Los Angeles Business Journal

Positive Absorption Returns as Downtown L.A. Becomes Draw

The downtown L.A. office market saw gains in the first quarter as more than 110,000 square feet were absorbed by a mix of relocations and internal expansion.

Tri-Cities Landlords Hike Asking Rents Despite Gaining Space

The Tri-Cities office market slowed a bit in the first quarter as tenants vacated space, but landlords remained bullish in the face of the setback.

Vacancy Dip Healthy Development for Construction

The Los Angeles County office market continued to heat up for its third consecutive quarter, helping reinvigorate construction and redevelopment across the area to levels last seen five years ago.

Market Gives Back Space But Landlords Still Hike Up Rents

The numbers say Hollywood had a slow first quarter, but it would be hard to tell from a landlord’s or developer’s perspective.

Tenants Stay Put, But Smaller Renewals Drive Up Vacancy Rate

Downsizing defined downtown Los Angeles last quarter.

Deals by Small, Midsize Firms Feed Steady Office Market Recovery

The Los Angeles County office market continued its tepid but steady recovery last quarter.

Flood of Small Leases Ends Yearlong Run of Rising Vacancies

A flurry of small lease deals last quarter helped turn around what had been a year of rising vacancy in the Hollywood office market.

Santa Monica’s New Direction?

DEVELOPMENT: City mulls project for east of Promenade.

Santa Monica takes a new development direction with a proposed project east of the Third Street Promenade.

Gambling Business Bets on Santa Monica Space

LEASE: Caesars Interactive division signs deal for top floor on Colorado Avenue.

An online and mobile gaming division of casino operator Caesars Entertainment Corp. in Reno, Nev., is preparing a large expansion in Santa Monica.

Compton Deal Sustains Industrial Pickup Pace

ACQUISITION: $14 million property among 800-plus sold in L.A. this year.

The sale last month of a 152,000-square-foot Compton industrial building, fully leased to Kroger Co.’s Ralphs and Food4Less divisions, was yet another spark in a particularly hot market.

Developer Sold on Glendale Shopping Complex

ACQUISITION: Cypress pays $50 million in area’s highest retail deal of year.

A shopping center across the street from Glendale’s successful outdoor mall Americana at Brand has sold for $50 million in one of Los Angeles County’s largest retail sales this year.

Billionaire’s Boat Makes Big Splash

Rick Caruso looks to anchor megayacht by Newport Beach.

Rick Caruso looks to anchor megayacht by Newport Beach.

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Amazon Deal Big Production

Real Estate: Online giant to open studio on Westside.

Amazon.com is sold on Westside office space as a home for the online retailer’s entertainment unit.

Pair of Office Sales Pumps Up South Bay Market

ACQUISITIONS: Torrance properties purchased for combined $77.5 million.

The South Bay office market is heating up.

Developers Nail Down Construction Projects


Climbing property values and asking rates spur a surge in ground-up projects.

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Building Momentum

REAL ESTATE QUARTERLY: Investors flock to L.A.’s rebounding office market, driving deal volume and prices to highs not seen in years.

Building buyers are moving into Los Angeles to get in on the ground floor of the office market’s nascent recovery.

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Real Estate Firm to Recast Talent Agency’s HQ

ACQUISITION: Property picked up for $66 million by Kennedy-Wilson.

Kennedy-Wilson Holdings Inc. has acquired the Beverly Hills office buildings that were once home to talent agency William Morris Endeavor in a $66 million deal.

Postproduction Business Boosts Scene in Burbank

LEASE: Pivotal Post signs 10-year deal in market hit by Disney’s departure.

Postproduction company Pivotal Post is moving its headquarters to Burbank, a good omen for the media-driven city that was hit with high vacancy rates when Walt Disney Co. consolidated its offices earlier this year.

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Slow Build-Up

development: City Ventures gets rolling on stalled residential project just as Pasadena condominium market takes off.

City Ventures has finally moved into constructing residences on a church’s former college campus.

Westside Deal Thins Landlord’s L.A. Portfolio

SALE: Ocean West pays Jamison $54 million for Westwood Terrace building.

Jamison Services Inc., Dr. David Lee’s Koreatown real estate investment vehicle, has continued to pare back its holdings, striking a deal to sell Westwood Terrace for $54 million.

Hyatt Regency Century Plaza to Seek Historical Status

Owners of the Hyatt Regency Century Plaza Hotel are seeking historical cultural monument status for the famed Century City site, which they had proposed demolishing only years ago.

Glendale Purchase Towers Over Tri-Cities Deals

ACQUISITION: $96 million for office building is highest in market this year.

A 22-story Glendale office tower has traded hands for $96 million, the highest price paid for a single property in the Tri-Cities market this year.

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Full Houses

Home theater, waterfall not enough at high end

Finding room for luxury amenities has become a must for some L.A. mansion buyers and owners.

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Lantana Deal A Blockbuster?

PROPERTY: Media complex may fetch over $278 million.

Investment firm’s deal for entertainment-focused office complex could be a blockbuster.

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Small Cap, Big Pay

Special Report: Executive Compensation

Chief executives at small-cap companies stocked up on fatter paychecks as the markets’ recovery broadened.

Office Complex Purchase Shores Up Playa Vista

ACQUISITION: $27 million deal a rare sale in popular Westside leasing market.

A two-building Playa Vista office complex has traded hands for $27 million in a rare sale for the submarket.

Envelope Maker Headed For Dead Letter Office?

PAPER: Company under Gores Group’s control files for bankruptcy.

Gores Group could be addressing problems with a supply contract by having National Envelope file for bankruptcy.

Playa Vista Building May Score Video Game Maker

REAL ESTATE: Riot lease would be market’s largest deal in five years.

Playa Vista office building is in play as the future home of video game company Riot.

Insurer’s Exodus Puts Hit on Park Mile Market

VACANCY: Farmers’ move of HQ to Woodland Hills lifts vacancy to 70 percent.

The departure of Farmers Insurance Group from its longtime Wilshire Boulevard headquarters is a blow to the already struggling Park Mile submarket.

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Beached Property

REAL ESTATE: Bank finally works to turn shoreline eyesore into luxury condos.

Latest owner looks to shore up long-delayed luxury condo development in Malibu.

Brokerage Moves HQ from Westside to Downtown

LEASE: CBRE to bring together HQ with other offices on Hope Street.

CBRE Group Inc., one of the world’s largest commercial real estate brokerages, is moving its headquarters to downtown Los Angeles from the Westside.

Buyer Locks Up Office Building for $12.7 Million

ACQUISITION: Deal for Culver City property is second-highest in last year.

A 51,288-square-foot Culver City office building has sold for $12.7 million in the second-highest sale in the city in the last year.

Laid-Back Luxury Looks To Clean Up

Horizontal shower makes splash with $35,000 price tag.

Maker of horizontal shower wants customers to take product’s high price lying down.

Developer Clears Out of Mixed-Use Complex

SALE: Thomas Properties sheds El Segundo project in $48.1 million deal.

Thomas Properties Group Inc. has sold a large El Segundo site on which it had planned to build a nearly 2 million-square-foot mixed-use complex for $48.1 million.

Homebuilder Rises as It Moves Back Into Markets

CONSTRUCTION: Stock of Ryland buoyed by run of recent acquisitions.

Ryland is building momentum as it buys back into markets the company fled during the downturn.

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Hoteliers Find Rooms in L.A.

HOSPITALITY: Developers check into projects amid recovery.

Hoteliers have shed their recessionary reservations to move forward on a host of projects.

Reality Show Producer Fine-Tunes Headquarters

LEASE: Fremantle Media consolidates space with 10-year deal in Burbank.

Entertainment company Fremantle Media North America, producer of television shows such as “American Idol” and “X Factor,” is consolidating its headquarters in Burbank.

Family Fellowships By Design

Daughter follows dad to study architecture at academy in Rome.

Father and daughter keep it in the family with their fellowships to American Academy in Rome.

Ryland Buys Texas Homebuilder

Ryland Group Inc. is acquiring luxury homebuilder LionsGate Homes in Carrollton, Texas, the company announced Friday.

BofA Settles With Mortgage Insurer

Bank of America Corp. has agreed to pay mortgage insurer MBIA Inc. $1.6 billion to settle legal disputes related to home loans from its Countrywide Financial unit that were packaged into securities during the financial crisis, the bank announced Monday.

Post Production Firm Stars in Office Acquisition

Purchase: Shapeshifter’s $5.2 million deal one of year’s highest in Burbank.

A post production company has bought an office building in the heart of Burbank’s Media District in one of the highest sales of its kind in the city this year.

Area Hotel Checks In as Pedal Pusher

AKA Beverly Hills looks to steer guests to complimentary bikes.

AKA Beverly Hills hotel peddles complimentary bikes as a draw for guests.

Hair Product Takes Root On TV

Toppik’s head topper fills in blanks for actor portraying president.

Toppik Hair Building Fibers comes out ahead after it plays a role in making a bald actor look like President Obama.

Success Still in Cards for Prepaid Debit Pioneer

FINANCE: Green Dot revenue beats expectations despite rise in competition.

Investors put their money on prepaid debit card company Green Dot after healthy quarterly report.

Online Postage Company Finds Way on Wall Street

INTERNET: Stamps.com’s stock surges after beating earnings expectations.

Online postage company Stamps.com delivers on Wall Street with strong earnings.

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Investment Group Has Armani Boutique in the Bag

ACQUISITION: Jenel takes Beverly Hills retail-office property for $40 million.

The Beverly Hills home of Emporio Armani Boutique has been sold for an estimated $40 million.

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Studios’ Next Stages

Real Estate Quarterly

Three Hollywood studios expand their roles in the real estate market with large local projects.

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Bread Maker Doesn’t Loaf On Nostalgia

La Brea Bakery giving away hometown trip in grilled-cheese contest.

La Brea Bakery seeks to get a rise out of customers with a grilled-cheese sandwich promotion.

Homes Sales Remain Flat in County

The number of Los Angeles County homes sold in March remained flat compared with a year earlier while the median sale price soared as fewer homes were listed for sale.

Pacific Design Center Looks to End Vacancy Streak

REAL ESTATE: Vet exec brought in to land first tenants for Red Building.

Pacific Design Center brings in vet exec to get a new lease on life in signing Red Building tenants.