Los Angeles Business Journal

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.

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Hotel Room At a Premium

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.

BROKER Matthew Miller

Limited experience isn’t necessarily a resume highlight, but for Matthew Miller, it made all the difference.

Honda Car Designer Heading Downtown

Honda R&D Americas Inc., the elite studio behind exotic Acura NSX, moving downtown near L.A. Live, sources told the Business Journal.

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Sun Sets on San Fernando Valley Investor Group

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.

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Investor Group Likes Fit Of Former Brown Derby

CMC Asset buys L.A. city historic monument property for $9.25 million.

The historic Brown Derby building in Los Feliz traded hands for $9.25 million last week.

Beverly Hills Too Taxing for Architecture Firm

L.A. city’s levy holiday draws HKS to Westwood office.

Beverly Hills has lost another tenant to the city of L.A.’s three-year tax holiday.

Time Now on Side of Downtown Property Owner

Possible portfolio sale of MPG properties boosts shares.

Prospect of selling off downtown L.A. portfolio next year pumps up MPG stock.

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CRA Properties Back in Limbo

State holds up deals by successor agencies.

New state law puts a hold on successor agencies’ sales of former CRA properties.

El Segundo Sees Creative Ways to Lure Business

Move over, Silicon Beach: El Segundo wants in on the tech boom action.

MPG May Consider Selling Itself

Financially strapped MPG Office Trust Inc. may look to sell its entire 8.2 million-square-foot office portfolio as soon as next year.

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West Hollywood Deal in Rare Neighborhood

ACQUISITION: Partners pick up office property for estimated $40 million.

An 85,000-square-foot West Hollywood office building traded hands last week for an estimated $40 million.

Testing Service Business Looks to Make Its Marks

EDUCATION: Kite’s online marketplace to provide questions to teachers.

EDUCATION: Kite co-founders hope their website moves to the head of the class in the testing services industry

Historic Hancock Park Apartments on the Market

Hancock Park’s iconic El Royale Apartments, once home to Hollywood elites such as Clark Gable, is for sale for the first time in 50 years.

NBCUniversal Abandons Residential Development at Studio

NBCUniversal is abandoning controversial plans to build thousands of residences on its Universal City backlot.

Park Mile Miraculously Outperforms More Bustling Neighbors

The Wilshire Corridor mustered a slight improvement last quarter with some unusual help from the Park Mile.