Los Angeles Business Journal

Related to Break Ground on Grand Avenue

New York developer Related Cos. said that it will break ground on the first building of its long-delayed Grand Avenue project in downtown Los Angeles on Jan. 10.

Apartment Project Moves Into Downtown L.A.

DEVELOPMENT: Da Vinci backers see growing market for residential space.

Filling downtown L.A.’s demand for more apartment space, a Bunker Hill complex is about to break ground.

Heads Up On Foodie Style

Salon hits grocery aisle to find ingredients for hair treatments.

Broot salon’s grocery bill is climbing along with the popularity of its food-based hair treatment.

Luxury Retailer Bags Storefront

REAL ESTATE: Rodeo Drive deal a square-footage record.

Billionaire retailer busts square-footage record with $85 million deal for Beverly Hills storefront.

Rodeo Storefront Sold for Record Amount

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.

Engineering Firm Builds Up Presence in Pasadena

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.

US Bank Tower at Risk of Loan Default

Downtown’s landmark U.S. Bank Tower, which is owned by struggling MPG Office Trust Inc., could be heading for loan default.

MetLife Becomes Joint Owner of Loews Hollywood Hotel

New York insurance giant MetLife Inc. has become a joint owner of the Loews Hollywood Hotel next to the Hollywood & Highland Center.

New ‘Wheel’? Just Roll With It

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.

Hazard Pay

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

High-Profile Tenants Anchor Valley Retail Deal

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.

Hotel Owner to Make Rooms for Improvement

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.

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Side Business

Hollywood eateries stake claim in cleaned-up alleys

Hollywood restaurants back into more room by dressing up alleyways for additional space.

Underperforming Property Works for Billionaire

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.

High Time To Acquire

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.

Microsoft Gets With the Silicon Beach Program

LEASE: PC giant to move into Venice with plan for product showcase center.

Add one more marquee name to the Silicon Beach roster.

Developer Taps Non-Profit to Fill Tall Loan Order

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.

Griffin Swings to a Profit

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.

Former Heavyweight Lightens Portfolio

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.

Brownfield Site Put in the Clear

DEVELOPMENT: Plan for shopping center takes root.

Shopping center developer hopes to clean up with project for brownfield site in South L.A.

Building Buyer Scales Heights With Fairfax Deal

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.

Downtown L.A. Makes Its Case With State Bar

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.

Will the Music Stop After Sale of Palladium?

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.

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Playa Time

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.

Condo Comeback?

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.

Apartment Builders Still Have Room for Renters

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.

Building Bid Boosts Miracle Mile But Park Mile Gives Back Space

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.

Renovation Follows Preservation Battle in Venice

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.

Blockbuster Deal Takes Shape in Golden Triangle

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.

Sky-High Bid Reflects Building Interest in Offices

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 Moves Offices Downtown

PricewaterhouseCoopers LLP is moving its L.A. offices into new downtown digs.

City Club to Break With Bunker Hill Mentality

LEASE: Private meeting place for business people

The City Club on Bunker Hill is moving west to the financial core of downtown Los Angeles.

Wilshire Grand Demolition to Start Soon

Demolition of the Wilshire Grand hotel in downtown is expected to begin in the next few weeks.

Firm Sees Downtown L.A. Move as Good Sign

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.

Guitar Equipment Maker Plugs Into More Space

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.

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Three Shore Up Redondo Plans

DEVELOPMENT: Council narrows field for pier project.

Redondo Beach is getting closer to picking a plan that would redo its expansive shorefront.

Cybersecurity Firm Locks Up New Headquarters

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.

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Making It Big

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.

CIM Puts Landmark Retail Location on Market

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.

Sprucing Up, Goosing Up L.A. Landmarks

If Wayne Ratkovich isn’t the godfather of rehabbing L.A.’s old iconic buildings, he’s at least its uncle.

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Cool Customer

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.

BROKER Jim Jacobsen

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.

DEVELOPER Lawrence N. Field

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.”

DEVELOPER Jeffrey E. Palmer

Jeff Palmer began building properties for creative and tech tenants during the first dot-com boom in the mid-’90s.

Displaying Third Street Smarts

Randy Starr has been called the King of Santa Monica’s Third Street Promenade. But it’s not why you think.

Scoring More Space

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.

ARCHITECT Michael White

Michael White is among the go-to designers for local tech, media and entertainment firms.

Turning on Tech Clients By Design

An ocean wave crafted out of wood separates work stations from communal space in Google Inc.’s Venice office.

BROKER Jeff Pion

If Jeff Pion could live his life over again, he would be a Google Inc. executive.

Honda Car Designers Draw Up Downtown Plan

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.