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Investors Make Career of $22 Mil Buy in San Diego's City Heights 10/06/04 An investment group paid $22.2 mil for the Metro Career Center, an 82.2k sf ($270/sf) building at 3910 University Ave, a few blocks east of I-805 in San Diego's City Heights area. San Diego Workforce Partnership occupies the ...
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Hedley Makes Headway with New Business Park in Orange 10/06/04 A 4.25-acre site on Grove Ave in the city of Orange was purchased for nearly $4 mil ($22/sf) by a local developer with plans to build a 79.7k sf business park on the land. The buyer, Hedley BIZCTR Orange LP, reports that the ...
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Pacific Palisades Office Building Fetches $239/sf 10/05/04 Here's the scoop on a pair of recent office property sales in the LA area, one of which was in West LA while the other was in the west San Fernando Valley. Both deals were brokered by Bob Safai and Lynwood Fields of Madison P...
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Pacific Enterprises Gets an International Education 10/04/04 Here's a review of a number of recent San Diego County lease comps, courtesy of Grubb & Ellis/BRE Commercial, the big regional brokerage firm that handled one or both sides of all these transactions.
We'll lead off with a Ke...
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Office Investment Activity Gaining Momentum in the San Fernando Valley 10/04/04 A 114k sf San Fernando Valley office property is about to trade hands, as Boston-based TA Associates has reached an agreement to purchase Encino Executive Center, a six-story, 23-year-old building at 16027 Ventura Blvd, a few...
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Rexford Means Business with $13.4 Mil Fullerton Buy 10/01/04 Rexford Properties LLC paid $13.4 mil for the Fullerton Business Center, a 161.1k sf ($83/sf) industrial park located at 2300 – 2386 East Walnut Ave, west of the 57 Fwy at State College Blvd in Fullerton. The 20-year-old indu...
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Cruzan/Monroe Closes $10.6 Mil Land Buy at Oceanside Corporate Center 10/01/04 Cruzan/Monroe, the San Diego-based real estate acquisition and development firm, picked up two lots (10 and 11) within the Ocean Ranch Corporate Center for $10.6 mil with plans to develop a 520k sf business park on the 30-acr...
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The West Valley is Where You'll Find those $150 Mil Office Listings 9/30/04 Two major office properties in the west San Fernando Valley have recently been put on the block, each worth around $150 mil. Credit Suisse First Boston is shopping its LNR Warner Center I & II, a three-building, 449k sf offic...
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Twin Med Leads Twin Deal Review from Santa Fe Springs 9/30/04 Twin Med Inc, a Vernon-based distributor and wholesaler of medical supplies, has inked a five-year, $3 mil lease for 105.3k sf ($0.47/sf/mo) of industrial space at 11333 Greenstone Ave, south of Florence Ave and east of Bloom...
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Liquid Container Solidifies $2.4 Mil Lease in Rancho Cucamonga 9/29/04 Liquid Container, a Chicago-based manufacturer of plastic bottles, inked a five-year $2.4 mil lease for 100k sf ($0.40/sf/mo) of warehouse space at 11555 Arrow Hwy in Rancho Cucamonga. The space will serve as overflow warehou...
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Quest for more Space Leads Firm to Sign 15-Year Expansion Deal in Chatsworth 9/28/04 Quest Diagnostics Inc, a national provider of diagnostic testing services, inked a 15-year, $10 mil expansion lease for an additional 38.8k sf ($1.42/sf/mo) of space in the northwest San Fernando Valley, bumping up their tota...
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Hagar Pacific Collects $16 Mil from Sale of Hesperia Facility 9/28/04 SoCal-based Hagar Pacific Properties has recently been involved in a trio of newsworthy transactions, including the sale of the former Heilig-Meyers property in Hesperia, which they sold to an unnamed West LA-based private in...
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328k sf Lease is a New Industry Standard 9/27/04 Alabama-based Standard Furniture has signed a five-year lease to occupy 325.7k sf in a master-planned industrial center in the City of Industry currently under development by Majestic Realty, in a transaction valued at $8 mil...
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Investor Interest for San Diego-Area Buildings Remains Strong 9/27/04 A 29.5k sf office building in Mission Valley has sold for $4.4 mil, or about $149/sf. Located at 3636 Camino del Rio North, just west of I-15 and north of I-8, the 24-year-old building was purchased by a partnership of Momarf...
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Coppersmith Forges a $5.75 Mil Purchase in El Segundo 9/24/04 A couple of locally based businesses have acquired El Segundo buildings in unrelated transactions. In the larger of the two deals, Coppersmith Inc, an international transportation company, picked up a 40k sf office building f...
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Irvine Company to Pick Up another Downtown San Diego Office Tower 9/24/04 It looks like another downtown San Diego office tower is about to trade hands, as The Irvine Company has reportedly reached an agreement to purchase the 473k sf Wells Fargo Plaza for about $150 mil ($317/sf), per the Real Est...
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Latest Bug No Problem for Sunset Strip Building 9/23/04 A Beverly Hills-based investment partnership paid $6.4 mil for Carthay Circle Garden Plaza, a 21.8k sf ($294/sf) office building at 955 Carillo, between Olympic and San Vicente Blvds, a few blocks east of Beverly Hills. Built...
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Hair Club for Men Thins Out OC Office Market 9/22/04 K. Hovnanian Companies of California, one of the state's larger homebuilders, inked an eight-year, $4.3 mil lease for 32.3k sf ($1.39/sf/mo) of space at 2525 Campus Dr, between MacArthur Blvd and Jamboree Rd in Irvine. Phil C...
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Investors Pay $52k/Room for 80-Year-Old Hotel Near Downtown LA 9/21/04 L.A. Properties Investments paid $15.48 mil for the 294-room ($52.6k/room) Best Western Mayfair in Los Angeles. The deal had a 5.91 percent market capitalization rate.
The Best Western Mayfair Hotel sits on a 37k sf site a...
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Santa Fe Springs Warehouse Building is to Dye For 9/20/04 A 40k sf industrial warehouse property at 13528 Excelsior Dr in Santa Fe Springs was purchased by a locally based business for $3.6 mil, or about $90/sf. The buyer, L.A. Supply, is a 15-year-old dyestuffs and dyeing chemical ...
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