Advertisement

Legacy Partners, a privately-owned national real estate firm, has announced the closing of a ground lease for a 2.81-acre property in Monrovia, adjacent to the city's new light rail station.  The San Francisco-based company is partnering with Griffin Capital and Silverpeak Real Estate Partners to develop MODA at Monrovia Station, a 261-unit multifamily residential development.

The project, which is scheduled for completion in early 2018, would include state-of-the-art appliances and finishes, as well as amenities such as a clubhouse, a fitness center, two landscaped courtyards and a 4,000-square-foot roof terrace.  An artistic rendering from Architects Orange portrays MODA as a contemporary five-story building.

The proposed development would be among the first new developments in a transit-oriented district which is planned around Monrovia Station, which is served by the 31-mile Gold Line.

This Week in Leases - September 22, 2018

The Pacific Design Center's RedBuilding fills out.
bar

Independent entertainment company A24 will relocate its offices to the Pacific Design Center's RedBuilding in West Hollywood.  The company, which is relocating from an existing facility on Beverly Boulevard, has leased the entire 12th floor of the RedBuilding, amounting to a 25,000-square-foot office.