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

Spotify Moves to 110,000 SF in Arts District

Spotify has signed a lease for nearly 110,000 square feet to house its regional headquarters in the Arts District’s At Mateo development.

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Office Building in Hollywood Sets Record With $4.1 Million Sale

A 4,300-square-foot office building at 6507-6509 De Longpre Ave. in Hollywood has sold for $4.1 million, or about $949 per square foot, in what is believed to be a per-square-footage price record in that office submarket.

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Favorable Ruling for Palladium Residences Project

Los Angeles city officials followed state environmental laws when they approved the Palladium Residences, a pair of 30-story, 731-apartment towers near the Hollywood Palladium on Sunset Boulevard, a judge has ruled.

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Harbor Gateway Industrial Property Sells for $21M

CenterPoint Properties, an Oak Brook, Ill.-based real estate investment firm, has purchased a 126,000-square-foot industrial property at 13217 S. Figueroa St. in the Harbor Gateway neighborhood for $21 million, or about $167 per square foot.

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Chinatown’s Pacific Alliance Hospital Sold for $33M

Allied Pacific IPA, an Alhambra-based health maintenance organization, has purchased the site of Pacific Alliance Medical Center – a 90,000-square-foot hospital at 531 W. College St. in Chinatown – for $33 million, or nearly $367 per square foot.

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Citigroup to Exit Citigroup Center; Taking New Lease at One Cal Plaza

Citigroup Inc. is moving out of the Citigroup Center at 444 S. Flower St. in downtown Los Angeles to 29,000 square feet at nearby One California Plaza at 300 S. Grand Ave., according to sources.

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Beyond Meat Increases Manufacturing Operations

El Segundo-based Beyond Meat Inc., producers of plant-based meat substitute products is expanding its manufacturing footprint threefold, the company announced June 29.

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Crenshaw Plaza Remodel Approved

The Los Angeles City Council has approved the Baldwin Hills Crenshaw Plaza overhaul, which would include a new hotel, a 10-story office tower, more than 900 units of housing as well as outdoor ground-level retail.

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Bellami Hair Relocates to 23,000 SF in El Segundo

Bellami Hair, a major supplier of hair extensions, is moving its headquarters from Simi Valley to El Segundo, where it will sublease 23,000 square feet of space on the PCT campus at 222 N. Sepulveda Blvd.

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Law Firm Pays $28.5M for Bebe Studio

The law firm of Elkins Kalt Weintraub Reuben Gartside is the buyer of Bebe Stores Inc.’s design studio at 10345 W. Olympic Blvd in Century City.

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$29M for Three-Story Office on Westside

Beverly Hills-based Cambra Realty has purchased a three-story, 50,000-square-foot office building at 10301 W. Pico Blvd. near Century City for $29 million from the limited partnership Papazian-Hirsch Pico, sources said.

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New CEO for Anworth Mortgage

Anworth Mortgage Asset Corp., a Santa Monica-based real estate investment trust, announced that Joseph McAdams will become company’s chief executive effective Sept. 30.

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IPO in the Works for Cushman & Wakefield

Cushman & Wakefield has filed paperwork with the Securities and Exchange Commission for its proposed initial public offering, the commercial real estate brokerage announced.

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WC+A Moving to Row DTLA

Advertising and graphic design studio Williams Corsi & Associates will move in September to 12,000 square feet at Row DTLA, located at 777 S. Alameda St. in downtown Los Angeles, after signing a 5-year lease.

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$40 Million Fund Launched for Real Estate Startups, Tech

CBRE Group Inc., RXR Realty and Cushman & Wakefield are investors in MetaProp

New York-based real estate venture capital firm MetaProp has launched a $40 million fund that has attracted CBRE Group Inc., RXR Realty and Cushman & Wakefield.

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