[ad_1]
T.The Conejo Valley office market struggled in the fourth quarter. Tenants returned approximately 158,000 square feet, and the vacancy rate jumped to 27.6% from 20.4% last quarter. There were no new office products under construction. Asking rents were down 1 cent sequentially but increased 3 cents year over year to $2.74 per square foot. In the industrial market, the vacancy rate rose to 4.1% from 0.5% a year earlier. 
Main event:
Office property at 5655 Lindero Canyon Road, Village Green Office Park.In Westlake Village, purchased by Garden Communities California from Nash Properties for $40 million.
A 104,267 square foot industrial property at 3500 Willow Lane in Thousand Oaks sold for $40 million. willow hurst sold the property to Human Resources Institute. Lee Law Office I represented the seller. Majiro Commercial Co., Ltd. Represented a buyer in a transaction.
ofThe office vacancy rate in the fourth quarter surged to 32.3% from 19.7% in the previous quarter and 19.3% in the previous year. Asking rents were stable quarter-to-quarter, increasing 5 cents year-over-year to $2.72 per square foot. There were no new office products under construction. 
Main event:
The Williams Ranch Community celebrated its grand opening in the Santa Clarita Valley.Created by a Santa Clarita-based builder Williams Homes, a master planned community located at 28801 Husley Canyon Road. Castaic has 497 single family homes on 430 acres.
A 24,270 square foot retail facility at 24075 Magic Mountain Parkway in Valencia sold for $20 million. Purchased by Greenlaw Partners from Pradeep Bakshi.
A total of 46,857 square feet of industrial space was sold or leased in High Desert in the fourth quarter. The vacancy rate was 2%, up from 1.9% in the previous quarter, but down from 2.6% a year earlier. Asking rents increased 30 cents year-over-year to $1.15 per square foot. 
Main event:
Three undeveloped parcels totaling 23 acres in Palmdale sold for a combined $7.3 million. The three properties are part of the Palmdale Trade and Commerce Center. P&L Realty LLC I got the site from SYCG-MGP Palmdale I LLC.
Investment in Bridge Group and Burbank-based Steerpoint Capital Acquired Palmdale’s Antelope Valley Mall for $60 million. The two companies plan to find new tenants for the mall’s vacant Mervyn megastore and enhance the facility with additional amenities and a new food court.
〇Office tenants returned approximately 48,000 square feet in the fourth quarter.
The vacancy rate rose to 23.6% from 17.6% last quarter and 16.4% last year. Asking rents decreased 1 cent sequentially and 5 cents year-over-year to $2.67 per square foot. The industrial market has a vacancy rate of just 0.6%.
Main event:
Owner of the Los Angeles Rams Stan Kroenke Expanded the Warner Center portfolio with the purchase of The Village Shopping Center in Canoga Park for $325 million. According to the seller Univers – Rodamco – Westfield, it represents the second largest shopping center transaction in the country this year. The company sold Santa Anita Mall to Wen Shanchang for his $538 million in August. Kroenke has also purchased several other properties in nearby areas, leading to speculation of planned developments in the area.
calabasas base Agora Realty & Management Acquired a 75,000 square foot medical office building in Tarzana for $30 million. The three-story Tarzana Medical Plaza at 5525 Etiwanda Avenue is 90% occupied. Tenant including PLovidence Healthcare System, Cedars Sinai Medical Care When Unilab Co., Ltd.
Jagdish & Usha K. Varma purchased a 60-unit apartment at 4805 N. Bachman Street in North Hollywood. hillock land company $29.3 million.
Ganar Lumber Co., Ltd. purchased an industrial building at 18537 Parthenia Street in Northridge. Northridge Lumber Co., Ltd. $9.05 million.
A 2,500-square-foot convenience store and full-size service station at 9108 De Soto Ave. was net-leased to Chatsworth’s 7-Eleven and sold for $4.6 million. NAI Capital Commercial Senior Vice President, Investment Services Group Mehran Phoroi In this transaction, we represented the purchaser, a private investor based in California. Alex Kozakov When Patrick Wade of CBRE Group Ltd. represent the seller, Desoto Holding.
M.Tenants occupy approximately 348,000 square feet in Burbank; and
Glendale. Glendale’s vacancy rate rose to 25.2% and Burbank’s vacancy rate rose to 16.5%. In Burbank, asking rents were $4.40 per square foot, up 37 cents a year. In Glendale, asking rents were $3.32 per square foot, up 13 cents a year.
Main event:
BLT Enterprise Acquired seven industrial and creative office properties for $130 million. Among the assets is his 10,246-square-foot warehouse building at 2901 Thornton Avenue in Burbank.
Brooklyn Co. An office property at 40 E. Verdugo Ave. in Burbank Lion Real Estate Group $14.2 million.
Built in 1946 at 132 N. Maryland Ave. in Glendale, the 27,080-square-foot retail facility aengus o’neill dun for $8 million.
45 unit condominium at 1550 Verdugo Rd.sold in glendale Falke & Maria S. Sikder To Walker Family Trust Survivor Trust A $16.2 million.
[ad_2]
Source link