Los Angeles Business Journal

LA REAL ESTATE

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

Household Names Feed Niche for Home Brokers

REAL ESTATE: L.A. fertile field for buyers hungry for famous architects’ projects.Some agents thrive on servicing wealthy buyers with designs on architecturally significant homes.

By Nicole Piper April 27, 2015 midnight   $$ Share

Soho-Adjacent Site Downtown Trades for $11.5 Million

In addition to attracting bold-face names, London private club Soho House, which opened a West Hollywood outpost in 2010, has apparently become a magnet for real estate investment.

Second Geffen, Mani Malibu Deal Hits Record Price

Billionaire entertainment titan David Geffen and West Hollywood investor Mani Bros. Real Estate Group have continued their Malibu swapathon.

Former Wham-O, Sriracha Factory Gets New Lease on Life

Olson Co., the largest residential developer in San Gabriel, has sold part of the property that used to house the Wham-O toy factory and was later occupied by Sriracha maker Huy Fong Foods.

JibJab Dances Into Marina

JibJab Bros. Studios, a digital media production company known for comical e-cards, has relocated from Venice into a 21,000-square-foot Class C freestanding office in Marina del Rey.

Foursquare Church Lists Echo Park Portfolio

The International Church of the Foursquare Gospel, founded by evangelist Aimee Semple McPherson in 1923, put 14 of its properties in Echo Park up for sale last month.

Law Firm Gets Creative – Space

Downtown L.A.’s PacMutual, which has been repositioned to appeal to creative office tenants, last month signed its second-largest lease with an unexpected tenant: a new law firm.

Pacshore, Canyon Make Creative Office Grab

Pacshore Partners, an L.A. real estate investment firm run by Philip Orosco, and Canyon Catalyst Fund, a joint venture between L.A.’s Canyon Capital Realty Advisors and California Public Employees’ Retirement System, have partnered to acquire creative office buildings in Malibu and Playa Vista in two separate transactions totaling $36 million.

CBRE Buys Johnson Controls Unit for $1.48 Billion

Downtown L.A. commercial real estate giant CBRE Group Inc. has purchased the Global Workplace Solutions unit of Milwaukee’s Johnson Controls Inc. for $1.475 billion.

Westin Pasadena Hotel Sells High

In what Bruce Baltin of hospitality consulting firm PFK Consulting USA said was one of the biggest hotel deals in Los Angeles County this year, Carey Watermark Investors Inc., a New York real estate investment trust, bought the Westin Pasadena for $143 million, or about $408,000 a room, last week.

Briefs: Kite Pharma Sinks on Q4 Loss, Arts District Site Sells for $130 Million

Kite Pharma’s Shares Fall After Q4 Loss Despite detailing a year full of landmark deals in its 2014 earnings report, Santa Monica biotech firm Kite Pharma Inc.’s shares fell 7.26 percent to $57.75 on Thursday.

Sportsman's Lodge Project is Approved

After a contentious, five-hour Wednesday evening hearing, developer Richard Weintraub won the right to demolish the historic Sportsman’s Lodge event center in Studio City and replace it with a 97,800-square-foot, mixed-use development.

Security Software Firm Loads Up on Marina Office Space

TeleSign, a maker of identity verification software, is more than doubling its space in Marina del Rey by moving into a bigger headquarters.

Graybar Buys in Packed Pomona

A newly constructed logistics facility in Pomona sold last month for $22.9 million. St. Louis manufacturer Graybar Electric Co. Inc., one of the largest U.S. distributors of electronic parts, bought the property at 2205 Mount Vernon Ave. from Gardena’s Overton Moore Properties.

Trust Invests in Low-Income Housing

A private New York real estate investment trust that invests exclusively in affordable housing announced on Tuesday that it is putting $20 million into California low-income housing, including issuing a mortgage for a Van Nuys senior housing complex.

Tommy Store Sets WeHo Record

The 11,000-square-foot Tommy Hilfiger store at the intersection of Robertson and Beverly boulevards in West Hollywood traded last month for a record price.