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Wilshire Spalding Building Sells for $55 Mil.
From: www.costar.com
"The Lefrak Organization has purchased 120 S. Spalding Drive in Beverly Hills, CA. The Class A medical/office building sold for $55 million, or approximately $869 per square foot. The property was 100% leased at the time of sale, with a reported cap rate..."
Granada Hills Retail Earns $372/SF
From: www.costar.com
"Investors, Mutih and Huda Abdulhai, purchased the strip center at 16156 San Fernando Mission Blvd. in Granada Hills, CA, for $3.8 million, or approximately $372 per square foot. The Fogel Family sold this 10,207-square-foot retail center with a cap rate..."
CoStar's Retail News Roundup: Apr. 6 to 12, 2008
From: www.costar.com
"This week in the Retail Roundup, CoStar reports on expansions or new concepts at Best Buy, CarMax, Talbot's, Jamba Juice, UFood, Lexus and Whole Foods; new retail developments in CO, NJ, OH, GA, and TX; acquisition, merger, loan or sale activity at Triple..."
Ethan Penner Joins CB Richard Ellis Investors
From: www.costar.com
"CB Richard Ellis Investors hired Ethan Penner as executive managing director and member of the executive committee. Penner joins the firm from Pacific Star Capital.
Penner said of his new position, "The current market environment has created opportunity..."
Plaza San Gabriel Sold
From: www.costar.com
"Walter and Connie Ching along with Albert Ching purchased 704-712 W Las Tunas Dr. in San Gabriel for $7.7 million. They purchased the property from K&J Mission LLC. The property sold at the close of a 40-day escrow period.
Plaza San Gabriel is comprised..."
Downey Car Dealership Sells for $6 Mil.
From: www.costar.com
"Piercy Automotive Group sold the property at 7550 Firestone Blvd. in Downey, CA, to the Adkins Family Trust. Total consideration for the sale was nearly $6 million, or about $354 per square foot. The property is a one-story retail building consisting..."
CoStar's Daily Deals of Note for Monday
From: www.costar.com
"LONG ISLAND; NORTHERN NEW JERSEY; WASHINGTON, DC
ARC Completes $212M Divestiture of Net Leased Asset Trust
by Sasha Pardy
Clifton, NJ-based ARC Properties, an owner/developer focused on the New York to Washington D.C. corridor, completed the sale..."
Commerce Pointe Bldg. 12 Sells for $6.67 Mil.
From: www.costar.com
"King Brothers Industries acquired 29101 The Old Road - Bldg 12 at Commerce Pointe for $6.67 million, or about $89 per square foot.
The property consists of a 75,055-square-foot industrial building, of which 6,246 square feet is office space. Some of..."
Reading Completes $69.3M Acquisition of Leasehold Interests in 15 Movie Theatres
From: www.costar.com
"Los Angeles, CA-based Reading International, (AMEX:RDI) recently closed on the acquisition of leasehold interests in 15 cinemas, containing 181 screens, from West Hollywood, CA-based Pacific Theatres Corp. for $69.3 million. Reading is an owner, operator..."
Nolaci Realty Acquires Culver City Office for $29.5 Mil.
From: www.costar.com
"Pacifica Real Estate Group and BP Commerce LLC sold The Promontory, a 111,067-square-foot office building, to Nolaci Realty Inc. NV for $29.5 million, or $265.61 per square foot. This property is at 5901 Green Valley Circle in Culver City.
The property..."
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