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• WEPACKITALL Buys It All for $3 Mil
1/30/04
Demand for industrial owner/user facilities in the San Gabriel Valley remains very strong, as evidenced by five recent sales in the cities of Monrovia, LaVerne, City of Industry, Duarte, and Azusa. “The five buildings, rangin...
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• Big Westside Tenants Flow into Wateridge and Water Garden
1/30/04
There has been some major lease activity from LA's Westside to report. We'll start in Santa Monica, where Fremont General, the big insurance and lending entity, closed a lease at the end of 2003 for the entire 62k sf third fl...
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• Electrical Workers Acquire Trade St Building in San Diego
1/28/04
In Kearny Mesa, Maxwell Technologies sold an 86.6k sf office/industrial building at 8888 to 8992 Balboa Ave, east of the 163 Fwy at the north end of Montgomery Field. The buyer, Horizon Christian Fellowship, paid about $9 mil...
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• Texas Buyer Spends $34 Mil on Torrance Industrial Facility
1/27/04
A Texas-based private investment group has purchased a 363.3k sf industrial building in Torrance, in a transaction valued at $33.9 mil ($93/sf). The concrete tilt-up facility, which was built in 1974 and renovated in 2002, wa...
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• Jamison Trades Up to $53 Mil Downtown LA Purchase
1/26/04
Jamison Properties, the real estate investment firm led by Dr. David Lee, which owns a significant number of buildings in LA's Mid-Wilshire area, continues to aggressively pursue acquisitions in other sub-markets. The company...
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• Centra to Host a Medical Fiesta Ortega in San Juan Capistrano
1/26/04
Noting the recent start of several smallish medical projects in South Orange County, the Orange County Business Journal a few issues ago reported that Irvine-based Centra Realty Corp is moving forward with its plans for a 12-...
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• End of Year 2003 SoCal Pro Moves
1/23/04
This one is a biggie. In this Pro Moves we reach back from October to December to bring you news of real estate pros getting hired by brokerage firms, investors and developers.
In San Diego, five executives of the Rancho Ber...
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• Westcore Goes Shopping in Poway
1/22/04
SoCal-based Westcore Properties wrapped up three San Diego area acquisitions totaling approximately $18.25 mil. The deals include two retail properties: Poway Plaza in Poway for $8.4 mil and an L.A. Fitness located within P...
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• Take Me Out to the Ballpark's New 235-Room Boutique Hotel
1/22/04
Development of San Diego's Ballpark District took another big step forward, as JMI Realty has closed financing for the 235-room boutique hotel planned for development at the area's gateway, and will begin construction later t...
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• Irvine Building Trades Hands in Panic Sale
1/21/04
In a very newsworthy Costa Mesa sale, LA-based Commercial Ventures Inc paid $23 mil for The Waters at Creekside, a 156.9k sf ($147/sf) office park at 2900 Bristol St, just north of the intersection of the 56 and 73 freeways. ...
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• Equity Office Squeezes out of Orange County Submarkets in Recent CA Dispositions
1/21/04
Here's some additional info on a pair of Orange County office sales that we first reported about a week ago in an article on Equity Office Properties' disposition of a number of California properties as part of an effort to c...
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• LAX Tenant Expedites $5.8 Mil Office Renewal Deal
1/20/04
Here are four recent transactions -- three leases and a sale -- to help you get caught up on some of the latest activity from the South Bay. We'll lead off with the leases, one of which was in the LAX area, where Expeditors I...
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• Layton-Belling Lands at Ontario Airport
1/20/04
Irvine-based Layton-Belling & Associates has acquired the 213.1k sf Ontario Airport Commerce Center from SZA Real Estate for $13.7 mil, or about $64/sf. Developed by Burke in 1989, the property consists of three multi-tenant ...
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• Ticor Title Grabs Glendale Space
1/19/04
We've been given a few 4th Quarter 2003 deal comps in the San Fernando Valley, which we'll share with you in this report. The largest transaction was in Calabasas, where RayArt Studios paid $11.7 mil for a 47k sf ($249/sf) bu...
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• Cruzan/Monroe Wraps up $14 Mil Carlsbad Buy
1/16/04
In its sixth transaction in the last 12 months, Cruzan/Monroe has purchased an industrial warehouse facility and a vacant 3.8-acre development parcel in Carlsbad for $14.15 mil ($90.50/sf). The project, located at 2858 Loker ...
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• Cooler Times Prevail in Mid-Cities Cold Storage Facility Deals
1/16/04
Union Ice Company, the second largest ice producer in Southern California, has sold their existing 14-acre industrial site in the City of Commerce to Xebec Commerce LLC. The site, located at 6100 Sheila St, currently contains...
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• McCarthy Cook & Dr. Lee Head South
1/15/04
In a December announcement, McCarthy Cook & Co paid $19 mil, or $76/sf, to Teachers Insurance and Annuity Association-College Retirement Equities Fund (TIAA-CREF) for the 250k sf office building at 20101 Hamilton Ave, in the ...
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• Voit/Selleck All Revved Up about Development of Final 26 Acres at Former GM Plant
1/15/04
In a joint venture, Voit Development Company and Selleck Development Group have teamed up to purchase an additional 26 acres from General Motors in the San Fernando Valley community of Panorama City, enabling the partnership ...
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• Ronald Reagan Wins TOBY Award
1/14/04
BOMA Orange County's Office Building of the Year 2003 TOBY Awards were presented to a pair of distinguished properties, Dupont Centre, and the Ronald Reagan Federal Building and U.S. Courthouse.
The TOBY award was created in...
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• January 14, 2004- Upland Businesses to Start Paying for Cable
1/14/04
It's been a while since we last posted an activity update from the Inland Empire, so in this report we'll mention some of the more recent news tidbits from this southeastern part of the state. To start, we'll mention a new in...
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