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03/22/2017
Developer Unveils $250M Plan to Rescue Financially Listing Queen Mary Attraction
A Los Angeles real estate investment and development company has announced a rescue plan for the Queen Mary, which as a tourist attraction has often navigated through a sea of red ink over the decades since she moored for the last time in the Port of...

03/22/2017
Gavina Gourmet Coffee Leases 104,000 SF in Vernon
Gavina Gourmet Coffee, a coffee roasting and wholesale distribution company, signed a five-year lease for the 104,110-square-foot industrial building at 2726 Fruitland Ave. in Vernon, CA. The industrial facility was constructed in 1948 on 3.8 acres...

03/22/2017
DivcoWest Pays $179M for Glendale High-Rise
DivcoWest acquired the Glendale Plaza office building at 655 N. Central Ave. in Glendale, CA for $179 million, or about $327 per square foot, from PGIM Real Estate. Prudential Insurance Company of America acquired the asset back in 2006 for approximately...

03/21/2017
Top Commercial Real Estate Firms and Brokers in Los Angeles Win CoStar Power Broker Awards
Several top firms and real estate brokers in Los Angeles are among the winners of the annual CoStar Power Broker Awards. Now in its 16th year, the awards recognize those who perform at the highest levels in commercial real estate brokerage. Every...

03/21/2017
Cushman & Wakefield Expands West Coast Valuation & Advisory Platform
Cushman & Wakefield has made three strategic hires to expand leadership of its valuation and advisory platform along the West Coast. Steve Henry, MAI and Melissa Lofing, MAI join the commercial real estate services firm as managing directors in its...

03/20/2017
Office Lease Up (March 20) Goldman Sachs Agrees to Relocate Dallas Offices from Las Colinas to 170,000 SF at Trammell Crow Center
J.P. Morgan Asset Management locked up a new anchor tenant at the company's Trammell Crow Center in downtown Dallas with the signing of Goldman Sachs to a 170,000-square-foot lease. Goldman Sachs (NYSE: GS) is scheduled to relocate by Q1 2018 from...

03/17/2017
Lee, Yazdi Appointed to Co-Managers at George Smith Partners
George Smith Partners, a nationwide commercial mortgage banking firm, has promoted principals Jonathan Lee and Shahin Yazdi to co-managing directors in the firm's Los Angeles, CA office. In their new roles, Lee and Yazdi will be responsible for driving...

03/17/2017
CoStar's People of Note (Mar. 17) - Colliers Florida Announces New Statewide Leadership, Principals Named at Lee & Associates, Next Realty
It's time to update those contact managers with CoStar's People of Note, reporting news on significant new CRE hires and promotions. This week's issue includes the following markets: Tampa / St. Petersburg, San Diego, Washington DC, Raleigh / Durham...

03/14/2017
Tokio Marine Leases 32,000 SF at 801 Tower
Tokio Marine HCC, an international specialty insurance group, signed an 11-year lease for 32,172 square feet in the 801 Tower office building at 801 S. Figueroa St. in Los Angeles, CA. The 25-story tower totals 458,570 square feet and was constructed...

03/14/2017
Sunstone Sells Fairmont Newport Beach Hotel for $125M
WJ Newport LLC acquired the 444-room Fairmont Newport Beach hotel at 4500 Macarthur Blvd. in Newport Beach, CA from Sunstone Hotel Investors, Inc. for $125 million, or about $282,000 per key. The sales price represents a 16x multiple on 2016 Hotel...

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