Lantana Office Campus to Change Hands for $350M
Skydance Media is close to purchasing two buildings in the Lantana Media Campus in Santa Monica. If the deal goes through, the entertainment company will pay $350 million for the space, roughly $1,250 per square foot. Located at 2900 and 3000 Olympic Boulevard, the two properties dubbed Lantana West and Lantana Center total 278,680 square…
GM’s Driverless Car Unit to Take 47K SF in Pasadena
GM Cruise has inked a seven-year lease for 47,051 square feet at 465 N. Halstead Street, a recently upgraded two-story office building in Pasadena. General Motors’ driverless car unit will pay $11.4 million for the space. CBRE represented the landlord, EverWest Real Estate Investors, in the deal. In 2016, EverWest purchased the 239,000-square-foot property known…
WeWork to Take Over 100K SF in LA’s Arts District
WeWork will take over the entire 100,000 square feet of Los Angeles office space at Maxwell, a three-building redevelopment project located at East 4th Pl. and Mateo. The deal marks the coworking firm’s twentieth location in LA, as well as its first move into the Arts District. WeWork has also recently signed a deal for…
Industrious Inks Deal for Second DTLA Location
Industrious will take over 22,275 square feet of Los Angeles office space at 444 South Flower Street, known as the Citigroup Center. The coworking firm entered a partnership with the owner, Coretrust Capital Partners. Following this deal, Industrious will have two locations in DTLA and six in LA county. Conveniently located in the heart of…
GreenOak and Rising Realty Secure $111M Refi for The CalEdison
GreenOak Real Estate Advisors and Rising Realty Partners obtained a $111 million floating rate loan for the historic CalEdison office building in Los Angeles. Invesco Real Estate provided the financing, while JLL arranged the deal. Opened in 1931, the 14-story building at 601 West 5th Street was originally the headquarters of the Southern California Edison…
The Rise and Fall of the American Downtown – A Look into the Home Price Evolution of the Nation’s Urban Cores in the Decade Since the Downturn
From a city’s economic engine to the center of political and administrative power. From cultural heart and nightlife hotspot to dilapidated buildings and high crime rates. From opulent penthouse suites to derelict homes. The downtowns of American cities, both big and small, have always been dynamic places that shifted with the times. From the early…
Online Medical Apparel Startup Signs Lease for 26K SF at Santa Monica Gateway
Online medical apparel startup FIGS inked a lease for 26,118 square feet of Los Angeles office space at Santa Monica Gateway, according to CBRE. The location will serve as the company’s new headquarters. Dubbed Santa Monica Gateway, the property at 2834 Colorado Avenue is a newly developed, 200,000-square-foot office complex consisting of two four-story buildings….
Eight-Figure Medians and Record-Breaking Deals – These Are 2018’s Most Expensive Neighborhoods in the L.A. Area
Los Angeles and Malibu may dominate by sheer volume of expensive locations, but Beverly Hills claims 3 of the 5 priciest L.A. area neighborhoods.
Which Are the Most Expensive Neighborhoods of San Francisco in 2018?
Key takeaways: At #1, Presidio Heights prices grew 24.5% Y-o-Y to $4.5 million Sea Cliff landed at #2 with a median home sale price of $3.88 million Lone Mountain saw the biggest surge in prices: 57.4% increase Y-o-Y With a $1.2 million median, the Financial District didn’t make the top 50 shortlist Clarendon Heights (-14%)…
LA’s Luxury Residences Remain Above $2,000 Per Square-Foot for November
LA’s high-end residential market maintains traction despite rising interest rates. Top locations for single-family homes continue to be Beverly Hills and Malibu, with top prices in the low eight-figure range. The most expensive sale was in Bel Air. The 7,500 square-foot compound sold for almost $20 million, more than $2,600 per square-foot. LA’s luxury condo…
November Posts the Largest LA Commercial Deals of the Fall Season
Despite rising interest rates, both office and retail sales have seen some of the biggest deals of the season in November. Heitman acquired the five-building Campus at Playa Vista for over $320 million, easily the largest office deal of the fall at almost $1,000 per square-foot. Playa Vista has seen quite a lot of office…
Industrious Nabs First Glendale Location at 500@TheBrand
Industrious has signed a deal with Granite Properties for 24,000 square feet of Los Angeles office space at 500 North Brand Boulevard in Glendale. The firm plans to open a coworking spot here in June next year, taking over the entire 20th floor, as well as half of the 21st floor in the 23-story building….
Netflix Continues Hollywood Expansion at KRC’s Academy on Vine
Netflix continues its expansion in Hollywood, signing a lease with Kilroy Realty Corp. for the entire 355,000 square feet of Los Angeles office space at Academy on Vine. The world’s leading content-streaming company is set to occupy all three office buildings currently being built on the property. The Academy on Vine is a mixed-use project,…
Top Most Expensive U.S. Zip Codes in 2018
Editor’s Note: PropertyShark is saddened by the loss of life and property caused by the California wildfires. The article below is simply a presentation of hard data and in no way attempts to ignore the devastation that these areas are experiencing. Key takeaways: Atherton’s 94027 remains the #1 most expensive zip code thanks to a…
Lockton Inks Lease for New Pacific HQ at DTLA’s 777 Tower
Insurance brokerage firm Lockton has recently signed a lease for 70,000 square feet of Los Angeles office space at 777 South Figueroa Street. The company plans to relocate from its current offices at the Ernst & Young Plaza in February next year. The 52-story building known as the 777 Tower boasts a LEED Gold certification…
WeWork Snatches Another 93.5K SF at Pacific Design Center
WeWork is expanding its footprint at Pacific Design Center, taking an additional 93,500 square feet of Los Angeles office space there. The company, which recently became Manhattan’s largest office tenant, more than doubled its space at the 14-acre campus in West Hollywood. Signing a 15-year lease, the coworking firm is set to occupy 39,000 square…
Among Most Expensive Neighborhoods in L.A. Area, Beverly Hills Flats in First Place
Key Takeaways: Beverly Hills Flats becomes the #1 most expensive neighborhood in L.A. area Trousdale takes #2 spot with a median price of $6.3M Hill Section registers 88.5% y-o-y median price growth 8 neighborhoods posted medians above $3M While noticeably cooler than the first half of 2018 and Q3 2017, the top of the L.A….
A24 Signs Lease for 25K SF at Pacific Design Center’s Red Building
A24 will relocate its offices to the Red Building of the Pacific Design Center. The independent entertainment company behind “Moonlight” is set to occupy 25,000 square feet of Los Angeles office space there. Located at 750 North San Vicente Boulevard, the 400,000-square-foot Red Building is the newest of the three office buildings that make up…
How Much Money Can You Save by Downsizing in California?
There comes a time when you realize that your spacious dream home takes up too much space and its upkeep is becoming both unsustainable and unnecessary. Downsizing can be an appealing option when certain rooms have transitioned into little more than costly storage spaces that need heating, cooling and cleaning. As you start getting near…
StarPoint Nabs Beverly Hills Wells Fargo Building for $193M
Real estate company StarPoint Properties has purchased the 12-story Beverly Hills office tower at 433 North Camden Drive for $193 million, around $930 per square foot. The property, also known as the Wells Fargo Building, will undergo renovations to include new retail and dining spaces. Built in 1972, the 207,432-square-foot building is located only three…
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