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July 12, 2024
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SOUTHERN CALIFORNIA NEWS
Archive
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• Armstrong Butcher Quenches Office Product Thirst with Another Corona
4/17/03
Armstrong Butcher Properties, developers of Corona Corporate Center, has begun work on the project's second phase, a three-story, 60k sf office building. Located on a 2.9-acre site at 355 E. Rincon St, the new structure is es...
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• Investors Go for San Diego Office Properties with a View
4/16/03
A recently completed 111k sf office building in Kearny Mesa was scooped up by a California investment group, as Manchester Plaza LLC paid $29.2 mil ($263/sf) for Mesa View Plaza. That price is just under the $30 mil listing p...
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• Phoenix Realty to Oversee Genesis Workforce Housing Fund in L.A.
4/15/03
The critical need for moderate-income workforce housing in urban infill areas of Southern California is about to be given some serious attention, with the formation of a Los Angeles office of New York City-based Phoenix Realt...
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• Santa Monica Owner Pulls a $17 Mil Rabbit Out of Its Hat
4/15/03
The warm days of summer are sneaking up on us, now just a couple of months away, which makes cool beachside locations like the westside city of Santa Monica even more attractive to tenants looking for a new home. And it seems...
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• Otay Mesa Landlord Framed in $5 Mil Deal
4/14/03
There has been a fair amount of sales in San Diego County lately, particularly some major office transfers in downtown San Diego that we've covered in recent news on the site. Here are a few more noteworthy transactions that...
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• Downtown LA Banking on Big Financial Institution Leases
4/11/03
Banks are really making some moves in Downtown LA these days. A few weeks ago we reported about B of A's big commitment at 333 S. Hope Street for 163k sf, in a $43 mil deal that not only takes BP out of its lease commitment t...
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• LAX Landlord Inks Ethical Deal at Airport Center
4/10/03
In a Carson industrial deal, UTi worldwide, a global provider of freight forwarding and warehousing services, has found a new home in the Carson Town Center, after signing a seven-year, $3.1 mil lease for 66.8k sf ($0.55/sf/m...
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• Investment Partnership Gets an A for $55 Mil S.D. Office Buy
4/09/03
Some recent activity down in San Diego County is worthy of our attention, especially a major transaction valued at $55 mil that closed escrow last month. We're referring to the acquisition of the 320k sf, 18-story, 110 Plaza...
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• Auto Dealer Heads to Saturn for Site of Future Franchise
4/09/03
A former Saturn dealership site, vacant for about a year, in the city of Chino was purchased by the owner of Diamond Bar Honda. According to The Business Press, Matt Tachdjian paid $2.8 mil for the property, at 14749 Chino Hi...
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• California Custom Fruits Signs Peachy Deal at Irwindale Business Center
4/08/03
Demand for industrial space in the San Gabriel Valley continues to remain solid, and we've got a handful of recent lease comps from the last couple of months to give you a better idea of the type of activity happening in the ...
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• CT Sees Major Opportunity in $57 Mil Oxnard Portfolio Buy
4/07/03
Another large portfolio of Ventura County properties developed by the late Martin “Bud” Smith traded hands, as OC-based CT Realty, in a joint venture with Messenger/Sandpiper Companies, spent $57 mil for 15 properties in the ...
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• Sorrento Mesa Investor Gets Smart after $2 Mil Buy
4/04/03
An Escondido investment firm paid $7.93 mil for Mission View Plaza, a 51.7k sf ($153/sf) building at 3517 Camino Del Rio South, west of the 15 Fwy and adjacent to the south side of the 8 Fwy in Mission Valley. Located on over...
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• FedEx Delivers $3.7 Mil Lease to Irvine Landlord
4/03/03
Over the last couple of weeks we've seen quite a bit of lease activity in Orange County, some of which we'll share with you in this report. In the first deal, auto insurance firm Permanent General Assurance Company inked a fi...
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• Sares-Regis Succumbs to Pier Pressure in $32 Mil Ontario Buy
4/02/03
Sares-Regis Group, the Irvine-based diversified real estate development and management firm, acquired Pier 1 Imports' 747.5k sf distribution center in Ontario, along with some adjacent land, for about $32 mil ($43/sf). Locate...
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• Bentley Forbes and Tishman Speyer Closing on Major SF Valley Office Buys
4/01/03
A few major office sales are brewing in the San Fernando Valley, a couple of which are in the Warner Center area of Woodland Hills while another is at the other end of the Valley, in Burbank. The bigger of the Warner Center d...
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• Beyond the Valley of the Industrial Deals
4/01/03
Here's a review of three industrial sales, two in Oxnard and one in San Fernando, which we lumped together in this brief report. We'll start with the San Fernando deal, as W. Machine Works paid $2 mil for a 25k sf ($80/sf) bu...
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• No Hanging Chads in this Victory for the Gores
3/31/03
Here's the news of a major property sale that we gave a lot of coverage to when it went into escrow but did not follow up to tell you about the closed sale. The property is the glamorous and ritzy former Global Crossings camp...
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• Overton Moore to Sell Cross Pointe, Start Phase II of CommerceCentre@Buena Park
3/28/03
We just got the scoop on a major sale in the South Bay, as Diagnostic Products Corp has agreed to purchase Cross Pointe, Overton Moore's recently completed 170.5k sf creative/office project at 11855 S. La Cienega Blvd. The tw...
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• Home and Holmes Find New Homes in the Inland Empire
3/27/03
One of the largest buildings in the Inland Empire was just leased by The Holmes Group, a fully-integrated consumer products company based in Massachusetts, which signed a five-year, $14 mil deal for an 827.6k sf ($0.28/sf/mo)...
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• BofA Finds a New Downtown HQ at BP Plaza
3/26/03
Bank of America will be relocating their National Consumer Banking and California HQ offices in downtown LA, after agreeing to a long-term lease for about 163k sf at 333 S. Hope St, the landmark Bunker Hill skyscraper current...
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