REAL ESTATE

Recent and archived news stories on: Commercial real estate, residential real estate, housing, architecture, engineering, real estate brokers, construction, property development, property management

CIM Buys Historic Desmond Office and Retail Building in L.A.’s Miracle Mile District

Mid-Wilshire-based CIM Group Inc. acquired The Desmond, an 11-story, art deco office and retail building originally built in the late 1920s in the heart of the Los Angeles’ Miracle Mile district.

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Still Strong

Office market chalks up gain in average asking price despite additions of new space

Demand for office space in Los Angeles County continued to be strong enough to push rents higher despite new supply coming onto the market in the third quarter.

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Boyd and Team Join Kidder Mathews from Charles Dunn

Commercial real estate veteran Bill Boyd and several members of his Glendale office have joined the Seattle-based brokerage Kidder Mathews from Charles Dunn Co.

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Two-Story Property in Larchmont Village Sells for $23.5M

Malibu-based real estate investment firm Christina Development Corp. has purchased a two-story, 17,000-square-foot storefront retail and office building at 124-148 N. Larchmont Blvd. in Larchmont Village for $23.5 million, or roughly $1,372 per square foot.

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Real Estate Quarterly | Sunset Scene

The real estate market in Los Angeles County is expansive with a diverse array of submarkets all featuring unique characteristics and component parts.

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More to Store

Strong employment boosts self-storage sector, prompts addition of 588,000 SF in L.A. County

Storage space market lifted by strong job market.

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Net Gain?

Deals for studio space highlight robust demand, constraints

Recent real estate deals by Netflix highlight hot market, constrained outlook on studio space.

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Centered on Sunset

Strip redevelopment seen as providing WeHo anchor

A wave of hotels, luxury mixed-use projects, big-name retail and rising lease rates on office space point to the Sunset Strip’s burgeoning status as the epicenter of West Hollywood.

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Lowe Sells Two Roads to Hyatt for $480M

Firm says deal allows focus to shift from management to development; additional liquidity helpful

Brentwood-based real estate investment firm Lowe said its sale of the Two Roads Hospitality business it ran with San Francisco-based private equity firm Geolo Capital to Hyatt Hotels Corp., of Chicago, for $480 million is designed to raise liquidity to fund projects elsewhere.

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Parsons Joins Contractors in Exide Battery Clean Up

Parsons Environment and Infrastructure Group Inc., a unit of Pasadena-based Parsons Corp., has been added as a contractor to clean up properties near the former Exide Technologies battery recycling plant, the state Department of Toxic Substances Control announced Oct. 10.

Coffee Bean & Tea Leaf Planning Baldwin Hills HQ

International Coffee & Tea, which does business as The Coffee Bean & Tea Leaf, is planning to move out of the Wilshire Courtyard campus on the Miracle Mile and into a new corporate headquarters to be built on the 6000 block of West Jefferson Boulevard in the Baldwin Hills/Crenshaw neighborhood.

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Hudson Pacific Teams With German Firm to Buy S.F. Ferry Building for $291M

Westside-based developer Hudson Pacific Properties Inc. and Germany-based Allianz Real Estate have formed a joint venture to purchase San Francisco’s Ferry Building at 1 The Embarcadero, from Blackstone Group affiliate Equity Office for $291 million.

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Cost Keeps Big Renewals Ahead of Schedule

Report pegs average renewal for 75,000 SF or more at 22 months early

CBRE Research finds large office tenants in Los Angeles County renewing leases earlier.

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Netflix to Move into All 13 Stories at Hudson’s Epic in Hollywood

Netflix Inc. has agreed to an 11-year lease of the entirety of Epic, a 13-story, 328,000-square-foot office building located at 5901 Sunset Blvd. in Hollywood and owned by Hudson Pacific Properties.

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Hilton’s DoubleTree Suites in Santa Monica Sells for $154M

Canada-based hotelier Westmont Hospitality Group and New York-based real estate investment firm Square Mile Capital Management have purchased the eight-story, 253-room, 206,000-square-foot DoubleTree Suites by Hilton Hotel Santa Monica at 1707 4th St. for $154 million, or nearly $608,700 per room.

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