Los Angeles Business Journal

LA REAL ESTATE

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

Malibu Golf Club Back in Play After $30 Million Sale

The Malibu Golf Club is finally emerging from the financial muck of the recession. The 650-acre property sold for $30.5 million to Chinese company Shinhan Golden Faith International Development Ltd. after being in the hands of a court-appointed receiver.

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Record Sale Could Cost House of Bijan Home

Last Rodeo?

House of Bijan could be left homeless on Rodeo Drive as the new owner may tear down its storefront.

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Development Measure Yet to Find Poll Position

REAL ESTATE: Battle over restrictive initiative yields rival claims of support.

The L.A. city election might not be until March, but both sides of the Neighborhood Integrity Initiative battle have released polls showing completely opposite results.

Apartments Set to Sprout Up Next to Los Angeles River

An industrial strip of Casitas Avenue in Glassell Park is about to get several hundred little homes. New York-based real estate company Pan Am Equities just purchased a 5.6 acre site there for $22 million with plans to build a 400-unit apartment complex.

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Events Connect Downtown

Kennedy Wilson broker Justin Weiss, 35, began hosting his No Networking Allowed Young Downtown Party in 2008 for friends working in the area who were bored of networking events that felt like job interviews.

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Immigrant Developer Rebuilt Life in Los Angeles

REAL ESTATE: Late exec Jona Goldrich, 88, found success with apartments.

Developer Goldrich Kest hopes to build on the legacy of late co-founder Jona Goldrich.

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Bijan’s Rodeo Drive Store Fetches $122 Million

Bijan’s yellow store on Rodeo Drive sold last month for $122 million, or $19,405 a square foot, to the parent company of Louis Vuitton, according to CoStar records.