LABJ WEEKLY EDITION
hospitality: Terranea has channeled Code into boosting hotel’s profile.
Terranea Resort touts its link to Code Conference to promote itself beyond the Internet industry.
INVESTMENT: One-third of Wavemaker’s new fund to go to Southeast Asian firms.
VC Wavemaker seeks to connect overseas with tech startups in Southeast Asia.
MEDIA: Lions Gate among content owners boosted by bid for Time Warner.
Producer-distributor Lions Gate’s star rises on increased demand for TV and movie content.
MUSIC: Swing House more than doubles space with Atwater Village facility.
Swing House Studios of West Hollywood routinely rents space to big-name bands such as Aerosmith for recording tracks or rehearsing for tours.
Last week’s major news from labusinessjournal.com and other sources
U.S. Customs and Border Protection officials in Los Angeles last week announced the largest seizure of Giant African Snails ever caught entering the Los Angeles.
Upcoming local events.
Upcoming local conventions.
Tenants, buyers have few options as lack of land limits projects to ease tight market.
Dearth of developable land grounds L.A.’s industrial market as rents soar.
Interest builds in industrial properties willing to share room with office space.
Los Angeles County’s commercial real estate rebound was in full swing last quarter as the office vacancy rate declined, asking rental rates rose and construction increased.
Despite starting off the year strong, the downtown L.A. office submarket had another weak quarter as its stable of traditional high-rise office towers continued to hemorrhage tenants.
It might not be obvious by the numbers, but Hollywood’s office submarket had a strong second quarter.
The pull of the Westside remained strong in the second quarter as employers continued to surf the economic recovery, expanding space and increasing headcount.
The Wilshire Corridor arrived at the midyear mark on a raft of steady performance. Data from Jones Lang LaSalle Inc. show asking rates of $2.42 per square foot were unchanged from the previous quarter and up from $2.35 the year prior.
Vacancy rates across the San Fernando Valley dropped to 13.7 percent in the second quarter, declining significantly from a year earlier, when the region was seeing vacancies north of 15 percent. Reasonably strong tenant demand continued throughout the quarter, with 170,400 square feet absorbed, according to Jones Lang LaSalle Inc.
A strengthening recovery and an influx of Asian investors kept the vacancy rate in the San Gabriel Valley industrial market the lowest in the region for the second quarter in a row. Vacancy is at 2.7 percent, down from 5.1 percent just a year ago and 3.5 percent last quarter, according to data from Jones Lang LaSalle Inc.
Fluctuations in the Santa Clarita Valley office market were minimal in the second quarter, confirming a trend toward stabilization.
The Tri-Cities office submarket bounced back last quarter from a slow start to the year as activity in Glendale and Burbank heated up.
The numbers for the South Bay’s industrial and office markets told different stories on the subject of second quarter performance.
David M. Smith says state should make a bigger production out of supporting show business.
L.A.’s school district is largely viewed as inadequate, the freeways are usually undriveable during rush hour, developers still face long waits for permitting and crime remains a concern.
What is the biggest challenge facing Los Angeles?
TECHNOLOGY: Mobile devices open doors to educational products.
TECHNOLOGY: Increase in mobile devices has raised some parents’ interest in producing educational products for kids.
investment: Face time seen as key to cracking L.A. market.
Firms hope the value of having a physical presence in Los Angeles will show up in more business.
finance: Westlake expands services to major dealerships.
Subprime auto lender Westlake Financial Services has taken a turn for major dealerships.
New rules let UCLA put money into startups
UCLA may graduate to startup investing now that University of California has axed its funding ban.
Golden Road crafts special brew as means to boost brand.
Craft brewer Golden Road targets airport distribution to help the brand take off.