Los Angeles Business Journal

LA REAL ESTATE

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

Glendale Office Garners Highest Post-Recession Price

A 16-story office building in Glendale sold last month for more than $83 million, a price not seen in the city since before the recession.

Forecloses Jump in December, Fall in 2014

Foreclosures in Los Angeles County jumped significantly in December, up 44 percent from November. But despite the month-over-month increase, the 2014 foreclosure rate countywide was down 18 percent from 2013, according to a report released Thursday.

Venice Office to Return to Retail Roots

A small Class C office building, along with an adjacent parking lot, at the west end of Abbot Kinney Boulevard in Venice sold last month for $15.5 million.

KB Home Plunges After Warning of Lower Margins

Despite reporting a year-end surge in profits, Los Angeles homebuilder KB Homes saw its stock plummet 16 percent Tuesday after its chief executive said the company expected a drop in gross margins in the current quarter.

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Beachbody Bulks Up in Santa Monica

Santa Monica multilevel marketing firm Beachbody, best known for infomercials selling its exercise and body-sculpting DVD programs Insanity and P90X, is bulking up at the beach.

Developers Fight Malibu Measure with Federal Lawsuit

Two property developers on Monday filed a federal lawsuit against the city of Malibu to block a ballot measure voters approved in November to limit chain stores and large commercial projects.

Largest L.A. Law Firm Relocates Following DaVinci Fire

Less than two weeks after a fire damaged its downtown L.A. headquarters, law firm Lewis Brisbois Bisgaard & Smith agreed to move to the iconic U.S. Bank Tower building at 633 W. Fifth St.

Maguire Secures Investment in Water’s Edge Campus

Real estate investment firm DivcoWest announced Thursday that it has completed a joint venture with storied L.A. developer Rob Maguire to gain an interest in his Playa Vista creative office campus, Water’s Edge.

Tutor Perini Settles Vegas Case

Tutor Perini Corp. has reached a nearly $190 million settlement with the owners of the CityCenter project in Las Vegas over a hotel that never opened due to alleged construction flaws.

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Uber Parks in Larger Santa Monica Offices

Despite a deluge of bad publicity in recent months, San Francisco ridesharing company Uber Technologies Inc. has decided to put down deeper stakes in Silicon Beach.

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Chinese Freight Firm Signs Large Lease in Cerritos

OTX Logistics Inc., an international freight-forwarder based in Hong Kong with U.S. headquarters in Los Angeles, has signed a lease to move inland from the South Bay to consolidate and expand its warehouse footprint by more than 360 percent.

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New York Co-Working Space Signs Large Santa Monica Lease

WeWork, a company that rents shared office space to fledgling entrepreneurs, has signed a 10-year lease for a little more than 40,000 square feet at 520 Broadway in Santa Monica.

Could Carson be Home of NFL Stadium?

The Los Angeles area already has three potential sites for an NFL football stadium. But now, there appears to be a fourth.

Caruso Closes on Sale of Palisades Site

Billionaire developer Rick Caruso announced Tuesday that his real estate company, Caruso Affiliated, has completed the purchase of a portfolio of retail properties in Pacific Palisades along Swarthmore Avenue.

Tutor Perini and Partners Get Big Dig Settlement

Tutor Perini Corp. and two joint venture partners have reached a $88.7 million settlement with the state of Massachusetts over litigation on the “Big Dig” project through central Boston.