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• SoCal Dutch Bros Building Sells for $2,737/sf
11/27/23
A newly constructed, 950 sf Dutch Bros Coffee retail property in Escondido was acquired by a private investor for $2.6 mil, or $2,737/sf. The structure sits on a 0.63-acre lot at 2365 E Valley Pkwy, east of I-15.
Noteworthy ...
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• UCLA Team Wins NAIOP SoCal’s Annual Silver Shovel
11/22/23
Due to its winning presentation “Legacy Ranch,” the five member graduate student team from UCLA took home the silver shovel as the winner of the NAIOP SoCal USC vs. UCLA Real Estate Challenge.
This year’s event, held Novemb...
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• Traveler’s Insurance Leases 41k sf of Office Space in the San Gabriel Valley
11/22/23
Traveler’s insurance inked a 66-month lease for 41.6k sf of office space in the eastern San Gabriel Valley city of Diamond Bar. The Class A, three-story 80.2k sf building is located at 21680 Gateway Dr, south of Hwy 60 and ad...
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• Two OC Multifamily Trades Total $7.6 Mil
11/21/23
Here’s an update on two OC multifamily properties totaling 24 units that sold in separate transactions with a combined price of $7.61 mil.
In one of the deals, a 16-unit multifamily property located at 1801 and 1809 East Wil...
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• Steinhauer Properties Acquires Long Beach Site for Planned Hard Rock Hotel
11/17/23
Steinhauer Properties has secured $8.75 mil of early phase financing covering the land acquisition for a new 31-story Hard Rock Hotel planned to rise at 100 E. Ocean Blvd, along the waterfront in Long Beach.
The new hotel i...
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• Apartment Property in L.A.’s Koreatown Sells for $225k/Unit
11/17/23
A 10-unit apartment property located in Los Angeles’ Koreatown submarket traded for $2.25 mil, or $225k/unit. The property is located at 2900 Francis Ave, east of Vermont Ave about midway between Wilshire and Olympic Blvds.
...
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• Premier Workspaces Looks to Acquire Locations as WeWork Exits Leases Amid Bankruptcy
11/17/23
Flexible office space provider Premier Workspaces is actively exploring opportunities to acquire select coworking locations from landlords where WeWork is looking to exit leases due to the company's ongoing bankruptcy proceed...
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• Single-Tenant El Segundo Building Lands $15 Mil Refi
11/16/23
A 51k sf, single-tenant building in El Segundo has been refinanced with a new loan for $15.3 mil. The flex/office property is located at 601 Hawaii St, adjacent to LAX within Los Angeles' South Bay submarket.
The one-story ...
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• Guardian Litigation Group Leases 15k sf of Office Space in Irvine
11/15/23
Guardian Litigation Group LLP has signed a lease for 15.4k sf of office space at Fitch Technology Center in Irvine. Guardian Litigation Group is an Orange County-based multi-jurisdictional law firm providing estate planning, ...
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• Waterfront Redevelopment Opportunity Listed in Downtown Long Beach
11/15/23
In news of a substantial redevelopment opportunity in Long Beach, Golden Shore, a prime 4.73-acre waterfront mixed-use development site in the city’s downtown, has been put on the market. The site is comprised of three parcel...
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• L.A. Medical Center Wins Multi-Million Dollar Tax Dispute with LA County Assessor
11/15/23
A Los Angeles County hospital, committed to serving the city's homeless and disadvantaged communities, has won a significant multi-million dollar tax dispute with the LA County Assessor's office.
In 2019, LA Downtown Medi...
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• Escondido Apartment Comp Works Out to $282k/Unit
11/14/23
In a recent multifamily sales comp out of San Diego County, a five-unit multifamily property in Escondido was purchased by a private investor for $1.41 mil ($282k/unit). Built in 1981, the property sits on 0.17 acres at 419 W...
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• First Retail Tenants at New Hollywood Park Mixed-Use Campus Project Have Opened their Doors
11/14/23
Development of Hollywood Park, a nearly 300-acre, world-class sports and entertainment destination in the city of Inglewood being built by Los Angeles Rams Owner/Chairman E. Stanley Kroenke, is well underway. According to sou...
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• Private Investor Pays $344k/Unit for Apartment Property in L.A.’s Hancock Park
11/13/23
An eight-unit apartment property in Los Angeles’ Hancock Park area sold for $2.75 mil ($344k/unit). The asset traded at a cap rate of 4.30% and a gross rent multiplier of 14.79.
Built in 1938, the value-add property is locat...
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• Owner/User Spends $4.24 Mil on Industrial Building in Vista
11/13/23
A 15k sf, freestanding industrial building in Vista sold for $4.24 mil, or $283/sf. The structure sits on 2.09 acres at 2440 Grand Ave, south of Hwy 78 just off of Sycamore Ave.
The buyer, 2440 Grand LLC, will use the build...
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• West Hollywood Apartment Property Trades at 4.85% Cap Rate
11/10/23
A 12-unit apartment property in the Tri-West submarket of West Hollywood sold for $3.95 mil ($329k/unit). The property, located at 8514 Sherwood Dr, traded at a cap rate is 4.85% and a gross rent multiplier of 14.38.
Built i...
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• Inland Empire Multifamily Works Out to $182k/Unit
11/09/23
In an Inland Empire multifamily comp, Bevia Apartments, a 48-unit property in Moreno Valley, traded for $8.72 mil ($182k/unit). The property is located at 13260 Heacock St, on the southeast corner with Dracaea Ave.
The comm...
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• West Covina Apartment Property Trades for $40 Mil
11/09/23
Sunset Square, a 140-unit multifamily property in West Covina, was acquired by B.A.G. Investments Inc in a $40 mil ($286k/unit) transaction. Built in 1964 and renovated in 2015, the four-building property is located at 745 N....
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• Apartment Property in Old Town Torrance Goes for $437k/Unit
11/09/23
A private, 1031 exchange investor purchased an 11-unit multifamily community in Torrance for $4.81 mil, or $437k/unit.
Located at 1751 Cabrillo Ave in the desirable Old Town Torrance neighborhood, the property sits on over ...
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• Encinitas Office/Retail Building Sells for $1,800/sf
11/09/23
A 1.5k sf, a freestanding mixed-use office/retail building in Encinitas traded in a deal worth $2.725 mil ($1,800/sf). The single-story building sits on 0.13 acres at 264 N Coast Highway 101.
Originally developed in 1936 and...
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