Alex Girda
Alex is a senior editor with Multi-Housing News and Commercial Property Executive who has more than a decade of experience in the industry. Mainly focused on data-driven exploits, he works with Yardi Matrix and CommercialEdge to provide insights into the real estate market.
Flurry of Investment Sales Ends First Quarter
In yet another productive week for San Diego’s real estate market, a number of deals in sectors ranging from industrial to residential have kept up the frantic pace that seems to have taken over investors on both ends of a transaction.
Large Office Transactions in Silicon Valley Reaffirm Market Appeal
The San Francisco Bay Area’s growing appeal is substantially improving the region’s office sector. The fact that the top three tech markets in the country are all located here, San Francisco, The Peninsula and Silicon Valley, is evocative of investor confidence, and as a result, development and asset acquisitions have ramped up during the past few years.
Wateridge Plaza Sale Leads Flurry of Office Trades; AleSmith Brewing Opts for Bigger Home
The local commercial real estate market once again proved its appeal as while a major, $72 million deal was being struck for the Wateridge Plaza in Sorrento Mesa, two smaller office assets also traded hands in the passing week. The two more low-key transactions were completed in the Carmel Mountain Ranch and Solana Beach submarkets.
Development News: Metro-Area Residential Development Projects Budding as Spring Hits Seattle
The Seattle development scene blew up recently with no less than three major moves announced across the city. One of the fastest growing tech markets of the past few years, Seattle is driven by serious activity in the downtown area, and its over-performing South Lake Union neighborhood. Continental Properties, Murray Franklyn and The Onni Group this week either acquired important development sites or announced large projects in the city’s metropolitan area.
One Santa Fe, Arts District’s Crown Jewel is Nearing Completion
One of the projects that marked a new uptick in development for Los Angeles is just months away from coming to the market. The One Santa Fe mixed-use development, featuring the backing of real estate company Canyon Capital Realty Advisors, will remodel an area of downtown L.A. The project, whose initial investor was Goldman Sachs Urban Investment Group, is now three quarters of the way into construction and will add retail, housing and art space to the area located between First and Fourth Streets, along Santa Fe Avenue.
Meridian Acquires Half-Occupied Medical Office Property in Rohnert Park, CA
Northern California’s medical office market continues its appeal as full service real estate developer and owner in the medical office segment, Meridian Property Company, recently announced that it had closed escrow on a property in Rohnert Park, CA. The property offers great opportunity in terms of a new leasing agreement, as a large amount of space was recently vacated at the site. The new owner will look to bring in a new tenant, following a number of improvements that Meridian already has planned for the property. The asset was sold for an undisclosed amount by a partnership between Petaluma-based PB&J Acquisitions, and an institutional investor who acquired the property back in 2012.
Retail Opportunity Investments Buys Poway Center for $40M
A retail center in Poway was the object of a recent commercial transaction when San Diego-based Retail Opportunity Investments Corp. paid a total of $43.9 million for the Creekside Plaza. The transaction was arranged by a team of HFF representatives, who worked on behalf of seller Azure Creekside Corp, a Glendale-based company. Azure is a client of American Realty Advisors, who handled the sale of asset.
Former North Las Vegas City Hall Awaits Next Chapter
The former municipal building has a number of attributes that could count for a large number of investors, and upgrades that could be considered important assets. The former City Hall building is located at the center of the redevelopment district and offers great proximity to dining and transportation. The building is also compliant with the Americans with Disabilities Act, offers air conditioning, high-ceilings and wide hallways. The property also features a glass-enclosed atrium.
Tishman Develops Class A Project in Bulgaria; Candy Crush Saga Developer Relocates, Expands in Romania
Tishman International has completed the development of a 194,000-square-foot Class A project in Bulgaria. Meanwhile in Romania, mobile games developer King will expand its current operations in the city of Bucharest by leasing 18,000 square feet of space in the Opera Center office property.
Vestar Gives The District at Green Valley Ranch in Henderson a $3M Makeover
By Alex Girda, Associate Editor After a $3 million renovation, Vestar Development has re-unveiled the District at Green Valley Ranch, a 384,100-square-foot retail center in Henderson, according to rentv.com. A joint venture of Vestar and Rockwood Capital acquired the property two and a half years ago in a $79 million deal. Part of Green Valley Ranch, […]