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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.

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.

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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Developer Buys Units at Universal Lofts

BLDG Partners has purchased 52 remaining live-work units at the Universal Lofts complex in Studio City in a $39 million acquisition, according to the Real Deal.

Tech Expedites Non-Traditional Home Sales

REAL ESTATE: Entrepreneurs disrupt brokerage business.

How proptech is changing the way people buy a new home.

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.

Virtual Leasing

MARKETING: COVID-19 deepens brokers’ utilization of video technology.

Coronavirus pandemic spurs the popularity of using technology to visit rental spaces virtually.

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.

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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Beacon Capital Buys Glendale Office Building for $160 Million

Beacon Capital Partners will buy the 22-story office tower that once served as the U.S. headquarters for Nestlé from Piedmont Office Realty Trust for a reported $160 million, or $303 per square foot.

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Warner Center Multifamily Complex Sells for $93 Million

Carillon Apartment Homes, a class A, 264-unit multifamily property in Woodland Hills, has sold for $93 million or $352,272 per unit.

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Santa Clarita’s Economic Forecast: Still Sunny

OUTLOOK: New hospital projects, industrial sites, to stimulate growth.

A booming 2018: That’s the trajectory for Santa Clarita as it continues growth in all sectors.

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.

MWest Holdings Buys Canoga Park Townhouses for $12 Million

Los Angeles-based MWest Holdings has acquired Sunset Gardens, a 42-unit townhome community in Canoga Park, for $12 million, according to the company.

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Housing Development to Go Up in Chatsworth

A Newport Beach firm has acquired its first Los Angeles County homesite with the goal of bringing 50 luxury homes online in Chatsworth by next year.

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Q2: Industrial is Tight

A few substantial changes in vacancy rates in the office and industrial sectors while inventory remained low on the industrial side characterized the commercial real estate market during the second quarter, according to statistics provided by Colliers International and conversations with well-placed brokers in the region.

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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