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Montrose Multifamily Property Sells

Calabasas-based Marcus & Millichap has announced the sale of 2387 Florencita Dr. in Montrose for $3.3 million.

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Marcus & Millichap Division Expands to Edmonton

Institutional Property Advisors, a division of Marcus & Millichap Inc. in Calabasas, announced Wednesday that Edmonton, Alberta-based multifamily investment advisory team Bradley Gingerich, Paul Chaput, Bradyn Arth and Jane Woertman have joined the firm.

Marcus & Millichap Acquires Vancouver Firm

Calabasas-based national brokerage firm Marcus & Millichap Inc. has announced that it acquired Form Real Estate Advisors Inc., a commercial real estate services firm in Vancouver, British Columbia, that specializes in retail transactions and advisory services.

Chinese Real Estate Investment Nosedives

Chinese investment in U.S. real estate last year declined by more than half, according to a Cushman & Wakefield report.

Mall of America Owner May Buy Former Rocketdyne Site

The Canadian owner of the Mall of America is negotiating to buy one of the largest redevelopment sites in Los Angeles: the former rocket-engine manufacturing site of Aerojet Rocketdyne, according to CoStar Group.

Space for E-commerce

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.

Van Nuys Icehouse Sells for $2.9 Million

A Van Nuys warehouse that is home to ice manufacturers has sold for $2.9 million (or $202 a square foot) in a deal closed Feb. 21, according to CoStar Group.

Tarzana Car Wash and Falafel Stand Make Way for Apartments

Crazy Falafel, a popular falafel and kabob stand, and its host business Crazy Car Wash in Tarzana will be demolished to make space for 59 apartments after receiving Los Angeles City Council’s approval.

Lee & Associates Promotes Four to Principal Status

Commercial real estate brokerage Lee & Associates-LA North/Ventura has promoted four agents to principal status, growing its team of senior brokers to 29.

Forecast: National Economy, Local Real Estate Stay Strong

The economy may be showing signs of a slowdown, but the underlying fundamentals are strong. That was the takeaway from City National Bank’s Economic & Investment Forum, held Thursday at Four Seasons Westlake Village.

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Impact on Industrial

REAL ESTATE: Manufacturing could rebound and e-commerce expand; meanwhile, deals dry up.

Industrial property transactions dry up as coronavirus pandemic continues.

Xebec to Renovate Chatsworth Warehouse for E-commerce

Xebec Realty has announced the purchase of an industrial facility in Chatsworth, which the Dallas-based real estate investment company plans to renovate for e-commerce deliveries.

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Landsea Sells More Houses During Crisis

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.

Valley Economic Alliance Recommends Changes to L.A.’s Building Permit Process

The Valley Economic Alliance has presented 13 recommendations for permit reform to the city of Los Angeles in an effort to streamline the current real estate development and building process.

Around the Valleys

News and notes from the greater San Fernando Valley

Camarillo Apartment Complex Sells for $96 Million

In Camarillo, a 213-apartment complex known as Las Positas has garnered $95.75 million, or $449,530 per unit.

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Large Companies Learn to Ratchet Up Growth

LIST: Expansion at scale occurs in essential sectors such as tools and trucking.

It’s a major milestone for small businesses to execute a strategy for fast growth, but large companies in the Valley have learned to grow at double-digit rates despite their bulk.

Gelt and Uhon Secure $83 Million Bridge Loan for Watermark Project

Real estate developers Gelt Inc. and Uhon have secured $83 million in bridge refinancing on behalf of its joint venture The Watermark Apartments in Reseda.

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Mixed-Use Project to Bring 244 Apartments to Warner Center

Montecito-based Levine Family Properties LLC is proposing to create a 244-unit development at 21201 W. Victory Blvd. in Woodland Hills.

Battle Brewing Over 120-Year-Old Camarillo Farmhouse

A pair of conservation groups have moved to save a 120-year-old Scholle farmhouse in Camarillo that is slated to be razed for the final element of a mixed-use project currently in development, according to a Camarillo Acorn report.