Property, Rentals, Transactions

Property, Rentals, Transactions

Counter to Utility Claims, Solar Users Provide Net Benefits

Solar panels provide pollution-free energy that delivers far-reaching benefits to the environment and the electric grid, said a new report released today by Environment California Research & Policy Center. The report outlines how solar panels on homes, schools and businesses often provide more benefits than they receive through programs like net metering, counter to utility claims that solar owners don’t pay their fair share

California housing affordability holds steady in third quarter as rising wages and lower interest...

Rising wages and slightly lower interest rates did little to improve California’s housing affordability, which remained flat compared to the previous quarter, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) said today.
Meridian Palmdale

Meridian Sells Dialysis Clinic in Palmdale, Calif. for $6.97 Million, 5.0% Cap Rate

Meridian, a full-service real estate developer and owner of medical real estate, is pleased to announce that it has closed escrow on the sale of its 13,750-square-foot dialysis clinic in Palmdale, Calif. The purchase price was $6.97 million, representing a cap rate of 5.0%. This is the second dialysis clinic that Meridian has sold this year. Earlier this year, Meridian sold a similar clinic in San Rafael, Calif.

C.A.R. installs 2017 Leadership team

The CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) today installed its 2017 Leadership Team. Leading the team is C.A.R. President Geoff McIntosh, a 30-year real estate veteran and broker in Southern California. Serving with McIntosh are President-elect Steve White, Treasurer Jared Martin, and Chief Executive Officer Joel Singer. The 2017 officers begin their official term this week at the close of the NATIONAL ASSOCIATION OF REALTORS® (NAR) Conference and Expo in Orlando, Fla.
Christine Velasquez

Meridian Expands Construction Division with Addition of Christine Velasquez as Project Manager

Meridian, a full-service real estate developer specializing in acquiring and developing real estate facilities for the healthcare sector, expands its construction project management division with the addition of Christine L. Velasquez, a well-respected senior-level real estate professional with a successful track record of over 15 years in business and community development, commercial real estate and project management in the Silicon Valley.
Solaris Apartments

Thompson | Dorfman Partners Doubles its Money on Sale of Apartment Community in Hayward,...

Thompson | Dorfman Partners, LLC (TDP), a San Francisco Bay Area real estate development and investment firm, through its TDT Ventures (TDT) subsidiary, and equity partner, BayNorth Capital of Boston, announced today that the venture sold a 68-unit apartment community in Alameda County, Calif., for $14,268,000, representing $209,824 per unit; $307 per square foot. TDT purchased Solaris Apartments in 2008 for $7.1 million.
Michelle Lagos

Healthcare Landlord Leasing Specialist Michelle Lagos Joins Meridian as Senior Asset Manager

Meridian, a full-service real estate developer specializing in acquiring and developing real estate facilities for the healthcare sector, announced today that healthcare leasing specialist Michelle Lagos was hired as the senior asset manager and will play an active role in the management of Meridian’s Southern California portfolio

C.A.R. Convenes “Housing Affordability and California’s Future” Real Estate Summit with Leading Experts in...

The CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) will present its second real estate summit at an event that will focus on housing affordability, the state’s most pressing housing issue. Industry leaders from financial institutions, government agencies, academia, real estate, public policy, business, and investing will engage in deliberate and impactful discussions with the goal of generating cogent action items for the state of California via the valuable input of stakeholders and thought leaders

California State Historical Resources Commission To Consider 25 Properties for Action

SACRAMENTO, Calif. - (RealEstateRama) -- The California State Historical Resources Commission (Commission) will consider 24 nominations for federal historic designation and one nomination for...

Amid declining affordability and tight housing supply, California pending home sales rise in September

California pending home sales improved from the previous month and year, however, overall market conditions appear to be slowing down and closed transactions plateauing, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) said today.
South Lake Ave Aerial

Hanley Investment Group Lists Rare Five-Acre Fee-Simple Ground Lease on South Lake Avenue in...

Hanley Investment Group Real Estate Advisors, a nationally-recognized real estate brokerage and advisory firm specializing in retail property sales, announced today that the firm is marketing for sale a rare fee-simple ground-lease opportunity on South Lake Avenue in Pasadena, Calif. The offering, which is currently unpriced, is for the fee-simple land underlying The Shops on Lake Avenue retail and parking and is shadow-anchored by Macy’s.
Evelyn Family Apts

ROEM Brings 116 New, Affordable, Multifamily Apartments to Mountain View

ROEM Development Corporation celebrated the groundbreaking of Evelyn Family Apartments on Wednesday, October 19. Located at the southwest intersection of East Evelyn Avenue and South Bernardo Avenue in the City of Mountain View, Evelyn Family Apartments will be an affordable multifamily apartment community on a 1.93 acre site. The development will offer studio, one, two and three-bedroom apartments to families making up to 60 percent of the Santa Clara County Area Median Income.

September home sales and price report

California existing home sales ticked up in September on a year-to-year basis for the first time in seven months as a shortage of homes available for sale continues to hold back the market, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) said today.
Krispy3a

Hanley Investment Group Lists For Sale Brand New Two-Tenant NNN Retail Property in Oxnard...

Hanley Investment Group Real Estate Advisors, a nationally-recognized real estate brokerage and advisory firm specializing in retail property sales, announced today that the firm is marketing for sale a newly-constructed two-tenant retail building occupied by WSS (Warehouse Shoe Sale) and Krispy Kreme Doughnuts, located at the signalized intersection of Vineyard Avenue and Riverpark Boulevard in Oxnard, Calif
ROEM Baldwin Park

New ROEM $27 Million Transit-Oriented, Sustainable Apartments Celebrate Grand Opening in Baldwin Park

On Thursday, October 13, 2016, the City of Baldwin Park and ROEM Corporation celebrated the grand opening of Metro Village. Located at the northeast corner of Ramona Boulevard and Maine Avenue, Metro Village is a new construction, mixed-use, affordable multifamily apartment community on a 1.01-acre site. Metro Village offers one, two, and three-bedroom apartments affordable to families making 60 percent or less of the Los Angeles County Area Median Income and 5,500 square feet of commerce retail space.
Starbucks

Capital Pacific Sells Starbucks in Greensboro, NC

Capital Pacific, a leading retail investment brokerage firm, recently brokered the sale of a 1,776 square foot Starbucks drive-thru in Greensboro, NC. This was the second time that Joe Caccamo of Capital Pacific has sold the asset. He first sold it in 2006 on behalf of the original developer. The property just sold again for $1,784,879 to a California-based investor.

IBHS and California Fair Plan Association Wildland Fire Summit

The Insurance Institute for Business & Home Safety (IBHS), the California Fair Plan Association, AonBenfield Company and Renaissance Re sponsored a California Executive Summit on Wildland Fire October 5-6 in Los Angeles.
Hesperia pad

Hanley Investment Group Negotiates Sale of Multi-Tenant Retail Pad, Shadow-Anchored by New Walmart Supercenter...

Hanley Investment Group Real Estate Advisors, a nationally-recognized real estate brokerage and advisory firm specializing in retail property sales, announced today that the firm represented the buyer and seller in the off-market sale of a 13,940-square-foot multi-tenant retail pad, shadow-anchored by a new Walmart Supercenter at 13325 Main Street in Hesperia, Calif. The sale price was $8.5 million, yielding a cap rate of 5.33 percent. The transaction represents a record-low cap rate for a fully-leased multi-tenant retail pad over 10,000 square feet in the Inland Empire since 2008, according to CoStar.

Hanley Investment Group Completes Sale of Rare Single-Tenant Enterprise Rent-A-Car in Redlands at 5.5%...

Hanley Investment Group Real Estate Advisors, a nationally-recognized real estate brokerage and advisory firm specializing in retail property sales, announced today that Senior Vice President Jeremy McChesney completed the sale of a rare single-tenant absolute net-leased Enterprise Rent-A-Car property in Redlands, Calif. The purchase price was $1,520,000, which represented a cap rate of 5.55% and $626 per square foot

C.A.R. releases its 2017 California Housing Market Forecast

Following a dip in home sales in 2016, California’s housing market will post a nominal increase in 2017, as supply shortages and affordability constraints hamper market activity, according to the "2017 California Housing Market Forecast," released today by the

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C.A.R. Business Products and WikiRealty Announce Partnership to Provide Neighborhood and...

Real Estate Business Services® Inc. (REBS®), a subsidiary of the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.), through its C.A.R. Business Products division, and WikiRealty announced they have formed a marketing agreement to promote WikiRealty’s online community that connects homebuyers with lifestyle neighborhood information such as nearby shopping, cultural, health, and outdoor spots.

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C.A.R. Business Products and WikiRealty Announce Partnership to Provide Neighborhood and...

Real Estate Business Services® Inc. (REBS®), a subsidiary of the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.), through its C.A.R. Business Products division, and WikiRealty announced they have formed a marketing agreement to promote WikiRealty’s online community that connects homebuyers with lifestyle neighborhood information such as nearby shopping, cultural, health, and outdoor spots.