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Coworking Grows in San Diego as Biotech VC Stumbles
The shared office sector is booming in the Southern California city, a new report by CBRE suggests, while venture investment in life sciences retreated during the first quarter.
Brixton Capital Sells CA Retail Center for $50M
A foreign investor acquired the 290,000-square-foot asset in the Inland Empire through a 1031 exchange. The deal marks Brixton’s seventh disposition over the last six months.
Industrial Property in CA Trades for Record $214M
Pacific Industrial sold the 1.5 million-square foot property to a life insurance company. The facility is fully leased to LG Electronics and FedEx.
MCR Acquires Las Vegas Hotel
The national hotel owner-operator acquired the 139-key Hilton Garden Inn Las Vegas/Henderson, located 10 minutes from the Las Vegas Strip.
CommonGrounds Inks 46 KSF Lease in LA
The coworking firm has signed a 13-year lease at Lincoln Property Co.’s 915 Wilshire Blvd., in the downtown L.A. financial district.
HFF Secures $17M Refi for Sacramento Facility
The Bendetti Co. received the loan for a 302,400-square-foot industrial asset located in West Sacramento, an emerging industrial market.
Exeter Property Buys Inland Empire Distribution Center for $98M
The company bought the Class A facility in San Bernardino, Calif. Bob’s Discount Furniture is the 800,000-square-foot property’s only tenant.
Bay Area Project Lands $515M in Financing
The U.S. arm of China’s Genzon Investment Group is developing the more than 800,000-square-foot office campus in Burlingame, Calif., which will be occupied by Facebook’s virtual reality firm Oculus. A Cushman & Wakefield team secured the financing package.
Hilton Opens 152-Key Hotel in Seattle
The company’s newest Garden Inn location offers convenient access to Seatac International Airport and downtown Seattle, as well as multiple dining, shopping and entertainment venues.
Office Asset in San Diego’s Tech Hub Trades for $10M
MIG Real Estate sold the three-story property in the Sorrento Mesa neighborhood, where technology and medical companies maintain a strong presence.