SALES
1
CBRE Group Inc.
AREA LEADERS
LEW HORNE
MARK READ
Executive Managing Director, Greater L.A. and Orange County
Senior Managing Director, San Diego
TOP-PRODUCING SALES BROKERS
Total Dollar Volume of Sales Closed: $4.80 Billion
From July 2010 through June 2011, CBRE completed 734 investment transactions totaling 50. 55 million square feet. Among those deals, CBRE arranged the
sale of the Cajon Distribution Center, a 1.4-million-square-foot class A industrial
park in San Bernardino. The transaction was executed just six months after the
brokerage firm completed a lease to Hewlett-Packard Co. at the property.
The firm also completed the sale of the Parsons Campus in Pasadena for $320 million, one of the
largest deals in L.A. County since the AON Center trade in October 2007. Morgan Stanley and Lincoln
Property Co. bought the 22.7-acre, three-building, 900,000-square-foot campus.
This year began with a lot of optimism in the investment market, creating a dramatic improvement over
2009 and 2010, according to Lew Horne, executive managing director for Greater L.A. and Orange
County. “Favorable debt terms helped drive activity among investors, particularly in the core market where
the majority of deals are getting done.” With that said, Horne notes, “Optimism has waned as growing
economic uncertainty in the latter part of the year creates challenges in underwriting market fundamentals. As an investment class, however, real estate continues to be viewed as safer than the alternatives.”
DARLA LONGO
Vice President
KEVIN SHANNON
Vice President
PHIL VOORHEES
Executive Vice President
2
Marcus & Millichap Real Estate Investment Services
AREA LEADERS
JOHN J. KERIN
WILLIAM E. HUGHES
KENT WILLIAMS
President and Chief Executive Officer
Senior Vice President and Managing Director
Senior Vice President and Managing Director
Total Dollar Volume of Sales Closed: $2.50 Billion
TOP-PRODUCING SALES BROKERS
From July 2010 through June 2011, Marcus & Millichap
Real Estate Investment Services completed a total of
941 sales. The firm brokered a $100-million deal where
New York City-based Clarion paid all cash for a three-property multifamily and seniors housing portfolio.
The properties, all with occupancy rates above 95%,
are the Green Apartments in Rancho Cucamonga,
Buena Vida at Towne Center in Rancho Santa Margarita
and Oak View of Sonoma Hills. The seller was Kisco
Senior Living.
In another portfolio sale for $86.1-million, the firm
sold the California portion of the A-American Self Storage
Portfolio, which consisted of 29 assets. In all, 42 facilities in
California, Hawaii and Illinois traded for $164 million.
Among the asset types, apartment properties, says Kent
Williams, senior vice president and managing director, “have
been sought after by investors,” and they “will offer the most
GREG HARRIS
Executive Vice President,
Investments
RONALD HARRIS
Executive Vice President,
Investments
ALVIN MANSOUR
Senior Vice President,
Investments
upside.” He adds, “If retail sales remain strong through the
holiday season, property fundamentals should improve. We are
also seeing pockets of new ground-floor urban infill retail development in L.A. Lending criteria have loosened, which will fuel
greater retail acquisition activity in the next 12 months.” (For
more on Marcus & Millichap, see the cover story, page 46.)
