Los Angeles Business Journal

LA REAL ESTATE

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Future of Landmark Property on PCH a Mystery

ACQUISITION: Hayman pays $6 million for café owned by Thelma Todd.A storied property along Pacific Coast Highway that has seen its share of monkey business is about to take on a new role.

By Jonathan Diamond February 23, 2015 midnight   $$ Share

Iconic Mountaintop Broadcast Tower Site for Sale

One of America’s most historic and iconic broadcasting landmarks is for sale.

Florida Developer Lands Downtown L.A. Site

South Florida residential developer Crescent Heights has purchased a half-acre development site in downtown Los Angeles for $11.5 million. The property, at 1045 S. Olive St., at the corner of 11th Street, is four blocks east of the L.A. Live entertainment complex.

Storied PCH Property May Be Resurrected

A storied property along Pacific Coast Highway that has seen its share of monkey business is about to take on a new role.

Briefs: Live Nation Suit Dismissed, Engel & Völkers Opens in Beverly Hills, Guess Settles Suit

Court Rules in Favor of Live Nation: A federal court in Maryland yesterday ruled in favor of Beverly Hills concert giant Live Nation Entertainment Inc. and dismissed all claims in a lawsuit filed in 2009 by It’s My Party Inc. and It’s My Amphitheatre Inc., whose principal is concert promoter Seth Hurwitz. The lawsuit had alleged violations of federal and state antitrust laws.

Kite Signs Lease in El Segundo

Santa Monica biotech firm Kite Pharma Inc. has signed a lease for a commercial manufacturing facility in El Segundo near Los Angeles International Airport.

Krekorian Opposes Weddington Complex

Los Angeles City Councilman Paul Krekorian announced his formal opposition to a proposed senior condominium development at the Weddington Golf & Tennis complex in Studio City along the L.A. River.

Downtown Developer Buys Site of Popular USC Watering Hole

The site of popular USC hangout 901 Bar & Grill has been sold, and the deal might portend changes coming to the corner of South Figueroa and 30th streets.

CIM Turns Big Profit in Off-Market Deal

The former Beverly Grove home of the pension and health fund for the Directors Guild of America has been sold for $24 million by CIM Group Inc.

James Frost Promoted to COO of Tutor Perini

Tutor Perini Corp. has promoted longtime company executive James Frost to president and chief operating officer.

Larsen, Leading Downtown Broker, Lands at Avison Young

Jonathan Larsen, the former regional managing partner at DTZ/Cassidy Turley’s downtown L.A. office, has assumed the role of managing director and principal at Avison Young.

Hackman Sells Beats HQ in Culver City

Hackman Capital Partners, a West L.A. real estate investment and development firm that wagered on creative office space in Culver City nearly a decade ago, has seen its bet pay off.

Hollywood Company Plans Sun Valley Studio Complex

A Hollywood film and television production and rental company is proposing to build a 220,000-square-foot studio complex on 10 acres in Sun Valley.

Cerritos Industrial Site Trades for Premium Price

Newport Beach investor Alere Property Group bought the 17.5-acre Cerritos West Industrial Park late last month, banking on its ability to take advantage of a tight industrial market by raising rents.

Laurus Pays Top Dollar for Pasadena Office Property

Century City real estate investment and development firm Laurus Corp. has purchased a 163,000-square-foot, eight-story building in Pasadena for $52.5 million.

Playa Vista’s Reserve Sells for $316 Million

The Reserve, a nearly 400,000-square-foot creative office campus in Playa Vista, was sold last week to Atlanta real estate fund Invesco for $316 million. At about $790 a square foot, the price was among the highest paid for an office property in the region.