BEVERLY HILLS, CA-NSB Associates has completed NSB Value Added Fund I with the acquisition of $30 million of industrial "value- added" properties located in Southern California. The Fund's eight assets encompass approximately 500,000 sf of single- and multi-tenant industrial properties located in Los Angeles and Orange Counties.
LOS ANGELES-The Hollywood revival continues with the opening of the Dome Entertainment Center. Robertson Properties Group has completed the $100 million, 225,000-sf destination that has sparked broad reinvestment in the surrounding area.
WOODLAND HILLS, CA-The second phase will consist of a three-story, 90,000-sf office building with two floors of tenant improvements, as well as traffic enhancements to Conoga Blvd. and Burbank Ave., and public and private utilities required to service the project. The total value of this project is more than $100 million.
LA PUENTE, CA-The Plaza de Hacienda shopping center was 100% occupied at the time of sale. Regency sold the property because it is said to have several acquisitions in the pipeline.
LOS ANGELES-The Grubb & Ellis report says conditions deteriorated in 2001 but the construction pipeline will be substantially depleted by mid-year 2002, setting the stage for a market turnaround.
SIMI VALLEY, CA-Milgard Manufacturing, Inc., a window and door manufacturer, signs a 10-year lease agreement for a 237,266-sf industrial building here owned by PEGH Investments LLC.
LOS ANGELES- The 15,510-sf office building has been vacant for the past six months. The buyer, the Temple Baptist Church, will convert the building into a multi-purpose facility that will include office space, educational facilities and gathering places for religious services and ministry.
LOS ANGELES-The Grubb & Ellis report says conditions deteriorated in 2001 but the construction pipeline will be substantially depleted by mid-year 2002, setting the stage for a market turnaround.
LOS ANGELES-MB&S Silverman sells a 12,500-sf retail building at 5110 Sunset Blvd. and Vanowen Noking sells a 16,000-sf retail center at 20935 Vanowen St. in Canoga Park.
NEWPORT BEACH, CA-James and Lorie Collins, private investors located in Newport Beach, have purchased a nine-unit apartment complex on Balboa Peninsula Point for $179,000 per unit.