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Real estate developments in Southern California.(SOUTHERN CALIF.)
Kiplinger California Letter, The, April, 2007
An office building is planned on rare undeveloped Burbank land. Higgins Development Partners' $130-million project will occupy 6.5 acres in the Media District, where the vacancy rate is a very low 3%.
Palmdale will benefit from Northrop Grumman's Air Force contract for five more Global Hawk spy planes. In Palmdale, wings and electronics are added to the fuselage, which is sent from a Moss Point, Miss., plant.
Senior housing is hot. A private investor won a bidding contest among worldwide financiers for an 812-unit senior-housing portfolio sold by Urbatec of Encino. The eight properties sold for $70.8 million.
Shopping malls are doing well. Crossroads Marketplace in Chino Hills was sold for more than $73 million, or $278 per sq. ft. Investors...
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