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Ciaran McEvoy

Stories by Ciaran

Westwood Terrace Office Building to be Acquired for $93M

Ocean West Capital Partners, a downtown Los Angeles-based developer, and Westbrook Partners of New York are closing on a $93 million deal to sell the five-story, 165,000-square-foot Westwood Terrace building at 1640 S. Sepulveda Blvd. in Westwood to a Goldman Sachs Group Inc. real estate fund, according to sources.

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CBRE Reorganizes Structure, Executive Team

The downtown Los Angeles-based CBRE Group Inc. is reorganizing its structure into three global businesses: Advisory services, global workplace solutions and real estate inves

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Snyder on Apartment Market: Better Than Good

Miracle Mile development under construction, expected to come online in 2020

More apartments on the way on Wilshire Boulevard, complements of Jerry Snyder.

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Closing Times

How a team of local movers hauled the L.A. Times from downtown to El Segundo

The stories and stats behind the L.A. Times’ move from downtown to El Segundo.

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Kennedy-Wilson Taps Ricks as President

New position for Beverly Hills-based investor

Kennedy-Wilson creates new president role for a 28-year company veteran.

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Affordability Index Drops Again for L.A.

REAL ESTATE: Tight market, interest rates a factor

L.A. housing affordability drops, according to realtors’ association.

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Greenland Lands $310M Loan for Metropolis’ Third Tower in DTLA

Cottonwood Group, a downtown Los Angeles-based real estate investment firm, and Natixis, a French lender, have arranged a $310 million senior construction loan facility to complete the third luxury residential tower in Greenland USA’s Metropolis project.

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Inception Launches Cannabis REIT

The Inception Cos., a cannabis-focused private investment companies with offices in Beverly Hills and London, has launched a cannabis-focused real estate investment trust.

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Mary Ricks Named President at Kennedy Wilson

Beverly Hills-based real estate investment firm Kennedy Wilson has named long-time executive Mary Ricks as its president, a newly-created position.

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Four Industrial Buildings in Commerce Sell for More Than $20M

Karney Properties Co., a Brentwood-based real estate firm, has sold four industrial buildings totaling roughly 120,000 square feet in Commerce for more than $20 million.

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Jerde Trying to Win More Local Work

Architecture firm turns back toward L.A. after focus on Asian markets

Local architects who designed overseas during the Great Recession move to expand, thanks to the local building boom.

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$151.5M for Culver City Doubletree

Hospitality: Buyer Woodbine gets 12-story hotel

A Dallas-based real estate firm has purchased the 375-room, 255,000-square-foot DoubleTree by Hilton Hotel

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Culver City DoubleTree Hotel Acquired for $151.5M

Woodbine Development Corp., a Dallas-based real estate firm, has purchased the 375-room, 255,000-square-foot DoubleTree by Hilton Hotel and its two acres of land at 6161 W. Centinela Ave. in Culver City for $151.5 million from private equity firm Carlyle Group of Washington, D.C., according to industry tracker CoStar Group Inc.

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Five Office Buildings in Cerritos Acquired for $89.5 Million

Cress Capital, a Newport Beach-based private equity firm, has purchased a portfolio of five office buildings totaling nearly 462,000 square feet at Cerritos Towne Centre for $89.5 million from Principal Real Estate Investors, a Des Moines, Iowa-based limited liability company.

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El Segundo Campus Sold for $39 Million

Atlas Capital Group, a New York-based real estate investment firm, has purchased Insite, a two-building, 102,000-square-foot office campus at 2030 E. Maple Ave. in El Segundo for $39 million from SteelWave, a property firm from Foster City, Calif.

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CBRE Global Investors Moving HQ in Downtown

CBRE Global Investors will move its headquarters about one block from its current location at City National Plaza after signing a lease for 32,000 square feet at the Figueroa at Wilshire building at 601 S. Figueroa St., according to landlord Brookfield Properties.

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Report Puts Office Market Lease Rates on Plateau

Allen Matkins/UCLA survey respondents expect steady run ahead

Costs for labor and materials are contributing to the slowing of office development.

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Highland Residences in Hollywood Sells for $52M

Goldrich Kest, a Culver City-based property owner and manager, has purchased the Highland Residences, a six-story, 76-unit, 68,000-square-foot apartment building at 1411 N. Highland Ave. in Hollywood, for $52 million.

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Developer Picks Up Westside Residential Property for $7 Million

California Landmark Group, a Westside-based developer, has purchased 10,000 square feet of property at 3812-3818 Dunn Drive in Los Angeles, adjacent to Culver City, from Westside-based real estate firm Napa Industries for $7 million or nearly $700 per square foot, according to NAI Capital.

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Cerritos Towne Center Office Building Sells for $24 Million

West Coast Capital Partners, a Torrance-based real estate investment company, has purchased the five-story, 105,000-square-foot 12800 Center Court Drive South in Cerritos for about $24 million, or around $229 per square foot, according to sources close to the deal.

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Cannabis Seeks New Setting in Jewelry District

Renovation aimed at luring marijuana-related tenants to be renamed ‘Green Street’

Long Beach rents tick up.

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Malls Get With Adaptation

RETAIL: Several of biggest renovate, reach beyond retail

Shopping centers and their owners adapt to succeed.

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Multi-Family Property in Hollywood Sells for $10.1 Million

Investment Real Estate Associates of Encino has closed the sale of a three-story, 16-unit multi-family property at 6900 Bonita Terrace in Hollywood for $10.1 million, $632,000 per unit or $568 per square foot.

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L.A. County Closes $302.3M Financing for 13-story Building in Koreatown

The County of Los Angeles has closed financing on a $302.3 million, 13-story, 468,000-square-foot administrative building at 510 S. Vermont Ave. in Koreatown.

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Adobe Opens First L.A. Area Office in Santa Monica

Adobe Systems Inc. has opened its first office in Los Angeles County, leasing 3,000 square feet at 429 Santa Monica Blvd. in downtown Santa Monica, citing the entertainment industry’s need for its post-production software products.

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Three Mixed-Use Buildings in Highland Park Sell for $23.3 Million

Asana Partners, a Charlotte, N.C.-based real estate investment firm, has purchased a three-building mixed-use portfolio in Highland Park for $23.3 million from Engine Real Estate, a downtown Los Angeles-based private investor.

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Coworking Firm Spaces Leases 66K+ SF in Westchester

Coworking firm Spaces has leased more than 66,000 square feet of space at the former Univision building at 5999 Center Drive in Westchester.

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1.7-Acre Parcel in Fashion District Sold for $24.3 Million

Realm Group, a joint venture between Newport Beach-based Realm Estate and The Bascom Group of Irvine, has purchased a 1.7-acre parcel of land at the corner of 7th Street and Maple Avenue in downtown Los Angeles for $24.3 million and plans to build a a 33-story, 452-unit tower in the Fashion District.

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Culver City Office Building Sets Record at $3.9 Million

Haley Miranda Group, a Culver City-based marketing and promotion firm, has sold its one-story, 4,000-square-foot office building at 8654 Washington Blvd. in Culver City for $3.9 million or about $956 per square foot – a record for the city, according to Colliers International.

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WeWork Opens Second Playa Vista Location

WeWork Cos. Inc. will open its second Playa Vista location, as it plans to occupy two floors at i|o at Playa Vista campus located 12130 Millennium Drive.

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Sunset Strip Properties Sell for $80 Million

Four Sunset Strip properties – including one in which The Viper Room nightclub and rock music venue is a tenant – have been sold for $80 million.

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Crenshaw Renaissance?

Why talk of transformation is different this time around

Crenshaw district in South L.A. takes another shot at revitalization.

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J.H. Snyder Snags $117M for Multifamily Project

Meridian Capital helps secure financing for 20-story Miracle Mile site

20-story tower with 285 units planned for Miracle Mile gets financing.

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L.A. Rising: Hollywood's New Script

Hollywood development goes gangbusters.

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$50 Million for Seven Properties in New City of Industry Complex

Dedeaux Properties, a Commerce-based real estate firm, has sold seven industrial buildings at 801-821 Echelon Court in the City of Industry to seven separate buyers for approximately $50 million, according to Daum Commercial Real Estate Services.

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First Republic Expanding to 100K SF in Century City

First Republic Bank will expand its Century City footprint by leasing around 31,000 square feet that will be vacated by Chicago-based accounting firm BDO USA at 1888 Century Park East, sources said.

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Spotify Moves to 110,000 SF in Arts District

Spotify has signed a lease for nearly 110,000 square feet to house its regional headquarters in the Arts District’s At Mateo development.

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Office Building in Hollywood Sets Record With $4.1 Million Sale

A 4,300-square-foot office building at 6507-6509 De Longpre Ave. in Hollywood has sold for $4.1 million, or about $949 per square foot, in what is believed to be a per-square-footage price record in that office submarket.

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New Projects Raise Rents in Q2 Despite Vacancies

Rents up 13 cents countywide; vacancy at 14.1 percent

Overview of L.A. County’s commercial real estate market.

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Favorable Ruling for Palladium Residences Project

Los Angeles city officials followed state environmental laws when they approved the Palladium Residences, a pair of 30-story, 731-apartment towers near the Hollywood Palladium on Sunset Boulevard, a judge has ruled.

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Harbor Gateway Industrial Property Sells for $21M

CenterPoint Properties, an Oak Brook, Ill.-based real estate investment firm, has purchased a 126,000-square-foot industrial property at 13217 S. Figueroa St. in the Harbor Gateway neighborhood for $21 million, or about $167 per square foot.

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Chinatown Hospital Site Sold for $33M

Buyer plans urgent care facility after renovation

Urgent care facility to replace Pacific Alliance Medical Center’s former Chinatown campus.

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Office Move to Test Tri-Cities

REAL ESTATE: Big vacancy on BofA departure

Speculations on the Pasadena office market once Bank of America exits its building of 45 years.

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Chinatown’s Pacific Alliance Hospital Sold for $33M

Allied Pacific IPA, an Alhambra-based health maintenance organization, has purchased the site of Pacific Alliance Medical Center – a 90,000-square-foot hospital at 531 W. College St. in Chinatown – for $33 million, or nearly $367 per square foot.

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Judge Rules Huntington Park Dispensary Permit Process Unconstitutional

The City of Huntington Park’s application process for its medical marijuana business permits violated constitutional rights by unlawfully restricting applicants petitioning city council members about their applications, a federal judge has ruled.

Citigroup to Exit Citigroup Center; Taking New Lease at One Cal Plaza

Citigroup Inc. is moving out of the Citigroup Center at 444 S. Flower St. in downtown Los Angeles to 29,000 square feet at nearby One California Plaza at 300 S. Grand Ave., according to sources.

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DTLA Condo Resales Continue to Climb

May brings most sales since September 2017 to go with 24% annual gain on price

Resale prices of downtown condos rising.

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Bebe Studio Sells for $28.5 Million

Century City office fetches $610 per square foot

Law firm buys Bebe studio in Century City.

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Crenshaw Plaza Remodel Approved

The Los Angeles City Council has approved the Baldwin Hills Crenshaw Plaza overhaul, which would include a new hotel, a 10-story office tower, more than 900 units of housing as well as outdoor ground-level retail.

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Bellami Hair Relocates to 23,000 SF in El Segundo

Bellami Hair, a major supplier of hair extensions, is moving its headquarters from Simi Valley to El Segundo, where it will sublease 23,000 square feet of space on the PCT campus at 222 N. Sepulveda Blvd.

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