A 96-unit apartment building in Van Nuys has sold for just over $19.3 million, or $200,337 a unit.
DEVELOPMENT: Reseda and Canoga Park enjoy surge of apartment building.
The bedroom communities of Canoga Park and Reseda may seem sleepy by comparison to North Hollywood or Woodland Hills, yet there is more going on than meets the eye in these Valley neighborhoods, with new commercial and residential developments, purchases and overhauls in recent months.
RESIDENTIAL: Landlords say new rules promote lawsuits and non-payment of rent.
Since March, the state of California has sought to protect residential tenants from landlord abuse by imposing moratoriums on rent hikes and evictions as they navigate the coronavirus crisis.
STAFFING: Federal contracts, IT work buoy company through crisis.
A solid first quarter and several major government contracts will help ASGN Inc. weather the Coronavirus storm.
REAL ESTATE: Shopping center owners face lower income and rising costs.
Even prior to the coronavirus crisis, retail centers faced monumental challenges from Amazon.com Inc.-led e-commerce. Now, with the pandemic triggering an unprecedented shutdown of business, many retail tenants — from high-profile national chains to independent business owners — are requesting deferments or abatements on rent, putting landlords in a serious bind.
Trammell Crow, Clarion advance on second phase of buildout for industrial park in Santa Clarita Valley.
Trammell Crow and Clarion Partners announced mid-May that they are in the throes of closing escrow on a 137-acre piece of real estate at Center at Needham Ranch that will pave the way for the completion of the 252-acre industrial park’s second phase.
Developer moves inventory in Chatsworth and Simi Valley.
Landsea Homes continues to make waves in the Southern California residential real estate market with three more houses sold in Chatsworth.
Ventura County apartments trade for $92 million.
The Artisan at East Village in Oxnard has sold for $92 million, or $339,154 per unit, in one of the highest payouts ever for a Ventura County commercial property, according to CoStar Group.
Amazon.com Inc. is ready for a major Santa Clarita Valley presence.
Shopping mall developer Unibail-Rodamco-Westfield has unveiled new illustrations for Promenade 2035, its 34-acre mixed-use complex in Warner Center that will replace the current Westfield Promenade mall.
Camarillo-based Casa Pacifica Centers for Children and Families, a crisis-care and residential treatment facility for foster or at-risk children, announced Tuesday a transition in its leadership.
Parkview East Apartments in Sunland has sold for $11.7 million, according to Encino-based Matthews Real Estate Investment Services.
Stay-at-home orders in April negatively impacted San Fernando Valley’s real estate market, according to a Southland Regional Association of Realtors report, which showed a 47 percent drop in the number of houses and condominiums sold for the month.
A retail portfolio of two adjacent parcels totaling 52,260 square feet of land has traded hands in North Hills for $6.3 million.
The former home of Weider Health & Fitness in Warner Center has sold for $12.8 million, according to Jim Markel, vice president and regional manager of Marcus & Millichap’s Encino office.
The Greater Conejo Valley Chamber of Commerce Foundation, in partnership with the cities of Thousand Oaks, Westlake Village and Agoura Hills, has created a relief fund to help local small businesses endure the financial impact of the COVID-19 pandemic.
Trammell Crow and Clarion Partners have closed escrow on a 137-acre parcel of land at Center at Needham Ranch that will pave the way for the completion of the 252-acre industrial park’s second phase.
REAL ESTATE: Less demand, more concessions in future.
New market environment for office tenants in a post-pandemic world.
CONSTRUCTION: Upgrades and apartments dot map in North Valley market.
Panorama City has followed the North Hollywood formula of a former industrial area prime for redevelopment with a residential twist.
One Baxter Way residential component remains 240 units.
Developer Kennedy Wilson has submitted new designs for a residential project at One Baxter Way, the Thousand Oaks business park near Westlake Boulevard and the 101 freeway.
Nonprofit hopes to raise money to purchase land.
The Bothwell Ranch Foundation, a new San Fernando Valley-based nonprofit aimed at preserving the Valley’s last commercial orange grove in Tarzana, has formally launched.
Developer secures $59 million to build 299 Thousand Oaks.
A rare and ambitious multifamily endeavor is underway in Thousand Oaks.
The Artisan at East Village in Oxnard has sold for $92 million, or $339,154 per unit, in one of the highest payouts ever for a Ventura County commercial property, according to a CoStar Group report.
For 20 years, Ice Station Valencia has thrived in the heart of Santa Clarita Valley. Today, it faces imminent closure if a buyer does not step forward, according to owner Roger Perez.
A 10-unit multifamily property in North Hollywood has sold for $2. 38 million, despite complications from the coronavirus.
Ventura County is moving forward on its Somis Ranch project, a housing development designed to provide 360 residential units for farmworkers.
An eight-unit multifamily property at 14533 Dickens St. in Van Nuys has sold for $1.95 million, or $243,750 per unit.
A multifamily portfolio consisting of nine complexes stretching throughout the San Fernando Valley has sold for $20.2 million.
The Latigo Group has made progress on its Thousand Oaks mixed-use project as Dekel Capital has arranged a $59 million construction loan for the Los Angeles-based developer.
MARKETING: COVID-19 deepens brokers’ utilization of video technology.
Coronavirus pandemic spurs the popularity of using technology to visit rental spaces virtually.
With the coronavirus crisis encouraging online shopping, companies from Amazon.com to local businesses are in the market for warehouses.
With Amazon.com Inc. leading the way, online retailers are taking up warehouse space in the greater Valley region.
Real estate firms predict economic disruption in Valley office markets.
Real estate firms predict economic disruption in Valley office markets.
The coronavirus has accelerated the trend toward e-commerce in the Valley economy, with the primary beneficiary Amazon.com Inc.
John Stankey, head of WarnerMedia, which includes Burbank-based Warner Bros. Entertainment, will become chief executive of AT&T Inc. by July 1.
The Bothwell Ranch Foundation, a new San Fernando Valley-based nonprofit aimed at preserving what was once the Valley’s last commercial orange grove in Tarzana, has formally launched.
The Verona, a 16-unit multifamily property in Westlake Village, has sold for $8.15 million, according to listing brokerage Marcus & Millichap Inc. in Calabasas.
Real estate developer Kennedy Wilson has submitted new designs for a residential project at One Baxter Way.
Real estate firm Universe Holdings has acquired a trio of multifamily properties in Granada Hills for $25.5 million.
Calabasas-based Marcus & Millichap has announced the sale of 2387 Florencita Dr. in Montrose for $3.3 million.
A 13,000-square-foot retail property, anchored by Walgreens and Yogurtland in Reseda, has sold for $9.3 million.
DEVELOPMENT: Limoneira has plans beyond the crisis for its big housing project in Santa Paula.
Limoneira Co. has plans for its big housing project in Santa Paula.
REAL ESTATE: Manufacturing could rebound and e-commerce expand; meanwhile, deals dry up.
Industrial property transactions dry up as coronavirus pandemic continues.
The Motel 6 in North Hills has sold for $9 million in a transaction that opened and closed during the coronavirus pandemic.
An 8,000-square-foot retail center in Camarillo has sold for $4.8 million, according to brokerage NAI Capital.
A 15,800-square-foot office building in Ventura County has sold for nearly $2.1 million.
Fountainhead Development of Newport Beach has sold a retail building for single-tenant Circle K convenience store and gas station in Valencia for $4 million.
A 158,885-square-foot office campus at 225 W. Hillcrest Drive in Thousand Oaks has sold for $21.6 million, according to brokerage Newmark Knight Frank.
New York City investment firm Blackstone has acquired two adjoining buildings in Van Nuys for $83 million.
A 15,025-square-foot office building in the West Hills market has sold for $4.3 million.