CBRE Global Investors Relocates to Figueroa at Wilshire
CBRE Global Investors has recently signed a lease for 32,000 square feet of Los Angeles office space at 601 South Figueroa Street. The independently operated affiliate of the CBRE Group will relocate its headquarters from City National Plaza at 515 South Flower Street to Figueroa at Wilshire by January 2019. Moving one block away from…
Spotify to Move Regional HQ to LA’s Arts District
Music streaming giant Spotify has recently signed a lease for 110,000 square feet of Los Angeles office space at the At Mateo office complex in the Arts District. The Swedish-based company will relocate approximately 120 employees from 9200 Sunset Boulevard in West Hollywood, where it occupied only 8,200 square feet, to its new regional headquarters…
Malibu Home to the Most Expensive Neighborhoods in L.A. Area
Key Takeaways: Malibu Colony Beach remains the most expensive neighborhood in L.A. Region Beverly Hills Gateway takes second spot with $9.6 million median sale price 5 neighborhoods in the L.A. area posted medians above the $5 million mark Carbon Beach is the location of #1 most expensive home ever sold in L.A. Region Featuring two…
The Most Expensive Homes Ever Sold in California
Regularly ranking among the 10 largest GDPs globally, and boasting easy connectivity and endless lifestyle options, California is an attractive real estate market for global investors, especially on the upper end of the spectrum. The flow of foreign money into L.A.’s luxury real estate market became more pronounced after the 2008 housing crash, especially from…
NFK Closes on $29.9M Empire Towers V Sale in Ontario, CA
Real estate firm MGR Realty nabbed Empire Towers V, a 124,529-square-foot Class A Ontario office space for a total of roughly $30 million. The real estate advisor NKF Capital Markets represented the seller, TA associates, a private equity firm, which had completed the building project at 3990 Concours Street in 2007. The 5-story steel-frame construction…
EQ Office Partners with Industrious for New LA Employee-Oriented Workspace
EQ Office, formerly known as Equity Office, has undergone a major rebranding effort and is now partnering with Industrious to create an employee-oriented workspace at the Howard Hughes Center in Los Angeles. The collaboration is the first of its kind, a unique partnership between a real estate owner and a flex operator. The six-building, 1.4…
HFF Secures $150M Loan for State-of-the-Art Silicon Valley Office Project
HFF announced that it has secured $150 million in financing for 1625 Plymouth, a built-to-suit Mountain View office development. The firm acted on behalf of Broadreach Capital Partners to arrange a fixed-rate permanent loan with the New York State Teachers Retirement System. The loan closing coincided with the completion of the building’s warm shell and…
NKF Arranges Largest Orange County Office Deal of the Year
NKF Capital Markets has arranged the sale of The Summit Office Campus, a five-building office complex in Aliso Viejo, Calif., to Rockpoint Group. According to Connect Media California, the 479,451-square-foot complex changed hands for more than $150 million, making it the largest office investment sale in Orange County so far this year. Located at 65,…
Kilroy Realty Nabs $308M Oyster Point Life Science Development Site
Last week, Kilroy Realty Corp. announced that it has completed the acquisition of a life science development site in South San Francisco. Fully entitled for 2.5 million square feet, the 40-acre site was purchased for $308 million and named “Kilroy Oyster Point.” It will eventually host an 11-building laboratory and office complex, adjacent to the…
How Much Did Home Prices Increase in LA County since the Downturn?
Was buying a home 10 years ago in the City of Angels a good investment? We recently asked the same question about New York City and did a study on that, but this time around, we decided to shift our attention to the West Coast, specifically to L.A. County. Although very different markets, NYC and…
What Do Luxury Apartments Rent for in the Top 30 Largest U.S. Cities?
The past few years have seen a spectacular increase in the number of luxury apartment buildings cropping up in major cities across the country. Apart from developers investing in high-end property for the sake of better returns, growth in the luxury apartment rental sector is also prompted by demand from newly emerging renter groups. From…
NKF Secures $26M Loan for Brick and Timber’s Acquisition of a San Francisco Office
NKF Capital Markets has arranged the placement of a $26.2 million loan with PCCP for a San Francisco office building located at 55 Green Street, as part of a plan to acquire and reposition the asset. Brick and Timber Collective―a local real estate development and management company―bought the property for $29 million, or $566 per…
HFF Secures $144M Financing for Hines’ Irvine Office Campus
A joint venture including Houston-based real estate investment firm Hines has obtained a $144 million loan for Intersect, a four-building campus in Irvine, Calif. The lender, New York Life Insurance Co., has agreed to a three-year, floating-rate loan with extension options. Proceeds will be directed towards refinancing existing debt and filling the remaining vacancies at…
SoMa Office Tower Gets $145M Upgrade
633 Folsom, an aging San Francisco office building located in the city’s SoMa submarket, is going to get an extensive makeover. Property owner and manager The Swig Co. plans to turn the 1967-built Class B asset into a modern, Class A office tower. Aided by HFF and a domestic bank, the company recently secured $145…
South Korean Gaming Giant Makes the Move to Downtown LA
Netmarble, a South Korean game publishing company, has decided to move its California offices from Orange County to Downtown Los Angeles. The mobile gaming giant recently signed a five-year lease at 600 Wilshire Blvd. in the city’s Financial District. The new 14,000-square-foot Los Angeles office space on the 11th floor of the 17-story skyscraper will…
WeWork Takes Over Entire Office Tower in Largest 2018 San Francisco Lease
WeWork is aggressively expanding its footprint in San Francisco, a city that could easily be dubbed a freelancing Mecca. The shared workspace provider is going to take over the Union Bank Building, after signing the largest lease closed so far this year—according to the San Francisco Business Times. The coworking giant has rented 251,000 square…
Top Most Expensive US Zip Codes in 2017
Ranking the priciest zip codes in the US based on closed home sales It’s December which means it’s time for our annual report on the 100 most expensive zip codes in the United States. We consider our report to be the most accurate benchmark of the country’s most exclusive areas as we are the only…
East Coast vs West Coast: Which Sells More Million-Dollar Homes?
Besides the East Coast vs West Coast hip-hop rivalry of the 90s, the two coasts have long been subject to comparisons and cultural differences. When it comes to housing, they do have unaffordability and sky-high prices in common, as most of the nation’s priciest markets are located along the coasts. In many places around the…
Home Prices in LA County Are 69% Higher Than 5 Years Ago
Key Takeaways: Home prices have increased for 5 consecutive years at an average annual rate of 11% Real estate in the county is now 66% more expensive than 5 years ago Price per square foot reached $389 — 69% higher than 5 years ago Manhattan Beach has the most expensive median price per square foot…
Vancouver Real Estate More Unaffordable Than Manhattan, Study Finds
According to an analysis recently released by our sister website Point2 Homes, Vancouver is the most unaffordable market in North America, even more so than Manhattan. The study measured affordability in the 50 most populous cities in Canada, the United States and Mexico by dividing the median home sale price by the yearly median household…
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