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It’s a sign that Pacific Rim investors are interested in locations outside of downtown Los Angeles, sometimes at an extreme premium.
IRA Realty Capital saw a $6 million gain late last month when it sold a Pasadena medical office property it acquired just last year.
Mid-Wilshire’s CIM Group has sold a seven-story, 87,000-square-foot Class A office building at 1800 N. Highland.
The creative office conversion craze that has swept through Santa Monica, Playa Vista and El Segundo is reaching deeper into the South Bay, if a recent sale in Torrance is any indication.
Developer Fred Afari has snatched up International Church of the Foursquare Gospel’s 15-property portfolio in Echo Park, paying nearly $18 million for the package.
Lincoln Property Co. and Linwood Investments have sold a 103,800-square-foot, Class A creative office campus in Pacific Palisades to New York real estate equity firm Brickman for $53 million, or roughly $500 a square foot.
WeWork, a New York operator of co-working facilities, is close to signing a lease for roughly 90,000 square feet at the Gas Co. Tower in downtown Los Angeles, according to sources with knowledge of the deal.
Santa Monica design firm DLR Group is moving its regional California office to downtown Los Angeles.
After getting a taste of the creative office market in Playa Vista, New York real estate firm Tishman Speyer set its sights on the blossoming market in El Segundo.
A Canadian developer snatched up a Manhattan Beach office property for roughly $96 million at auction last week.
CBRE Group Inc. announced Tuesday it had acquired PKF Consulting Inc.’s Canadian operations, known as PKF Canada, for an undisclosed sum.
Cain Hoy Enterprises, a Greenwich, Conn., private investment firm, shelled out $130 million for the 118,400-square-foot Class A office building at 100 N. Crescent Drive. The seller, New York’s Clarion Partners, purchased the building in 2012 for $80 million, a 63 percent return in three years.
Cal State Los Angeles is opening a campus in downtown Los Angeles, having signed a 10-year lease late last month for 21,000 square feet at 801 S. Grand Ave. in the Financial District.
Karney Management Co., a Brentwood firm run by Aliza Karney Guren and her sister, Susanna Karney Flaster, has set its sights on Culver City.
Chinese e-commerce giant Alibaba Group is coming to Los Angeles.