Los Angeles
Deloitte Signs 113 KSF Lease in Iconic LA Tower
Deloitte has signed a long-term lease with Brookfield Office Properties for rent of 113,000 square feet in the iconic Gas Co. Tower in downtown Los Angeles.
Retail Opportunity Investments Corp. Announces Purchase of Fallbrook Shopping Center for $210 Million
Retail Opportunity Investments Corp. recently made the announcement that it is set to become the new owner of a major retail center in the San Fernando Valley. The company has entered into a binding contract for the acquisition of the Fallbrook Shopping Center, for a purchase fee of $210 million in cash. The transaction will reportedly be closed by the end of this quarter.
Marcus & Millichap Arranges Sale of Two Playa Vista Retail Properties for $16.9 Million
Marcus & Millichap’s Encino office recently arranged the sale of a two-property retail portfolio for a total of approximately $16.9 million. The two shopping spots are located in the L.A. submarket of Playa Vista. The acquisition was arranged by Marcus & Millichap, Vice President investments, Brandon Michaels and Janette Monfared, an associate with the Encino office. The seller is an affiliate of Brookfield Residential.
DivcoWest Buys 483 KSF Class A Office Complex in El Segundo, Calif.
DivcoWest has completed the purchase of Continental Grand Plaza, a two-building, 483,000-square-foot Class A office campus at 300-400 Continental Blvd. in El Segundo, Calif.
The Wolff Company Develops Mixed-Use Community in L.A.’s South Park District
A new community is nearing its official groundbreaking, with The Wolff Company currently set to start work on its latest mixed-use project. Poised to take shape in downtown Los Angeles, the 12th & Olive development is a $54 million project on which developer The Wolff Company is working with TCA Architects and Bernards.
Colliers Arranges Land Deal for The Olson Company, New Residential Development Set-up in Temple City
A parcel of land that formerly housed in industrial facility in Temple City in the San Gabriel Valley is set to be transformed into a new housing community by Orange County-based The Olson Company. The home builder recently acquired the land parcel with the help of real estate firm Colliers International.
Mack Urban JV Breaks Ground on $50M M-U Project in Pasadena
Union Village, a new 118-unit luxury mixed-use residential project in Pasadena, has just gotten underway with a recent groundbreaking.
West Los Angeles Office Market Catches Attention of Sunrise Real Estate Group
A West LA office building was recently acquired for a reported fee of approximately $39 million. The off-market transaction was completed by a partnership consisting of Sunrise Real Estate Group with Robhana Group and 4M Investment Group who picked up the property from seller TPMC Realty Corp. Newmark Grubb Knight Frank representative Al Barasani handled the buyer’s end of the deal, while the seller represented itself. IDB Bank provided financing for the deal. The office asset last traded hands in 2008.
Local Construct Breaks Ground on Innovative Housing Concept in Echo Park
A new housing development project in Los Angeles’ Echo Park recently held a ground-breaking event, celebrating the innovative concept tackled by the project. Los Angeles-based Local Construct has started work on its Blackbirds micro-neighborhood. The community will be located on a site that formerly housed five rundown cottages in Echo Park.
George Smith Partners Arranges $51M Bridge Loan for Renovation of M-U Property in Newport Beach, Calif.
The Lido Marina Village, a mixed-use property in Newport Beach, Calif., is ready for renovation now that a $51.4 million loan has been arranged, courtesy of George Smith Partners.