Yearly Archives: 2015

Senior Vice President Steve Heri and Vice President Steve Gim, both with NAI Capital represented Newport Coast-based investor El Rey Properties, LLC in their purchase of a single-story 59,909 square foot former Mervyn's building at Ridgecrest Town Center. The seller was China Lake 700, LLC. The purchase price totalled $5.8M or $97.44 per square foot.

The Proposition 1 water bond is legislation for all California citizens, including Native American Tribal Governments that are eligible grantees for funding under this initiative. This week, several state agencies will host a forum to share information about the $7.45 billion general obligation bond approved by voters last November and designed to improve the state’s water supply, quality and infrastructure.

June is National Homeownership month, the market is turning around and there are thousands of families who can now take advantage of low interest rates and down payment assistance to make the jump from renting to owning.

Mayor Edwin M. Lee today issued the following statement regarding an additional $50 million in bonding capacity, allowing the proposed Affordable Housing Bond for the November 2015 ballot to reach $300 million without raising property taxes

Jenn Pfeiffer, Marin local and long-time REALTOR, has joined the growing roster at Zephyr Real Estate’s all-new Marin office in Greenbrae. She brings an extensive background in residential real estate, marketing, real estate appraisal and the management of investment properties.

Todd Renfrew, broker and owner of California Outdoor Properties, represented the buyer in the sale of an historic turn of the century ranch at the base of Bennett Mountain andAnnadel State Park. The property was listed at $7,750,000 and includes an established winery and equestrian facilities.

City Attorney Dennis Herrera has sued San Francisco landlord Anne Kihagi for an egregious pattern of unlawful business practices that includes waging "a war of harassment, intimidation, and retaliation" against tenants to force them from their rent-controlled homes. Once vacated, according to Herrera's complaint, Kihagi offers the apartments to new tenants at substantially higher rents

the Interior Department’s Bureau of Land Management (BLM) announced its decision to move forward with a modified version of the Soda Mountain Solar Project, widely regarded as the most controversial renewable energy project in the Country. The Interior Department’s decision to issue a final environmental impact report recommending the project be approved less than a quarter mile from Mojave National Preserve comes after nearly 19 months of deliberation

Senator Dianne Feinstein (D-Calif.) today applauded the opening of Building 209, which will provide housing for homeless veterans at the West Los Angeles Veterans Affairs Campus. Feinstein has worked closely with the Department of Veterans of Affairs to complete the project

NAI Capital is pleased to announce that Senior Associate Matt Ehrlich arranged an 11 year lease on behalf Excel Studios at 9310 Topanga Canyon Boulevard in the city of Chatsworth, Calif. Ehrlich also represented the landlord Jamad Enterprises, LLC. The 8,756 square foot lease transaction was valued at $1.7 million.

Congressman Ted W. Lieu (D – Los Angeles) issued the following statement regarding today’s Gate Opening Ceremony, Welcome Center Ribbon Cutting, and Long Term Supportive Housing Grand Opening at the West Los Angeles VA Medical Center. The event is hosted by Robert A. McDonald, Secretary, U.S. Department of Veterans Affairs

Congressman McClintock introduced an amendment to H.R. 2577 - FY16 Transportation, Housing & Urban Development Appropriations Act to eliminate funding for the "Essential Air Service" program. The amendment was defeated by a vote of 166 to 255.

With the California housing market continuing its upward trend, pending home sales registered their fifth straight annual gain, with the last three months being in the double-digits, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) said today

The CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) today hailed the defeat of Senate Bill (SB) 364 (Leno) in the State Legislature this week. The bill would have eliminated property rights protections for owners of rental property and significantly discouraged efforts to create new rental housing in the city and county of San Francisco

Thursday, June 04, 2015– Senior vice presidents John Bosko and Bob Bush, both with NAI Capital represented Michigan-based Charles J. Long Trust in the disposition of Laguna Hill Medical Arts Building B, a single two story medical office building located in the Laguna Hills/Aliso Viejo submarket of Orange Country, CA. The project is just 2 blocks from the Saddleback Memorial Hospital and just outside gate 4 of Leisure World Laguna Woods. Occupancy was 86% at the time of sale.

National commercial real estate investment banking firm George Smith Partners has named three new Principals for the firm. The three new Principals, Bryan Shaffer, Jonathan Lee and Shahin Yazdi, join the firms existing Principals Steve Bram, Gary E. Mozer, David Rifkind, Gary M. Tenzer and Malcolm Davies

Mariko Beaver has joined NAI Capital’s Orange County office as senior vice president bringing with her 15 years of experience in medical office leasing and sales. With having completed over $500 million in transactions, she will continue to focus on the medical office market servicing clients throughout the Southern California region

The City of Riverside has delayed to June 16 a public hearing on whether to create a community facilities district for the proposed Arroyo Park development near Jurupa Avenue and Van Buren Boulevard.

The Sacramento Marina is gearing up for what they are calling “the best season” since 2005. Despite low lake and river levels in the drought, the Sacramento Marina is among several marinas in the Sacramento/Delta area that are fortunate to have enough water for boating this summer. Combined with lower gas prices and recently added amenities, the City’s marina manager expects a busy boating season.

The California State Senate and Assembly took a critical step towards building a clean energy future by passing out of their houses of origin several significant bills that will continue California’s climate change leadership. The Senate bills will now move over to the Assembly for consideration and vice versa.