Rancho Palos Verdes
REAL ESTATE
Raising Cane’s in Carson Sold for $7.5MM, Completing Buyer’s 1031 Exchange
CBRE has announced the sale of a single-tenant net lease property, occupied by Raising Cane’s Chicken Fingers Drive-Thru, in Carson, Calif. The property sold for $7.53 million, representing a cap rate of 4.65%. CBRE’s Senior Associate George Felix and Executive Vice President Dan Blackwell represented the buyer, a repeat...
Column: Long Beach needs tens of thousands of new homes to address the housing crisis
Last week I wrote a column about how other cities are building tens of thousands of new homes to address the housing crisis. Long Beach has been lagging far behind the production in cities like San Diego and Oakland. Just 635 homes were permitted in 2023, according to housingdata.app. That’s not enough.
New 163-Unit Affordable Housing Project Breaks Ground in Long Beach's Midtown
The City of Long Beach has officially embarked on a journey to expand its affordable housing inventory with the groundbreaking of 1400 Long Beach, a new 163-unit complex catering to low-income families. Located in the heart of Midtown, the project aims to transform a previously vacant lot into a community-enhancing residential space. Mayor Rex Richardson, at the ceremony said, "We are thrilled to begin construction for this exciting project in Midtown," and emphasized the city's ongoing mission toward increasing affordable housing availability.
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