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LOS ANGELES, CA-Defendants in the securities class action suit include Alan Casden, one of the region's largest developers of apartments. The defendants are expected to appeal the decision, which was rendered by a federal jury in Los Angeles.
ONTARIO, CA-Driftwood Village obtains financing for the 82,072-sf retail center, which is anchored by a Food 4 Less supermarket. The property includes two parcels for future development.
VERNON, CA-Cocomo Apparel and Volume One Apparel sign a five-year, $1.88-million lease for 64,740 sf of warehouse and distribution space that will be used for offices and warehousing, cutting, knitting and manufacturing.
LOS ANGELES, CA-An affiliate of Los Angeles-based Bentley Forbes acquires the 200,000-sf manufacturing and distribution facility southeast of Downtown Los Angeles that is home to a tortilla manufacturer Gruma Corp.
RANCHO CUCAMONGA, CA-Panattoni Development Co. buys 19.6 acres for the industrial project from 7th Street LLC for $4.3 million. The property is rail-served and close to the I-10 and I-15 freeways.
PALOS VERDES, CA-The 215-unit complex overlooks multimillion-dollar homes in this ocean view community and is a unique property that "could not be duplicated today," says Melinda Russell of Hendricks & Partners.
CAMARILLO, CA-Triliad Development Inc. has begun construction of two R&D/industrial buildings totaling 205,117 sf on 11 acres along the 101 Freeway in Mission Oaks Business Park. The single-story buildings will be built out with approximately 10% mezzanine office space.
TEMECULA, CA-Save Most Desert Rancho Ltd. of Laguna Hills buys the five-building, 103,895-sf office and R&D park for $8.5 million. It is the investor's first purchase in Riverside County. The seller acquired the asset in 2000.
LAKE ELSINORE, CA-Eastbourne Investments Ltd. of Williamsville, N.Y., sells the 150,200-sf Lake Elsinore Town Center after increasing occupancy and boosting rents. Eastbourne bought the center in August 1999.
WEST LOS ANGELES, CA-Alliance Commercial buys the 148,727-sf, garden-style project for $21.8 million and secures $22.5 million in financing to cover a major rehabilitation of the 22-year-old property.