Recent and archived news stories on: Commercial real estate, residential real estate, housing, architecture, engineering, real estate brokers, construction, property development, property management

South Bay Industrial Space Sells for $103 Million

Chicago-based Bridge Development Partners has sold to a Morgan Stanley fund the 512,000-square-foot industrial space, Bridge Point South Bay, at 20333 Normandie Ave. near Torrance for roughly $103 million, or about $200 per square foot, according to sources.

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Carson Industrial Properties Land Two Large Leases

The city of Carson continues to attract tenants in Los Angeles County’s tight industrial real estate market, as plastic tube manufacturer CCL Tube Inc. and logistics company Jerich USA, signed significant leases in the city, broker Cushman & Wakefield announced.

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Mall of America Owner Looking to Buy Former Rocketdyne Site

The Canadian owner of the Mall of America is negotiating to buy one of the largest redevelopment sites in Los Angeles: the former rocket-engine manufacturing site of Aerojet Rocketdyne, according to CoStar Group.

William Carey 15-Acre Campus in Pasadena Acquired by Swiss Company

EF Education First, a Switzerland-based international education company, has agreed to purchase the nearly 15-acre campus of William Carey International University in Pasadena. Terms were not disclosed.

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Providence St. Joseph Leases 26K SF in Ladera Heights

Providence St. Joseph Health has negotiated a lease for nearly 26,000 square feet at the Wateridge campus at 5100 Goldleaf Circle in Los Angeles' Ladera Heights neighborhood, NAI Capital Inc. announced.

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Infinity West Apartments in Hollywood Sold for $23.7 Million

Culver City-based real estate company Goldrich Kest purchased Infinity West, a 43-unit apartment complex at 7045-7051 Lanewood Ave. in Hollywood, for $23.7 million, or about $550,000 per unit, from Bolour Associates of Beverly Hills.

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Miramar Capital Spends $19.1M for Torrance Office Building

Santa Monica-based real estate investment firm Miramar Capital has purchased a three-story, 77,200-square-foot office building at 20285 S. Western Ave. in Torrance for $19.1 million, or $247 per square foot, from property firm Mar Ventures Inc. of El Segundo.

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New L.A. Times Location in El Segundo Revealed

The permanent home of the Los Angeles Times will be in El Segundo at 2300 E. Imperial Highway.

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Millennium Submits Plans for $1B Hollywood Center

Real estate developer Millennium Partners has submitted to the City of Los Angeles plans for Hollywood Center, a $1 billion project comprised of 1,005-units in two high rises above retail and courtyards.

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Compton Retail Property Acquired for $85.5 Million

New York-based Clarion Partners acquired Compton’s 33-acre Gateway Towne Center for $85.8 million, or about $372 per square foot, from Prism Realty Corp. of Costa Mesa, according to CoStar Group Inc.

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Larchmont Car Repair Lot Sells for $7M, Plans Call for Mixed Use Development

Westside-based investment firm Crescent Capital Partners has purchased for $7 million, or $373 per square foot, a 19,000-square-foot car repair lot at 5570 Melrose Ave. in the Larchmont neighborhood and plans to turn it into a 52-unit mixed-use apartment complex, according to CBRE Group Inc.

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Three Parcels in Downtown Sell for $134 Million

Beverly Hills-based real estate investor ESI Ventures has purchased three parcels of property totaling 276,000 square feet in downtown Los Angeles for roughly $134 million in order to build a mixed-use creative office campus in the Fashion District, the company announced.

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Melrose Avenue Retail Property Sells for $22.9 Million

A joint venture of Guggenheim Real Estate and L3 Capital, a Chicago-based investment firm, has bought an 11,300-square-foot retail property at 8420-8430 Melrose Ave. in West Hollywood for $22.9 million from American Commercial Equities, a Malibu-based limited liability company.

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Netmarble Games Takes 14K SF in DTLA

The U.S. division of fast-growing South Korean mobile gaming company Netmarble Games Corp. is moving to 600 Wilshire Blvd in downtown Los Angeles in a coup for the neighborhood and for landlord Onni Group.

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Convene Opens Two Locations Downtown

Convene, a New York-based workplace hospitality provider, has partnered with Brookfield Office Properties to open its first two Los Angeles locations, both downtown, at 333 S. Grand Ave. and 777 S. Figueroa St.

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