Stories for October 1997
Monday, October 20
A few years ago, Montrose Shopping Park looked like it might become a ghost town.
In the face of new shopping center alternatives, like Santa Monica's Third Street Promenade and entertainment-heavy Universal CityWalk, more and more traditional malls are repositioning themselves to remain competitive.
Industrial tenants continue to line up for buildings in the San Gabriel Valley, driving down the area's vacancy rate to the lowest level in years and triggering new development.
The real estate rebound being seen elsewhere in the Los Angeles area is taking its time in the South Bay, where overall office vacancy rates are the highest in the county.
The San Fernando Valley's office and industrial real estate market showed steady improvement in the third quarter, as demand for space accelerated with the improving economy.
Eastern Ventura County, which for years has been a strong office market, is starting to pick up in the retail side as well.
Also in the third quarter, long-running saga of the Playa Vista project continued to unfold as lenders, investors and developer Robert Maguire circled each other, each in search of the best deal.
Acquisition of Los Angeles County property by real estate investment trusts during the July-to-September period surged 50 percent over the second quarter, according to preliminary figures provided by Alliance Capital/CB Commercial.
After years of depressed conditions due to departures out of downtown, the office vacancy rate fell to 17.1 percent in the third quarter, according to Grubb & Ellis Co., with several major deals being transacted.
When Jessica Provenz headed to Santa Monica's Third Street Promenade last weekend to go shopping, she wasn't looking for clothes as much as an experience.
The construction of the new sports arena in downtown Los Angeles may act as a catalyst for an even larger ambition: the development of Figueroa Street as a entertainment-oriented shopping street.
The rising tide of international trade through local seaports has ignited a boom in the Mid-Counties industrial market.
As Los Angeles continues its urban sprawl, commercial real estate in the Santa Clarita Valley continues to thrive. Corporate relocations and industrial expansions in the northern reaches of Los Angeles County are lowering vacancy rates and triggering cons
After taking its customary summer breather, the Inland Empire real estate juggernaut has picked up enough steam to finish with another strong year.
When it comes to designing old-fashioned "Main Street" retail projects, one of the nation's most highly regarded architects is Richard Huelsman, president of West Los Angeles-based MCG Architects.
The 10-mile Wilshire Corridor, stretching westward from downtown Los Angeles to Beverly Hills, remains an area in flux.
After a summer hiatus, the controversial Village Center Westwood project moved forward again last week when developer Ira Smedra submitted a revised Environmental Impact Report to the city of Los Angeles.
The Westside is the kind of real estate market brokers and investors dream about: rising rents, buildings bulging with tenants, and speculative fever getting hotter by the minute.