West
Kennedy Wilson Buys Anaheim Office Building for $56M
The company bought the 273,000-square-foot asset in Anaheim, Calif. for $56 million–a significant discount to the $71.1 million price the property fetched in 2005.
Golden State’s Optimism Yields Development Plans: Allen Matkins/UCLA Report
Optimism about the CRE sector in California has been strong enough, for long enough, that new development is expected to pick up this year, especially in the industrial sector. The outlook is also brightening for office and multi-family, the latter of which was included in the semiannual report for the first time.
Update: CBRE Global Investors Plans Upgrade of Newly Purchased 400 S. Hope
Trophy office assets in downtown Los Angeles are not easy to come by, but CBRE Global Investors has just gotten its hands on a big one, the 701,500-square-foot tower at 400 S. Hope St. And it has big plans to improve the asset’s double-digit vacancy rate.
CBRE Global Investors Grabs 700 KSF Downtown L.A. Office Tower
Trophy office assets in downtown Los Angeles are not easy to come by, but CBRE Global Investors has just gotten its hands on a big one, the 701,500-square-foot tower at 400 S. Hope St.
Blackstone Sells DiamondRock Hotels, Wins Stake in Hotel Company
DiamondRock Hospitality Co. has agreed to buy four hotels from The Blackstone Group for $495 million in an off-market deal that also calls for Blackstone to take a $75 million stake in DiamondRock.
Terreno Buys Three Silicon Valley Buildings for $33.7M
Terreno Realty Corp., of San Francisco, has acquired three multi-tenant industrial buildings in Sunnyvale, Calif., totaling about 172,000 square feet for a purchase price of approximately $33.7 million.
Weingarten Snaps Up 171KSF Shopping Center on L.A.'s Sunset Strip for $99M
Transactions such as the 8000 Sunset purchase are a major component of Weingarten’s current strategy of enhancing the profile of its portfolio.
Starwood Capital Closes $1B Purchase of Seven Westfield Malls
Starwood Capital Group is now 6.6 million square feet larger. The global private investment firm recently wrapped up its acquisition of a 90 percent stake in seven shopping centers from Sydney, Australia’s Westfield Group in a transaction valued at just over $1 billion. DDR’s Scott Wolstein will spearhead the new division.
The Winners: CPE’s 2012 Distinguished Achievement Awards
CPE is pleased to announce the winners of the second-annual Distinguished Achievement Awards, recognized for their ability to complete deals and projects in the face of last year’s recovering economy.
DivcoWest Flips 354 KSF San Francisco Office Building
DivcoWest has entered into an agreement to sell 1275 Market St., a 354,000-square-foot office building in San Francisco, to Dolby Laboratories Inc. in a transaction valued at $109.8 million. Dolby will occupy the office tower in its entirety.