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Friday, Oct 7, 2022

Regional Report



Multifamily Deal: Grupe Properties Inc., a unit of Stockton’s Grupe Co., has acquired a Long Beach apartment property for $2.2 million from private investor Donna Runyon. The 10,000-square foot building is at 1347 E. Third St.



More in Store: Provision Interactive Technologies Inc., a Chatsworth maker of 3-D interactive displays, has announced that it has successfully installed 200 kiosks for one of the largest drugstore chains in the nation. The kiosks were installed in the New York and L.A. areas and will showcase 3-D videos as well as loyalty card promotions. Provision did not disclose the name of the client.



Mixed-Use Property: Glendale’s American Realty Advisors has acquired a Santa Monica mixed-use property from Criterion Santa Monica, a joint venture of Santa Monica’s Metropolitan Pacific Capital and a fund managed by downtown L.A.’s Clarion Partners. The property, Criterion on the Promenade, has 30,046 square feet of retail, 22,935 square feet of office as well as 32 studio and one-bedroom apartments. Sales price was not disclosed.

Shot in Arm: Santa Monica’s MD Insider, a doctor analytics startup, has raised $12 million in a Series B round led by Summation Health Ventures of Long Beach. Pitching itself as baseball statistics for doctors, MD Insider uses medical data to determine doctor performance on specific medical procedures. The firm said it intends to use the money to hire additional sales and marketing staff to push customer acquisition.



Back on Track: Pasadena’s Jacobs Engineering Group Inc. has announced its reappointment as sole supplier of professional services to Highways England Historical Railways Estate for a term of up to five years. Highways England is responsible for managing a portfolio of 3,400 structures including legacy bridges, viaducts, tunnels and similar properties associated with closed railway lines throughout the United Kingdom.



Checking In: Robert Green Co., an Encinitas developer focused on hotel and resort projects, has broken ground on a new hotel project in Hollywood. The 16-floor Argyle Hotel, at 1800 N. Argyle Ave., will total roughly 350,000 square feet, with 210 guest rooms as well as a restaurant and meeting-banquet facilities.


Industrial Trio: Parkman Holdings has purchased three industrial buildings in Vernon for $22 million from Horowitz Group. The properties, at 3155-3201 Bandini Blvd., total 242,589 square feet over 9.9 acres. The buildings were 20 percent leased at the time of sale.


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