LABJ WEEKLY EDITION
TECHNOLOGY: Summit to spotlight diversity among local industry ventures.
From virtual reality to drones, raising capital to marketing a startup, the upcoming L.A. Tech Summit in Santa Monica will explore the far-flung corners of the local tech industry.
INTERNET: Peter Guber-led acquisition of Team Liquid could prove game-changer.
Peter Guber has drafted a veteran team of investors in his move into the e-sports field
Port Works to Keep Cargo Containers in Check
Pier pressure mounts at ports as Hanjin Shipping’s emptied containers begin to stack up.
DEVELOPMENT: Repairs to street could hinder access to Golden Triangle shops.
Beverly Hills shop owners fear doing poorly during road reconstruction near a ritzy retail strip.
Transamerican Auto Parts is shifting into high gear after revving its way out of financial turmoil.
ADVERTISING: Number of targets for Engage:BDR bumped up to 15 from 12.
Engage:BDR is completely committed to buying firms to round out its offerings to clients.
ENERGY: Rule changes by city of L.A. include hike in cost of permit process.
A trade group representing small local oil producers is upset over changes to the city of L.A.’s drilling permit regulations and wants those changes rolled back.
ENERGY: SolarReserve’s project would be world’s largest thermal facility.
SolarReserve last week announced it is aiming to build a $5 billion, 10-tower solar thermal project – the largest such facility in the world – on a plot of land in Nye County, about 225 miles northwest of Las Vegas.
Food giant’s investment feeds confidence of faux meat maker
Tyson Foods Inc.’s purchase of a 5 percent stake in Beyond Meat last week was hailed as an affirmation by the El Segundo-based company’s chief executive, Ethan Brown.
Legal victory by Los Angeles County could shut door on property owners avoiding payment of transfer taxes – as well as dodging reassessments – by using holding companies, trusts as ownership vehicles
Legal win by Los Angeles County regarding the ownership transfer in a multifamily sale could open the door to more property reassessments.
The L.A. office market saw a solid third quarter, with the vacancy rate narrowing to 14.8 percent from 16.2 percent in the same period last year, according to data from Jones Lang LaSalle.
Downtown’s office vacancy rate fell slightly in the third quarter, to 16.3 percent from 16.4 percent in the prior quarter, and compared with 18.2 percent in the same quarter a year ago.
Hollywood’s office vacancy rate dropped in the third quarter, falling to 27.6 percent from 28.7 percent in the prior quarter, but is still almost twice the 14.2 percent of the year-earlier period.
The Westside’s office vacancy rate decreased slightly in the third quarter, reaching 13.6 percent from 13.7 percent in the prior quarter, and compared with 14.5 percent in the year-earlier period.
The Santa Clarita Valley’s office vacancy rate rose, reaching 11.5 percent from 11.2 percent in the prior quarter, and compared with 13 percent in the year-earlier period.
The San Fernando Valley’s office vacancy rate dropped slightly in the third quarter to 13.3 percent from 13.4 percent in the prior quarter and compared with 14.3 percent a year earlier.
The office vacancy rate in the Tri-Cities had no change in the third quarter, staying at 12.3 percent, compared with 14.2 percent in the same period in 2015
The Wilshire Corridor’s office vacancy rate stayed fairly flat in the third quarter, dipping to 18.3 percent from 18.5 percent in the prior quarter, and compared with 19.9 percent in the year-earlier period
The South Bay’s industrial vacancy rate rose in the third quarter to 0.8 percent from 0.6 percent in the prior quarter. The market saw 3.1 million square feet of sales and leasing activity, with 2.3 million square feet under construction.
The San Gabriel Valley’s industrial vacancy rate increased to 0.7 percent from 0.6 percent in the prior quarter. Roughly 2.8 million square feet were leased and sold, up from 1.9 million square feet in the second quarter.
Calendar of events
Our reader poll this week asks whether one of L.A.’s few unicorns, Honest Co., should continue to look for an acquirer, as has been reported, or pursue an exit through a public offering.
Plastic bag maker moved early to get a handle on recycled content requirements.
TV: Downward pressure on ad rates may curtail production.
Decreasing ad rates may finally pull the plug on the run-up in production of scripted shows.
ADVERTISING: New name, execs help guide Supermoon.
Veteran agency hits the trail for campaigns with a new name and executive leadership.