#commercial-real-est

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Rexford Buys Anaheim, South El Monte Industrial Sites

Rexford Industrial Realty has purchased two industrial sites in South El Monte and Anaheim for a total of $69.5 million.
Both sites are slated for redevelopment, with plans to build a 264,000-square-foot building in Anaheim and a 102,000-square-foot warehouse in South El Monte.

Brookfield DTLA towers lead SoCal's top defaults in 2023

A wave of borrowers in Los Angeles and Orange County defaulted on loans tied to commercial properties as they struggled to make mortgage payments.
Brookfield Properties defaulted on $1.1 billion worth of debt tied to three office towers in Downtown L.A. due to rising interest rates.

Harbor and F&F pay $45M for office building in Westwood

Harbor Associates and F&F Capital Group have picked up a 164,700-square-foot distressed office building in Westwood for $44.7 million nearly 52 percent less than it traded for five years ago.

Not at the bottom yet: SF office vacancy hits record high

Office vacancy rate in the city rose to 35.9% in Q4 2023, an increase from the previous quarter's rate of 34%.
A total of 6.7 million square feet of office space came on the market in 2023, largely due to large sublease spaces being placed on the market and leases expiring.
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