West
SRS Opens New San Diego Office
SRS Real Estate Partners has hired Sam Hanna and Bryan Raphaelson, both from Marcus & Millichap’s net lease group, to anchor the new San Diego team. The company also appointed Michael Lagazo, formerly of SVN, as vice president.
SF Shipyard Mixed-Use Development Sets Sail
The San Francisco Shipyard will anchor a wider plan along San Francisco’s southeastern shoreline, which also incorporates Candlestick Park. This will be the Bay Area’s largest commercial development under single ownership.
Revamped Glendora Shopping Center Opens Doors
JLL has secured three leases for owner Champion Glendora, bringing total occupancy to 85 percent, prior to completion of the redevelopment in July.
Downtown Palm Springs Springs Up in the Fall
Grit Development’s revitalization project brings new hotels, retailers and restaurants to the city’s downtown. The grand opening is scheduled for mid-November.
The Inland Empire Expands
Multifamily rent growth in San Bernardino and Riverside counties continued its extremely fast pace over the past year, supported by a healthy job market and moderate inventory expansion, Yardi Matrix data shows.
Caesars Launches $90M Makeover at Flamingo Las Vegas
By the end of 2017, more than half of the company’s guestrooms in Las Vegas will have been upgraded. The renovation is expected to be complete during the second quarter of 2018.
Home2 Suites by Hilton Debuts in The Golden State
The latest addition to Hilton’s All Suites portfolio is the 108-key Home2 Suites by Hilton Livermore, the brand’s first property in the California.
Lincoln Lands $6B Transit Center Management Assignment in SF
The company will lead a team with extensive experience in leasing, curating public spaces, marketing and branding, including Colliers, Biederman Redevelopment Venture and Pearl Media.
Facebook Seattle HQ Commands $286M
Tristar Capital and RFR Holding have partnered to acquire Dexter Station, a 10-story, Class A office building in the city’s South Lake Union neighborhood.
Steady San Diego
Rents were up 4.8 percent in the year ending in March, continuing to outperform the national average, Yardi Matrix data shows. And at 96.8 percent, the metro’s occupancy rate is one of the highest in the country.