Los Angeles Business Journal


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

Storied PCH Property May Be Resurrected

A storied property along Pacific Coast Highway that has seen its share of monkey business is about to take on a new role.

Briefs: Live Nation Suit Dismissed, Engel & Völkers Opens in Beverly Hills, Guess Settles Suit

Court Rules in Favor of Live Nation: A federal court in Maryland yesterday ruled in favor of Beverly Hills concert giant Live Nation Entertainment Inc. and dismissed all claims in a lawsuit filed in 2009 by It’s My Party Inc. and It’s My Amphitheatre Inc., whose principal is concert promoter Seth Hurwitz. The lawsuit had alleged violations of federal and state antitrust laws.

Kite Signs Lease in El Segundo

Santa Monica biotech firm Kite Pharma Inc. has signed a lease for a commercial manufacturing facility in El Segundo near Los Angeles International Airport.

Krekorian Opposes Weddington Complex

Los Angeles City Councilman Paul Krekorian announced his formal opposition to a proposed senior condominium development at the Weddington Golf & Tennis complex in Studio City along the L.A. River.

Downtown Developer Buys Site of Popular USC Watering Hole

The site of popular USC hangout 901 Bar & Grill has been sold, and the deal might portend changes coming to the corner of South Figueroa and 30th streets.

CIM Turns Big Profit in Off-Market Deal

The former Beverly Grove home of the pension and health fund for the Directors Guild of America has been sold for $24 million by CIM Group Inc.

James Frost Promoted to COO of Tutor Perini

Tutor Perini Corp. has promoted longtime company executive James Frost to president and chief operating officer.

Larsen, Leading Downtown Broker, Lands at Avison Young

Jonathan Larsen, the former regional managing partner at DTZ/Cassidy Turley’s downtown L.A. office, has assumed the role of managing director and principal at Avison Young.

Hackman Sells Beats HQ in Culver City

Hackman Capital Partners, a West L.A. real estate investment and development firm that wagered on creative office space in Culver City nearly a decade ago, has seen its bet pay off.

Hollywood Company Plans Sun Valley Studio Complex

A Hollywood film and television production and rental company is proposing to build a 220,000-square-foot studio complex on 10 acres in Sun Valley.

Cerritos Industrial Site Trades for Premium Price

Newport Beach investor Alere Property Group bought the 17.5-acre Cerritos West Industrial Park late last month, banking on its ability to take advantage of a tight industrial market by raising rents.

Laurus Pays Top Dollar for Pasadena Office Property

Century City real estate investment and development firm Laurus Corp. has purchased a 163,000-square-foot, eight-story building in Pasadena for $52.5 million.

Playa Vista’s Reserve Sells for $316 Million

The Reserve, a nearly 400,000-square-foot creative office campus in Playa Vista, was sold last week to Atlanta real estate fund Invesco for $316 million. At about $790 a square foot, the price was among the highest paid for an office property in the region.

Downtown L.A.’s Biggest Landlord Seeks to Hack Through Vacancies

One way to address a whopping large vacancy in your office building is to dress it up a little. That’s what Brookfield Property Partners, the largest office landlord in downtown Los Angeles, will be doing for two of its properties. The company has set up a competition of sorts among six downtown architecture firms, asking them to design the office of the near future, with only budgets and time lines as the ground rules.

L.A. Multifamily Properties Lure Out-of-Town Investors

Laguna Niguel real estate investor Raintree Partners significantly boosted its L.A. presence at the end of the year, snapping up a two-property multifamily package that added 327 units to its portfolio.