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Gap Inc. Reports 25% Jump in Profit
By Brian K. Miller
SAN FRANCISCO-Year-to-date, the company has opened 26 stores, weighted toward international locations and outlet stores, and closed 42 stores, weighted towards the Gap brand.
... Full Story
41 Condos in Receivership Go to Auction
By Bob Howard
MARINA DEL REY, CA-The 41, which are part of a 50-unit project that went into receivership, are being auctioned Dec. 13 by Los Angeles-based Intellimarket.
... Full Story
Developer Names CBRE to Lease MOB Project
By Bob Howard
HEMET, CA-The project is a new 126,616-square foot medical office complex called the Hemet Center for Medical Excellence.
... Full Story
Visiting CityCenter for Free, Virtually
By Brian K. Miller
LAS VEGAS-MGM Mirage launches a new interactive web site for the 18-million-square-foot Las Vegas Strip development that opens to the public next month. ... Full Story
Greg Gill Heads New Lee & Associates Office
By Bob Howard
LONG BEACH, CA-The 40-year commercial real estate industry veteran, as president of Lee’s South Bay operations, oversees the new office and an existing South Bay office.
... Full Story
Office Tenants Ink Deals for 97,000 SF
By Bob Howard
LOS ANGELES-The leases include deals for 53,000 square feet of space in Westwood and a 12,319-square-foot lease at 725 S. Figueroa St. in Downtown Los Angeles.
... Full Story
Griffin Capital’s New REIT Open for Business
By Michelle Napoli
EL SEGUNDO, CA-The non-traded REIT will purchase sale-leasebacks directly from corporate occupiers and existing net lease assets from third parties. ... Full Story
Trustee Sale Ahead for Ritz-Carlton Condos
By Brian K. Miller
DENVER-Goldman Sachs Group is foreclosing on the 25 units atop the new downtown Ritz-Carlton hotel after only one unit sold. ... Full Story
Industrial, Medical Office Sales Total 146,000 SF
By Bob Howard
BREA, CA-The largest of the properties is a 107,084-square-foot industrial building here that trades for $8 million in one of three recently closed sales.
... Full Story
Forty55 Lofts Bought for $46M
By Brian K. Miller
MARINA DEL REY, CA-Subsequent to announcing the deal Behringer Harvard reveals the price and other details in its quarterly SEC filing. ... Full Story
Paychex Inks 20,000-SF Office Lease
By Bob Howard
RIVERSIDE, CA-The payroll services firm’s new deal at the Grove office complex increases occupancy to 93% at the 150,000-square-foot office campus.
... Full Story
Abbey Co. Buys 465,000-SF Project for $31M
By Bob Howard
CERRITOS, CA-The Long Beach-based company acquires the Cerritos Corporate Center from TIAA-CREF. Price is undisclosed, but industry sources estimate $31 million.
... Full Story
Penn Makes $50M Offer for $3B Fontainebleau
By Brian K. Miller
LAS VEGAS-In addition to its would-be 'stalking horse' bid for the unfinished hotel, resort and casino Penn National arranges $51.5 million in interim debtor-in-possession. ... Full Story
Commercial Property Tax-Hike Initiatives Afoot
By Brian K. Miller
SACRAMENTO-Three proposed ballot initiatives would sharply increase taxes on commercial properties. ... Full Story
Apartment Deals Top $28M, Include REO
By Bob Howard
LOS ANGELES-The four recently closed deals in Los Angeles County include a $17.75 million TIC deal in Whittier and a $4.52 million REO sale in Chinatown.
... Full Story
BofA Seeks Receiver in 2600 Michelson Default
By Bob Howard
IRVINE, CA-The bank asks Orange County Superior Court to appoint a receiver for the 308,000-square-foot office tower and requests a judicial foreclosure.
... Full Story
77-Acre ‘Green’ Community Gains Master Developer
By Brian K. Miller
MOFFETT FIELD, CA-A three-million-square-foot mixed-use community at the NASA Research Park here will serve as a test-bed for advances in green technologies. ... Full Story
HFF, KBS Realty Advisors Add New Hires
By Bob Howard
IRVINE, CA-Holliday Fenoglio Fowler expands its Southern California investment sales team, and Newport Beach-based KBS hires a new asset manager for the Southwest.
... Full Story
Sands Pays $87M of $380M for Macau Land Lease
By Brian K. Miller
LAS VEGAS-Las Vegas Sands makes the initial payment for the first two parcels of a five-parcel Cotai Strip land concession. ... Full Story
Hooters Resort Still at Risk of Ch. 11 Filing
By Brian K. Miller
LAS VEGAS-The owner of the 696-room hotel-casino, which is looking to sell, posts another third quarter loss as bankruptcy protection remains a real possibility. ... Full Story
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