Los Angeles Business Journal


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

Inglewood Apartments Draw Investor Universe Holdings

Two Inglewood apartments sold this month to an investor planning to renovate the units and lift rents as part of a plan to capitalize on the city’s appeal to residents priced out of neighboring Westside markets.

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Tesla’s Santa Monica Shop Sells for $15.6M

Tesla Motors’ sleek storefront on Santa Monica’s Third Street Promenade has sold for about $15.6 million, or roughly $5,200 a square foot.

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Onni Closes Monday on $105M Purchase of Times HQ

Tribune Media Co. finalized its sale of the Los Angeles Times building to Onni Group on Monday for at least $105 million.

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New York Investor Nabs Hollywood Apartments for $109 Million

New York Life Real Estate Investors picked up the Rubix Hollywood apartments this month for $109 million.

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Beverly Grove Retail Buyer Has Bigger Plans

An 8,800-square-foot retail site in Beverly Grove just sold for $7.5 million with plans for a larger development.

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Echo Park Retail Revival in the Works

A retail complex on a gritty stretch of Glendale Boulevard in Echo Park is prepping for a makeover.

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UPS Signs Largest Industrial Lease in Compton

REAL ESTATE: Hub site offered rare space in SoCal

New Compton megawarehouse proves shipshape for UPS in $44 million lease deal.

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Brokerage Sells Another Vet Exec on Relocating

EMPLOYMENT: Brad Feld latest score in Newmark’s stretch of power pickups.

Newmark Grubb Knight Frank has nabbed another power broker.

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Creative Office Project Slated for Century-Old Downtown Building

A creative office developer is the latest company to envision a transformation for an aging downtown building. West L.A.’s Urban Offerings Inc. purchased the Norton Building, a five-story office on Los Angeles Street built in 1914, with plans to do a drastic redesign. The value of the deal was not disclosed, but the asking price was $21.5 million, according to CoStar records.

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San Gabriel Valley Industrial Property Sells for $29M

The San Gabriel Valley just saw one of the biggest industrial sales in recent years. A new industrial property of 168,000 square feet in the City of Industry sold for $29 million, or $173 a square foot, to AFL-CIO Building Investment Trust, based in Pittsburgh.

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New Tower in Downtown Piles Up Office Space

REAL ESTATE: Skyscraper Wilshire Grand facing challenges on leasing front.

Towering Wilshire Grand Center could prove a tall order to fill in downtown’s office market.

San Francisco Buyer Scales Palms Office Tower

ACQUISITION: Swig pays $68.2 million to expand presence in Los Angeles.

The Sepulveda Center, a shiny blue tower in Palms emblazoned with the TrueCar Inc. logo, has been sold to San Francisco real estate investment firm Swig Co.

High Reward, High Risk

The tallest tower in the West offers risk for its developer, but makes a significant statement about Los Angeles.

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Palms Office Sells for $68 Million

The Sepulveda Center, a shiny blue tower in Palms emblazoned with the TrueCar Inc. logo, has sold to San Francisco-based real estate investment firm Swig Co.

Echo Park Demolition Plans Put On Hold

As soon as Beverly Hills developer Palisades Capital Partners announced plans in July to demolish a chunk of the former Metropolitan Water District building just outside of downtown, historic architecture buffs sent up the alarm.