LOS ANGELES, CA-The office REIT's funds from operations dropped $3 million from last year's second quarter, while net income dropped by nearly $11 million. The company announced a stock repurchase program.
TORRANCE, CA-The Los Angeles-based office REIT says this purchase from the Carlyle Group makes Arden the biggest owner of class A office space in the 190th Street corridor of L.A.'s South Bay market.
LOS ANGELES, CA-The deal required an unusually fast closing to satisfy the requirements for one of the sellers of the circa 1970 property, which drew 10 offers from prospective buyers.
LOS ANGELES, CA-Jay D. Haskell, formerly president of the Seeley Co., joins Dunn in the newly created post of vice chairman. His charge is to reposition and expand the brokerage and property management firm.
WESTWOOD VILLAGE, CA-Damoka Los Angeles Inc. pays $3.5 million for the 8,367-sf Flax art supply building, which sits on a 12,460-sf lot near the UCLA campus.
WEST SACRAMENTO, CA-The buyer is Transpacific Development Co. of Torrance, Calif. The purchase is part of an acquisition program that began after Transpacific sold more than $500 million of real estate in 1998 to Spieker Properties, a REIT later acquired by Equity Office Properties Trust.
RANCHO DOMINGUEZ, CA-Ontario, CA-based Apex Digital Inc. bought the industrial building from Kennedy Associates Real Estate Counsel of Seattle and plans to use it for warehouse and distribution operations.
MARINA DEL REY, CA-A family trust bought the building, which will be leased to a single tenant. The sales price of $168 per sf demonstrates the strong demand for owner-user office space in the Marina.
LONG BEACH, CA-The Los Angeles-based developer bought the rights to develop the apartments above retail space as part of the eight-block, $75 million CityPlace project in downtown Long Beach.
BEVERLY HILLS, CA-Product Partners is relocating from Santa Monica, Calif. into 15,392 sf of space in Beverly Hills that will include a fitness center for its workers.