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.
WeWork Companies Inc. has signed a lease for 78,000 square feet in downtown. Terms of the lease were not disclosed.
A 60,804-square-foot office building in Torrance has sold for $15.75 million, Newmark Knight Frank announced Feb. 13.
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.
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.
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.
Koreatown-based Jamison Services and mid-Wilshire-based Hankey Investment Company have filed plans to build 490 residential units in Koreatown.
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.
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.
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.
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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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.
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.