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Monday, 01 July 2002

West Regional Digest (7/2/02): Construction Begins on $125Mln Hollywood Project

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July 2, 2002

Construction begins on $125Mln Hollywood project

HOLLYWOOD, Calif. – Bond Capital Ltd. and partners Canyon-Johnson Urban Fund, California State Teachers' Retirement System and HW Marketplace have begun construction of Sunset & Vine, a $125 million, 620,000-square-foot mixed-use urban village. The project will include more than 300 apartments and 90,000 sf of entertainment/retail space covering an entire city block. The project is being developed on the site of the old America Broadcasting Co. and Merv Griffin studios. Over 60 percent of the retail space is already rented to anchor tenants Bed Bath & Beyond and Borders Books, to be joined by other bread and butter tenants such as coffee bars, restaurants and service businesses that are geared to the needs of those who live and work in the area, rather than tourists.


Warner Music signs $120Mln lease deal in Burbank, Calif.
Los Angeles Times

BURBANK, Calif. – Warner Music Group has agreed to become the lead tenant at Burbank's newest office complex. The multi-label recording group, whose artists include Madonna and the Hives, will consolidate several offices at the Pinnacle, a six-story development along the Ventura Freeway at West Olive Avenue. The deal, valued at an estimated $120 million, is thought to be the biggest office lease in the Southland in 2002 and may hold that distinction through what has so far been a fairly slow year for landlords. Warner Music is the first large office tenant to agree to move into the first phase of the Pinnacle, just completed by Santa Monica-based M. David Paul Development. The 17-year lease will fill 195,000 sf of customized offices – about half of the $80 million complex's leasable space.


Watson buys land in Inland Empire
Los Angeles Times

INLAND EMPIRE, Calif. – Industrial developer Watson Land Co. has acquired a 32-acre parcel near the giant Kaiser Commerce Center in the Inland Empire for $7.3 million. The San Bernardino County site with frontage along the 10 Freeway near Etiwanda Avenue can accommodate a combination of industrial, office, retail and hotel development. Officials with Carson-based Watson Land said the firm has already been approached by several retailers.


Social Security signs lease in Santa Ana, Calif.

SANTA ANA, Calif. – A Social Security Agency of the U.S. Government has signed a 10-year, 21,441-sf lease for the fifth floor of the high-rise building at 1851 E. First St. beginning this July. The $7.2 million lease transaction was completed by Steve Lane of Voit Commercial Brokerage's Irvine Metro office, who represented the Social Security Agency.


Burke affiliate sells Garden Grove, Calif., industrial park

GARDEN GROVE, Calif. – An affiliate of Burke Real Estate Group has sold an eight-building, 67,452-sf industrial park for $5.4 million. The buildings are at 10532-10722 Trask Ave. Mike Bouma, Randy Wind and Brian Williams of Voit Commercial Brokerage's Anaheim Metro office represented the seller in the transactions. The buildings were sold separately to warehousing, distribution and light manufacturing companies, some of which include Absolute Communications, Data Discount and Pacific Machine.


Commercial Real Estate Direct provides links to full stories where available.


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  • Subject: Property Acquisitions (ACQ), West Regional Digest (WDIG)
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Data Digest

 

CMBS DELINQUENCY VOLUME

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CMBS SPECIAL SERVICING VOLUME

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Top Bookrunners Domestic, Private-Label CMBS - 2017
Investment Bank #Deals Vol$mln MktShr%
Goldman Sachs 17.59 11,819.34 13.68
JPMorgan Securities 14.52 10,968.11 12.70
Citigroup 12.04 10,012.71 11.59
Wells Fargo Securities 14.02 9,936.06 11.50
Deutsche Bank 12.55 9,879.74 11.44

 

RCA CPPI

 

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CMBS 2.0 Spreads

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Top CMBS Loan Contributors - 2017
Lender #Loans Vol$mln MktShr%
Goldman Sachs 146.89 11,719.34 13.63
JPMorgan Chase Bank 117.68 10,114.14 11.76
Deutsche Bank 198.48 9,689.97 11.27
Morgan Stanley 166.18 8,539.78 9.93
Citigroup 199.05 8,088.24 9.41

 

 

 

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