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• NewMark Merrill Companies Lands Management Assignment for 294k sf South OC Retail Center
6/13/24
Horowitz Group has awarded NewMark Merrill Companies the property management assignment for Plaza de la Paz, a 294.6k sf retail destination in Laguna Niguel. The center is located at 27241 La Paz Rd, at Pacific Park Drive.
A...
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• Landsea Homes Corp Acquires Huntington Beach Site for 129 New Homes
6/13/24
Landsea Homes Corporation purchased 129 homesites for a new all-electric community called Essex + Gage in Huntington Beach, CA. Land development has already begun, and the community will open for sale in spring 2025.
Situat...
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• Huntington Beach Multifamily Property Trades for the First Time in Over 50 Years
6/12/24
Beachwood Apartments, an 18-unit multifamily community in Huntington Beach, was purchased by a private investor for $8.65 mil, or $480.5k/unit. Built in 1971, Beachwood Apartments sits on six lots totaling 17.6k sf at 125 16t...
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• Federal Realty Investment Trust Collects $103 Mil from Sale of Properties Along Santa Monica’s Third Street Promenade
6/11/24
Federal Realty Investment Trust has sold its remaining assets along Santa Monica’s Third Street Promenade -- eight buildings containing 185k sf of space -- for $103 mil ($557/sf). The buyer was not disclosed. Including a prev...
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• SoCal Industrial Portfolio Sold in Two Transactions Totaling $74 Mil
6/11/24
A portfolio consisting of two industrial properties spanning six buildings and 387.5k sf of space in the SoCal cities of San Marcos and Temecula was acquired by different buyers in separate deals that totaled $74 mil.
One o...
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• Logistar Leases 146k sf Inland Empire Industrial Property
6/10/24
Logistar Inc leased a 146.8k sf distribution facility in the city of Ontario. The property is located at 5700 E. Airport Dr, within the larger, 250.2k sf Airport Distribution Center.
Designed to meet the needs of modern dis...
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• Upscale Grocer Erewhon Acquires 24k sf Glendale Building for New Location
6/07/24
Erewhon, the upscale organic market and café with ten locations across Southern California, has purchased the 24k sf, former Virgil’s Hardware Home Center located at 520 N. Glendale Ave in Glendale.
Erewhon will utilize 18k...
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• Decron Properties Closes $99 Mil Retail Buy in San Diego
6/07/24
Decron Properties has acquired Mira Mesa Market West Shopping Center, a 238.7k sf shopping center in the San Diego submarket of Mira Mesa, for $99 mil ($415/sf). The acquisition of the fully leased center included the assumpt...
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• Adjacent Res Fourplexes in Huntington Beach Generate Combined Price of $5.4 Mil
6/06/24
A private investor purchased two four-unit multifamily properties in Huntington Beach for a combined price of $5.425 mil. The seller is based in Huntington Beach, while the buyer is from Westminster.
This was the first time ...
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• Work Finished on New $38 Mil STEM Building on Menifee Campus of Mt. San Jacinto College
6/05/24
Construction has been completed on a new two-story STEM building on the Menifee campus of Mt. San Jacinto College. The $38 mil, state-of-the-art building, which broke ground in May 2022, was designed by DLR Group and built by...
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• SoCal Multi-Tenant Industrial Facility Goes for $252/sf
6/05/24
A local private investor paid $7.6 mil for Paramount Business Center, a 30.2k sf ($252/sf) multi-tenant center in the L.A. area city of Paramount.
The property has 11 units ranging in size from 2,025 to 3,794 sq. ft. Each un...
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• Landsea Homes Corporation Picks Up OC Sites for New Res Community
6/04/24
Landsea Homes Corporation has acquired 44 OC homesites for a new community called Mason in Anaheim. Land development has already begun, and sales are anticipated to start later this year.
Situated on the corner of Lincoln ...
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• Affordable Housing Project in L.A.’s Koreatown Neighborhood Set to Go with $24 Mil in Construction Money
6/04/24
Kingsley Apartments, a planned 136-unit, 100% affordable property in Los Angeles’ popular Koreatown submarket, is closer to becoming a reality after landing $24.4 mil in construction money.
The project is situated just three...
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• Hollywood Office Building Sells in $25 Mil Deal
6/03/24
A six-story, 86.6k sf office building in Hollywood has traded hands in a $25.5 mil ($294/sf) deal. The Class A property, located at 7083 Hollywood Blvd, at the intersection with La Brea Ave, is viewed as a value-add opportuni...
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• Construction Started on California’s First Man-Made Surf Wave Resort
6/03/24
Beach Street Development & Operations has begun construction on its DSRT Surf Resort. This 17-acre AO-designed destination in Palm Desert will be California’s first facility to offer man-made surf waves open to the public. Th...
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• AMCAL Housing Nabs $101 Mil Refi on 335-Unit Res Community in Woodland Hills
6/03/24
AMCAL Housing, Gortikov Capital has obtained a $101 mil refi loan on The Clarendon, a 335-unit, Class A multifamily property in the western San Fernando Valley community of Woodland Hills.
Developed in 2020, The Clarendon of...
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• Kalaveras Takes 7k sf Retail Space in Burbank
5/31/24
Fast-casual restaurant Kalaveras signed an 11-year lease for 6.8k sf of retail space in Burbank. The restaurant, which offers customers a menu that reflects a traditional Mexican and Latin American cuisine with a modern Kalav...
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• South OC Office Asset Traded in $42 Mil Deal
5/31/24
MicroVention, a neuroendovascular medical device company, has acquired 45 Enterprise, a 242.7k sf, high-rise office building in Aliso Viejo, for $42.25 mil, or $183/sf.
45 Enterprise is a nine-story vacant building built in...
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• Advanced Real Estate Adds 68-Unit OC Res Community to Its X Fund
5/30/24
Advanced Real Estate has acquired Beachpoint, a 68-unit multifamily asset in Huntington Beach, in a recent $25 mil purchase. The property, which includes a 12k sf multi-tenant office building, will be added to Advanced’s X Fu...
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• Rexford Industrial Spends $143 Mil on Two SoCal Buys in May
5/30/24
Rexford Industrial Realty closed on two industrial property purchases in deals with a combined price of $143 mil during the month of May. The SoCal-based firm also completed the disposition of three properties for an aggregat...
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