More than 30 years ago, officials promised that Los Angeles’ first modern subway would cut through the congested and heavily populated Wilshire Corridor connecting downtown to the city’s coastal suburbs. Now, after decades of delay over safety and environmental concerns, court battles and congressional debate, construction is finally beginning on the first phase of what
Downtown Los Angeles, once disdained by Wall Street as a weak collection of office buildings with no pizazz, is drawing newfound fascination from New York firms, many of which are sinking money into the Southland’s resurging commercial district. L.A. County has seen a 23% increase in the dollar volume of investment from the Empire State
Cassidy Turley, a company with Baltimore roots that has grown rapidly across the U.S. since it launched in 2010, is getting a new corporate parent and will soon have a new name. Private equity giant TPG, investment management firm PAG Asia Capital and the Ontario Teachers Pension Plan will buy Washington, D.C.-based Cassidy Turley and
It’s time for commercial real estate to get the tech startup treatment, ready or not. New York startup Hightower is raising cash fast to roll out its software that the company claims can finally improve the workflow of the insulated and arcane world of commercial leasing. Real estate, especially on the commercial side, isn’t exactly the sexiest
The real estate investment trust has acquired Avenue Kearny – an industrial park totaling 138,980 square feet for $11.5 million. This sum breaks down to $83 per square foot. The industrial park is located in Valencia. Rexford Industrial Realty Inc. primarily focuses on value-add properties within infill submarkets in Southern California. Speaking to this, co-CEOs
PennyMac Mortgage Investment Trust, a real estate investment trust based in the city of Moorpark, have entered into an agreement with Bank of America to fund approximately $550 million in new mortgages. A real estate investment trust is a type of company, usually with many investors, that typically owns and operates a portfolio of income-producing
Overton Moore Properties (OMP) has purchased a near eight-acre entitled land site located in the San Fernando Valley from United Technology Corp. The site is located at in the Southeast corner of De Soto Avenue and Nordhoff Street in the San Fernando Valley. The land is zoned for retail and industrial uses. Timur Tecimer, CEO
FM Enterprises of Sherman Oaks has announced the purchase of a 53,000 square foot LA Fitness branch in Van Nuys located at 6161 N. Sepulveda Blvd. This is seen as a long term investment for FM, as LA Fitness is tied to a 20 year lease at this complex’s location. Frank Mushmel, principal at FM
Somewhat surprisingly, Los Angeles has emerged as a city that is ready to embrace walkability going forward. A report titled “Foot Traffic Ahead: Ranking Walkable Urbanism in America’s Largest Metros” by the Center for Real Estate and Urban Analysis at George Washington University School of Business along with LOCUS: Responsible Real Estate Developers and Investors
The Woodland Hills Warner Center Neighborhood Council announced the approval of its first development under the Warner Center 2035 Specific Plan. The developer, Associated Estates of Richmond Heights, Ohio, has proposed a mixed-use development for the site located at 21221 Oxnard St. The site is currently occupied by a vacant 124,000 square foot office building