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Daina Beth Solomon

Stories by Daina Beth

Google Takes Power Position

REAL ESTATE: Firm moves on data center in downtown.

Google comes into power downtown with data center lease.

Buyer Doubles Up Downtown in $20 Million Deal

ACQUISITION: DLJ scores pair of artist loft buildings; properties’ future uncertain.

An almost 100-year-old building in downtown’s Arts District designed by prolific L.A. architect John Parkinson and a neighboring brick structure were acquired this month for $20 million by DLJ Real Estate Capital Partners, said sources familiar with the deal.

Century City Mall Clicks With Amazon

Westfield property will serve as home to internet retailer’s push into brick-and-mortar outposts.

Amazon pages a new sales future with plans for a bookstore at a Century City mall.

Amazon Books Submits Plans for Westfield Century City Store

Amazon Books, part of Amazon.com Inc., applied for building permits last week for a 5,227-square-foot suite at the Westfield Century City mall, according to a record on the L.A. Department of Building and Safety website.

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NFL Inglewood Stadium Opening Delayed to 2020

Southern California’s heavy rains this year eased the drought but put a damper on the NFL’s plans to build a stadium in Inglewood by 2019.

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Restaurateurs Look to Get Cooking in Venice Deal

Many Angelenos see Lincoln Boulevard in Venice as a road to the airport – one lined with a hodgepodge of small businesses ranging from auto repair shops to liquor stores.

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Traction Avenue Buildings in Arts District Fetch $20 Million

A century-old building in the Arts District designed by prolific L.A. architect John Parkinson and a neighboring brick structure sold last week for $20 million to DLJ Real Estate Capital Partners, sources familiar with the deal said.

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Development at Crossroads

REAL ESTATE: Review of project impact underway.

Hollywood’s Crossroads of the World may be getting a makeover.

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Soon-Shiong Plans Nant IPO

BIOTECH: Venture would roll up several pharma units.

Patrick Soon-Shiong will continue to nurse his presence in the sector by forming the NantBio entity.

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Restaurateurs Look to Get Cooking in Venice Deal

ACQUISITION: Father, son buy Lincoln Boulevard land next to Night + Market site.

Many Angelenos see Lincoln Boulevard in Venice as a road to the airport – one lined with a hodgepodge of small businesses ranging from auto repair shops to liquor stores.

Developer Plans 228 Homes in Inglewood Near Rams Stadium

Harridge Development Group is swooping into Inglewood with a plan to build 228 townhomes on an 18-acre site just a mile from the Los Angeles Rams’ planned $2.6 billion stadium.

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Hollywood’s Crossroads of the World Redevelopment EIR Unveiled

A mixed-use development that would be among the biggest in Hollywood history will face public scrutiny with the planned release Thursday of its draft environmental impact report.

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USC Books Expansive Student Dorm Project

DEVELOPMENT: Village complex also will bring retail.

USC’s dorm project could serve as a wake-up call that brings investment into the area.

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Snap’s Westside Presence Blamed for ‘Freak’ Out

REAL ESTATE: Founder of carnival-like sideshow says tech scene changing Venice.

Freakshow founder fears Snap’s presence may drop the curtain on Venice’s funky vibe.

Office Development Gets Jump on Pair of Tenants

LEASES: Culver Pointe puts deals in place with Henkel, Dentsu Aegis for fall arrival.

The ultracontemporary C3 office building under construction in Culver City’s Culver Pointe business park has signed two tenants a half-year before completion.

Hudson Pacific Properties Buys Third Hollywood Studio Site

Hudson Pacific Properties Inc. has finalized its $200 million acquisition of Hollywood Center Studios, the company said Tuesday, bringing its footprint of studio and office space in the market to 1.6 million square feet.

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Iconic Venice Beach Freakshow Closing Sunday After Losing Lease

The Venice Beach Freakshow will offer its final performances Sunday, forced to abandon its boardwalk home because its landlord declined to renew its lease, according to the founder.

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Strength of South Bay on Show in Industrial Deal

ACQUISITION: Terreno pays $31.4 million for 23.4-acre Lynwood site near rail spur.

One of the largest South Bay industrial sites to hit the market in more than a decade sold last week for $31.4 million, or $31 a square foot, according to brokerage CBRE.

Brexit Fallout Prompts Return of Euro Subsidiary

REAL ESTATE: Tumble in share value drives deal by Kennedy-Wilson Holdings

Brexit fallout spurs Kennedy-Wilson Holdings to buy back European subsidiary.

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Douglas Emmett, Qatar Fund Acquire Two Santa Monica Office Buildings for $353 Million

Douglas Emmett Inc. and Qatar Investment Authority continued their sweep of Westside office towers this week, announcing on Wednesday that their joint venture purchased two prime Santa Monica buildings for almost $353 million, or $1,205 a square foot.

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Westwood’s Claremont Hotel Sells for $12 Million, to Get First Renovation

Westwood’s oldest hotel is slated for a makeover. The 55-room Claremont Hotel on Tiverton Avenue, built in 1940, has sold for $12.25 million to Shamina Investments, which intends to give the building its first major renovation, the new owner said Wednesday.

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Cushman & Wakefield Takes Lease at Downtown’s Wilshire Grand

Cushman & Wakefield has signed a 12-year lease to occupy the 24th and 25th floors of downtown’s Wilshire Grand Tower, the real estate services firm said Monday.

Kennedy-Wilson Holdings Set to Acquire European Subsidiary

Kennedy-Wilson Holdings Inc., a Beverly Hills-based real estate investment company, is reeling in its European subsidiary.

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West’s Tallest Tower Leans Toward Major Tenant

LEASE: Government group in talks to take two floors at Wilshire Grand Center.

The 73-story Wilshire Grand Center, the tallest tower in the West, is close to signing its first major office tenant.

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Costly Buildup In Construction

DEVELOPMENT: Crush for crews squeezes project budgets.

Buildup in construction costs is making it harder to put together projects.

Wilshire Grand Offices Set to Ink Tenant

The tallest tower in the West, the 73-story Wilshire Grand Center in downtown, appears close to claiming its first major office tenant.

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Omninet Capital Buys Monterey Park Offices for $81 Million

A cluster of office buildings in Monterey Park has sold to Omninet Capital, a Beverly Hills-based real estate and venture capital fund, broker Newmark Grubb Knight Frank announced. The price tag was $81 million, according to a source familiar with the deal.

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Best Buy Signs Large Industrial Lease at Compton Brickyard

Best Buy Co. Inc. has snagged nearly half a million square feet of industrial space at the Brickyard in Compton, the property’s leasing broker said Friday, bringing the 58-acre project to full occupancy.

Moving Into Koreatown

DEVELOPMENT: Proximity to Westside, downtown, rail line fuels market’s attraction.

Koreatown has proved a popular middle ground between downtown and the Westside.

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REAL ESTATE: First Quarter Returns Space But Analysts Bullish

The L.A. office market saw more than a quarter-million square feet of space put back on the market in the first quarter, but analysts framed the early 2017 setback as a blip in an otherwise strong economy.

Michael Ferro Suggested LA Times Sale to Patrick Soon-Shiong, Lawyer Says

Tronc Inc.’s second-largest shareholder slung another missive at the Chicago media company on Friday in a fast-escalating war of words over the future of its flagship newspaper, the Los Angeles Times.

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Office Developers Find Home in Residential Area

ACQUISITION: Co-owners expect multifamily boom to feed interest in work space.

The eight-story office building at 520 N. Central Ave. in downtown Glendale sits on a street where several apartment complexes have popped up in the last couple of years.

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Tronc Open to Soon-Shiong Offer for Company; Won’t Sell L.A. Times Alone

Chicago media company tronc Inc. said in a public filing on Thursday that it would be open to considering a proposal from its second-largest shareholder, Patrick Soon-Shiong, to buy out the company in order to own its trophy publication, the Los Angeles Times.

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Santa Monica Retail Site Piazza Montana Sells for $15.5 Million

A Mediterranean-style retail building on Montana Avenue in Santa Monica recently sold for $15.5 million, or $1,582 a square foot, according to brokerage NAI Capital.

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Tronc Shares Climb as It Pushes Back at Soon-Shiong

Shares of tronc Inc., parent of the Los Angeles Times, jumped 4.6 percent on Monday after the company pushed back against claims of unfair treatment by Patrick Soon-Shiong, its second-largest shareholder.

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Santa Monica a Hot Spot for Solar Power Venture

ACQUISITION: Sale of office property, adjacent lot brings Hudson Pacific $35 million.

Hudson Pacific Properties Inc. has sold an office building and adjacent plot of land in Santa Monica for $35 million to solar power provider Cypress Creek Renewables.

Extended Stay Pays for Hotels

HOSPITALITY: King’s move to China yielded investors.

Developer Grant King checked in with Chinese investors to back his Hollywood hotel projects.

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NSB Gets Going on El Segundo Venture Designed by Frank Gehry

DEVELOPMENT: Construction Project Finds More Room for Office

After converting a former Xerox Corp. facility in El Segundo into nearly 200,000 square feet of creative work space, developer NSB Associates has begun construction on an adjacent parcel for a building designed by acclaimed architect Frank Gehry.

Developer Thinks Small With Hotel

Capital Foresight places big bet on micro-room restoration of Mikado building in Little Tokyo.

Developer Capital Foresight sees a big opening for a micro-unit hotel in Little Tokyo.

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What is Soon-Shiong’s Next Step in Fight For Tronc?

The high-stakes chess match for control of tronc Inc., Chicago parent of the Los Angeles Times, reached a fever pitch this week as biotech billionaire Patrick Soon-Shiong upped his stake with a series of stock acquisitions that appeared to be part of a move for control of the company.

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Oaktree Sells Stake in tronc Back to Company

Oaktree Capital Management, the third-largest shareholder in Los Angeles Times’ parent tronc Inc., is selling its holdings back to tronc in a $56 million deal, according to documents filed Thursday with the Securities and Exchange Commission.

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Creative Appeal Draws Buyer to Culver City

Developer Bow West Capital is set to buy a 28-year-old warehouse in Culver City for more than $10 million with plans to convert the 17,490-square-foot property into a creative office.

Anda Realty Picks Up $15M Pasadena Office

Anda Realty has purchased a downtown Pasadena office building for $15 million, or $273 a square foot, in an area it knows very well: the corner across the street from its headquarters.

Soylent Nabs Downtown Arts District Office Lease

Rosa Foods Inc., maker of the Soylent meal replacement drink, just boosted the nascent office market in downtown’s Arts District, signing a large lease just under $4 a square foot monthly, according to a source familiar with the deal.

Co-Working Company Pulls Out of Row DTLA

Real Office Centers has pulled out of its 15-year lease for 27,000 square feet at Atlas Capital Group’s Row DTLA in downtown’s Industrial District, said Ron McElroy, the co-working company’s chief executive.

Waterfront’s Future Adrift After Redondo Beach Voters Reject $400 Million Project

Coast Unclear

Redondo Beach voters throw cold water on a $400 million facelift for the city’s aging pier.

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Meal Replacement Company Bites on Downtown

LEASE: Rosa Foods grows presence in area with deal for office space in Arts District.

Rosa Foods Inc., maker of the Soylent meal replacement drink, just boosted the nascent office market in downtown’s Arts District, signing a large lease just under $4 a square foot monthly, according to a source familiar with the deal.

Amazon May Be Looking to Book Space in L.A.

Amazon.com Inc. announced plans last week to open its 10th bookstore in its hometown of Seattle. Los Angeles could be next.

Hotelier Jeff Klein Set to Buy Sunset Tower Hotel

West Hollywood’s Sunset Tower Hotel is slated to sell to a long-time stakeholder after going on the market last month. Hotelier Jeff Klein, who owns just under a quarter of the Sunset Strip property, is in escrow to buy the remaining stake for about $75 million, according to sources familiar with the deal. That would make the building’s full value $95 million, or $1.2 million a room.

Amazon May Be Looking to Book Space in L.A.

RETAIL: Brokers say e-tailer checked out areas including Old Pasadena, Century City.

Amazon.com Inc. announced plans last week to open its 10th bookstore in its hometown of Seattle. Los Angeles could be next.

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