Los Angeles Business Journal


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Hotel Developer Has More Rooms

Kambiz Hekmat checks into Westwood with Old World influence guiding project.Hotel developer Kambiz Hekmat had no reservations about putting his new project in Westwood.

By Daina Beth Solomon January 6, 2017 midnight   $$ Share
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Jump in Mortgage Rates Hits Home With Hunters

REAL ESTATE: Prospect of continued rise has some buyers in rush to move in.

Some house hunters fear rising mortgage rates may lock them out of a dream home.

Chargers Seal Deal on Move to Los Angeles

After numerous failed attempts to land a new stadium in their longtime San Diego home, the Chargers have decided to flee the coop and move to Los Angeles.

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George Lucas Selects Los Angeles for Museum of Narrative Art

Los Angeles has won the battle to become home to filmmaker George Lucas’s $1 billion art museum.

Netflix Nabs New Space in Hollywood

Netflix Inc. just put another spotlight on its Hollywood real estate romance. The video streaming company has signed a deal for the full five floors at Cue office building, bringing its total Hollywood footprint to more than 500,000 square feet.

Pasadena Development Site Sells for $16.6 Million

Pasadena has again proved itself a prime target for multifamily developers. A 1.27-acre site on South Lake Avenue near Caltech sold last month for $16.55 million, said listing broker Laurie Lustig-Bower, an executive vice president at CBRE, who fielded offers from nearly 20 prospective buyers over just a couple of months.

Corporate Pointe Office Owners Go Creative with ‘Corporate’ Switch to ‘Culver’

Remaking Pointe

Owners of office buildings at Corporate Pointe aim to build up with a new name and focus on creative space.

Measure S Opponents Agree to Change Ballot Argument Language

Opponents of a ballot measure that would limit development in Los Angeles announced late Wednesday that they have reached an agreement to change the language of their ballot argument to settle a lawsuit brought last month by supporters.

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Deed Shows $270 Million Price Tag in Spruce Goose Hangar Sale

The 1940s-era Spruce Goose hangar in Playa Vista sold last week for close to $270 million, on par with the values of modern office campuses that have recently traded in the trendy market.

NMS Properties Booted as Rental Managers During Ownership Dispute

A judge has agreed to boot Santa Monica developer Neil Shekhter’s NMS Properties from eight properties it manages in Los Angeles while an ownership dispute plays out in the courts.

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San Diego Chargers Agree to Orange County Office Lease

Although the San Diego Chargers have not yet pulled the plug on their hometown, the team is making plans for a possible move to Los Angeles.

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Spruce Goose Hangar in Playa Vista Sells to Japanese Investor

A Japanese investor has swooped into Playa Vista, purchasing the former Spruce Goose hangar that is leased to Google.

Court Hits Pause on Judgment Stripping Real Estate Developer of Nine Properties

An appellate court agreed Tuesday to temporarily halt a trial court’s order stripping control of nine multifamily buildings from Santa Monica developer Neil Shekhter and his NMS Properties Inc. until the judicial panel examines the case more closely.

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Fandango Moving to Larger Headquarters in Beverly Hills

Fandango is making moves to bulk up. The online movie-ticket seller just signed a lease for a new space in Beverly Hills that is about twice the size of its current headquarters in West L.A.

Hotel Happy Rivals Checking in to Hollywood

Some new competitors are coming to the neighborhood of the W Hollywood, but the hotel’s general manager is welcoming them, their restaurants, and shops with open arms.