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California Commercial Real Estate News Roundup 2022

January 04, 2023

California CRE Highlights & Headlines of Leases, Transactions, Developments & Investments

We put together a list of transactions, lease highlights, and development projects around California’s commercial real estate market. The list also covers financial factors that are important for property owners and investors to know.

California Commercial Real Estate News Q4 2022

What the Road Ahead in 2023 May Look Like for LA CRE

NAI Capital put together a year-end report for the Los Angeles commercial real estate market, and predicted that industrial multifamily real estate will thrive in the region while office and retail will have a tougher time during the year. Read More 

CRE Brokerage Foresees a Positive Year for Los Angeles Retail Real Estate

In another report, the Kennedy Wilson Brokerage foresees a positive year for Los Angeles retail real estate. They predict that the “market will see an upswing”. Read More

One of the USA’s Biggest CRE Projects This Year Is In DTLA

Brookfields’ DTLA Apartment Tower is one of the country’s biggest commercial real estate projects on deck. It is in the top 5 apartment building projects this year. Read More

Amazon Opens Its First Movie Theater in Culver City

Amazon opens its first movie theater in California after already embarking on content creation for Amazon Prime streaming services. It’s planning a “$1B push to release films in cinemas”. Read More

United Rentals Inks $2B Acquisition of Ahern Rentals

United Rentals, a rental services company that focuses on industrial and construction customers, just inked a deal to acquire Ahern Rentals. Read More

Major San Diego Life Sciences Project Lands $203M Loan

Bioterra, a 316K-square-foot life sciences project in San Diego, just landed a $202.6M loan from Square Mile Capital Management LLC. Read More

Flynn Properties Acquires 80% Interest in US Hotels Company & Assets

The latest acquisition by Flynn Properties is a further move to putting capital into the hospitality business. Last year the company purchased 20 properties from Marriott-and-Hilton-branded hotels. Read More

Northland Inks Deal for Tallest Apartment Tower in LA for $504M

THEA at Metropolis, the tallest apartment tower in Los Angeles, was acquired by Northland, an MA-based company. The property was sold for quite a bit less than the original asking price of nearly $700M. Read More

J.P. Morgan Sets $1.4B Price Tag for Water Garden in Santa Monica

The Water Garden in Santa Monica is 1.4M of transit-accessible office space in the area, and J.P. Morgan is putting a price point of $1,000 / square foot for the space. Read More

Anaheim Green-Lights $4B Mixed-Use Entertainment Project

The city of Anaheim just approved one of the largest “experiential” mixed-use projects, which will be anchored by the Honda Center (home of the Anaheim Ducks). The space spans over 95 acres, and will include a concert hall, apartments, retailers, office space, and many restaurant retail spaces. Read More

Northern California Commercial Real Estate News

California Commercial Real Estate News Q3 2022

South Coast & Santa Barbara Commercial Real Estate Report Q3 2022

Q3 CRE sales in the South Coast of California soften in 2022, but are still on track to surpass 2021’s record 109 transactions. Read More

TA Realty Acquires Two Industrial Properties for Nearly $134M

TA Realty inked a deal for two warehouse assets in The City of Industry and Corona, CA respectively. The City of Industry property was 100% occupied at the time of sale, and the Corona warehouse was 43% occupied. Read More 

Investment of $600M for Redevelopment of Television Center in Hollywood

The Television Center in Hollywood will be rebranded at Echelon Television Center, and it is being redeveloped as a means of keeping “Hollywood in Hollywood”. Read More

Ventura Mixed-Use Property Being Developed for $54M

The $54 million mixed-use development of Leap of Faith Partners is in the final stages of entitlement. Read More

Crinetics Pharmaceuticals Inks 94K SF Lease in San Diego

San Diego-based Crinetics Pharmaceuticals inked a 94,000 square foot lab space in Sorrento Mesa. Read More

Sale of 7 SoCal Office & Industrial Properties Shows Demand for the CRE Sectors in the Region

Demand for creative office and industrial spaces stays strong in Southern California as witnessed by one of the largest collective deals in the region during Q3 2022. Read More

Unibail-Rodamco-Westfield (URW) Sells Westfield Santa Anita Mall for Nearly $550M

The buyer of the 1.5M-square-foot retail property in Arcadia, CA was not disclosed publicly. The Westfield Santa Anita mall sold for $538 million. Read More

Bans on Development Are Aplenty in the Inland Empire, Where Vacancy Rates are Below 1%

The council of the Inland Empire discussed placing a 45-day moratorium on warehouse development in the area, despite the record-low vacancy rates. Read More

Three LA Apartment Buildings Go On the Market for Over $500M

Eastdill Secured listed three DTLA apartment properties with an aggregate of over 1,000 units for $520 million. Read More 

SoCal Cold Storage Industrial Asset More Than Doubles Sales Price in 7 Months

Thor Equities acquired a cold storage facility for $85M that exchanged hands for $36M in January 2022. Read More

Netflix Offloads 180K SF of Space in Burbank During Subscriber Loss, Layoffs

BisNow reports on Netflix’s recent release of 180,000 square feet of commercial real estate space in the Los Angeles region. Read More

California Commercial Real Estate News Q2 2022

Manulife Sells 2-Building San Diego Office Portfolio With Life Sciences Potential For $145M

An LLC connected to Manulife Investment Management sold two buildings near San Diego’s University Town Center area for $145M.  The Governor Park buildings were part of a portfolio that last traded hands in 2018 for $95M. Read More

$100 million-plus, two days: Prime South San Francisco sites are bought

A commercial real estate shopping spree has been widening in the biotech and tech hotbed on Peninsula Ave.  Read More

CBRE Brokers $14M Sale of West LA Industrial Site

The CBRE team brokered the $14 million sale of a 26,000-square-foot industrial property on South Sepulveda in West Los Angeles, CA. The transaction, to a local buyer in a 1031 exchange, amounted to $538 per square foot. Read More

Amazon Gobbling Up SoCal Office Space, Taking 439K SF In Santa Monica, Irvine, San Diego

The e-commerce giant recently announced plans to add more than 2,500 corporate and tech jobs in three Southern California cities, snapping up nearly 450K SF of office space in LA, Orange and San Diego counties to make room for its new staff. Read More

Irvine Office Campus Sells for $235M

JLL Capital Markets has closed the $235 million sale of Intersect, a four-building, creative office campus in Irvine, CA. JLL also procured the buyer in the transaction, MetLife Investment Management & PGGM, plus secured a $118 million acquisition loan through Allianz Real Estate. Read More

Greater Los Angeles ranks as one of the top metros for multifamily investments, rent increases

Greater Los Angeles gained momentum as one of the leading metros in the U.S. for multifamily investments and year-over-year rent increases in the first quarter of 2022. Read more

Sylmar Studios breaks ground on large $500 million production site

The project will be one of the first studio developments of its size built by a privately held company in Southern California in decades. Read More

Kennedy Wilson Acquires Three Multifamily Assets for $418M

Kennedy Wilson has purchased three multifamily communities in three off-market transactions totaling $418 million. The wholly-owned properties total 1,110 units and include the Palms at Peccole Ranch in Las Vegas, NV; La Privada in Scottsdale, AZ; and San Miguel del Bosque in Albuquerque, NM. Read More

Addressing California’s Affordable Housing Challenge

Attendees at the 2022 Housing California Conference explored housing models, inclusionary practices, government programs, energy incentives and more in an effort to address the affordable housing crisis facing California and the rest of the United States. Read More

California Commercial Real Estate News Q1 2022


Retail Plaza on Peninsula, South of San Francisco, Exchanges Hands for $72M

Charleston Plaza, a five-building retail shopping center in Palo Alto sold for $71.8 million. The shopping center has several restaurants, cafes, and shops along with a PetSmart, Starbucks, and Chipotle. Read More


Los Angeles Chargers Finalize Plans for New Facility in El Segundo

The Los Angeles Chargers inked a deal for the construction and permanent financing for a new corporate headquarters and training facility in El Segundo, California. The whole project amounts to $276 million. Read More


IDEA1 Multi-Use Project Sold for $106M in Downtown San Diego

Lowe, in tandem with LaSalle Investment Management, and I.D.E.A Partners built the 295-unit, mixed-use project in downtown San Diego originally. It has now been sold to Fairfield for $106M. Read More


CalSTRS Invests $500M into Life Sciences Development Fund

The California State Teachers’ Retirement System, one of the largest municipal pension funds in the country, is putting half of a billion dollars into life sciences real estate. Read More


Inland Empire Retail Center Sells for $71M

Inland Empire Center in Fontana, CA is almost 100% occupied by tenants (99%) currently. The retail center has a Cardenas Market, Ross Dress-for-Less, and Planet Fitness. Read More


Hollywood Media Campus Sells for $93M

The Hollywood Media Campus, a 3.5-acre site in Los Angeles changed hands for a total of $93 million to the Georgetown Company. Read More


How San Diego Became One of the Nation’s Hottest Life-Sciences Real Estate Markets

L.A. Business First (BizJournals) reports on the life-sciences real estate market in San Diego, and how it has surely but steadily become one of the most important life-sciences markets in the country. Read More


South Korean Retail Giant Purchases Napa Vineyard for $250M

Shinsagae, a South Korea-based department store conglomerate purchased Shafer Vineyards for $250.3 million. It’s the latest large-name, family-owned vineyard to hit and exit the marketplace. Read More


Disney Is Planning First “Storyliving” Master-Planned Community in SoCal

Disney is still pushing on it’s long-awaited plans to get into residential development. The company’s theme park division is leading the way with the development of master-planned home communities across SoCal. Read More



See All California Commercial Real Estate News 2021

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See All California Commercial Real Estate News 2019