LOS ANGELES-The center, known as Desert Gateway Shopping Center, will rise in Palm Springs. Featuring a desert theme and upscale motif, it will be anchored by a 148,759-sf Wal-Mart and a 153,000-sf Sam's Club.
LAKE FOREST, CA-The company has signed a lease for a 21,315-sf industrial building in Lake Forest. It is the latest in a string of Orange County transactions involving mid-sized and smaller industrial properties. Earlier this week, three Orange County industrial properties changed hands for a combined $2.3 million, as reported by Globest.com.
LOS ANGELES-According to a recent report by NAI Capital Commercial, rents are climbing in the Los Angeles Basin's office sector, even as vacancy rates continue to rise. The average rental rate for class A space is currently $2.27 per sf compared to $2.16 at year-end 2000.
LOS ANGELES-Known as Pacific Palms Conference Resort, the newly renovated property of Majoestic Realty is being touted as the only first class business-resort facility within 30 minutes of five Los Angeles area airports.
COSTA MESA, CA-The firm, which provides legal and consulting services, plans to occupy the space by early September. The term of the lease, including extensions, is seven years and six months. Seven Manatt lawyers, including the firm's co-founder Thomas D. Phelps, will base their practices in Orange County.
LOS ANGELES-The Chino facility encompasses 33,500 sf and sold for $2.5 million. It stands at 4115 Schaefer Ave. The buyer, Chino-based AA Bridal/Apex TK, has already occupied the building.
YORBA LINDA, CA-Constructed in 1986, the 48,000-sf Yorba Linda facility is 98% occupied. Its major tenant is Nestle USA, which occupies half of the facility.
LOS ANGELES-The multifamily property, which is located in Panorama City, has been snatched up by a family trust. Across the county, demand still greatly outpaces supply in the multifamily sector. New construction should do little to ease the problem, as recent research has shown.
LOS ANGELES-The 155,992-sf industrial building has been leased by a third-party logistics firm. The Sacramento-based company has already occupied the facility, which is a new location for them. They will use the recently completed building to store bottles.
NEWPORT BEACH, CA-Pacific Gulf Properties' shareholders have voted yes to the proposed merger with FountainGlen Properties LLC. They have also approved the appointment of Wells Fargo Bank Minnesota, National Association as the trustee of Pacific Gulf's liquidating trust.