Los Angeles Business Journal

LA REAL ESTATE

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

Pasadena Development Site Sells for $16.6 Million

Pasadena has again proved itself a prime target for multifamily developers. A 1.27-acre site on South Lake Avenue near Caltech sold last month for $16.55 million, said listing broker Laurie Lustig-Bower, an executive vice president at CBRE, who fielded offers from nearly 20 prospective buyers over just a couple of months.

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Hotel Developer Has More Rooms

Kambiz Hekmat checks into Westwood with Old World influence guiding project.

Hotel developer Kambiz Hekmat had no reservations about putting his new project in Westwood.

Corporate Pointe Office Owners Go Creative with ‘Corporate’ Switch to ‘Culver’

Remaking Pointe

Owners of office buildings at Corporate Pointe aim to build up with a new name and focus on creative space.

Measure S Opponents Agree to Change Ballot Argument Language

Opponents of a ballot measure that would limit development in Los Angeles announced late Wednesday that they have reached an agreement to change the language of their ballot argument to settle a lawsuit brought last month by supporters.

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Deed Shows $270 Million Price Tag in Spruce Goose Hangar Sale

The 1940s-era Spruce Goose hangar in Playa Vista sold last week for close to $270 million, on par with the values of modern office campuses that have recently traded in the trendy market.

NMS Properties Booted as Rental Managers During Ownership Dispute

A judge has agreed to boot Santa Monica developer Neil Shekhter’s NMS Properties from eight properties it manages in Los Angeles while an ownership dispute plays out in the courts.

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San Diego Chargers Agree to Orange County Office Lease

Although the San Diego Chargers have not yet pulled the plug on their hometown, the team is making plans for a possible move to Los Angeles.

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Spruce Goose Hangar in Playa Vista Sells to Japanese Investor

A Japanese investor has swooped into Playa Vista, purchasing the former Spruce Goose hangar that is leased to Google.

Court Hits Pause on Judgment Stripping Real Estate Developer of Nine Properties

An appellate court agreed Tuesday to temporarily halt a trial court’s order stripping control of nine multifamily buildings from Santa Monica developer Neil Shekhter and his NMS Properties Inc. until the judicial panel examines the case more closely.

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Fandango Moving to Larger Headquarters in Beverly Hills

Fandango is making moves to bulk up. The online movie-ticket seller just signed a lease for a new space in Beverly Hills that is about twice the size of its current headquarters in West L.A.

Hotel Happy Rivals Checking in to Hollywood

Some new competitors are coming to the neighborhood of the W Hollywood, but the hotel’s general manager is welcoming them, their restaurants, and shops with open arms.

Fred Segal Inks Lease for Sunset Strip

High-end retailer Fred Segal has signed a lease for 22,000 square feet in a new residential building on the Sunset Strip, bringing an iconic fashion name to a part of West Hollywood better known for its clubs and nightlife.

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Owners Land Ground Beneath Office Properties

ACQUISITIONS: Beacon, CIM buy land beneath One, Two Cal Plaza.

The owners of two iconic office towers on downtown’s Bunker Hill now own the land on which they sit.

John Aaroe Group Merging with San Francisco Real Estate Brokerage

Beverly Hills-based John Aaroe Group is merging with San Francisco’s Pacific Union International Inc., the ninth-largest real estate brokerage in the United States by sales volume, the companies announced Wednesday.

Downtown California Plaza Land Sells for $103 Million

The owners of two iconic office towers on downtown’s Bunker Hill now also own the land on which they sit.