Kearny Real Estate Co

Kearny Real Estate Co. said it has launched a $30-million remodeling of a 300,000-square-foot office complex in east Pasadena. The first phase of work at Pasadena Corporate Park--which is at Foothill Boulevard and Halstead Street--will include the renovation of a nearly empty 138,000-square-foot building and the demolition of an industrial structure. The renovation of a third building--a 115,000-square-foot structure occupied by Xerox Corp.--is scheduled to begin next year.

The former North American headquarters of Nissan Motor Co. in the South Bay is being acquired by a Los Angeles real estate developer for more than $75 million. Kearny Real Estate Co., which specializes in improving and repositioning large Southern California real estate assets, will spend as much as $10 million to "freshen up" the 1970s-vintage, 42-acre office and industrial campus before putting the buildings on the market for lease or sale, Kearny Managing Partner Jeff Dritley said Wednesday.

The Warner View Corporate Center in Woodland Hills has been purchased by Kearny Real Estate Co. of Los Angeles from CalPac Enterprises Inc. for an undisclosed sum. The 6-million-square-foot building is located at 5959 Topanga Canyon Blvd. Kearny was represented by Madison Partners and the seller was represented by Lee & Associates.

Kearney Real Estate Co. and financial partner Morgan Stanley will buy Warner Center Business Park in Woodland Hills for about $55 million, according to real estate investment professionals tracking the transaction. Executives at Century City-based Kearny acknowledged that they have signed an agreement to acquire about 15 low-rise office buildings in the heart of the Warner Center commercial district.

Infonet Services Corp. purchased its newly built corporate headquarters in El Segundo from Los Angeles-based Kearny Real Estate Co., an affiliate of Morgan Stanley Real Estate Funds, for $33 million, according to a Kearny announcement. The 156,000-square-foot, three-story building at Grand Avenue and Nash Street is part of a 23-acre master-planned development known as the Super Block and was developed by Kearny as a build-to-suit for Infonet, Kearny Vice President Greg Galusha said.

The former North American headquarters of Nissan Motor Co. in the South Bay is being acquired by a Los Angeles real estate developer for more than $75 million. Kearny Real Estate Co., which specializes in improving and repositioning large Southern California real estate assets, will spend as much as $10 million to "freshen up" the 1970s-vintage, 42-acre office and industrial campus before putting the buildings on the market for lease or sale, Kearny Managing Partner Jeff Dritley said Wednesday.

Developers have announced a 1.1-million-square-foot speculative industrial project in Ontario and a 412,580-square-foot build-to-suit industrial development in Temecula as the Inland Empire continues its growth as one of the country's leading warehousing and distribution centers.

Kearney Real Estate Co. and financial partner Morgan Stanley will buy Warner Center Business Park in Woodland Hills for about $55 million, according to real estate investment professionals tracking the transaction. Executives at Century City-based Kearny acknowledged that they have signed an agreement to acquire about 15 low-rise office buildings in the heart of the Warner Center commercial district.

Prompted by the planned expansion of Los Angeles International Airport, a local real estate partnership said it plans to redevelop the Northrop Grumman Corp. electronics complex in Hawthorne into an $80-million air freight facility. Kearny Real Estate Co., a subsidiary of Morgan Stanley Real Estate Fund, and developer Overton Moore & Associates, have agreed to purchase the 60-acre site where it will build the 1-million-square-foot facility, said David Drummond of the Seeley Co.

A Los Angeles firm has been named property manager and leasing agent of Ventura Gateway, a troubled strip mall in Oxnard. The 6-year-old center is only 46% occupied. It is one of three Southern California projects owned by L. A.-based Kearny Street Real Estate Co. that will be managed by Standard Management Co. Kearny Street, a unit of the Morgan Stanley Real Estate Fund, also placed Standard in charge of retail centers in Cathedral City and Perris.

Developers have announced a 1.1-million-square-foot speculative industrial project in Ontario and a 412,580-square-foot build-to-suit industrial development in Temecula as the Inland Empire continues its growth as one of the country's leading warehousing and distribution centers.

The Warner View Corporate Center in Woodland Hills has been purchased by Kearny Real Estate Co. of Los Angeles from CalPac Enterprises Inc. for an undisclosed sum. The 6-million-square-foot building is located at 5959 Topanga Canyon Blvd. Kearny was represented by Madison Partners and the seller was represented by Lee & Associates.

Infonet Services Corp. purchased its newly built corporate headquarters in El Segundo from Los Angeles-based Kearny Real Estate Co., an affiliate of Morgan Stanley Real Estate Funds, for $33 million, according to a Kearny announcement. The 156,000-square-foot, three-story building at Grand Avenue and Nash Street is part of a 23-acre master-planned development known as the Super Block and was developed by Kearny as a build-to-suit for Infonet, Kearny Vice President Greg Galusha said.

Kearny Real Estate Co. said it has launched a $30-million remodeling of a 300,000-square-foot office complex in east Pasadena. The first phase of work at Pasadena Corporate Park--which is at Foothill Boulevard and Halstead Street--will include the renovation of a nearly empty 138,000-square-foot building and the demolition of an industrial structure. The renovation of a third building--a 115,000-square-foot structure occupied by Xerox Corp.--is scheduled to begin next year.

A proposed 23-acre development that would include a National Hockey League-sized rink and larger Olympic-sized ice skating facility for the Los Angeles Kings and a basketball court for the Los Angeles Lakers will be unveiled before the Planning Commission tonight. Kearny Real Estate Co., a development company working with the Kings, has proposed building a state-of-the-art training facility on undeveloped land on Nash Street between Grand Avenue and Mariposa Street.

Kearny Real Estate Co. sold a 6-acre parcel near Long Beach Marina on behalf of Morgan Stanley Real Estate Funds to a joint venture of Long Beach-based Koenig Cos. and Rich Development Co. The principals did not disclose the purchase price, but real estate industry sources placed the value at $7 million.