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

Knotel Brings Flex-Office Concept to L.A. With First Lease

Knotel Inc., a New York-based flexible office space provider and rival of WeWork Companies Inc, is making its way to L.A. The company has signed its first L.A. lease in Santa Monica.

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WeWork Signs 78K SF Downtown Lease

WeWork Companies Inc. has signed a lease for 78,000 square feet in downtown. Terms of the lease were not disclosed.

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Torrance Office Building Sells for $15.75M

A 60,804-square-foot office building in Torrance has sold for $15.75 million, Newmark Knight Frank announced Feb. 13.

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Goldrich Kest Names CEO

Culver City-based real estate development and management company Goldrich Kest has name Mike Drandell as the company’s chief executive. Drandell was previously the company’s chief operating officer.

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80-Acre Sports and Education Center Planned for Carson

A portion of Los Angeles County-owned Victoria Park Golf Course in Carson is expected to be transformed into a new sports and education center with a focus on tennis and STEM studies pending completion of a public review process led by the county.

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Calmwater Capital Provides $63M Loan to Build Thompson Hotel in Hollywood

A $63 million loan has been given to the Hollywood-based Relevant Group for the construction of a hotel in Hollywood. The senior secured term loan is for the Thompson Hotel.

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Jamison, Hankey Investment Planning 490-Unit Project on Vermont in Koreatown

Koreatown-based Jamison Services and mid-Wilshire-based Hankey Investment Company have filed plans to build 490 residential units in Koreatown.

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Culver City Creative Office Campus Sold for $39.1M

Pasadena-based Alexandria Real Estate Equities Inc. has purchased Bristol 61, a four-building creative office campus in Culver City for $39.15 million, according to a source familiar with the matter.

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San Gabriel Valley Construction Contractor Cited for Nearly $12 Million in Wage Theft Violations

The state Labor Commissioner’s office has fined the former owners of a now-shuttered San Gabriel Valley construction subcontractor for nearly $12 million in wage theft violations.

El Monte Apartment Building Sells for $41M

A 177-unit apartment building in El Monte was purchased by Uhon Inc. for $40.5 million, records show. The complex, called The Parker, was sold by Benedict Canyon Equities Inc.

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$300M Project Breaks Ground in Koreatown

A $300 million residential building has broken ground in Koreatown. The 25-story tower is being developed by mid-Wilshire-based Hankey Investment Company and Koreatown-based Jamison Properties.

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Train’s Fate No Deterrent

INFRASTRUCTURE: High-speed rail contracts proliferate

Full speed ahead for local companies with high-speed rail contracts.

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AECOM’s Kansas City Airport Bid Back in Play

Firm resubmits after bid winner’s plan questioned by K.C. City Council

Second chance for AECOM in Kansas City?

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Net Income Down, Mall Tenant Sales Up, According to Macerich Q4 Earnings Report

The Macerich Co. had $11.7 million in net income in the fourth quarter of 2018, according to an earnings report released Feb. 7. The number is far below the $32.8 million in net income reported for the fourth quarter of 2017.

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Forever 21 HQ Sells for $166M

Forever 21 has sold its headquarters building to Blackstone Group, industry sources confirmed. The Lincoln Heights property sold for just under $166 million, according to CoStar data.

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