Los Angeles Business Journal

LA REAL ESTATE

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Creating Space

DEVELOPMENT: Meta Housing paints new affordable units as artists colony in bid to boost San Pedro district. Meta Housing gets creative by framing a San Pedro affordable-housing project as an artists colony.

By Hannah Miet May 25, 2015 midnight   $$ Share

Miracle Mile Office Tower Trades for $150 Million

A joint venture of San Francisco’s Swig Co. and Boston’s Intercontinental Real Estate Corp. has purchased 6300 Wilshire Blvd. in the Miracle Mile in a $150 million deal, or roughly $371 a square foot.

NoHo Commons Retail Center Sells for $43 Million

The NoHo Commons retail center, a seminal North Hollywood development, has been acquired by an Orange County investment firm for $43 million, or about $681 a square foot, according to real estate data provider CoStar Group Inc.

Lewis Brisbois To Stay at U.S. Bank Tower

Lewis Brisbois Bisgaard & Smith is staying put.

Premium Price Paid for Burbank Shopping Center

A Burbank shopping center near the 5 freeway and Alameda Avenue has sold for $48.6 million, or about $650 a square foot. The sale far exceeded the $272-a-square-foot average sale price for the submarket, according to CoStar Group Inc.

Housing, Office Tower Proposed for Warner Center

A Van Nuys developer wants to put up a 369,000-square-foot, mixed-use project in Woodland Hills that would include 170 residential units and a 19-story office tower.

Boeckmann Family Parks $7 Million in San Fernando Office

Boeckmann Family Trust, a trust connected to the family that owns the 10 Galpin auto dealerships in the region, has purchased a 74,072-square-foot, two-story Class B warehouse on a 5-acre lot in San Fernando. The reason: Its Galpin Honda needed extra space to park cars.

DTZ to Buy Cushman & Wakefield

Cushman & Wakefield Inc., one of the biggest real estate firms in the world, will be acquired by DTZ, a global real estate services firm backed by private equity firm TPG Capital, in a deal valued at about $2 billion.

Jones Lang LaSalle Acquires Westside Retail Brokerage

Chicago real estate giant Jones Lang LaSalle Inc. acquired Brentwood retail brokerage and capital markets firm Wilson Retail Group for an undisclosed sum in a deal that closed May 7.

Briefs: Tutor Perini Wins New York Contract, Molina Tops Estimates

Tutor Perini Corp. Gets $56.3 Million Contract Tutor Perini Corp. has won a $56.3 million contract from Amtrak for the Hudson Yards project in New York City.

Long-Delayed Sale of South L.A. Retail Center Closes

Century City real estate investment firm Optimus Properties has dropped $24.3 million on a South L.A. shopping center it had been eyeing since 2001.

Pushed by Activists, Macerich Adds Independent Directors

Santa Monica mall operator Macerich Co. announced Monday the company is adding two independent directors to its board and ending its stockholder rights plan or “poison pill” in a move aimed at placating activist investors.

CBRE Acquires South Carolina Affiliate

Downtown L.A. commercial real estate giant CBRE Group Inc. has acquired one of its affiliates, CBRE Columbia, a commercial real estate services firm in South Carolina.

Snyder Signs First Tenant at Hollywood Development

Miracle Mile developer J.H. Snyder Co. has signed its first lease for a creative office campus it is building in Hollywood.

Judge Halts Millennium Hollywood Project

A state judge on Thursday halted plans for two massive and controversial skyscrapers in Hollywood, ruling that the city of Los Angeles failed to adequately assess the $1 billion project’s traffic and neighborhood impacts.

Kroenke Adds to L.A.-Area Portfolio

St. Louis Rams owner Stan Kroenke’s Kroenke Group, a Columbia, Mo., real estate investor and developer, acquired a portfolio of five retail properties in the San Fernando Valley last month for $115 million.