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• Sunstone Paying $293 Mil for Century Plaza Hotel
8/30/05
Sunstone Hotel Investors Inc, a San Clemente-based hotel REIT, and Global Hyatt Corporation have teamed up in a $293 mil acquisition of the 728-room ($402.5k/unit) Century Plaza Hotel & Spa in Century City. The purchase price...
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• New Mission Valley Office Building Fetches $270/sf
8/29/05
Rio Vista Plaza III, a 79.7k sf office building at 9095 Rio San Diego Dr in Mission Valley, traded hands at a price of $21.55 mil ($270/sf). The four-story building, which was just completed, was sold by Rio Courtyard LLC. It...
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• It's Home on the Range at Corona Crossroads
8/29/05
Imperial Range Inc, out of Duarte, has purchased an 87.2k sf building at 1128 Sherborn in the city of Corona for $5.5 mil ($63/sf). The building is part of Birtcher Develoment's Corona Crossroads, a $42 mil, eight-building de...
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• Morgan Stanley takes 11k sf of Ocean Ridge Space
8/26/05
Morgan Stanley inked a 10-year lease for 11.3k sf at its Ocean Ridge office building, a 75k sf, three-story Class A property currently under development by LA-based Lowe Enterprises in Carlsbad Ranch. The firm will relocate f...
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• Palm Springs Law Firm Acquires its Downtown HQ Building
8/26/05
Slovak, Baron & Empey LLC, a Palm Springs-based law firm, paid $1.9 mil for a 10.4k sf ($183/sf) office building at 1800 Tahquitz Canyon Way, near Palm Springs International Airport and the downtown area in the city of Palm S...
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• Irvine Office Building Trades for $8 Mil
8/25/05
A Los Angeles-based private investor paid $8 mil for a three-story, 36.2k sf ($221/sf) office building at 10 Corporate Park, just south of the intersection of Barranca Pkwy and Jamboree Rd in Irvine. The building, which is pa...
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• Hager Pacific Acquires Stater Bros HQ Campus
8/25/05
Hager Pacific Properties has acquired the Stater Bros corporate HQ and campus, located in Colton, for approximately $30 mil, in an all-cash deal. The complex totals more than 800k sf ($37.50/sf) of improvements and is located...
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• Investor Makes $6.9 Mil Fullerton Buy from CT Realty
8/24/05
A private investor acquired a 117.6k sf industrial building at 800 S. Raymond Ave, north of Orangethorpe Ave in Fullerton, for $6.9 mil ($59/sf). The property, which was sold by CT Realty, is located on an 11-acre parcel. The...
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• SoCal Pro Moves
8/24/05
KEN HIRA: Ken K. Hira has joined Westrust as the Vice President – Acquisitions for Southern California. In his new position, Ken will be responsible for identifying new neighborhood and community shopping center development s...
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• Equity Breaks Ground on New UTC Office Development
8/23/05
Bridge Pointe Corporate Centre III, a new Class A office development in San Diego's Golden Triangle area is underway, as the project's developer, Equity Office Properties, just broke ground on the two-building, 150k sf develo...
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• Lowe's Investments in San Gabriel Valley Blossom with Tulip Buy
8/23/05
Lowe Enterprises acquired a 131.2k sf building in the City of Industry from Tulip Corporation, on behalf of an investment client. The building currently serves as manufacturing space for PHI, a division of Tulip Corporation,...
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• Caribou Sheds $5.9 Mil Bldg from Herd
8/23/05
Live Oak Plaza LLC has acquired the 59.9k sf five-story Bank of the West building at 1622-1666 North Main St in Santa Ana for $5.9 mil ($98/sf). The building, which is situated east of the 5 Fwy and south of 17th St, is lease...
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• Industrial Vacancy Rate in the Inland Empire Drops Below 3%
8/22/05
The vacancy rate for industrial product in the Inland Empire dropped to 2.7 percent in the second quarter of 2005, down from 3.6 percent the previous quarter and 5.6 percent a year ago, according to a recent report released b...
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• Industrial Sales Comps from San Diego
8/22/05
In an Escondido sale, a couple of multi-tenant industrial buildings on separate parcels within Andreasen Business Center, southwest of the I-15 and Hwy 78 juncture, sold for $7.3 mil ($151/sf). The acquisition consists of a 3...
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• Koll Sells Newport Beach HQ Building of 19 Years
8/19/05
Steadfast Companies, a Newport Beach-based real estate firm, has acquired the 53k sf HQ building for The Koll Company at 4343 Von Karman, between MacArthur Blvd and Campus Dr in Newport Beach. The Koll Company, which has owne...
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• Voit Sells Out Anaheim Industrial Centre
8/19/05
Voit Development Company, has sold out Anaheim Industrial Centre, an 11-building 58.1k sf industrial park, for a total of $9.7 mil ($167/sf). The project completely sold out just six months after the buildings came on the mar...
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• Marcus & Millichap Moves
8/18/05
There have been a number of newsworthy pro moves at Marcus & Millichap, the CA-based national investment brokerage firm. Here's a rundown of some of the latest announcements from the company's California offices.
ALEXANDER G...
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• Latest Sony Pictures Release Sure to be a Blockbuster
8/18/05
A primo Westside office property has just hit the market, as Torrance-based Transpacific Development Company has listed Sony Pictures Plaza, the classy eight-story office building at 10000 Washington Blvd, east of Overland Av...
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• Berkson Goes to Work on MetroWork
8/17/05
Berkson Realty Advisors LLC has begun selling units at MetroWork, Downtown San Diego's first new construction Class A high-rise office condominium project. MetroWork's 27 condominium office suites range from approximately 1.2...
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• Property Management Notes
8/17/05
PM REALTY GROUP: Newport Beach-based KBS Realty Advisors has awarded PM Realty Group management of two buildings totaling 400k sf, located at 4000 MacArthur Blvd in Newport Beach. KBS purchased the complex in April 2005.
Th...
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