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Xebec Sells Amazon Warehouse in Chatsworth for $74 Million | San Fernando Valley Business Journal


Chatsworth warehouse
A 221,842-square-foot industrial facility leased by Amazon.com Inc. in Chatsworth has sold for $74 million, or roughly $334 per square foot.
Intercontinental Real Estate Corp. purchased the distribution building, which is located at 20730 Prairie St., from Xebec Realty Partners.
According to a CoStar Group report, the deal was brokered by Darla Longo, Barbara Perrier, Brett Hartzell, Joe Cesta, Rebecca Perlmutter, Eric Cox, Bennett Robinson and Gregg Haly of CBRE on behalf of Xebec Realty Partners while buyer Intercontinental represented itself in the transaction.
Xebec acquired the vacant industrial site, currently fully occupied by Amazon on a triple-net lease, in December 2018 for $37 million, or roughly $167 per square foot. Soon after, the developer revitalized the warehouse, completing the work last year. ....

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Insurance costs threaten Florida real-estate boom


| 4/26/2021
Insurance costs threaten Florida real-estate boom
Florida’s property-insurance market is headed toward a crisis, as mounting carrier losses and rising premiums threaten the state’s booming real-estate market, according to insurance executives and industry analysts. Longtime homeowners are getting socked with double-digit rate increases or notices that their policies won’t be renewed. Out-of-state home buyers who have flocked to Florida during the pandemic are experiencing sticker shock. Insurers that are swimming in red ink are cutting back coverage in certain geographic areas to shore up their finances. [Source: Wall Street Journal]
March home prices broke records across the state ....

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Hoboken's luxury rental 7 Seventy House ends 2020 on a high note


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