Los Angeles Business Journal

LA REAL ESTATE

Recent and archived news stories on: Apartments, Architecture, Brokers, Construction, Housing, Mortgages, Offices, Property Management, Realtors...

Co-Working Space Still Campaigns for Ad Firms

REAL ESTATE: El Camp’s founder Eric Johnson sees strength in sector focus.Founder of co-working space El Camp still sees ad industry focus as a plus.

By Daina Beth Solomon July 22, 2016 midnight   $$ Share

Los Angeles Clippers May Leave Staples Center for Westside

The Los Angeles Clippers could be moving out of downtown’s Staples Center once their current lease expires in June 2024, ESPN reported Wednesday.

Playa Vista Office Acquisition Sets Record High

SALE: Tech influx helped drive up Playa Jefferson’s price tag to $165 million.

Playa Jefferson has sold for $165 million, or $843 a square foot, making it Playa Vista’s priciest office sale, according to sources familiar with the deal.

June Los Angeles Residential Real Estate Market Heats Up

The number and price of homes sold in the Los Angeles metropolitan area continued their upward trend this year in June, according to data from the Seattle real estate company Redfin.

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L.A. Metro Sued Over Downtown Project

An outdoor mall in Little Tokyo sued the Los Angeles County Metropolitan Transportation Authority Wednesday in an attempt to halt construction of the major rail project in downtown.

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Founder: Boutique Chain Undone by Legal Ties

RETAIL: Ross Fraser goes after former representation for collapse of his Kitson.

Kitson founder Fraser Ross says his former lawyers and chain’s ex-CEO busted his business and cost him millions.

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SPECIAL REPORT: Rebuilding Blueprints

Specter of city of L.A. voter initiative that would impose construction restrictions for two years has spurred some property developers to speed up, reposition, or postpone projects.

Fear of a proposed initiative restricting construction projects has real estate firms redrawing their plans for the city of Los Angeles.

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SPECIAL REPORT: Rental Rates Rise as Office Vacancies Dip

Office vacancy rates in Los Angeles County tightened slightly in the second quarter, with rental rates reaching record peaks.

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Yamashiro Restaurant in Hollywood Ready for Revamp

The future of Japanese restaurant Yamashiro in Hollywood is looking brighter following a period of flux after the property sold to a Chinese hotel company. The eatery recently reopened under new management by companies Boulevard Nightlife Group and Sugar Factory, which are planning upgrades to the space and the menu.

Philanthropy Builds Up At L.A. Mission

PCL Construction renovates restroom for Skid Row institution.

PCL Construction gives, and Los Angeles Mission receives, a new restroom.

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Design Studio Has New Plan For Property

Woo hopes to convert spare room at store into space for artists.

Design studio and boutique Woo pitches shop space as home for artistic pursuits.

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Buyer Pictures Plaza in Koreatown as Hot Spot

ACQUISITION: ArcWest’s deal for historic Chapman site valued at $53 million.

Seizing on Chapman Plaza’s appeal as a hip dining and nightlife scene, ArcWest Partners has purchased the Spanish revival-style marketplace in Mid-Wilshire.

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AEG Drops Planned LA Live Hotel Expansion

Anschutz Entertainment Group is abandoning plans to build a 755-room hotel next to its Ritz-Carlton and J.W. Marriott tower at downtown’s L.A. Live. The move comes as AEG claims that a planned 1,000-room hotel to be developed by the city across the street infringes on its property rights.

AEG Drops Plans for DTLA Hotel

Anschutz Entertainment Group announced Tuesday that they are dropping plans for a 755-room high-rise Marriott hotel near Olympic Boulevard, the Los Angeles Times reports. The project came to a halt because of the city’s plans to modernize the convention center and include a 1,000-room on-site hotel, a project that would pose competition to AEG’s entertainment complex L.A. Live.

Buyer Thinking Small With Mid-Wilshire Pickup

ACQUISITION: Optimus moves into ‘microunits’ with $2.5 million deal.

Optimus Properties is jumping on the “microunit” trend with its new apartment building. The Century City real estate investment company paid $2.5 million for a Mid-Wilshire building where the 15 units range from 350 to 500 square feet.