Los Angeles
JV to Transform LA Mall into Office Property
Hudson Pacific Properties and Macerich will redevelop 500,000 square feet of Westside Pavilion into creative office space, reserving 100,000 square feet for its existing entertainment retail space.
Development’s Return in Los Angeles
Office development reached a cycle high of 2.3 million square feet in 2017, marking a 53.7 percent year-over-year increase. Construction has picked up in less popular areas such as Jefferson Corridor and downtown Long Beach, while North Hollywood emerged as the most active suburban submarket.
Abbey Nails Down $229M Bridge Funding on Retail Portfolio
Represented by law firm Sklar Kirsh, the company recapitalized a 27-property portfolio in California. The assets total 2.1 million square feet of space scattered across Los Angeles, Orange, Riverside, San Bernardino, Fresno and Kern counties.
LA Office Building Commands $196M
NKF Capital Markets represented Lincoln Property Co. in the sale of Wedbush Center, a 21-story tower at 1000 Wilshire in the city’s downtown.
Rexford Picks Up, Sheds CA Assets
The firm acquired an Inland Empire asset encompassing more than 200,000 square feet of industrial space, partially funding this by the sale of a creative office property.
Hudson Pacific Inks 102 KSF Hollywood Lease Renewal
Trailer Park, a full-service agency specializing in content creation and entertainment marketing, has signed a 10-year lease renewal at 6922 Hollywood Blvd., and plans to renovate the space to accommodate for company growth.
Level 3 Construction Completes LA Hotel Renovation
Holiday Inn Express West Los Angeles has undergone a $4 million renovation and was remodeled to fit the new Formula Blue design.
Oil Manufacturer Inks 55 KSF CA Lease
The firm, Sunset Olive Oil, will create 20 jobs through at its facility in Montebello, Calif. DAUM Commercial has arranged the leasing transaction on behalf of the landlord, Emery Investments.
$150M LA Mixed-Use Project Breaks Ground
Situated in the heart of Santa Monica, The Lincoln Collection is a four-story mixed-use project featuring 25,000 square feet of street-level retail amenities.
CBRE Global Investors Taps New Senior Managing Director
Scott Spalding will be responsible for business development with financial intermediaries and investment advisors who assist high net worth investors.