Los Angeles Business Journal

LA REAL ESTATE

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

Shop Buyer Might Have Mixed-Use Plan in Store

REAL ESTATE: Sunset Strip property could welcome retail-hospitality project.Buyer may use gift shop site to mix it up on Sunset Strip with retail-hospitality project.

By Hannah Miet August 31, 2015 midnight   $$ Share

Creative Office Wave Hits Torrance

The creative office conversion craze that has swept through Santa Monica, Playa Vista and El Segundo is reaching deeper into the South Bay, if a recent sale in Torrance is any indication.

Foursquare Echo Park Portfolio Sold

Developer Fred Afari has snatched up International Church of the Foursquare Gospel’s 15-property portfolio in Echo Park, paying nearly $18 million for the package.

Palisades Office Project Sells for $53 Million

Lincoln Property Co. and Linwood Investments have sold a 103,800-square-foot, Class A creative office campus in Pacific Palisades to New York real estate equity firm Brickman for $53 million, or roughly $500 a square foot.

WeWork to Lease Space in Gas Co. Tower

WeWork, a New York operator of co-working facilities, is close to signing a lease for roughly 90,000 square feet at the Gas Co. Tower in downtown Los Angeles, according to sources with knowledge of the deal.

Design Firm DLR to Consolidate in Downtown L.A.

Santa Monica design firm DLR Group is moving its regional California office to downtown Los Angeles.

Tishman Gets Creative in El Segundo

After getting a taste of the creative office market in Playa Vista, New York real estate firm Tishman Speyer set its sights on the blossoming market in El Segundo.

Onni Group Makes Manhattan Beach Office Move

A Canadian developer snatched up a Manhattan Beach office property for roughly $96 million at auction last week.

CBRE Group Acquires PKF Canada

CBRE Group Inc. announced Tuesday it had acquired PKF Consulting Inc.’s Canadian operations, known as PKF Canada, for an undisclosed sum.

Beverly Hills Office Trades at Premium Price

Cain Hoy Enterprises, a Greenwich, Conn., private investment firm, shelled out $130 million for the 118,400-square-foot Class A office building at 100 N. Crescent Drive. The seller, New York’s Clarion Partners, purchased the building in 2012 for $80 million, a 63 percent return in three years.

Cal State L.A. Opening Downtown Campus

Cal State Los Angeles is opening a campus in downtown Los Angeles, having signed a 10-year lease late last month for 21,000 square feet at 801 S. Grand Ave. in the Financial District.

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.