The mid-century commercial architecture style called Googie was named for the 1949 Los Angeles coffee shop bearing the same name. Originated by Frank Lloyd Wright assistant John Lautner, the Googie style is iconic for its ultra-modern, space-age look. The commercial construction craze for cantilevered roofs and eccentric curves took off nationally from coffee shop roots on the L.A. corner of Crescent Heights and Sunset, spreading an aesthetic reflecting two huge phenomena of the 1950s: the automobile and the service industry that grew along with it.
Demonstrating a state of the art in pollution- and water-free, photovoltaic (PV) energy generation is a new fully operational solar plant 30 miles north of Las Vegas. The Moapa Southern Paiute Solar Project will generate enough voltage to power well over 100K homes, but Las Vegas isn’t the target of all that juice — every watt will be sent 270 miles away to serve Los Angeles.
A significant initiative with commercial real estate effects was passed on last week’s ballot in Los Angeles. Expected to take effect this month, the measure changes, almost overnight, the labor and affordable housing requirements for developers building in the city, affecting multifamily projects with ten or more units, as well as other projects.
Brokers, property managers and landlords of Los Angeles: be aware that an updated list from the Los Angeles Department of Building and Safety (DBS) has arrived. The list identifies thousands of buildings that may potentially require earthquake retrofitting, including those sporting “tuck-under parking” designs and other popular constructions that are especially susceptible to collapse in earthquake conditions. The list contains over 23,000 addresses.
I think it’s fair to characterize the following transaction as a symbol of our current national office market boom. Gone, gone, gone are the days when lenders’ hands were tied and 30-40% minimum cash on the barrelhead was a necessity to get a deal done for an office building in a primary market. Today, leverage is back in a big way — at least in one such deal in Los Angeles reported by Globe St’s Kelsi Maree Borland.
Commercial real estate comes to reality TV, a rush to get across town in Los Angeles, and brick-and-mortar’s resilience – it’s all here in the Commercial Real Estate News Roundup For July 30, 2014.
During a recent trip to LA, while driving I spotted something I don’t usually see: a building in an urban setting that I absolutely couldn’t identify. It was slender, tall, tapered and seemed to be covered in what amounted to a gigantic tea cozy. It looked like this: