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Arden Realty Sells 3 Burbank Office Assets for $95M
From: www.costar.com
"Arden Realty Inc. sold three office properties in Burbank, CA, to Kennedy-Wilson Properties Ltd. for $95.1 million or $291.25 per square foot.
The assets total 326,522 square feet and are at 303 N. Glenoaks Blvd., 333 N. Glenoaks Blvd. and 300 E. Magnolia..."
Strom Joins Ramsey-Shilling
From: www.costar.com
"Howard Strom, M.D., joined Ramsey-Shilling Commercial Real Estate Services as a commercial real estate broker. Strom was a corporate medical director for 20 years with ARCO (Atlantic Richfield Co.) and also headed a medical consulting service prior to..."
CoStar's People of Note for Friday
From: www.costar.com
"Time to update those contact managers with CoStar's People of Note for Friday, April 18, delivering news of recent promotions and new hires at the following companies: CB Richard Ellis, Cassidy & Pinkard Colliers, Colliers Meredith & Grew, Eastern Consolidated..."
Weingarten Sells Ralph's Center for $17.6 Million
From: www.costar.com
"Seven Forty Management Inc., taking title as Arvel Redondo LLC, acquired the Ralph's Center at 1413 Hawthorne Blvd. in Redondo Beach from Weingarten Realty Investors for $17.6 million, or about $252.50 per square foot.
The property consists of 69,649..."
Hill Plaza in Pasadena Sells for Nearly $358 PSF
From: www.costar.com
"Hill Center LLC purchased the 8,390-square-foot retail center known as Hill Plaza, at 270-290 N. Hill Ave. in Pasadena, CA, from Kinh Van Do and Tinh Thi Le. Total consideration for the sale was $3 million, approximately $357.50 per square foot.
Hill..."
Watch List (April 6-12): The Vehicle that Caused the Wreck
From: www.costar.com
"In this week s issue: reforming the mortgage securities market to prevent another wreck; what's good for single-family ain't necessarily good for multifamily; Scott Rechler's 2008 suburban New York outlook; roadside blues for truck stops; western lumber..."
Facility Closures and Layoffs (April 6-12)
From: www.costar.com
"This report is excerpted from Watch List, a weekly column of market conditions, company expansions and contractions and real estate investment opportunities.
Total nonfarm payroll employment continued to trend down in March (-80,000), and has fallen..."
Under Contract (April 6-12)
From: www.costar.com
"Pier 1 Imports Inc. agreed to sell its corporate headquarters in Fort Worth, TX, to a subsidiary of Chesapeake Energy Corp. The company has maintained its headquarters in the building since completion of construction in 2004. The company plans to continue..."
Business Expansions, Relocations (April 6-12)
From: www.costar.com
"AMEC Paragon Inc. leased the entire third floor of Sam Houston Crossing 1 (54,755 square feet) at 10343 Sam Houston Parkway, near Highway 249 in Houston, TX. This office is expansion space for an additional 300 employees. The firm's headquarters is in..."
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..."
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