CASTAIC, CA-The project will be the first new commercial endeavor here in 10 years. Construction is expected to begin by fourth quarter 2002, with completion scheduled for first quarter 2003.
MOORPARK, CA-Ventura County developer Grand Moorpark LLC plans to begin work on the 48,000-sf two-story medical and office building by September of this year, with a completion date scheduled for the end of the second quarter 2003.
LONG BEACH, CA-The acquisition, valued just under $2 million, is for a 72-unit loft development that will be part of the $75-million CityPlace development. The property was purchased by locally based Urban Pacific Builders.
RANCHO DOMINGUEZ, CA-The Anaba Group has purchased the industrial facility here from IMACC Properties, LP. The acquisition represents a four-four expansion for the company's headquarters.
SANTA FE SPRINGS, CA-The Shoemaker Business Park was sold by Roll Properties to First Industrial Realty Trust. It was 95% occupied at the time of sale, which had a capitalization rate of around 9.5%.
CITY OF INDUSTRY, CA-The California retailer pays $8.975 million to seller Ringwood Avenue Properties LLC. Stroud expects to move into the new facility this month following construction of a new 25,000 sf mezzanine for the administrative area.
PASADENA, CA-The Pappas Trust has leased 19,375 sf that was once a skating rink to the music retailer, who plans to build out the site to accommodate its business, including the demolition of a 4,250-sf mezzanine.
CAMARILLO, CA-The builidng was erected in 1982 and is situated on 1.3 acres at 829 Via Alondra. The buyer is Advanced Imaging, a locally headquartered company. The acquisition increases the company's presence in the community by 50%.
ALHAMBRA, CA-The 98% occupied Almansor Villa apartments was sold by Almansor Villa LP to Galssell, which plans to do approximately $300,000 in renovations to help push rents to market value.
BURBANK, CA-The fixed-rate, 10-year term financing will be used to retire construction and pay for mezzanine financing on the development, which has a 99% occupancy level.