Bernard Arnault, one of the richest men in the world and the head of a luxury-brand empire, has acquired a Rodeo Drive storefront for $85 million, sources told the Business Journal. The price is believed to be the highest on a square-foot basis ever in Los Angeles County.
LEASE: Expanding Jacobs relocates headquarters to larger space in city.
Engineering and construction giant Jacobs Engineering Group Inc. is moving its headquarters into new Pasadena digs.
Downtown’s landmark U.S. Bank Tower, which is owned by struggling MPG Office Trust Inc., could be heading for loan default.
New York insurance giant MetLife Inc. has become a joint owner of the Loews Hollywood Hotel next to the Hollywood & Highland Center.
Inventor hopes to spin off-kilter creation into speedy, stable sales.
David Patrick hopes to spin his new Shark Wheels into must-haves for bikes, strollers and even cars.
Carlos Siderman fled Argentina two steps ahead of military kidnappers. When he came to the U.S., he started a real estate hazard disclosure firm.
Carlos Siderman fled Argentina in the 1970s and launched his hazard disclosure service when he got to the United States
ACQUISITION: Wal-Mart, Burlington Coat Factory buildings draw $25 million.
In one of the largest retail property sales in the San Fernando Valley this year, the Fallbrook Center mall’s Wal-Mart and Burlington Coat Factory buildings were sold last month.
RENOVATION: Carlyle plans $10 million facelift for Culver City DoubleTree.
The Culver City DoubleTree by Hilton hotel is set to receive a $10 million makeover.
Hollywood eateries stake claim in cleaned-up alleys
Hollywood restaurants back into more room by dressing up alleyways for additional space.
ACQUISITION: Office complex draws $34 million from Neil Kadisha.
Billionaire Neil Kadisha’s investment vehicle is picking up yet another underperforming office complex: a Torrance building for $34 million.
REAL ESTATE: $35 million for Clock Tower in Santa Monica city’s richest sale in three years.
Buyer of historical buildings decides it’s right time to acquire Santa Monica’s Clock Tower.
LEASE: PC giant to move into Venice with plan for product showcase center.
Add one more marquee name to the Silicon Beach roster.
REAL ESTATE: CIM goes beyond banks to pay for skyscraping tower project.
Developer CIM banks on non-profit’s loan to pay for skyscraping condo tower in New York.
El Segundo real estate investment trust Griffin Capital Net Lease REIT Inc. swung to a profit last quarter after adding four income-generating buildings to its portfolio this year.
real estate: Evoq works to shed Meruelo Maddux legacy.
The former Meruelo Maddux continues to shed properties as it moves into a new era downtown as Evoq.
DEVELOPMENT: Plan for shopping center takes root.
Shopping center developer hopes to clean up with project for brownfield site in South L.A.
ACQUISITION: New owner pays $14.4 million for one of area’s tallest properties.
A Westside investor group bought one of the tallest buildings in the low-rise Fairfax district this month.
ACQUISITION: $50 million deal for building one of area’s biggest this year.
In one of the largest downtown L.A. sales of the year, the State Bar of California has bought the building at 845 S. Figueroa St. for $50 million.
VENUE: Miami condo developer reaches deal for famed Hollywood site.
The owner of the Hollywood Palladium has reached a deal to sell the iconic music venue for $55 million, sources told the Business Journal.
Silicon Beach tech wave rolling south
Playa Vista looks like it’s about to take off as the next big thing for L.A.’s tech community now that the Runway retail development is about to break ground.
Real Estate Quarterly: Some residential real estate developers are moving out of apartment projects and into condo buildings featuring smaller, less expensive units.
Condo builders, frozen during the recession, are starting to thaw out all across Los Angeles.
Real Estate Quarterly: Apartments
Condo construction finally appears to be on upswing and the housing market is showing signs of life, but apartments remain popular and some developers are still sticking with them for now.
Real Estate Quarterly: Wilshire Corridor
Last quarter, Miracle Mile scored the highest office property bid in Los Angeles County in the past eight years. But even that impressive endorsement couldn’t keep the greater Wilshire Corridor afloat.
Real Estate: Developer to begin massive rehab of Lincoln Place apartments.
REAL ESTATE: Preservationists saved Lincoln Place from the wrecking ball; now the huge complex is getting a $150 million renovation.
Four-story Beverly Hills office building is sold for $80 million.
An office building in Beverly Hills’ Golden Triangle traded hands for $80 million this month, the highest price for any one Westside office building since 2010.
ACQUISITION: Tishman’s $423 million offer is L.A.’s biggest in eight years.
In what would be Los Angeles County’s largest office sale in eight years, the Wilshire Courtyard complex, home to E! Entertainment, Oprah Winfrey Network and the Business Journal, is close to trading hands.
PricewaterhouseCoopers LLP is moving its L.A. offices into new downtown digs.
LEASE: Private meeting place for business people
The City Club on Bunker Hill is moving west to the financial core of downtown Los Angeles.
Demolition of the Wilshire Grand hotel in downtown is expected to begin in the next few weeks.
RELOCATION: CBRE’s name to crown company’s new Hope Street office.
Downtown L.A.’s skyline will soon have a new name up in lights.
LEASE: Line 6 extends and expands with pair of deals valued at $9 million.
Guitar equipment manufacturer Line 6 Inc. has renewed and expanded its headquarters lease in Calabasas.
DEVELOPMENT: Council narrows field for pier project.
Redondo Beach is getting closer to picking a plan that would redo its expansive shorefront.
OFFICE: Guidance Software signs year’s largest Pasadena lease.
In Pasadena’s largest lease deal this year, digital forensics and cybersecurity firm Guidance Software Inc. is consolidating its operations into a larger headquarters space.
HOSPITALITY: Scaled-back changes to Century Plaza look like an easier sell.
The long-awaited redevelopment of the iconic Hyatt Regency Century Plaza hotel property looks like it may finally move forward.
DOWNTOWN: Offers for Fresh Fare site will be accepted through Sept. 24.
CIM Group Inc. is selling its nearly 60,000-square-foot retail space anchored by downtown’s Ralphs Fresh Fare market.
If Wayne Ratkovich isn’t the godfather of rehabbing L.A.’s old iconic buildings, he’s at least its uncle.
Real estate developer Bob Champion credits ice cream with launching his business career and landing his wife.
Real estate developer Bob Champion isn’t afraid to admit his Bob’s Big Boy statue scared off the receptionist.
Jim Jacobsen has spent most of his career catering to companies with a creative bent, but in the last decade that’s meant more and more Westside companies in tech.
New York transplant Larry Field had no idea how prescient he was when he began buying industrial properties in the 1960s on the beachfronts of Santa Monica and Venice: “It all looked pretty inexpensive by New York standards.”
Jeff Palmer began building properties for creative and tech tenants during the first dot-com boom in the mid-’90s.
Randy Starr has been called the King of Santa Monica’s Third Street Promenade. But it’s not why you think.
Video game company Riot Games Inc. is growing so fast that within months of leasing more than 47,000 square feet of space last year for a new headquarters, co-founders Brandon Beck and Marc Merrill needed to double the size before moving in.
Michael White is among the go-to designers for local tech, media and entertainment firms.
An ocean wave crafted out of wood separates work stations from communal space in Google Inc.’s Venice office.
If Jeff Pion could live his life over again, he would be a Google Inc. executive.
Elite studio behind exotic Acura NSX moving near L.A. Live.
Honda R&D Americas Inc. is moving one of its design studios to downtown Los Angeles, only steps from L.A. Live and the Los Angeles Convention Center.
DEVELOPMENT: Another project eyed near L.A. Live.
Buyer of carwash near LA Live hopes to clean up by building mixed-use hotel on the site.
Limited experience isn’t necessarily a resume highlight, but for Matthew Miller, it made all the difference.
Honda R&D Americas Inc., the elite studio behind exotic Acura NSX, moving downtown near L.A. Live, sources told the Business Journal.
SALE: Samuel Rand unloads eight buildings in separate deals for $25.5 million.
An eight-property multifamily portfolio in the San Fernando Valley has sold to four different buyers for a total $25.5 million.