More California Headlines

GlobeSt News Hub

SAN JOSE, CA-A cloud communications company is moving its headquarters from Sunnyvale to North San Jose.

Amy Wolff Sorter

TEMPE, AZ-Interwest Capital and Angelo, Gordon & Co. pay $46 million to servicer Petra Capital Management. The new owners plan upgrades to the tune of $5,000 per unit.

Carrie Rossenfeld

SACRAMENTO-L Street Lofts, a mixed-use, fractured condominium project, sells with just 10 units being leased for $2.50 per square foot, the highest rental rate in the midtown area.

Carrie Rossenfeld

PALO ALTO, CA-The region reports 2.7 million square feet of office absorption during 2011, which hasn’t been seen since the 1990s dot-com era.

Natalie Dolce

LOS ANGELES-Orange County-based Clearview Capital LLC, who paid $20 million for the 156-room property, ‘was attracted to the high quality brand and product,’ says a source.

GlobeSt News Hub

OAKLAND, CA-Investors Winthrop Realty Trust and Paulson & Co. have put the Claremont Hotel Club & Spa, a 279-room hotel in Oakland Hills, on the market for sale.

Natalie Dolce

PALO ALTO, CA-GlobeSt.com ran into Andrew Barnes, one of the two new lead brokers in the office, at the firm’s party at ICSC’s RECon2012, who notes that the firm is looking to build that office over the next few years.

Robert Carr

WEST SACRAMENTO, CA-Along with an almost 5,000-unit apartment portfolio, former Lehman partner LCOR also brings development abilities to the locally based investment giant.

Carrie Rossenfeld

IRVINE, CA-Eleven of the 20 largest US metros post foreclosure increases in April—all in the Midwest, South and East Coast.

Carrie Rossenfeld

LOS ANGELES-CBRE’s Capital Value Index shows a 9.6% increase in year-over-year capital values for real estate in the Americas in first-quarter 2012.

GlobeSt News Hub

REDWOOD CITY, CA-The City Council has chosen a joint venture between HunterStorm LLC and Kilroy Realty Corp. to redevelop the city's Depot Circle, a surface parking lot adjacent to the Caltrain station.

GlobeSt News Hub

LOS ANGELES-Century West Partners will create a new multifamily property in Los Angeles's South Park.

Amy Wolff Sorter

HOUSTON-The company, a supplier of components to the oil and energy extraction industries, takes office building space in a short-term deal for a project completion.

Carrie Rossenfeld

LOS ANGELES-The Vermont is the largest residential development to be built in L.A. since the beginning of the latest real estate downturn.

Carrie Rossenfeld

SANTA BARBARA, CA-ista North America’s Multifamily Services Group is a leading supplier of energy and water metering, billing and management services.

Carrie Rossenfeld

LOS ANGELES-Champion Real Estate Co. has allocated $50 million of equity to a venture with Wilson Commercial Real Estate, which could be leveraged up to $200 million in retail properties over the next three years.

Carrie Rossenfeld

MOUNTAIN VIEW, CA-SRGNC CRES LLC has filed with the city to reposition and entitle a new campus on 24 acres here.

Robert Carr

DOWNEY, CA-The companies are leading a new charge to redevelop the former space vehicle factory into a 1.5-million-square-foot mixed-use site with office, retail and a hotel.

GlobeSt News Hub

CHULA VISTA, CA-CoStar Group reported that Newport Beach-based Griffin-American Healthcare REIT has acquired Centre Medical Plaza, a two-building medical property in Chula Vista, for $24.6 million.

Natalie Dolce

SHERMAN OAKS, CA-The venture with Moss & Co. will offer building owners a seamless transition from acquisition to management of commercial properties, GlobeSt.com exclusively learns.

Carrie Rossenfeld

TORRANCE, CA-The increase in Phase I ESA’s ordered indicates steady improvement in the national real estate markets, says engineering-consulting firm Partner Engineering and Science Inc.

Carrie Rossenfeld

SAN FRANCISCO-The firm has initiated a series of moves designed to strengthen significantly its delivery of capital-markets solutions to CRE investors in the San Francisco Bay Area.

Amy Wolff Sorter

PEORIA, AZ-San Diego-based Excel Trust acquires the 373,000-square-foot community shopping center, which has a 185,000-square-foot Super Targe as its shadow anchor.

Natalie Dolce

SAN MATEO, CA-The AFL-CIO Building Investment Trust teams with Sares Regis Group of Northern California to develop 155 luxury apartments here, a project that is expected to create more than 300 union construction jobs.

Carrie Rossenfeld

LOS ANGELES-Scott Steuber will be working out of the firm’s downtown L.A. office; he has completed more than three million square feet of leasing transactions since 2004.

Carrie Rossenfeld

WALNUT CREEK, CA-The firm has added 17 new team members to cover East San Francisco Bay and one EVP for its Orange County office.

Natalie Dolce

WEST COVINA, CA-The 805,000-square-foot property’s ‘highly visible location’ and the ability to own the entire 100% leased center and being 100% leased made it an attractive opportunity.

GlobeSt News Hub

SAN PEDRO, CA-Regency Centers Corp. has sold Park Plaza, a 199,666-square-foot retail center in San Pedro, for $62 million.

Carrie Rossenfeld

SAN JOSE, CA-Bay West Development has secured equity from affiliates of Berkshire Property Advisors L.L.C. and construction financing from a syndication of Comerica and California Bank & Trust for the development of a luxury, tech-forward apartment community within the “Golden Triangle.”

Carrie Rossenfeld

PLAYA VISTA, CA-California Pizza Kitchen signs a long-term sublease with Fox for 34,000 square feet of office space on the top floor of the project’s west building; expected move-in is this fall.

Natalie Dolce

SAN JOSE, CA-Once constructed, Ellis Partners LLC’s 101 Tech Campus will include three six-story class A office buildings and a gathering hall that can house a private food court and fitness center.

Natalie Dolce

SAN PEDRO, CA-An affiliate of First Washington Realty Inc. was one of more than 20 bids that were received on the 199,666-square-foot Park Plaza shopping center here.

GlobeSt News Hub

SAN FRANCISCO-Union Investment, an investment fund based in Germany, has reached a contract to purchase 555 Mission St. in downtown San Francisco for $445 million.

Carrie Rossenfeld

SIMI VALLEY, CA-Mike Rovner Construction has added Jeffrey Moe as VP of construction and development to help develop the firm’s internal construction operation and accounting processes and to establish new business relationships with an expanded list of clients.

Carrie Rossenfeld

SAN ANSELMO, CA-Among the new hires at TRI Commercial/CORFAC International is Grubb & Ellis’s top Sacramento investment advisor Steve Griffin and five other brokers formerly with G&E.

Natalie Dolce

LOS ANGELES-Lewis Brisbois Bisgaard & Smith LLP signs on for a 10-year lease renewal at 221 N. Figueroa St. in a transaction estimated to cost $45 million.

Natalie Dolce

LOS ANGELES-The firm agrees to pay $90 million for 901 Market St. in San Francisco, and $89 million for the Olympic Bundy Media Campus in West L.A.

Natalie Dolce

LOS ANGELES-While sources agree on the correlation between higher gas prices and higher demand for multifamily product closer to TODs, some question whether international business can make up for a potential loss in drive-to business for the lodging industry.

Carrie Rossenfeld

SACRAMENTO-Authorities say the state assembly’s recent decision to disband California’s redevelopment agencies has created an arduous task for oversight boards and successor agencies to determine what will happen to redevelopment projects in the pipeline.

Natalie Dolce

SACRAMENTO-The firm continues to pursue higher density infill projects near a major transportation hub and job centers that support 100,000 office and government workers.

Robert Carr

EL CAJON, CA-The Real Estate Group and Marcus & Millichap arranged a $15.4 million, four-year loan for the six-building industrial park, purchased by Westport almost exactly one year ago.

Carrie Rossenfeld

SACRAMENTO, CA-CBRE Multifamily Capital Inc. has arranged financing for the Element, a 288-unit, 792-bed student-housing community located here at 6730 4th Ave.

Carrie Rossenfeld

LOS ANGELES-Associated Estates has purchased the 79,000-square-foot Desmond’s Tower at 5500 Wilshire Blvd. and its adjacent parking lot from an entity formed by Legacy Partners and plans to spend roughly $70 million to develop upscale apartments.

GlobeSt News Hub

MOUNTAIN VIEW, CA-Omnicell Inc., which has been forced out of its current space by landowner Google Inc., has found new homes to accommodate its manufacturing facilities and headquarters.

GlobeSt News Hub

EMERYVILLE, CA-TMG Partners and Essex Property Trust are planning to break ground on a 190-unit apartment building in Emeryville.

GlobeSt News Hub

SAN FRANCISCO-Macy's has purchased a portion of its flagship store on the West Coast for $115 million.

GlobeSt News Hub

SAN DIEGO-The city of San Diego will start preliminary review on plans presented for a $200-million mixed-use development in Mission Valley later this year.

GlobeSt News Hub

SAN DIEGO-Rosecrans Plaza Kiffmann LLC has purchased a retail center named Glasshouse Square for a price of $24 million.

GlobeSt News Hub

SAN JOSE, CA-American Realty Advisors has purchased the newly constructed, 80,000-square-foot retail village at the $350-million @First mixed-use project in San Jose.

Carrie Rossenfeld

SAN FRANCISCO-Cushman & Wakefield has added six veteran brokers from CBRE to expand its investment-sales services in Northern California.