty Investors LP has acquired Telecom Business Center, a three-building, 101.2k sf office complex in Kearny Mesa. The asset, which is fully leased, was sold by Franklin Street Partners of Boston fo...
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• RCI Plucks First Tenant at The Grove
12/21/05
LSA Associates Inc, a design engineering firm, has signed a five-year, $2.5 mil lease for 20.3k sf ($2.05/sf/mo) at The Grove, a new 350k sf, master-planned, multi-building office campus in the Hunter Park area of Riverside. ...
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• Arden Likely to be Taken Private in $5 Bil Deal
12/21/05
In news that's been buzzing around real estate circles for some time now, it looks like Arden Realty, the LA-based office REIT led by Richard Ziman and Victor Coleman, will soon be taken private in a deal that will be worth w...
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• December 20, 2005 - Pro Moves
12/20/05
Colm Macken was named the new President and CEO at Shea Properties, the Orange County-based commercial development and investment arm of the J.F. Shea Co Inc family of companies. Macken, a real estate executive with more than...
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• Construction of New San Dimas Office Park is Complete
12/20/05
Construction has been finished on University Corporate Center, an 86.1k sf office park located on South Corporate Center Dr and South Campus Dr in Pomona. All six of the buildings in the project have already been sold or leas...
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• RREEF Tops Out Steel at New Sorrento Mesa Office Building
12/20/05
Construction is well underway on a new Class A office building in Sorrento Mesa, as steel has topped out at Pacific Center III, a six-story project located at 10160 Pacific Mesa Blvd. The development will contain approximatel...
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• Janitorial Products Distributor Cleans Up Its Space Needs with 240k sf LA Lease
12/19/05
Lagasse Inc, a leading wholesale supplier of over 10,000 janitorial and sanitary maintenance products, has agreed to a long-term lease for 239.7k sf of industrial space in an unincorporated area of Los Angeles, just north of ...
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• Legacy Partners Acquires Burbank Office Building
12/19/05
Legacy Partners Realty Fund I, a Foster City-based private investment company, purchased a 147.9k sf office building in Burbank, in a $43 mil ($291/sf) deal. The property was sold by CarrAmerica Realty Corporation, the big Wa...
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• Voit to Start Work on 200k sf Industrial Project in Sylmar
12/16/05
Voit Development Company has acquired a 10.5-acre land parcel at 15900 Olden St in Sylmar, in close proximity to the 5 and 405 freeways. Voit plans to develop an industrial park totaling approximately 200k sf in two phases on...
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