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.
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.
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.
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.
The real estate market in Los Angeles County is expansive with a diverse array of submarkets all featuring unique characteristics and component parts.
Strong employment boosts self-storage sector, prompts addition of 588,000 SF in L.A. County
Storage space market lifted by strong job market.
Deals for studio space highlight robust demand, constraints
Recent real estate deals by Netflix highlight hot market, constrained outlook on studio space.
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.
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.
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.
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.
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.
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.
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.
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.