Los Angeles
The Corporation for Supportive Housing and Conrad N. Hilton Foundation recently revealed a $5.2-million initiative to continue building permanent supportive housing for homeless people in Los Angeles. With assistance from the Community Redevelopment Agency of the City of Los Angeles, JPMorgan Chase & Co. and Fannie Mae, the Los Angeles Supportive Housing Recovery Initiative, as the new effort is called, will provide a mix of grants, low-interest loans and technical assistance to housing developers in Los Angeles that are experiencing project delays due to state and municipal budget crises and frozen credit markets. The Hilton Foundation provided $4 million toward the Los Angeles Supportive Housing Recovery Initiative. Permanent supportive housing, which combines affordable housing with supportive services, has proven to be a highly cost effective way to end long-term homelessness for people facing complex challenges, including mental illness, substance abuse and physical disabilities, according to a prepared statement. “The economic downturn has stalled construction of new supportive housing developments and placed a crippling financial burden on many nonprofit housing developers who have been forced to resort to program cuts, hiring freezes and lay-offs,” the statement says. “The LA Supportive Housing Recovery Initiative is critical to ensure that the permanent supportive housing industry isn’t permanently hurt by the recession, which would have long-term and devastating results for the city, nonprofit developers and homeless and disabled people in desperate need of this housing,” says Ruth Teague, CSH Los Angeles director.”
Orange County
Clear Channel Broadcasting, a global media and entertainment company, has signed an 80-month renewal lease on a 19,633-square-foot office building for $2.8 million. The property is located at 27071 Aliso Creek Rd., Suites 200 & 210, in Aliso Viejo, CA. Voit Real Estate Services’ Irvine office represented the lessor Arden Realty. The lessee was represented by Lee & Associates.
SWI Properties has acquired a 16,740-square-foot building for $2.3 million. The property is located at 7 Autry in Irvine, CA. Voit Real Estate Services’ Anaheim office represented the buyer, SWI Properties. The seller, the Hughes Family Trust, was represented by Lee & Associates.
San Diego
Rexford Industrial LLC has completed of 24,035 square feet of new leases located at 951 Poinsettia Ave. in Vista, CA. Among the new leases are: Waterfront Packaging LLC, who has signed a new lease for 15,749 square feet of industrial space. Coldwell Banker Commercial Almar Real Estate Group represented Rexford and the tenant; PCFetch.com has signed a new lease for 8,286 square feet. Lee & Associates represented the tenant and Coldwell Banker Commercial Almar Real Estate Group represented Rexford. The newly renovated, 145,455-square-foot property is located in the Vista industrial submarket of North San Diego County.
A 6,200-square-foot lease has been executed with Kahoots Pet Store at Vail Ranch Center, located approximately two miles east of Interstate 15, on the southwest corner Temecula Parkway South (Highway 79) and Redhawk Parkway in Temecula, CA. Retail Insite, San Diego, CA, represented Kahoots Pet Store. Centro Properties Group is the owner of Vail Ranch Center and was represented by Centro Properties Group.
Massage Envy recently leased 4,217 square feet at Ocean View Plaza, visible to the east of Interstate 5, the center is accessed from the Camino de Estrella exit, located between Camino de los Mares and Interstate 5, with a cross street of Calle Agua in San Clemente, CA. Adrienne Rice of The Windsor Realty Group, Atlanta, GA, represented Massage Envy Spa. Centro Properties Group is the owner of Ocean View Plaza and was represented by Brian Baker with Centro Properties Group.
Dance Unlimited signed a 10-year lease at Oceanside Marketplace in Carlsbad, CA. The deal consisted of 10,462 square feet with a total consideration of nearly $1.38 million. Colliers International represented both the landlord and the tenant.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
