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9/3/2010 - Colliers Taps Pinsel as Managing Dir. of Inland Empire
Colliers International promoted two senior executives in its Ontario and Encino offices.
David Pinsel was named managing director of the Inland Empire. He will oversee the sales team in Inland Empire and continue as managing director of investments...
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9/3/2010 - LaSalle Acquires Three Hotels for $292.5M
LaSalle Hotel Properties has completed the acquisition of two hotels in Philadelphia and one in San Francisco, while selling off an asset in New Jersey.
The Bethesda, MD-based hospitality REIT acquired the 294-room Westin Philadelphia and the 288-room...
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9/2/2010 - CoStar's People of Note (Aug. 29-Sept. 4)
This week's People of Note includes the following markets: Atlanta, Milwaukee/Madison and Washington, DC.
ATLANTA
Green Bldg. Expert Joins Grubb's Office Group
Grubb & Ellis Co. appointed Greg O’Brien as senior vice president of the office group...
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9/1/2010 - Tyco Thermal Controls Buys Redwood City Industrial
Tyco Thermal Controls Inc., a long-term tenant of close to 30 years, exercised its option to purchase 947 Douglas Ave. in Redwood City, CA, from Raj Chabra for $2.6 million in cash, or about $228 per square foot, after a 14-month escrow period.
The...
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9/1/2010 - Bank Watch: Regulator Says Bankers, Not Bricks, Main Reason Behind Most Bank Failures
Don't blame the current wave of bank failures on commercial real estate; much of the blame belongs to bad bankers.
While it is clear that commercial real estate and construction and land development loans have figured in most every bank failure in...
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9/1/2010 - Custom Comfort Mattress Leases 27,300-SF
Custom Comfort Mattress, a manufacturer and retailer of mattresses, signed a 27,300-square-foot lease at 575-585 N. Batavia St. in Orange, CA, for two years.The company is relocating its manufacturing division from Anaheim.
The 72,000-square-foot...
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9/1/2010 - Pool Water Products Buys Van Nuys Industrial
Pool Water Products acquired an industrial building at 8151 Orion Ave. in Van Nuys, CA, from Heller Trust for $3.3 million, or about $165 per square foot.
The property consists of a 20,000-square-foot building on 0.9 acres completed in 1975. Pool...
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9/1/2010 - Modular Wind Energy Leases 168,000-SF Facility
Modular Wind Energy (MWE) has leased the 167,778-square-foot industrial facility at 5800 Skylab Road in Huntington Beach, CA. The locally based wind turbine manufacturer signed a five-year deal worth more than $4.9 million.
It is the largest lease...
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9/1/2010 - Self Storage Facility Sells for $5.1M
Union Development Co. purchased the self-storage facility at 14750 Foothill Blvd. in Fontana, CA, for $5.08 million, or $56 per square foot, from First Choice Storage. The investment property was the buyer's upleg in a 1031 exchange.
Built in 2001...
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9/1/2010 - Ontario REO Retail Sells for $11.8M
Oxylane Groupe, a French sporting goods chain, purchased the REO retail center at 701-769 N Milliken Ave. in Ontario, CA, for $11.75 million, or about $90 per square foot, from LNR Partners Inc. The buyer plans on using a portion of the home furnishing...
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8/31/2010 - Escondido Union High School Buys Office for $3.5M
The Escodido Union High School District acquired the two-story, 25,400-square-foot office building at 220 W. Crest St. in Escondido, CA, from private investors for $3.5 million, or $138 per square foot.
The school district plans to do some remodeling...
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8/31/2010 - Location Matters Adds Senior VP of Investment Sales
Location Matter's Restaurant & Retail brokerage are bringing in Larry Bogle as senior vice president of the new Investment Sales Division.
Bogle has worked on commercial investment transactions around San Diego since 1984. He will primarily be representing...
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8/31/2010 - Long Beach Senior Living Facility Sells for $8M
Sunny Hills Palladium LLC purchased the senior living facility at 3360 Magnolia Ave. in Long Beach, CA, from Richard J. Scotti Trust for $8 million, or about $43,011 per unit. The buyer paid cash for the property.
The senior living facility has 186...
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8/31/2010 - Santa Ana Industrial Deal Worth $1.3M
Cornerstone Realty Fund purchased the industrial building at 1830 South Santa Fe St. in Santa Ana, CA, for $1.32 million, or about $100 per square foot.
The 13,200-square-foot building was delivered in 1975 and was 100% leased at the time of sale...
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8/31/2010 - Deloitte Leases 166,435 SF in San Francisco
Deloitte finalized its 15-year, 166,435-square-foot lease with Tishman Speyer at 555 Mission St. in San Francisco. The major international accounting and consulting firm will occupy nine full floors (four through seven and 10-15) with a move in date scheduled...
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