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Southern California Real Estate News

Jul 30 CoStar's People of Note (July 25-31)
This week's People of Note includes the following markets: Atlanta, Chicago, National, New York City, Phoenix and Portland. NATIONAL Former Brookfield Pres. Named CFO at General Growth Steven J. Douglas, the former president of Brookfield Properties...
Jul 30 iStar Portfolio Fetches $1.3 Billion
Dividend Capital Total Realty Trust Inc., a Denver-based REIT, acquired a portfolio of 39 office and industrial properties for $1.3 billion from iStar Financial Inc. The portfolio is 99% occupied and consists of single-tenant corporate users. Neither..
Jul 30 Marcus & Millichap Promotes Pontius
ENCINO, CA-The veteran will oversee the firm's commercial leased investment specialty groups, including retail.
Jul 30 Firm Answers FHA Transparency Demand
WESTLAKE VILLAGE, CA-FHA Pros LLC launches an online tool to help find Federal Housing Administration-approved condos by address.
Jul 29 LoopNet Signs CBRE to Long-Term Services Deal
SAN FRANCISCO-The locally based company signs L.A.-based CB Richard Ellis Group to an agreement that gives CBRE access to all of LoopNet's information services.
Jul 29 Retail Deal Closes Despite Tenant Exits
TUSTIN, CA-Four of the center's six tenants vacate after the buyer arranges initial loan approval, but three new tenants sign leases before the close of escrow.
Jul 29 Standard Pacific's Home Sales Up 18% in Q2
IRVINE, CA-Standard Pacific Corp., a home builder based in Irvine, has reported a profit of $10.7 million in Q2 2010 compared to a loss of $23.1 million in Q2 2009.
Jul 28 Ark To Manage 424,884-SF Center
LAKE ELSINORE, CA-Lake Elsinore MarketPlace is a class A retail property anchored by Lowes, Costco, PetSmart, Staples and Bed, Bath & Beyond, and is currently 99% occupied.
Jul 28 Multifamily Projects Span the Spectrum
LOS ANGELES-Two new projects, one just opening and one getting under way, span the spectrum from affordable housing for the homeless to luxury units renting for $2,200 to $3,400.
Jul 28 Jamboree Wins Approval for 70 Affordable Units
BUENA PARK, CA-The city council here grants approval for a 70-unit apartment complex to be developed by affordable housing specialist Jamboree Housing Corp.
Jul 28 REO Warehouse Trades for $98 PSF
WALNUT, CA-An owner-user acquires the property from a Los Angeles-based bank in a deal negotiated by Los Angeles-based Pegasus Investments.
Jul 28 Anaheim Industrial Nets $1.9M
Hardin Oldsmobile sold the industrial building at 11315 S Claudina St. in Anaheim, CA, to private buyers for $1.89 million, or approximately $80 per square foot. The 23,200-square-foot industrial building was constructed in 1961. It is located near....
Jul 28 JLL Promotes 3 in L.A.
Jones Lang LaSalle promoted Aaron Ahlburn, John Strauss and Troy Freeman in its Los Angeles area offices. Ahlburn, based in El Segundo, specializes in the research of industrial properties and analyzes economic trends in the distribution, warehouse....
Jul 28 Red Robin Land Sells for $2.3M
A private investor acquired the fee-simple ownership in the land leased to Red Robin at 18999 Bear Valley Road in Apple Valley, CA, for $2.28 million. Red Robin is located at 18999 Bear Valley Road in the Jess Ranch Marketplace, Phase III. The shoppi..
Jul 28 Irvine Flex Changes Hands for $2.1M
HPV Technologies Inc. purchased 17752 Fitch in Irvine, CA, from a private seller for $2.1 million, or about $98 per square foot. Escrow lasted approximately 30 days. The 21,463-square-foot flex building was built in 1987. The buyer will occupy the...
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National Real Estate News

Aug 1 Brandywine Looking to Buy, Sell Assets
RADNOR, PA-Management also predicts that traffic will pick up the metro Philadelphia area by the end of the year.
Aug 1 Centro Extends $2.7B of US Loans
NEW YORK CITY-A package of term loans and a one-year extension account for most of $3.2 billion in debt due to mature at year’s end.
Aug 1 B.F Saul Eyes Hotel for Wheaton Development 
WHEATON, MD-Although the development concept must still be put together, B.F. Saul is considering adding a hotel to the 8.2-acre plan--the submarket’s first. 
Aug 1 Mack-Cali’s Portfolio Remains Steady in Q2
EDISON, NJ-The locally based REIT’s portfolio was 88.9% leased at the end of the second quarter, as compared to 88.8% leased at the close of Q1.
Aug 1 Private Investor Scoops Up CVS Pharmacy
HAVERHILL, MA-Single-tenant, net-leased properties have become popular as secure investments for capital, notes the broker.
Aug 1 Retail Deal Closes Despite Tenant Exits
TUSTIN, CA-Four of the center's six tenants vacate after the buyer arranges initial loan approval, but three new tenants sign leases before the close of escrow.
Aug 1 LoopNet Signs CBRE to Long-Term Services Deal
SAN FRANCISCO-The locally based company signs L.A.-based CB Richard Ellis Group to an agreement that gives CBRE access to all of LoopNet's information services.
Aug 1 Firm Answers FHA Transparency Demand
WESTLAKE VILLAGE, CA-FHA Pros LLC launches an online tool to help find Federal Housing Administration-approved condos by address.
Aug 1 Marcus & Millichap Promotes Pontius
ENCINO, CA-The veteran will oversee the firm’s commercial leased investment specialty groups, including retail.
Aug 1 Medical Office Posts Positive Absorption in Q2
HOUSTON-Grubb & Ellis says the local medical office market absorbed another 150,000 square feet in the second quarter, driving the tally to almost 360,000 square feet for the year.
Aug 1 KBS Closes on $655M Tower Purchase
CHICAGO-Hines has sold its 60-story 300 N. LaSalle building in the River North downtown submarket to this Newport Beach, CA-based REIT. The property sold for almost $504 per square foot, a city record.
Aug 1 RioCan Posts Positive Results, Plans Purchases
TORONTO-Canada’s largest REIT saw a boost to its FFO, earnings and same store sales in its second quarter results, released Thursday.
Aug 1 M&M Arranges $10M in Refinancing for Apt.
MIAMI-The 120-unit apartment is in the Coral Way corridor, a family-oriented neighborhood with single family homes and condominiums.
Aug 1 ACG Equities Buys Vinings Main for $24M
ATLANTA-The mixed-use residential and commercial condominium is the first acquisition using ACG's $150-million equity fund.
Aug 1 Blue Cross Takes Two Towers at RenCen
DETROIT-The insurance firm plans to move 3,000 employees from the suburbs to the iconic GM headquarters office building downtown. Plus more Midwest news.
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Copyright ©2008 Azur, Inc. The information above has been obtained from sources believed reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness.