Stories by Ciaran
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.
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
Miracle Mile development under construction, expected to come online in 2020
More apartments on the way on Wilshire Boulevard, complements of Jerry Snyder.
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.
New position for Beverly Hills-based investor
Kennedy-Wilson creates new president role for a 28-year company veteran.
REAL ESTATE: Tight market, interest rates a factor
L.A. housing affordability drops, according to realtors’ association.
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.
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.
Beverly Hills-based real estate investment firm Kennedy Wilson has named long-time executive Mary Ricks as its president, a newly-created position.
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.
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.
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
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.
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.
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.
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.
Allen Matkins/UCLA survey respondents expect steady run ahead
Costs for labor and materials are contributing to the slowing of office development.
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.
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.
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.
Renovation aimed at luring marijuana-related tenants to be renamed ‘Green Street’
Long Beach rents tick up.
RETAIL: Several of biggest renovate, reach beyond retail
Shopping centers and their owners adapt to succeed.
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.
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.
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.
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.
Coworking firm Spaces has leased more than 66,000 square feet of space at the former Univision building at 5999 Center Drive in Westchester.
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.
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.
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.
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.
Why talk of transformation is different this time around
Crenshaw district in South L.A. takes another shot at revitalization.
Meridian Capital helps secure financing for 20-story Miracle Mile site
20-story tower with 285 units planned for Miracle Mile gets financing.
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.
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.
Spotify has signed a lease for nearly 110,000 square feet to house its regional headquarters in the Arts District’s At Mateo development.
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.
Rents up 13 cents countywide; vacancy at 14.1 percent
Overview of L.A. County’s commercial real estate market.
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.
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.
Buyer plans urgent care facility after renovation
Urgent care facility to replace Pacific Alliance Medical Center’s former Chinatown campus.
REAL ESTATE: Big vacancy on BofA departure
Speculations on the Pasadena office market once Bank of America exits its building of 45 years.
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.
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 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.
May brings most sales since September 2017 to go with 24% annual gain on price
Resale prices of downtown condos rising.
Century City office fetches $610 per square foot
Law firm buys Bebe studio in Century City.
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.
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.