Downtown Los Angeles continued its tepid recovery in the first quarter of 2014 as developers bet on its future as a bastion of creative office space.
The Tri-Cities submarket saw some of the county’s largest deals last quarter, as investors and tenants alike committed to the area.
Large sale and lease deals across Los Angeles County last quarter helped further cement the notion that the county’s office market has recovered.
After a strong finish last year, Hollywood’s office market took it easy in the first quarter.
The Tri-Cities office submarket showed notable improvement in the fourth quarter as Pasadena reported positive net absorption for the first time all year.
The heat was still on in Hollywood’s office submarket last quarter.
Main events in L.A.’s submarkets in the fourth quarter.
Action in Hollywood during the third quarter might have further emboldened developers, who have already made it the submarket with the most new office space under construction.
The buzz around downtown Los Angeles might be hot, but the office market was just lukewarm last quarter.
Much like the unrelenting sun that baked its concrete streets, Los Angeles County’s office market was hot last quarter.
Something unusual happened in the Tri-Cities office market last quarter.
It might not be obvious by the numbers, but Hollywood’s office submarket had a strong second quarter.
Despite starting off the year strong, the downtown L.A. office submarket had another weak quarter as its stable of traditional high-rise office towers continued to hemorrhage tenants.
Los Angeles County’s commercial real estate rebound was in full swing last quarter as the office vacancy rate declined, asking rental rates rose and construction increased.
The Tri-Cities office submarket bounced back last quarter from a slow start to the year as activity in Glendale and Burbank heated up.
COMPENSATION: Total increase of L.A.’s top execs was single-digit.
Pay packages for a few local CEOs declined steeply, dragging overall remuneration down from last year’s levels.
INTERNET: Osmium joined in call for board, executive changes at Spark Networks.
Major shareholders have little love for the operation and board of dating website operator Spark Networks.
ENERGY: Installation-only Verengo looks into sale as industry consolidates.
Sun may set on Verengo’s business model as the solar panel installer explores a sale.
The numbers say Hollywood had a slow first quarter, but it would be hard to tell from a landlord’s or developer’s perspective.
The Tri-Cities office market slowed a bit in the first quarter as tenants vacated space, but landlords remained bullish in the face of the setback.
The downtown L.A. office market saw gains in the first quarter as more than 110,000 square feet were absorbed by a mix of relocations and internal expansion.
The Los Angeles County office market continued to heat up for its third consecutive quarter, helping reinvigorate construction and redevelopment across the area to levels last seen five years ago.
The Los Angeles County office market continued its tepid but steady recovery last quarter.
A flurry of small lease deals last quarter helped turn around what had been a year of rising vacancy in the Hollywood office market.
Downsizing defined downtown Los Angeles last quarter.
LEASE: Caesars Interactive division signs deal for top floor on Colorado Avenue.
An online and mobile gaming division of casino operator Caesars Entertainment Corp. in Reno, Nev., is preparing a large expansion in Santa Monica.
DEVELOPMENT: City mulls project for east of Promenade.
Santa Monica takes a new development direction with a proposed project east of the Third Street Promenade.
ACQUISITION: $14 million property among 800-plus sold in L.A. this year.
The sale last month of a 152,000-square-foot Compton industrial building, fully leased to Kroger Co.’s Ralphs and Food4Less divisions, was yet another spark in a particularly hot market.
ACQUISITION: Cypress pays $50 million in area’s highest retail deal of year.
A shopping center across the street from Glendale’s successful outdoor mall Americana at Brand has sold for $50 million in one of Los Angeles County’s largest retail sales this year.
Rick Caruso looks to anchor megayacht by Newport Beach.
Rick Caruso looks to anchor megayacht by Newport Beach.
ACQUISITIONS: Torrance properties purchased for combined $77.5 million.
The South Bay office market is heating up.
Real Estate: Online giant to open studio on Westside.
Amazon.com is sold on Westside office space as a home for the online retailer’s entertainment unit.
REAL ESTATE QUARTERLY: Investors flock to L.A.’s rebounding office market, driving deal volume and prices to highs not seen in years.
Building buyers are moving into Los Angeles to get in on the ground floor of the office market’s nascent recovery.
REAL ESTATE QUARTERLY
Climbing property values and asking rates spur a surge in ground-up projects.
ACQUISITION: Property picked up for $66 million by Kennedy-Wilson.
Kennedy-Wilson Holdings Inc. has acquired the Beverly Hills office buildings that were once home to talent agency William Morris Endeavor in a $66 million deal.
LEASE: Pivotal Post signs 10-year deal in market hit by Disney’s departure.
Postproduction company Pivotal Post is moving its headquarters to Burbank, a good omen for the media-driven city that was hit with high vacancy rates when Walt Disney Co. consolidated its offices earlier this year.
development: City Ventures gets rolling on stalled residential project just as Pasadena condominium market takes off.
City Ventures has finally moved into constructing residences on a church’s former college campus.
SALE: Ocean West pays Jamison $54 million for Westwood Terrace building.
Jamison Services Inc., Dr. David Lee’s Koreatown real estate investment vehicle, has continued to pare back its holdings, striking a deal to sell Westwood Terrace for $54 million.
Owners of the Hyatt Regency Century Plaza Hotel are seeking historical cultural monument status for the famed Century City site, which they had proposed demolishing only years ago.
ACQUISITION: $96 million for office building is highest in market this year.
A 22-story Glendale office tower has traded hands for $96 million, the highest price paid for a single property in the Tri-Cities market this year.
Home theater, waterfall not enough at high end
Finding room for luxury amenities has become a must for some L.A. mansion buyers and owners.
PROPERTY: Media complex may fetch over $278 million.
Investment firm’s deal for entertainment-focused office complex could be a blockbuster.
Special Report: Executive Compensation
Chief executives at small-cap companies stocked up on fatter paychecks as the markets’ recovery broadened.
ACQUISITION: $27 million deal a rare sale in popular Westside leasing market.
A two-building Playa Vista office complex has traded hands for $27 million in a rare sale for the submarket.
PAPER: Company under Gores Group’s control files for bankruptcy.
Gores Group could be addressing problems with a supply contract by having National Envelope file for bankruptcy.
REAL ESTATE: Riot lease would be market’s largest deal in five years.
Playa Vista office building is in play as the future home of video game company Riot.
VACANCY: Farmers’ move of HQ to Woodland Hills lifts vacancy to 70 percent.
The departure of Farmers Insurance Group from its longtime Wilshire Boulevard headquarters is a blow to the already struggling Park Mile submarket.
REAL ESTATE: Bank finally works to turn shoreline eyesore into luxury condos.
Latest owner looks to shore up long-delayed luxury condo development in Malibu.
LEASE: CBRE to bring together HQ with other offices on Hope Street.
CBRE Group Inc., one of the world’s largest commercial real estate brokerages, is moving its headquarters to downtown Los Angeles from the Westside.
ACQUISITION: Deal for Culver City property is second-highest in last year.
A 51,288-square-foot Culver City office building has sold for $12.7 million in the second-highest sale in the city in the last year.
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