California
Griffin-American Healthcare REIT Buys Centre Medical Plaza
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. FULL STORY
Lee & Associates Forms Alliance for Management Services
EXCLUSIVE 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. FULL STORY
Environmental Property Report Demand Rises 10% in Q1
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. FULL STORY
CBRE Restructures NorCal Institutional Investment Team
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. FULL STORY
Kornwasser Sells Lakeview Pleasant Pavilion for $42M
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. FULL STORY
$69M Development To Be Built With Union Labor
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. FULL STORY
More California Headlines See West HeadlinesSpotlight
ANALYSIS
Will Oil Prices Affect Hospitality or Just Multifamily?
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.
RETAIL FOCUS
Walgreens Sells For $1,736 Per Square Foot
LAS VEGAS-A foreign fund pays $27.8 million for the store, making it the most valuable single-tenant net-leased drugstore ever to trade in the US.
MULTIFAMILY BUILD
$93M Secured for Construction of 293-Unit Multifamily
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.”
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LAS VEGAS-A foreign fund pays $27.8 million for the store, making it the most valuable single-tenant net-leased drugstore ever to trade in the US.
