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"The supply of industrial space continues to shrink on the Peninsula as buildings are demolished for higher and better use," said Mark Melbye, a broker with Kidder Mathews who represented the buyers in the purchase and is handling the leasing efforts.
Waterford Residential LLC has acquired Dover Shores Apartment Homes, an 18-unit community in Newport Beach, Calif., for $8 million. Kidder Mathews represented the seller, a private investor, as well a
This is the first time the property has been on the market in 42 years. Assets of this size are unique in Newport Beach, and rarely become available.
According to Kidder Mathews, more than 4.1 million square feet of space were leased in 2017. Rental rates were up more than 5 percent to an average of $25.88 per square foot, though rents north of $30 per square foot are quickly becoming the norm.
The Eastside market has been active over the last several months. According to a fourth quarter 2017 Real Estate Market Review report written by Kidder Mathews, the Eastside office market ended 2017 with inventory totaling just less than 50.5 million square feet.
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The seller was a private investor. Kidder Mathews' multifamily brokers, Steven C. Brombal and Joshua Y. Rhee, represented both parties in the transaction.
Kids Empire, a children's indoor playground, has signed a 10-year lease, with two 10-year options, in the Plaza Di Northridge shopping center in Northridge, California.
The Bill Naito Award is presented to the CAB member/s who successfully closed the most complex real estate transaction of the year.
Kidder Mathews brokers, Mike Ciosek, Eric Bell and Dylan Scott, negotiated the purchase of a 50,000 square-foot manufacturing facility located at 3831 South Bullard Avenue in Goodyear, Arizona, on behalf of IAC Industries.
The 102,859 square-foot Rosenthal Portfolio is located in the East Los Angeles / Boyle Heights area, known for older, manufacturing buildings catering to the apparel industry. It is rare that a property of this size sells in this submarket.
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