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California Commercial Real Estate News Roundup 2021

October 05, 2021

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.

Northern California Commercial Real Estate News

California Commercial Real Estate News Q3 2021

West Coast Apartment Market Stays Positive and Busy Through the Pandemic

GlobeSt covers the apartment industry in the West Coast, focusing on the core coastal markets that have been active during the pandemic. Read More

 

$500M High-Rise May Be Added to the Hollywood Skyline

The high-rise, aptly named The Star (for Hollywood’s stars), is in the works for the northeast block at Sunset Blvd and Gower St. Read More

 

Life Sciences Real Estate Footprint Grows by 600% in San Diego

San Diego’s life sciences real estate market is on fire with unprecedented growth being witnessed across the area. Read More

 

LA Clippers Break Ground on $1.8B Inglewood Arena

The Clippers are breaking ground on a massive new CRE project in Inglewood, CA. They have also announced a $500M naming rights deal for the project. Read More

 

Orange County Highlights “Robust Growth” in Medical Office Real Estate

New construction projects and higher rental rates in the medical office real estate sector of Orange County highlight the demand and growth of the market in the region. Read More

 

Los Angeles Leads the Way for Office Real Estate Markets Nationwide

BizJournals reports on the latest stats and figures presented by Los Angeles’ office real estate market that shows signs of growth after the initial hit from the pandemic. Read More

 

Oil Services NNN Property Sale in Costa Mesa Breaks Records Nationwide

A single-tenant retail property occupied by Henley Enterprises in Costa Mesa break the record for an oil services triple net lease property. Read More

 

LA Plans for Downtown Housing Boom, but Can Multifamily Real Estate in the Area Meet the Demands?

BisNow reports on the latest trends in multifamily real estate across Los Angeles and answers the question regarding the ability to meet the demand in the area from a predicted housing boom in the coming future. Read More

 

An Apartment Complex in Anaheim’s Multifamily Market Sells for $297K Per Unit

A two-story apartment complex with 56 units in Anaheim recently sold for $15.6M with a price of $297K / unit. Read More

 

$500M Refinance Project in Beverly Hills Sealed

The developers of a major, $2B residential real estate project in Beverly Hills inches closer to the finish line with a $500M inked and in the books. Read More

Comprehensive Triple Net Lease Guide Created by N3 Real Estate

N3 Real Estate compiled a list of questions and answers to help explain Triple Net Leases (NNN) and the different nuances that go into this area of retail real estate.

 

Industrial Real Estate Vacancy in LA’s (and Nation’s) Busiest Port Goes Below 1%

BisNow reports on the latest statistics in Los Angeles’ industrial real estate sector, highlighting that the nation’s busiest port has below 1% vacancy currently. Read More

 

California HQ Exodus Continues, Companies Are Seeking Low-Tax States for New Offices

Current California Governor, Gavin Newsome, has placed importance on the need to address this growing trend across the state, especially in the Bay Area. Read More

 

California Commercial Real Estate News Q2 2021

LA’s Office Real Estate Market Is Starting to Recover Post-Pandemic

BizJournals reports on the latest statistics released for the Los Angeles office real estate market, which has positive signs of recovery in the area after the initial hit from the pandemic. Read More

 

Rocket Company Leases 1M Square Feet of Space in Long Beach

Long Beach’s aerospace industry is starting to take off again according to a BisNow report, and the latest inked lease is a great sign of things to come. Read More

 

Rexford Industrial Invests $94M on Arts District Complex in Los Angeles

The Box Yard, a 260,000 square-foot industrial complex just sold for $93.6M to Rexford Industrial Realty. Read More

 

Nearly 25% of LA’s Office Real Estate Space Was Available for Lease in Q1 2021

Vacancy rates rose during the pandemic’s initial hit, and Los Angeles’ office real estate market was particularly disrupted reports BisNow. Read More

A Recap of the Biggest CRE Headlines Across California in Q2 2021 from Connect.Media

Connect.Media published new reports and news in the California CRE market on a frequent basis. Read More

CRE News Headlines from GlobeSt.com Around The Golden State

GlobeSt covers the major news and updates from California’s commercial real estate market. Read More

California Commercial Real Estate News Q1 2021

Hackman Capital Plans $1.25B Expansion of Television City in Los Angeles

Los Angeles’ Television City is set for a major overhaul and modernization project due to the capital being invested by Hackman Capital. Read More

 

7 of the Biggest CRE Projects Underway in Southern California

BisNow highlights 7 of the biggest commercial real estate projects currently taking place in SoCal. Read More

 

A Recap of the Biggest Commercial Real Estate News Across California in Q1 2021 from Connect.Media

Connect.Media published new reports and news in the California CRE market on a frequent basis. Read More

California Commercial Real Estate News Q4 2020

7 CRE Projects to Follow Opening in Southern California in 2021

BisNow put together a list of the top commercial real estate projects to keep an eye on that are finishing during 2021 despite the difficulties brought on by the pandemic. Read More

 

Grocery-Anchored Retail Center in LA Sold for $58M

California Marketplace, a three-story grocery-anchored shopping center in LA’s Koreatown sold for $57.5 million. California Marketplace has a total of 80,046 square feet. Read More

 

Dodeaux Properties Sells 10-Property Portfolio of Industrial Assets

San Francisco’s Stockbridge Capital Group announced the acquisition of a majority stake in Dodeaux Properties’ 10-asset industrial portfolio, which includes Marathon Business Center in Livermore, CA. Read More

 

Entertainment & Media Holding Up LA’s Office Real Estate Sector

Netflix increased its footprint in Burbank and other areas of Southern California in order to meet their growing demand and accounted for the biggest office lease of the year at 171,000 square feet. Read More

 

Less Commuter Traffic to Change the Design of Cities

The DCBID in Downtown LA is researching the effect of reduced commuter traffic in cities and how it could affect the design and dynamics of urban cores. Read More

 

$125M Opportunity Zone Project Near USC Begins in Late 2020

Adams & Grand, a seven-story mixed-use real estate project with 296 apartments and 5,000 square feet of retail space is set to begin in December 2020. Read More

 

Cohen Asset Management Acquires LA Industrial Asset for $37M

Cohen Asset Management got a $21M acquisition loan from Life Insurance Company of the Southwest to cover the cost of purchase for a Los Angeles warehouse. Read More

 

Nuveen Real Estate Sells Industrial Portfolio for $94M

Allianz Real Estate is expanding its presence in the United States CRE market with an expansion of industrial real estate assets totaling $94 million. The industrial portfolio they acquired has 6 properties in three major markets. Read More

 

LA Hits Record New Construction Pipeline

There is currently around 40 million square feet of commercial real estate property space under construction in the area. It’s a level that hasn’t been seen in decades. Read More

 

Waterford Proposes $225M MXU in Santa Ana

Waterford Property Company unveiled plans for Central Pointe, a $225-million luxury mixed-use, transit-oriented project in Santa Ana, CA. Central Pointe will be a 644-unit multifamily development. Read More

 

California Commercial Real Estate News Q3 2020

Los Angeles Ranks as Top Life-Sciences Industry Hub

Bioscience real estate, jobs and wages are going up and benefiting those in the industry in the recent months. Los Angeles is currently ranking in the Top 1o for the USA’s Largest Life-Sciences Markets. Read More

 

Real Estate Landlords in California Are Warming Up to Weed Retail Tenants

BisNow covers the latest trend of cannabis brick and mortar tenants gaining presence in the market and retail store locations. Read More 

Taiwan-Based PMP Tech Acquired Apple-Leased Portfolio for Close to $100M

PMP Tech acquired a six-building office real estate portfolio in Cupertino, CA for $98 million. The six buildings total over 135K square feet and are currently leased by Apple. Read More

 

Aecom Relocates HQ to Downtown Los Angeles

Aecom is in the process of relocating its headquarters from Century City to Downtown Los Angeles. The move is currently underway, and will be full executed by early 2021. Read More

 

California Markets Rank as the Most Expensive in the USA

GlobeSt covers the recent survey conducted by Finder.com that analyzes cities with the highest cost of living in the US. Four of the Top Five cities are in California, including: San Francisco, San Jose, Los Angeles, and San Diego. Read More

 

Columbia Bolsters JV with Allianz on $400M San Francisco Acquisition

Colombia Property Trust, Inc and Allianz Real Estate formalized the formation of their joint venture when Allianz contributed cash for $180 million for 45% ownership in the recapitalization of 221 Main St in San Francisco. This values the South Financial District tower at $400 million. Read More

 

San Diego Office Real Estate Development Activity is Strong

Office real estate developers continue to be bullish about San Diego’s market. There’s been a recent boost in development, although the deliveries are still below the last cycle. Read More

 

Ventas Acquires Genesis Tower in San Francisco for $1B

Chicago-based Ventas Inc acquired Genesis Towers, a 721,000-square-foot life sciences complex in South San Francisco for $1 billion. The previous owner was a joint venture between Bain Capital and Phase 3 Real Estate Partners, Inc. Read More

 

Most Expensive Stadium Ever Debuts in Los Angeles Without Fans

The NFL’s largest ever stadium was unveiled in September without any fans present due to the ongoing pandemic. The project was completed after many years of planning and development and is estimated to be nearly $5B total (or more). Read More

 

California Investor Spends $590M to Expand Presence in Research Triangle Park

A large portion of the Research Triangle Park campus was sold for over $590 million. Alexandria Real Estate Equities acquired the property in Pasadena in August 2020. Read More

 

GlobeSt Covers How Commercial Real Estate Owners Are Adapting and Using Outdoor Space

CRE property owners are putting outdoor space to more creative use for their real estate projects due to the pandemic. Since it is recommended to limit large, indoor gatherings of people, real estate owners are looking at and implementing ways to better use their outdoor space. Read More

California Commercial Real Estate News 2020 - Radius Commercial Real Estate Group

California Commercial Real Estate News Q2 2020

How Local Retail Can Benefit Cities During the Pandemic

GlobeSt covers the impact that retail real estate and local retailers can have on the overall economic effects of the pandemic. Localized retailers and smaller boutiques can provide more safety to people’s health and the economy overall during this time. Read More

 

$2 Billion Hollywood Megaproject Gains Momentum

Alagam Capital Group and Cain International team up to redevelop former Robinsons-May department store in Hollywood. The One Beverly Hills mixed-use development combines the joint venture’s two existing hotels, the Waldorf Astoria and Beverly Hilton, to make one massive luxurious project. Read More

 

Office Buildings Become “Greener” As a Result of the Pandemic

Office building owners are prioritizing “going green” as a direct result of Covid-19 and its impact on the economy. The trend was not a high priority prior to the pandemic, but now there are more conscious efforts of manifesting this trend across the board. Read More

 

Financial Relief for California Commercial Property Owners Unclear at the Moment

Commercial property owners in California are dealing with financial set backs, such as a loss of property value, due to the pandemic. Currently, across the state, many owners are trying to get whatever relief possible from local government agencies. Read More 

 

New Features for CRE Office Buildings Trending Due to Pandemic

Building features, such as: high-speed WiFi, touchless (contactless) access, and virtual tours are evolving from a trending fad to a necessity as a result of the pandemic. Building owners are adapting to the demand of these technologies. Read More

 

Industrial Real Estate Markets See Strong Growth Amidst Pandemic

While the economy and CRE sectors are facing an uphill battle due to the Covid-19 pandemic, industrial real estate is showing strong signs of growth and demand. Read More

 

The Golden State Warriors, Uber, and Alexandria Are Withdrawing Millions from the Chase Center

The Chase Center in San Francisco is going through major development changes, and the project’s stakeholders, as well as those of the adjacent buildings are shifting money around to mitigate financial losses during the current pandemic. Read More

 

San Francisco’s Distinguished Skyline Gets a New Addition

BizJournals.com covers the latest mixed-use skyscraper that is in the works for downtown San Francisco. The new real estate project is loaded with amenities and modern features. Read More

 

 

California Commercial Real Estate News Q1 2020

California’s Governor Outlines Plan to Open Up the State’s Economy

Gavin Newsome laid out the game plan for reopening California’s economy, and stated that “we must be guided by science and data.” After the citizens of California succeeded in flattening the curve, now’s the time to open up prudently and responsibly. Read More

 

Business Insider Covers the Impact of Covid-19 on the CRE Market

It was predictable to see that deals would fall through and tenants would have issues paying rent during the initial windfall of the pandemic. Business Insider covers some of the latest news nationwide with CRE during this challenging time. Read More

 

UCLA Study: Expect Contraction of California CRE Market Until 2022

A UCLA study investigating California’s commercial real estate market found that the trend of growth would contract a bit in the state for the next couple years.

Read More / Times of San Diego Article

 

California, One of the Least Vulnerable States to Coronavirus’ Economic Fallout

California’s dynamic, diversified economy makes it one of the more resilient economic markets in the world, and it is beneficial during the difficult times we face, as potential losses can be mitigated. Read More

 

Rexford Industrial Unleashes $200M+ in CRE Property Acquisitions

The commercial real estate company specializing in industrial real estate acquired a 10-building portfolio of warehouses and other industrial real estate properties around Southern California. Read More

 

Positive Sign for Malls in $3.6B Los Angeles Shopping Center Purchase

Simon Property Group’s pending acquisition of an 80% interest in Taubman Centers will give the former majority ownership of many high-quality malls around the USA. The deal illustrates that premier shopping centers are undervalued. Read More

 

California “Stay at Home Order” Will Test Many CRE Leases / Contracts

Tenants and landlords will adapt and react differently to the pandemic’s economic fallout, and more importantly will call to question the interpretation of contracts / responsibilities within the previously inked agreements. Read More

 

Predictions for the US’ Economy & CRE Market in the Wake of the Pandemic

Various CRE and economy experts weigh in on the impending economic wake that follows the pandemic. Read More

 

Los Angeles’ Industrial Real Estate Construction Up Nearly 90%

In 2020, 5.3 million square feet of industrial property will be delivered in Los Angeles, and another 26 million in the Inland Empire. This marks an increase of nearly 90% year-over-year. Read More

 

Los Angeles’ Art District is Expanding with 30+ Projects in the Works

Los Angeles’ commercial real estate expansion is not limited to industrial real estate, as the Art District has over 30 CRE projects in the pipeline. Read More

 

Acacia Capital Acquires Pleasanton Multifamily for $128

San Mateo-based Acacia Capital acquired Park Hacienda, a 540-unit apartment community in Pleasanton, CA for $248 million, which equals around $459,000 per unit. Read More

 

See All California Commercial Real Estate News 2019

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