Los Angeles Business Journal


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

UCLA Acquires Oxy’s Former Westwood Home

UCLA has purchased the former headquarters of Occidental Petroleum Corp., which relocated to Houston last year, for $92.5 million.

Capital Improvement as Finance Firm Signs Long-Term Lease

Capital Group Cos., one of downtown L.A.’s biggest tenants, made a commitment last month to stay at 400 S. Hope St. for 15 more years after its lease runs out in 2018.

New York Life Bets on Life in Culver City

New York Life Real Estate Investors has made a $131.3 million bet on Culver City.

New Lease Develops at Kodak Site in Hollywood

SIM Group, which provides services to the entertainment industry, signed a 10-year lease last month for 65,000 square feet at the Eastman Kodak Co. campus at 1017 N. Palmas Ave. in Hollywood. Sources said the lease is valued at almost $45 million.

Century National Properties Sells Calabasas Office for $24 Million

Adler Realty Investments Inc. of Woodland Hills has purchased a 100,000-square-foot office building in Calabasas for $24 million from Santa Monica’s Century National Properties Inc.

Lionstone Buys One Bunker Hill, Rising Realty Will Manage

After converting downtown L.A.’s historic PacMutual building into sought-after creative space and selling it for $200 million last month, Houston real estate investment firm Lionstone Investments and downtown developer Rising Realty Partners will soon be at work on another old building downtown.

Hakim Holdings Acquires Golden Triangle Site

Hakim Holdings has purchased a four-story, 61,000-square-foot Class B office building at 9350 Wilshire Blvd. in Beverly Hills. The firm shelled out $48 million late last month to Lexington Commercial Holdings for the property in the city’s famed Golden Triangle retail sector.

Molina Signs Large Lease in Downtown Long Beach

Long Beach’s fast-growing managed care provider Molina Healthcare Inc. recently signed a deal that will expand its footprint on its home turf.

Brewer Signs Massive Asuza Lease as Part of Expansion

Petaluma beer firm Lagunitas Brewing Co. has signed a 254,800-square-foot lease at 10th Street Center, a new three-building, 342,600-square-foot industrial business park on 21.6 acres on 10th Street in Azusa.

Investors See Upside in Purchase of Cerritos Office Building

A struggling Cerritos office property changed hands earlier this month for $30.5 million.

Sunny Hills Buys LAX Office for $61 Million

In the largest office building trade in the LAX submarket in over a decade, Sunny Hills Management Co. Inc. of West Covina has paid $61.3 million for the Airport Spectrum, a 500,000-square-foot Class A office campus that sits at the entrance to Los Angeles International Airport.

Bay Area Firm Buys Malibu Apartments for $62 Million

San Francisco firm Pacific Eagle purchased Villa Malibu, a 68-unit, 136,000-square-foot Class A luxury apartment community on a 10-acre site at 6487 Cavalleri Road in Malibu earlier this month from Washington, D.C., private equity firm Carlyle Group for $62 million, or roughly $912,000 a unit.

Barrack Engineers Merger of Home Rental Businesses

Thomas J. Barrack Jr., executive chairman of L.A. investment management firm Colony Capital, has extended his reach in the residential market.

Burbank Airport Center Sells for Nearly $20 Million

The Burbank Airport Center has changed hands for $19.8 million, or about $220 a square foot.

Albertsons Puts Two Large Industrial Sites on Market

Albertsons Cos. Inc. has put two huge Los Angeles County distribution centers up for sale.