Stocks surged on Wednesday after President Donald Trump announced a 90-day pause on most previously announced tariffs.
The pause impacts 75 trading partners that did not retaliate against the tariffs.
China, however, which did place retaliatory tariffs on U.S. goods, now faces even larger tariffs of 125%.
The S&P gained more than 9% the day the pause on tariffs was announced, the most it has jumped in years. On Thursday, the S&P fell 3.5%.
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Jim Kruse, a real estate industry veteran, has been named director of brokerage for Encino-based NAI Capital’s 13 offices in Southern California. He is based in the firm’s West Los Angeles office and will focus on creating a brokerage training program and recruitment initiatives.
Kruse was previously the regional president of brokerage for Kidder Mathews’ Los Angeles offices. During that time, he helped the brokerage grow locally. Before that, he spent 15 years as a senior managing director at CBRE Group Inc. and was the chief executive of DPI Retail, among other roles.
“Jim’s exceptional leadership and industry expertise make him the perfect fit to train and recruit top talent for our brokerage team across Southern California,” Chris Jackson, chief executive of NAI Capital Commercial, said.
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Santa Monica Place is now under new management. Prism Place, which has an office in Playa Vista, has been named the shopping area’s property manager.
The center is directed by Trigild, which was appointed by a court to take control of the 527,000-square-foot retail center.
It was original designed by famed architect Frank Gehry and underwent a $265 million upgrade in 2010. Santa Monica-based Macerich Co. defaulted on its $300 million loan on the center last year.
“While challenges have led to vacancy at both Santa Monica Place and its neighboring retail district, Third Street Promenade, the City and State have made crucial policy changes that will allow for Santa Monica’s recovery,” Stenn Parton, founder and chief executive of Prism Places, said in a statement.
