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September 17, 2024
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SOUTHERN CALIFORNIA HEADLINES

 News

 Etc. Etc...
OC Medical/Office Asset Trades for $191/sf
9/17/24
45k sf Tustin building purchased by a private investor

Optimus Properties Buys Retail Strip Center in Hollywood
9/16/24
20k sf property is part of a center shadow-anchored by former 99 Cents Only store



UCLA Spends $39 Mil on New Apartment Complex in West Los Angeles for Graduate Student Housing
9/16/24
62-unit property will offer shared two- and three-bedroom apartments

Pic N Save Bargains Leases Former 99 Cents Only Store Location in Victorville
9/16/24
Retailer inks 10-year deal for 30k sf space



San Diego Area Biz Park Trades for $11 Mil
9/13/24
Cast Capital Partners pays $219/sf for Four Governor Park

Vernon Industrial Property Sells for Over $61 Mil
9/11/24
Seven-acre site currently houses a 368k sf building

Advanced Real Estate Closes $62 Mil Res Buy in Downtown LA
9/11/24
Firm picks up Canvas LA for $295k/unit

Enso Logistics Leases 45k sf OC Industrial Facility
9/10/24
Fullerton property is owned by LBA Realty

La Terra Development Lands $18 Mil in Construction Money for New Self-Storage Project in the San Fernando Valley
9/10/24
Financing for Raymer Self Storage in Van Nuys was arranged by JLL and funded by Calmwater Capital

BH Properties Buys 400k sf, San Diego-Area Mixed-Use Campus
9/09/24
Acquisition is of Hazard Center in Mission Valley

The Bascom Group Picks Up 249-Unit Bakersfield Multifamily Property
9/04/24
Firm spends $56.6 mil on Old River Place

Beverly Hills Retail Trade Comes in at $3,500/sf
8/30/24
One Cole Group pays $39 mil for 11k sf Beverly Drive Retail Collection

RCB Equities and Real Estate Development Associates Acquire 56-Acre Retail Redevelopment Opportunity in the San Gabriel Valley
8/30/24
Venture’s purchase of asset financed with $115 mil loan provided by Hankey Capital

Four Inland Empire Car Wash Properties Trade in Separate Deals
8/29/24
The assets are located in Apple Valley, Hesperia, Pomona and San Bernardino

RPG and Steel Peak Venture Spends $12 Mil on Central San Diego Flex-Office Property
8/28/24
Asset includes a vacant data center that will be converted in and industrial outdoor storage space

Community Preservation Partners Teams Up with The Hampstead Companies in 144-Unit El Cajon Affordable Housing Buy
8/28/24
Venture to spend $80 mil between acquisition and renovation costs

Stylish Interior Design Installation Completed at Res Community in L.A.’s Filipinotown
8/27/24
Nadia Geller Designs completes art deco project at Cityview’s Belle on Bev property

Dutch Bros Ground Lease in Central CA Sells for $1.45 Mil
8/27/24
800k sf store is located in Porterville

Two San Gabriel Multifamily Properties Sell in Separate Deals Totaling Over $6 Mil
9/09/24
Assets, located in Azusa and Arcadia, have a combined 28 units

Community Preservation Partners to Invest $100 Mil on Purchase and Renovation of Historic Pasadena Affordable Seniors Housing Property
9/05/24
139-unit Green Hotel Apartments was originally constructed in the 1890s

Sharp Capital Spends $10 Mil on Pasadena Office Asset
8/23/24
77k sf building at 299 N. Euclid goes for $129/sf

California State Senate Passes Assembly Bill 2904.
8/22/24
Legislation is a milestone for NAIOP SoCal and the commercial real estate industry

Turner Healthcare Facilities Funds Lands $35 Mil in Financing for Two SoCal Assets
8/22/24
Deals will allow the borrower to convert the Costa Mesa and Chula Vista properties into state-of-the-art medical facilities

Bellflower Apartment Building Sells for $250k/Unit
8/22/24
Eight-unit asset from 1960 offers significant value-add opportunity

Foxx Development Doubles Its Space at Otay Mesa Biz Park with New Lease for 50k sf
8/22/24
Firm to occupy entire 101k sf building at Britannia Tech Park

Three Multifamily Properties in East Los Angeles Fetch a Combined $3.2 Mil
8/21/24
Sales worked out to average price of $335k/unit

Owner/User Pays $227/sf for Irvine Office Asset
8/21/24
57k sf building sells for $13 mil

Chula Vista Retail Property Sells for Over $400/sf
8/20/24
$14.7 mil deal is for Heritage Towne Center

Ednovate Leases 42k sf Property Near Downtown L.A.
8/20/24
Structure to be converted into a charter school

Escondido Industrial Outdoor Storage Asset Gets New Owner in $3.75 Mil Deal
8/20/24
The property consists of an 8k sf structure on 1.69 acres

Riverside Chipotle-Anchored Asset Sells for $927/sf
8/20/24
Three-tenant property is a pad building at Veteran’s Plaza shopping center

South OC Senior Living Community Secures $52 Mil Refi Loan
8/19/24
JLL arranges loan through MidCap Financial on 168-unit Atria Newport Beach

Otay Mesa Build-to-Suit Industrial Building Acquired by Owner/User in $11.4 Mil Deal
8/16/24
EZ Fit Movers to occupy half and to lease remaining space in 44k sf facility

San Diego Area Industrial Property Goes for $282/sf
8/15/24
Two-building asset in the Miramar area sells for over $17 mil

Vista Multifamily Property Fetches $239/sf
8/15/24
Deal is for 59-unit Pine View Apartments

New Creative Office Development in Culver City Lands $21 Mil in Take-Out Money
8/15/24
Gantry arranges new loan on 35k sf project

Los Angeles Industrial Asset Sells for $233/sf
8/14/24
Investor pays $14.1 mil for 60k sf property

OC Multifamily Sale Works Out to $278k/Unit
8/14/24
Purchase is of an eight-unit property in Garden Grove

Intracorp Buys Res Development Site in the City of Orange
8/14/24
Firm to build 49 small lot homes on the land

Dunbar Real Estate Investment Management Spends $10 Mil on Carson Industrial Asset
8/13/24
Deal is for 42k sf of improvements on almost two acres of land

Mattel Spends $59 Mil for El Segundo Office Asset Adjacent to Its Current HQ
8/09/24
Newly renovated Grand + Nash provides 168k sf of creative office space

Two San Diego Development-Ready Sites Trades in Deals Totaling $3.3 Mil
8/07/24
Properties in Barrio Logan and North Park are a combined 10.5k sf in size

Premier Workspaces Opens New Location in L.A.’s Brentwood Glen Area
9/16/24
New offices are near Sunset, Wilshire and the 405 Fwy

BioLife Plasma Services Takes 18.6k sf Space in Victorville
9/13/24
Deal is for former 99 Cent Only Stores store within Victorville Shopping Center

Inland Empire Retail Market Sees Steady Growth Amid Evolving Demographic and Economic Shifts
9/05/24
NAI Capital Commercial shares Q2 2024 update on the sector

Investor Lands $15.5 Mil Loan on North OC Industrial Asset
8/28/24
Gantry arranges new financing on 111k sf Fullerton Brea Business Park

San Diego May be Facing Limited Class A Office Options in the Future
8/28/24
Report from JLL suggests aging inventory and dwindling new development likely to impact the market

Interest in Office Conversions Grows Amid Rising Vacancies and Discounted Sales
8/26/24
Yardi’s research tools show a larger pool of potential conversion prospects than many think

San Diego-Based Discovery Property Group Becomes an Affiliate of SPERRY
8/26/24
Entity is led by Mark Powell and Frank Powell

Ventura County Office Market Sees Signs of Stabilization Despite Challenges
8/18/24
NAI Capital Commercial provides mid-year update on the market

New $54 Mil School Campus Completed in Riverside County
8/12/24
Menifee Union School District’s Sally Buselt Elementary School was built by C.W. Driver Companies

Alicia Bramble, James Daughrity and Odest Riley Jr. Launch CRE Firm Focusing on Local Communities in Need
8/07/24
SoCal Premier Property Management is 100% minority-owned

Opportunities Emerge in L.A. County Retail Market Despite Slow Recovery
7/29/24
NAI Capital Commercial provides update on the market

1,000-Unit Res Portfolio Lands $128 Mil Refinancing
7/23/24
Transaction is on four properties owned by Tower 16 Capital Partners in CA and AZ

Dean Zander Joins Newmark as Vice Chairman
7/05/24
Industry veteran has closed more than $11.9 bil in multifamily deals over three decades

L.A. County Commercial Real Estate Faces Summer Slowdown Amid Rising Vacancies and Mixed Rent Trends
7/05/24
NAI Capital Commercial’s Q2 CRE Market Trends report provides an update on Los Angeles County’s multifamily, retail, office and industrial sectors

AO Wins Multiple Awards at PCBC Gold Nuggets Ceremony
6/21/24
Project winners include Spruce & Red Oak in Rancho Cucamonga, VRV in Stanton and Garden Brook Senior Village in Garden Grove

Commercial Real Estate Financing Briefs
6/20/24
Recent transactions from Marcus & Millichap Capital Corporation, Gantry and Byline Bank

Check Out the Line-Up of CRE Pros Speaking at RENTV's Greater Los Angeles State of the Market Conference on June 27
6/17/24
20 leading commercial real estate experts will discuss L.A.'s office, industrial, retail, multifamily and commercial real estate finance markets at this popular annual industry event.

Los Angeles’ Multifamily Investment Market Picking Up as Investors Look to Move Capital Away from Office and Single-Family Products
6/12/24
Avison Young Offers a quick snapshot of current industry investment sentiment for the region

Building Block Foundation Fund to Hold Annual White Party Charity Fundraiser on August 21, 2024 at Newport Dunes in Newport Beach
6/07/24
CapRock Partners returns as the event’s title sponsor

Orange County Community Housing Corporation Receives $1 Mil Grant from Citi Foundation
5/24/24
Non-profit affordable housing advocate and developer will use money to expand its efforts

June 27 is RENTV's Greater Los Angeles State of the Market Conference
5/22/24
Hear high-powered panels of top local executives and dealmakers discussing the Office, Retail, Industrial, Multifamily and Finance markets throughout the region.

Chicago Title Introduces New National Self-Storage Group
5/14/24
Entity to be led by industry veteran Chuck Mills



 


 
 
 
 



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