A map of opportunity zones (Credit: Enterprise Community Partners and iStock) The rush to buy Opportunity Zones sites has already begun, but then what? Investors have started buying up properties and vacant land in designated Opportunity Zones sites around the country, even though some have no set plan about what they will build, according to […]
Three car dealerships dealt for $61M in West Covina
Left: 2010 East Garvey Avenue, Right: 1829 East Garvey Avenue, Bottom: 2016 East Garvey Avenue South (Credit: Google Maps) Buckle up, West Covina. Three auto dealerships along Garvey Avenue changed hands this month for a total of $61.2 million. Ayman Sarriedine, who controls a Mercedes-Benz dealership in Escondido, purchased the properties from Roger Penske, Jr., […]
UPS makes play for 90-acre Boeing site in Long Beach
A Boeing C-17 Globemaster and the main assembly building at Boeing’s Long Beach property with CEO Dennis A. Muilenburg and UPS CEO David Abney United Parcel Service has made a bid for a large aircraft manufacturing facility in Long Beach owned by aerospace giant Boeing. UPS said it’s been eyeing the 90-acre site since Boeing […]
CIM mulls sale of former Trump Soho hotel
The Dominick at 246 Spring Street CIM Group might not own the former Trump Soho Hotel for much longer. The Los Angeles-based company is considering selling the property at 246 Spring Street, now known as the Dominick, according to Bloomberg. They have already contacted potential buyers for it. The building stands 46 stories tall and […]
‘Cannabis landlord’ denied license while in jail on drug charges
Stephanie Smith, the self-proclaimed largest cannabis landlord in California (Credit: Facebook) It was a tough week for Stephanie Smith, a real estate developer who claims to be the largest cannabis landlord in California. San Bernardino city council members denied her bid for a license to manufacture marijuana. And police jailed her after raiding her home […]
Inland Empire leads nation in major warehouse leases
David Egan, CBRE’s head of industrial and logistics research (Credit: Wikipedia) The Inland Empire area claimed more major warehouse deals than any other market in the country last year. The submarket west of Los Angeles led all markets with 20 of the top 100 deals in the nation, according to CBRE. It was able to […]