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Griffin Capital Essential Asset REIT, Inc. has sold DreamWorks Animation's studios and headquarters campus in Glendale, CA for $290 million. Korea's Hana Asset Management teamed up with Los Angeles-based OceanWest Capital Partners on the acquisition of the five-building, 460,000-square-foot campus located at 812 - 1040 Flower St. in the Burbank submarket of Los Angeles County. The Tuscany-inspired campus features studio space, industrial storage...
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Some owners of multifamily properties are putting their buildings on the market, opting to offload the properties instead of paying the high cost of retrofitting them. The trend emerged after a list was released last year by city officials that included approximately 13,500 properties in need of retrofit in Los Angeles. It focuses on older, multi-story buildings with "tuck-under," ground-floor parking. The city ordinance requires retrofitting...
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West Los Angeles developer Champion Real Estate Co. is hoping that its recently announced commitment to voluntarily implement rent control on a planned 20-story apartment tower near the Capitol Records building in Hollywood will have a ripple effect. Like the rest of Los Angeles County, Hollywood is facing a housing affordability crisis. Asking rents have increased more 20% in the last five years while incomes have remained nearly flat, according...
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Brookfield Property Partners LP has made a $14.8 billion offer to acquire the shares of mall owner GGP Inc. that it doesn’t already own, according to people familiar with the matter.
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Oak Tree Road, known as “Little India,” has been transformed from a rundown and desolate area to a booming ethnic business district that attracts South Asian customers from Maine to Maryland.
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Pearl River Mart, once a casualty of skyrocketing retail rents, is planning to open another 3,500 square-foot store at Chelsea Market in Manhattan.
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