Los Angeles Business Journal


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

Judge Halts Millennium Hollywood Project

A state judge on Thursday halted plans for two massive and controversial skyscrapers in Hollywood, ruling that the city of Los Angeles failed to adequately assess the $1 billion project’s traffic and neighborhood impacts.

Kroenke Adds to L.A.-Area Portfolio

St. Louis Rams owner Stan Kroenke’s Kroenke Group, a Columbia, Mo., real estate investor and developer, acquired a portfolio of five retail properties in the San Fernando Valley last month for $115 million.

N.Y. Investor Enters L.A. Market With Record Deal

Joss Realty Partners, a New York real estate investment firm making its first investment on the West Coast, has entered the market in a big way, buying a Santa Monica office building for the highest price per square foot ever in Los Angeles County.

Soho-Adjacent Site Downtown Trades for $11.5 Million

In addition to attracting bold-face names, London private club Soho House, which opened a West Hollywood outpost in 2010, has apparently become a magnet for real estate investment.

Second Geffen, Mani Malibu Deal Hits Record Price

Billionaire entertainment titan David Geffen and West Hollywood investor Mani Bros. Real Estate Group have continued their Malibu swapathon.

Former Wham-O, Sriracha Factory Gets New Lease on Life

Olson Co., the largest residential developer in San Gabriel, has sold part of the property that used to house the Wham-O toy factory and was later occupied by Sriracha maker Huy Fong Foods.

JibJab Dances Into Marina

JibJab Bros. Studios, a digital media production company known for comical e-cards, has relocated from Venice into a 21,000-square-foot Class C freestanding office in Marina del Rey.

Foursquare Church Lists Echo Park Portfolio

The International Church of the Foursquare Gospel, founded by evangelist Aimee Semple McPherson in 1923, put 14 of its properties in Echo Park up for sale last month.

Law Firm Gets Creative – Space

Downtown L.A.’s PacMutual, which has been repositioned to appeal to creative office tenants, last month signed its second-largest lease with an unexpected tenant: a new law firm.

Pacshore, Canyon Make Creative Office Grab

Pacshore Partners, an L.A. real estate investment firm run by Philip Orosco, and Canyon Catalyst Fund, a joint venture between L.A.’s Canyon Capital Realty Advisors and California Public Employees’ Retirement System, have partnered to acquire creative office buildings in Malibu and Playa Vista in two separate transactions totaling $36 million.

CBRE Buys Johnson Controls Unit for $1.48 Billion

Downtown L.A. commercial real estate giant CBRE Group Inc. has purchased the Global Workplace Solutions unit of Milwaukee’s Johnson Controls Inc. for $1.475 billion.

Westin Pasadena Hotel Sells High

In what Bruce Baltin of hospitality consulting firm PFK Consulting USA said was one of the biggest hotel deals in Los Angeles County this year, Carey Watermark Investors Inc., a New York real estate investment trust, bought the Westin Pasadena for $143 million, or about $408,000 a room, last week.

Briefs: Kite Pharma Sinks on Q4 Loss, Arts District Site Sells for $130 Million

Kite Pharma’s Shares Fall After Q4 Loss Despite detailing a year full of landmark deals in its 2014 earnings report, Santa Monica biotech firm Kite Pharma Inc.’s shares fell 7.26 percent to $57.75 on Thursday.

Sportsmen's Lodge Project is Approved

After a contentious, five-hour Wednesday evening hearing, developer Richard Weintraub won the right to demolish the historic Sportsmen’s Lodge event center in Studio City and replace it with a 97,800-square-foot, mixed-use development.

Security Software Firm Loads Up on Marina Office Space

TeleSign, a maker of identity verification software, is more than doubling its space in Marina del Rey by moving into a bigger headquarters.