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• Housing Authority of the City of Los Angeles Spends $43 Mil for 120-Unit Res Property in the City’s La Fayette Park Neighborhood
4/04/24
In a notable multifamily trade in Los Angeles, a three-story, 120-unit apartment community in the city’s historic La Fayette Park neighborhood sold for $43.44 mil, or $362k/unit. The property, consisting of a 91k sf building ...
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• Work Gets Underway on Student Housing Project at California State University, Long Beach
4/04/24
California State University, Long Beach (CSULB) has broken ground on La Playa Residence Hall, a 108k sf student housing project designed by global architecture and design firm Perkins&Will. The project is a part of the State ...
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• Ares Management Buys 258k sf OC Distribution Facility
4/04/24
A real estate fund managed by Ares Management purchased a 258.5k sf, freestanding industrial distribution building in the OC city of Westminster. Ares is a leading global alternative investment manager.
The property sits ...
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• OC Multifamily Comp Works Out to $360k/Unit
4/03/24
In a recent Orange County multifamily comp, a seven-unit property in Anaheim traded for $2.525 mil, or $360.7k/unit. The apartment community features individual patios, garage parking, and a newly installed fire sprinkler sys...
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• West Los Angeles Office/Retail Campus Lands $65 Mil Refi
4/03/24
A Lincoln Property Company affiliate has obtained a $65 mil refi for Wateridge, a six-building, 583.6k sf office and retail campus in West Los Angeles. The Lincoln entity, LPC Realty Advisors I LLC, purchased the asset in 201...
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• Private Investors Trade Desert Hot Springs Retail Property in $6 Mil Transaction
4/03/24
An L.A. County-based private investor paid $6.1 mil for a 33k sf ($185/sf) retail property in Desert Hot Springs in an all-cash purchase. The acquisition, which includes a multi-tenant shop building and two pad buildings, one...
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• EQT Exeter Closes $197 Mil Inland Empire Industrial Buy
4/03/24
EQT Exeter has acquired Commerce Way Distribution Center, an 819k sf industrial property in the Inland Empire city of Fontana, for $197 mil ($240/sf). The property was sold by Manulife Investment Management on behalf of clien...
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• Rexford Industrial Acquires Blackstone Industrial Assets in Combined $1 Billion Investment
4/02/24
Rexford Industrial Realty acquired approximately 3 msf of industrial properties from Blackstone Real Estate entities in deals totaling $1 bil. The combined purchase consists of 48 properties and works out to an average price ...
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• NewMark Merrill Companies Picks Up CVS Pharmacy Property in Orange County
4/01/24
NewMark Merrill Companies Inc has acquired the CVS Pharmacy building within Placentia Town Center, a 142.7k sf retail center in Placentia. The property is located on the southwest corner of Yorba Linda Blvd and Kraemer Blvd.
...
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• Greystar Real Estate Partners and The Resmark Companies Secure $95 Mil in Construction Money for Santa Clarita Res Project
3/29/24
A joint venture between Greystar Real Estate Partners and The Resmark Companies is one step closer to breaking ground on a 259-unit res development in Santa Clarita after obtaining a senior construction loan of $95 mil from K...
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• OC Retail Strip Center Trades for $648/sf
3/29/24
World Premier Investments has purchased Newport and Walnut Center, a 9.6k sf retail strip center in the OC city of Tustin for $6.225 mil ($648/sf) as part of a 1031 exchange. The asset was sold by a private family trust that ...
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• Fullerton Warehouse Property Sells for $277/sf
3/28/24
A 48.2k sf, freestanding industrial warehouse in Fullerton sold for $13.35 mil ($277/sf). The building sits on 2.21 acres at 1450-1456 S. Manhattan Ave, east of Raymond Ave and just north of the 91 Fwy.
Garrett McClelland an...
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• Work Completed on New Springhill Suites by Marriott Hotel in Chula Vista
3/27/24
Construction has been completed on a 179-room Springhill Suites by Marriott in eastern Chula Vista, CA. The new 127.6k sf, all-suite hotel is located at 870 District Pl, in the city’s Eastlake area. The project was built for ...
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• R&V Management and Trammell Crow Residential Secure $200 Mil for Construction of a 600-Unit Res Project in Downtown Long Beach
3/26/24
A major residential development in downtown Long Beach is closer to getting underway, as R&V Management and Trammell Crow Residential (TCR) have obtained $200 mil in financing for Alexan West End, a 600-unit multifamily commu...
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• King Street Properties Underway with 60k sf Spec Life Sciences Project in Sorrento Mesa
3/26/24
King Street Properties has unveiled plans for a new 60k sf, spec lab and life sciences redevelopment, Mesa Labworks, in San Diego’s Sorrento Mesa submarket. King Street is converting the existing single-story building located...
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• Office Building in San Diego Sells for $17 Mil
3/26/24
A 54k sf, two-story office building in San Diego’s Kearny Mesa area traded for $17 mil. The fully leased office building sold for $315 per square foot, equating to a first-year cap rate of 8.5%. We’re told this marks the high...
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• Construction Started on Res Development in the City of Walnut
3/25/24
Sunjoint Development has started construction on the Terraces at Walnut, a 49-acre mixed use development located on Valley Blvd in Walnut, CA. Construction of the first product type, a single family two-story unit, began in...
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• Inland Empire Pilot Flying J Travel Center Trades at 4.9% Cap Rate
3/25/24
An Irvine-based private investor acquired a single-tenant property occupied Pilot Flying J Travel Center in Jurupa Valley, CA in a recent $14 mil transaction. The deal had a closing cap rate of 4.90%, which we’re told is an ...
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• Proposed Hollywood Creative Office Project Really Puts the Creative in Office
3/21/24
Los Angeles-based real estate development firm The Star LLC has submitted revised design plans for a proposed $1 bil “vertical creative office" campus on a two-acre lot at 6061 W. Sunset Blvd. The project is hoped to capture ...
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• Auto Dealership Buys Industrial/Storage Property in City of Orange
3/21/24
A 1.78-acre industrial outdoor site with five pre-existing storage buildings in the City of Orange was purchased by an auto dealership, McPeek’s Chrysler Dodge Jeep of Anaheim, in an $8.6 mil transaction. The property is loca...
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