Los Angeles Business Journal

LA REAL ESTATE

Recent and archived news stories on: Apartments, Architecture, Brokers, Construction, Housing, Mortgages, Offices, Property Management, Realtors...

Surprise Knock From Rent Control

REAL ESTATE: Buyer of CIM property jolted by designation.The buyer of a Hollywood apartment just built by CIM Group was surprised to learn it was rent controlled.

By James Rufus Koren June 29, 2015 midnight   $$ Share

Culver City Business Park Sold for $37 Million

Karney Management Co., a Brentwood firm run by Aliza Karney Guren and her sister, Susanna Karney Flaster, has set its sights on Culver City.

Alibaba Signs Pasadena Lease

Chinese e-commerce giant Alibaba Group is coming to Los Angeles.

Mariners Bay Apartment Complex Trades for $83.5 Million

Legacy Partners has expanded its presence in Southern California with the purchase of a 31-acre apartment complex on the Marina del Rey waterfront.

Laurus Buys Hughes Promenade for $111 Million

Laurus Corp. has acquired the Promenade at Howard Hughes Center, a retail hub located along the 405 freeway at Center Drive, from Irvine investment firm Passco Cos. for $111 million.

Tutor Perini Wins $600 Million Project

A subsidiary of Tutor Perini Corp. has won a construction management contract for a confidential research facility in California.

DoubleLine Doubles Down at Wells Fargo Center

DoubleLine Capital, an investment management firm headed by billionaire Jeffrey Gundlach, is expanding its headquarters in downtown L.A.’s Wells Fargo Center.

Redondo Site To Get Creative Overhaul

Santa Monica investment, management and development firm Montana Avenue Capital Partners plans to turn a 50,000-square-foot Class C industrial building it purchased in Redondo Beach into creative office space.

SBE Moves Into Residential, Sells South Beach Hotel

L.A. hospitality giant SBE Entertainment Group, looking to push forward in a new direction in the wake of Sam Nazarian’s return as chief executive, is now in the business of flipping high-end residential real estate properties.

Earthquake Engineers Shake Up Downtown Lease

Miyamoto International Inc., a Sacramento global structural engineering firm, will move into downtown L.A.’s Aon Center skyscraper.

More Investment Sales Action in Pasadena

Pasadena is heating up. In the latest deal to hit the market, Zurich Alternative Asset Management last week sold its office building at 350 W. Colorado Blvd. for $34 million to an unnamed investment group. That deal, at $385 a square foot, was well above the average of $293 a foot paid last year in the submarket.

Hudson Pacific Buys Arts District’s Coke Plant

That didn’t take long. The partnership of Goldstein Plating Investments and Atlas Capital Group has flipped the Coca-Cola manufacturing plant at 963 E. Fourth St. in downtown L.A.’s Arts District it acquired a little more than a year ago.

Aecom to Lease at One California Plaza

Century City engineering and construction giant Aecom is close to signing a lease for more than 110,000 square feet at One California Plaza.

Princely Asking Price for King of Pop’s Former Kingdom

Michael Jackson’s former ranch home, Neverland, is up for sale at $100 million by billionaire Tom Barrack’s investment firm Colony Capital, which has a stake in the property.

Miracle Mile Office Tower Trades for $150 Million

A joint venture of San Francisco’s Swig Co. and Boston’s Intercontinental Real Estate Corp. has purchased 6300 Wilshire Blvd. in the Miracle Mile in a $150 million deal, or roughly $371 a square foot.

NoHo Commons Retail Center Sells for $43 Million

The NoHo Commons retail center, a seminal North Hollywood development, has been acquired by an Orange County investment firm for $43 million, or about $681 a square foot, according to real estate data provider CoStar Group Inc.