Anca Gagiuc
Anca Gagiuc brings more than a decade of experience within the real estate industry. She is a senior associate editor with Commercial Property Executive and Multi-Housing News who also writes monthly multifamily reports at Yardi Matrix. Contact Anca at anca.gagiuc@cpe-mhn.com
Dunkin’ Donuts to Open 16 Stores in Salt Lake City by 2018
By Alex Girda, Associate Editor Sixteen Dunkin’ Donuts locations are on their way to Salt Lake City. As part of a strategy to expand the brand in the West, an affiliate of Sizzling Platter L.L.C. plans to open the first location next year, followed by a phased rollout through 2018. In February, the Murray-based firm’s […]
Historic Celebrity Magnet ‘El Royale’ Trades Hands for $29.5M
Located at 450 North Rossmore Avenue, the building features 56 luxury units, with an impressive per-rate unit of $527,000. The property offers an expansive overlook with views that include Hancock Park and the nearby Wilshire Country Club. The average apartment is about 1,400 square feet. Forty-six of the units are rent-controlled, while the remaining ten are exempt due to their luxury residence designation. According to Ron Harris, one of the brokers in charge of the transaction, “El Royale is one of the most iconic and celebrated apartment communities in all of Los Angeles County”.
Government Building LEEDs Through Example
Built by a team comprising design company ZGF Architects and developer Sellen Construction using funds provided through the Recovery Act, the building ushers in a new era of government properties. The $72 million office building offering up 209,000 square feet of space seems on track to achieve an Energy Star efficiency score of 100, a distinction only 1 percent of comparable U.S. buildings can claim. The building is also set to be awarded Gold certification through the U.S. Green Building Council’s Leadership in Energy and Environmental Design program.
School District Sells Surplus Sites; Retail Center Fetches $27M
However, two board members blocked the sale of the Mission Beach site on the ground that finding a development partner would be a better option for the district than selling the property. The board ordered district staff to find an alternative site to sell from among seven designated for disposition.
Home Prices Continue 8-Month Rebound: Realtors Report
Continuing its turnaround, Las Vegas’ housing market has recorded eight consecutive months of increasing prices, a trend fueled mainly by diminishing supply and a record number of short sales, the Greater Las Vegas Association of Realtors reported..
Warriors Arena Gets Development Team as Architect Unveils New Design
By Alex Girda, Associate Editor A new hurdle was recently cleared in the process of delivering a new sports arena to the city of San Francisco, as the project finally has a construction deal. The San Francisco Business Times reports that companies Hunt Construction Group and Webcor have been awarded the coveted contract. The developing […]
Amazon.com Set to Break Records with Purchase of HQ from Vulcan
In a long-anticipated deal, Amazon.com, the world’s largest online retailer, finally acquired its 11-building headquarters in Seattle from owner Vulcan Real Estate. The Paul Allen-controlled investment company received a whopping $1.2 billion for the property, placing the transaction in a single-horse race for the title of the year’s largest U.S. office transaction.
Multifamily Portfolio in Lancaster is Acquired by MG Property Group
A Lancaster, CA multifamily portfolio was recently acquired by real estate company MG Properties Group from an unnamed seller. The San Diego-based company paid approximately 91.75 million for the four residential communities. The properties comprising the portfolio are Cordova Park, Granada Villas, Sienna Heights and Woodlands West, all of them located in the city of Lancaster.
Telecom’s Planned Data Center Joins Growing Local Pipeline
By Alex Girda, Associate Editor In the competition for data center development, Nevada has often come in second to Texas and other competitors. But the Silver State’s reputation as an also-ran in this field may be changing. Telecom Real Estate Services unveiled plans for the Block Data Center, a project that is set to offer […]
Sunnyvale Set to Steal Tenants from Neighboring Submarkets; Legacy Pounces on Development Opportunity
By Alex Girda, Associate Editor The improving office market in Silicon Valley is making its effects known, as landlords and developers scramble to get as much space as possible while the spike lasts. Yet while the area is set to continue to generate interest due to the presence of giants such as Facebook and Google, […]