West
Transwestern Inks 21K SF Lease at LA’s AT&T Center
The Los Angeles office of real estate and development firm Transwestern said Thursday that it has arranged a new long-term lease with Ampco System Parking for 21,031 square feet of space in the AT&T Center, located at 1150 South Olive Street in the City of Angels’ downtown area.
Kearny, Morgan Stanley Completes $92M Sale of Kearny South Bay Business Park
Kearny Real Estate on Thursday announced completion of the $92 million sale of Kearny South Bay Business Park, the site of the former U.S. headquarters for Nissan North America. The deal was completed in partnership with Morgan Stanley Real Estate Investing.
Bankrupt $3B Fontainebleau Las Vegas Project Gets Scooped Up by Icahn for $150M
Despite the fact that the gaming industry in Las Vegas is struggling, Icahn Enterprises L.P.’s acquisition of the Fontainebleau casino and resort project is still quite a deal.
Harrah’s Steps in as New Owner of Planet Hollywood Las Vegas
Planet Hollywood Resort & Casino has come under new ownership now that a subsidiary of Harrah’s Entertainment Inc. has taken over the reins. PHW Las Vegas L.L.C. received approval from the Nevada Gaming Commission to officially own and manage the prominently located Las Vegas Strip property, taking it–and its remaining debt of $554 million–off the hands of previous owners BH/RE L.L.C.
Hoffman Land Index: Land Values on Rise in Southern California
Southern California real estate players may be encouraged by news from the land brokerage The Hoffman Company, whose third annual Hoffman Land Index reveals that land values in many areas have doubled or tripled in 2009 as compared to 2008.
Marcus & Millichap Lists Southern California Mobile Home Park for $44.5M
A tumultuous relationship between the city of Poway, Calif., and the mobile home park it owns may come to an end should the park sell – particularly if it sells to its residents.
NHP Acquires Southern California Medical Office Building for $74M
Nationwide Health Properties Inc. (NHP) has recouped a mortgage loan on the Pomerado Outpatient Pavilion in Poway, Calif., with the acquisition of the property from Pacific Medical Buildings L.L.C (PacMed) in a transaction valued at $74 million.
Calpine to Build First U.S. Power Plant with Emissions Limits
The power company Calpine said Thursday that it has gotten the go-ahead to build the country’s first plant with a federal limit on greenhouse gas emissions.
Voters Reject Alameda Point Development Project
Voters in the San Francisco Bay Area city of Alameda have soundly voted down Measure B, which would have provided for development on Alameda Point, a former Naval air station.
SF’s Transbay Terminal to Benefit from Influx of Funds
Two different streams of funds will provide for reconstruction of San Francisco’s Transbay Terminal: $400M in stimulus cash and a $171M loan from the Transportation Infrastructure Finance and Innovation Act.