REAL ESTATE

Recent and archived news stories on: Commercial real estate, residential real estate, housing, architecture, engineering, real estate brokers, construction, property development, property management

Glove Maker Austin Pang Pays $13.4M for New Building in Industry

Hong Kong-based Austin Pang Gloves Manufacturing Corp. has purchased a newly-constructed, 72,000-square-foot building at 17343 Freedom Way in the City of Industry for $13.4 million or about $185 per square foot.

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L.A. Real Estate Developer Charged With Bribery

The FBI has arrested commercial real estate developer Arman Gabaee, co-founder and co-managing partner of the Hollywood-based Charles Co., on criminal charges alleging he illegally paid off a Los Angeles County government employee who negotiated leases on the county’s behalf.

LAFC Moving to 25K SF Space Downtown

Los Angeles Football Club has signed a lease for 25,000 square feet of office space to house its headquarters at 818 W. 7th St. in downtown Los Angeles, CBRE Group Inc. announced.

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CalSTRS Strikes Joint Venture With DivcoWest Real Estate

San Francisco-based investment firm DivcoWest Real Estate Services has entered into a $300 million joint venture with the California State Teachers’ Retirement System, which will focus on acquiring commercial real estate throughout the nation.

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Rexford Industrial Realty Buys 36-Acre Property in Commerce

REIT also picked up industrial space in Anaheim, sold Ontario properties

Rexford Industrial Realty Inc., a Westside-based real estate investment trust, has bought two industrial properties – one in Commerce, the other in Anaheim – for a total price of $127.1 million, the company announced.

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WeWork Donating Space to Clean Energy, Smart Manufacturing Group

WeWork Cos. Inc. is donating space at its 10250 Constellation Blvd location in Century City to house the headquarters of Clean Energy Smart Manufacturing Innovation Institute (CESMII), a $140 million partnership between UCLA, the City of Los Angeles, the U.S. Department of Energy and the private sector.

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Edelman Extends Lease for 30,500-SF Space at 5900 Wilshire

New York-based public relations and marketing company Edelman has signed a five-year extension of its lease at 5900 Wilshire Blvd on the Miracle Mile, landlord Ratkovich Co. announced.

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Two Hyatt-Branded Hotels in Development Near LAX

Dual-branded Hyatt hotels are under development near Los Angeles International Airport at 5959 W. Century Blvd, according to the hotel company and CaRE Development/5959, an affiliate of Westside-based California Real Estate Regional Center.

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AEG Proposes $1.2B Convention Center Expansion

Anschutz Entertainment Group has proposed a $1.2 billion expansion of the Los Angeles Convention Center that would add as much as 350,000 square feet to the facility, including 250,000 square feet of meeting rooms.

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Tech Co. Ring Moving to Hawthorne

Home security company Ring is moving its headquarters from Santa Monica to Hawthorne early next year, becoming the latest technology business to set up shop in the city that once was an aerospace hub.

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Hotel MdR in Marina del Rey Sells for $127 Million

London & Regional Properties, a United Kingdom-based real estate developer, has purchased its first U.S. hotel, the 283-room Hotel MdR – a DoubleTree by Hilton Hotel at 13480 Maxella Ave. in Marina del Rey, according to HFF Inc., a Dallas-based capital markets and commercial real estate brokerage firm.

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Pasadena Apartment Complex Acquired, Rebranded

Greensboro, N.C.-based real estate investment company Bell Partners Inc. has acquired its second Los Angeles County multifamily property, The Ellington, a 212-unit apartment complex at 3330 E. Foothill Blvd in Pasadena, and renamed it Bell Pasadena, for an undisclosed purchase price.

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Eight-Property Portfolio in L.A. County Sells for $162 Million

Van Nuys-based Sikand Properties has sold an eight-property portfolio of apartment buildings with 644 total units in Hollywood, Pasadena and elsewhere in Los Angeles County for nearly $162 million.

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DCT Deal Expands Prologis’ So Cal Real Estate Portfolio

Prologis Inc., a San Francisco-based real estate investment trust, announced it will purchase DCT Industrial Trust Inc. of Denver for $8.4 billion in a stock transaction which includes the assumption of debt, the companies have announced.

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Malibu Home Sold for Record $110M

Los Angeles County’s largest-ever home sale has occurred in Malibu, where Hard Rock Café co-founder Peter Morton sold his beachfront house for $110 million, or $13,750 per square foot.

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