LOS ANGELES-Citing the long-standing relationship, the great location and the resurgence of Downtown LA's South Park district, Employers Group recently completed a $2-million lease renewal for a full floor in Transamerica Center.
LANCASTER, CA-Passco Real Estate Enterprises acquires the Lancaster Commerce Center, a neighborhood retail power center located at the intersection of the Antelope Valley Highway 14 and Avenue K in the City of Lancaster.
LOS ANGELES-Lewis, D'Amato, Brisbois & Bisgaard is expanding its Downtown Los Angeles office at 221 North Figueroa St. The firm has extended its lease for an additional six years and signed on for an additional full floor of office space, bringing its total occupancy to 117,000 sf.
LOS ANGELES-The former American Produce Building, located at 2160 E. 7th St. was built in 1986 and features approximately 30,000 sf of cooler space. The buyer, Davalan Produce is currently located in several buildings throughout the Downtown area.
BEVERLY HILLS, CA-Kennedy-Wilson, the international real estate services and fund management firm, has appointed Ethan Penner, widely recognized as having revolutionized modern-day real estate finance, as its president. Together with Kennedy-Wilson's Chairman and CEO Bill McMorrow, he will be responsible for developing and directing the company's various businesses.
COSTA MESA, CA-In one transaction, 15 acres zoned for residential in Carson sold for $13 million. In the other, a half-acre in Santa Monica's Ocean Park neighborhood sold for $3.7 million.
ANAHEIM, CA-The buyer is Asset Management. The building is approximately 95% occupied. The property address is 501 North Brookhurst St. The capitalization rate on the deal is said to be just under 11%.
LOS ANGELES-California political veteran Chad Griffin has been hired to direct all aspects of a campaign to stop Washington Mutual Bank's massive luxury housing and retail development in the Santa Monica Mountains.
LOS ANGELES-The Grove, a 575,000-sf outdoor retail and entertainment center, opens for business this week just east of the original Farmer's Market at Third St. and Fairfax. Caruso Affiliated Holdings is the owner and developer of the project.
LA VERNE, CA-Alpha Scientific Medical has already occupied the building, which is located at 1751 Yeager Ave. The facility is being used for warehousing and wholesaling. The property was sold by Askey International Corp. of La Verne.