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May 27, 2024
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SOUTHERN CALIFORNIA NEWS
Archive
1  | 2  | 3  | 4  |  5  | 6  | 7  | 8  | 9  | 10  ...  658
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• Bolour Associates Inc to Build 30-Unit Res Project in West Los Angeles
2/07/24
Bolour Associates Inc has secured the entitlements to build a new five-story, for-rent residential apartment building in the heart of West Los Angeles. The building will sit at 2424 S. Veteran Ave. in Los Angeles, on the sout...
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• Phase One Completed at New Los Angeles Affordable Housing Project
2/07/24
Phase One of Rose Hill Courts, an 89-unit affordable housing project in northeast Los Angeles, has been completed. The LEED-certified project, located at 4466 E. Florizel St, is being built by R.D. Olson Construction on behal...
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• Chula Vista Multifamily Property Trades for $116 Mil
2/06/24
Pulse Millenia, a 273-unit, garden-style multi-housing community located in the desirable Otay Ranch region of Chula Vista, traded in a $116 mil ($425k/unit) transaction. The purchase was funded in part by a $71.8 mil acquisi...
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• Single-Tenant Starbucks Near USC in L.A. Sells for $2,177/sf
2/06/24
A single-tenant Starbucks café with a drive-thru in Los Angeles traded for $3.25 mil, in a deal that worked out to a 4.57% cap rate. The property is located approximately one mile from the University of Southern California. F...
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• Palm Desert Apartment Property Sells for $220k/Unit
2/06/24
An unnamed private investor paid $2.2 mil for a 10-unit ($220k/unit) multifamily property in Palm Desert. This was the first time the property had traded in over 20 years. The apartment community is located at 73435 San Gorg...
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• Howard Schwimmer to Be Inducted into NAIOP SoCal’s Hall of Fame
2/05/24
Rexford Industrial Co-CEO and Director, Howard Schwimmer will be inducted into NAIOP SoCal’s Hall of Fame as part of its 2024 Industry Awards Gala. Now in its third year, the NAIOP SoCal Awards Gala recognizes excellence acro...
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• 1 msf Inland Empire Industrial Outdoor Storage Portfolio Trades
2/05/24
A three-property, 1 msf industrial outdoor storage (“IOS”) portfolio in CA traded hands in a recent transaction. The buyer benefits from the opportunity to acquire immediate scale in the emerging IOS/ISF sub-asset class, whic...
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• San Diego Flex Biz Park Sells for $45 Mil
2/05/24
Sorrento View Business Park, a seven-building, multi-tenant, Class A, mixed-use/flex business park in the central San Diego location of Sorrento Mesa, sold for $45 mil. The 139.3k sf ($323/sf) property is located at 5945-5965...
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• Investor Pays $539/sf for Irvine Office Property
2/05/24
A 20.8k sf office building in Irvine sold for $11.2 mil, or $539/sf. From what we understand, this is the highest price per square foot for Irvine office space over 20k sf since 2019. Located at 2485 McCabe Way, the two-stor...
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• Riverside Res Comp Works Out to $150k/Unit
2/02/24
In a recent multifamily comp out of the Inland Empire, Corwin Apartments, a 19-unit asset in Riverside, traded for $2.85 mil ($150k/unit). Built in 1964, the property is located at 5755-5780 Corwin Lane. It features one-bed...
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• DSW Leases 15k sf Space at Venice Retail Property
2/02/24
DSW Inc leased a 15k sf space at Lincoln & Rose Shopping Center, a 75k sf retail center in Venice. The tenant will be occupying what was a 99 Cents Only space in the Whole Foods-anchored shopping center, located at 201 Lincol...
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• L.A. Outdoor Storage Property Sells for $2.68 Mil
2/01/24
Cypress Equity Investments paid $2.68 mil for a 1.41-acre industrial outdoor storage (IOS) property in Los Angeles. The property, located at 943 N. Marianna Ave, was acquired for the future development of a 90k sf self-storag...
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• Exchange Investor Sells Two Properties and Buys another in Three San Gabriel Valley Deals Totaling $37 Mil
2/01/24
A private investment entity, 2000 Gold Limited Partnership, completed a 1031 exchange that entailed the sale of two buildings and the acquisition of a third property, all in the San Gabriel Valley. The transactions totaled $3...
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• Rio Properties Transitions Five-Property SoCal Multifamily Portfolio as Part of a More Tax Efficient Investment Strategy
1/31/24
Rio Properties, a 25-year CA-based investor, transitioned a five-property, L.A.-area multifamily portfolio into a more tax-efficient investment strategy. The assets are located in Venice, Oakland, Los Angeles, and Marina Del ...
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• Mercy Housing and TCA Architects Finish Work on San Fernando Valley Supportive Housing Project for Seniors
1/30/24
Construction has been completed on Burbank Boulevard Senior Housing, a 55-unit, permanent supportive housing development for seniors ages 55 years and older. The project, located at 14536 Burbank Blvd, just west of Van Nuys B...
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• OC Res Development Lands $128 Mil in Construction to Permanent Financing
1/29/24
Legado Companies has obtained $128 mil of construction-to-permanent financing in three tranches, from three separate lenders, for the development of the Legado at the Met multifamily project in Santa Ana. The 268-unit, mark...
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• New $156 Mil Rosecrans Avenue Bridge Opens Carrying Vehicles Over Railway in Santa Fe Springs
1/29/24
The Los Angeles County Metropolitan Transportation Authority (Metro), in partnership with various local, state and federal agencies, has opened the new Rosecrans Avenue Bridge in Santa Fe Springs. The bridge, which is part of...
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• Little Buddy Toys Leases 95k sf Industrial Facility in Anaheim
1/29/24
Little Buddy Toys, an OC-based toy distribution company, has inked a lease for a 95.2k sf distribution center in Anaheim. The space is located at 270 East Palais Rd, ease of I-5 and south of Ball Rd. The new Class A industri...
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• California Commercial Investment Group Buys 19 Acres in Woodland Hills for Development of a Senior Living Facility
1/26/24
California Commercial Investment Group has acquired a 19-acre site adjacent to the iconic Motion Picture & Television Fund campus in Woodland Hills for $30 mil. California Commercial Investment Group will develop a luxury se...
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• Work Finished on $2 Mil Renovation of Scripps Ranch Office Property
1/26/24
Sason has completed a $2 mil renovation and repositioning at Canvas on Willow, a three-story office building totaling 121.4k sf in San Diego’s Scripps Ranch submarket. The property has also secured four new leases totaling ne...
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