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• First National Bank Center in San Diego Sells For $115 Mil
7/18/03
DRA Advisors/Landmark Asset Management Group has purchased the 27-story, 547k sf, First National Bank Center, located at 401 West A Street in downtown San Diego, from USAA Realty Company for $112 mil ($205/sf). The Class A hi...
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• Westside Multifamily Sites Stir Up Interest
7/18/03
Marcus & Millichap recently sent us in the note that the sold a 15.2k sf parcel of land in West Hollywood at the Havenhurst Community Garden, which is located at 1351 Havenhurst Drive, half a block from Sunset Boulevard.
Av...
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• Voit Building $44 Mil Industrial Park In Burbank
7/17/03
On Thursday, July 10, Woodland Hills-based Voit Development Company closed escrow on a 22-acre site adjacent to the Burbank Airport, where the company will develop the Burbank Airport Commerce Center, a $44-million, 480k sf s...
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• Santa Fe Springs Landlord Wigs Out
7/17/03
It's time to focus our attention on LA's Mid-Cities region, which, for the purposes of our coverage, includes communities immediately surrounding downtown Los Angeles to the south and east, such as Vernon and Commerce, to are...
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• Alert Alert
7/16/03
We've been hearing about a whole new slate of office building sale activity, much of which has been recently picked up in the Real Estate Alert, so here's a rundown on some great So Cal office properties that have become offi...
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• R&B ain't Singing the Blues Over $4 Mil Ontario Industrial Buy
7/16/03
R&B Wholesale Distributors, a distributor of household appliances, paid $4.1 mil for a 71.1k sf ($58/sf) industrial building at 2350 Milliken Ave, adjacent to the 60 Fwy between Mission Blvd and Riverside Dr in Ontario. The s...
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• Bascom Closes Suite Deal for Trio of Premier Office Centers
7/15/03
The Premier Business Centers unit of the Bascom Group has acquired three executive office centers from Western Business Centers and plans upgrades at all three. The three centers consist of a 12.1k sf suite on the eighth floo...
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• Younan Leaves their Mark in Sale of Promark Building
7/15/03
The Promark Entertainment Building, a 27k sf, class “B” office building at 3599 Cahuenga Blvd in Studio City, traded hands for $4 mil ($148/sf). Younan Properties, out of North Hollywood, was the seller, while the buyer was a...
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• Arden Spears Major Downtown San Diego Tenant
7/14/03
In one of the biggest downtown San Diego office leases so far this year, Arrowhead General Insurance Company agreed to a 10-year, $19.1 mil deal for 67.7k sf ($2.35/sf/mo) of office space at 701 B St, a 24-story, Class A offi...
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• Investors Pick Up Retail Centers in Lake Forest and La Mirada
7/14/03
The Mayfield Trust paid $4.25 mil for Foothill Center, a two-building, 19.4k sf ($219/sf) retail center located at 20651-20671 Lake Forest Drive, south of the Foothill Transportation Corridor in Lake Forest. Located just minu...
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• Platt's Plans Plastered by Pols in Burbank
7/11/03
By Steve Bloom
Earlier this quarter the Burbank City Council flexed their land use and architectural muscle and unanimously rejected developer Rick Platt's plans for the four-acre site bounded by North Lima St on the west an...
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• Burnham Real Estate Services Expands Ownership
7/11/03
Burnham Real Estate Services has announced that after 112 years of closely held shareholder control, it has expanded its ownership to include 22 individuals who have tenure with the company and a strong track record for value...
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• July 10, 2003 - $12.5 Mil Will Get You a Marquis Hotel Property
7/10/03
An interesting Inland Empire hospitality property has hit the market, as a pair of Marcus & Millichap brokers has the listing for the Palm Springs Marquis Resort & Conference Center, a full-service hotel at 150 S. Indian Cany...
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• Inland Empire Activity Update
7/10/03
Here's a quick rundown on a few bread and butter deals from the Inland Empire, in which we review three leases and a recent sale. We'll start in Rancho Cucamonga, where State Farm Insurance agreed to a five-year, $5 mil lease...
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• Continental Development Pays $42 Mil for Torrance Office Campus
7/09/03
El Segundo-based Continental Development Corp has purchased Skypark Center, a 376.7k sf office park in Torrance, from a Delaware investment group for $42.5 mil ($113/sf). Located north of Pacific Coast Highway and bordered b...
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• Koll Company Wraps Up $13 Mil Buy of Carson's Coral Tree
7/08/03
Coral Tree Business Center, a 135.5k sf industrial park, was purchased by the Koll Company for $13 mil ($96/sf). Situated on a 3-acre site at 223rd and Lucerne streets in Carson, the complex consists of three buildings, which...
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• Westcore Closes another Big Portfolio Sale
7/07/03
There have been a couple of major investment sales from the last couple of weeks to let you know about, one in San Diego and the other in Orange County. In the San Diego deal, Westcore closed out their second big portfolio sa...
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• Kearny Mesa Office Building Sells for $29 Mil
7/03/03
It's time to catch up on some sales activity down San Diego way, starting in Kearny Mesa, where we've got a $28.8 mil office buy to report. The buyer, a partnership that included Pacifica Real Estate Group LLC, purchased Copl...
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• More Positive Signs for LA's Office Market
7/02/03
Cushman & Wakefield has released their 2nd Quarter report for the SoCal office markets, which presents encouraging news for the L.A. Basin. Here is a quick summary of their report, as provided to us by C&W.
In an encouraging...
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• MEPT Wraps Up $115 Mil Buy of Westcore Industrial Portfolio
7/01/03
Multi-Employer Property Trust (MEPT), a $3.3 bil commingled open-end real estate equity fund, acquired a 17-property industrial portfolio from Westcore Distribution Centers, Westcore Gale and Westcore Don Julian, all subsidia...
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