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Neil Nisperos

Stories by Neil

Long Beach Project Generates Some Early Buzz

Development director touts mixed-use Broadway Block as guidance for city’s future.

A proposed mixed-use residential project for downtown Long Beach called Broadway Block is being talked up by the developer as well as a high-ranking municipal official well in advance of its expected appearance before the city’s Planning Commission.

Commercial Brokerages Added Value Last Year

REAL ESTATE: Top spot retained by CBRE Group. Total deals hit $94.9 billion.

Local commercial real estate brokerages had a boom year in 2016.

Old Town Offices Bloom in Pasadena

Sale of the AT&T building underlines the new interest in Old Town Pasadena office properties.

Brookfield Properties Bringing Amenities, Services Platform to Downtown Offices

Major downtown office space landlord Brookfield Properties, based in New York, announced this week it’s bringing the Convene “workplace-as-a-service” platform to its local properties.

$280 Million for Union Bank Plaza

KBS Real Estate Investment Trust II recently struck a deal to sell its 40-story Union Bank Plaza building at 445 S. Figueroa St. in Downtown Los Angeles for $280 million, according to a U.S. Securities and Exchange Commission Report.

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Developer Touts Bull’s-Eye With Target’s Arrival

Century West Partners sees retailer bolstering its efforts with Koreatown residential.

Add retail to Century West Partners’ Koreatown portfolio now that one of Target Corp.’s smaller, urban-oriented stores is nearly ready to open.

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County to Put In Order for Amazon

L.A. County leaders join forces to try and deliver a winning bid for a regional HQ.

Developer Rolls On Office Project

Luzzatto’s West L.A. building looks to get line on nearby Expo-Bundy light-rail station.

Luzzatto Co. aims to line up its office project with easy access to a West L.A. rail stop.

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$73.8 Million for Apartments, Retail in Monrovia

A 163-unit mixed-use apartment and retail property in Monrovia has sold for $73.8 million.

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County Looks to Lead on Amazon Headquarters Proposal

The Los Angeles Economic Development Corp. and L.A. County Board Chair Mark Ridley-Thomas want the county to spearhead regional efforts to attract Seattle-based Amazon Inc.’s second headquarters, according to a letter obtained Tuesday by the Business Journal.

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CIM’s City in Sight

REAL ESTATE: Downtown vision close to completion.

CIM Group’s downtown efforts took off after bagging a grocery store for the neighborhood.

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Pasadena Real Estate Firm Chief Appointed Ambassador to Croatia

Robert Kohorst, president and founder of Pasadena-based real estate firm Everest Properties, was appointed by President Donald Trump to serve as Ambassador to Croatia.

Building on Downtown's Revival

Special Report: Who's Who in Real Estate

Office, residential and hotel projects are helping keep downtown a center of attention.

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Newly Merged Firm Springs Into Large Venture

Colony NorthStar plans trust holding $5.5 billion in commercial mortgages.

Colony NorthStar Inc. is flexing its postmerger muscles in a deal the real estate investment trust said would create the country’s second-largest publicly listed commercial mortgage REIT by equity value.

Solid Infrastructure Growth

CONSTRUCTION: LAX project tops at $1.9 billion.

L.A. County’s building boom continues to gain ground with infrastructure and general projects.

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Newmark Knight Frank Sells Madrona Business Campus in Torrance for $48.75 Million

Manhattan-based Newmark Knight Frank has completed the $48.75 million sale of the Madrona Business Campus, a four-building Class A office and medical property in Torrance, the real estate firm said Wednesday.

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Kor Group Acquires Custom Hotel for $33 Million

Venice-based Kor Group has acquired the 12-story boutique Custom Hotel in Westchester for $33 million, according to CoStar data.

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LB Airport Opens Acres for Projects

Long Beach Airport sets aside 31 acres to land aeronautical ventures.

Aging Population Spurs New Investment Course

Baby boomers’ growing use of services boosts prognosis for medical office properties.

Institutional real estate investors have developed a fever for medical office acquisitions, a condition brought on by an aging population and an attendant increase in demand for health services at medical-related offices.

Big Employers Grow Ranks

EMPLOYMENT: Private, public firms flex hire power.

Public- and private-sector businesses worked their way to higher staffing levels.

Universe Holdings Buys Nob Hill Towers for $12.6 Million

Century City-based Universe Holdings, a privately held multifamily investment firm, has completed a $12.6 million acquisition of the Nob Hill Towers apartment community located in the Westlake district of Los Angeles.

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Long Beach Airport Opens 30 Acres for Development

More than 30 acres of land have been made available for aeronautical use at Long Beach Airport, city officials announced Tuesday.

Medical Office Packs Portfolio

CBRE Global Investment Partners puts its money on medical office with pickup of 25 buildings.

Brokerages’ Dueling Data Don’t Always Match

Report criteria can affect numbers but firms say they generally agree on trends.

Real estate market data from different firms can vary, as people who follow the numbers can attest.

Grounds for Growth

New Fairplex CEO Miguel Santana sees room for more business at 487-acre site

Los Angeles County Fair Association’s new CEO works to boost the fairground’s attraction to a range of ventures.

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15-Acre USC Village to Open Thursday

The student-housing hub called USC Village, one of the largest developments ever built in South Los Angeles, is set to open to fanfare Thursday.

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CBRE Acquires 25-building Medical Office Portfolio

Downtown-based CBRE Global Investment Partners has acquired a 95 percent interest in a 25-building U.S. medical office portfolio, the company announced Wednesday.

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DoubleTree Near LAX Sold for $54.1 million

The 216-room DoubleTree by Hilton Hotel LAX in El Segundo was recently sold for almost $54.1 million, or $110,500 per room, according to CoStar data.

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Big Score for Park

Special Report: Business of Sports

LAFC’s stadium will join a growing field of attractions at Exposition Park.

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Arts District’s Growth Prospects May Lead South

Industrial properties below Seventh Street appear ripe for conversion, exec says.

Ask Cushman & Wakefield’s Arts District specialist Jae Yoo where the boundaries of the neighborhood are going to expand and he’ll point south of Seventh Street.

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Exchanges Written Off In Cutbacks

Molina checks out of Utah and Wisconsin exchanges in cost-cutting move.

Report Likes L.A.’s Future In Commercial Real Estate

Report says the local commercial market will thrive as the rest of California sees a slowdown.

Molina Healthcare to Exit Exchanges in Wisconsin, Utah

Molina Healthcare Inc. said it is leaving the Affordable Care Act health plan exchange market in Utah and Wisconsin as part of a cost-cutting plan.

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Report: L.A. Commercial Real Estate Market Robust, But California Slowing

The commercial real estate market in the L.A. metro area is expected to remain vibrant in the coming years, even as experts forecast a slowdown in other parts of the state, according to the summer/fall 2017 Allen Matkins/UCLA Anderson Forecast California Commercial Real Estate Survey released Wednesday.

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National Residential Brokerage Douglas Elliman to Acquire Teles Properties

National residential real estate brokerage Douglas Elliman announced Tuesday it was in the process of acquiring Beverly Hills-based Teles Properties.

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Report: Pay Increases Slow in Los Angeles, Nationally

The L.A. metro area’s median base pay grew 0.5 percent in a one-year period through July 17 to $59,064, below the national average of 1.2 percent, according to a report from jobs website Glassdoor released Tuesday.

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