Month: March 2018

Pacific Concourse at 5220-5245 Pacific Concourse Drive Beacon Capital Partners has acquired a three-building office campus in Del Aire, close to Los Angeles International Airport. The $43 million deal comes about two months after a supply company filed suit against the seller, LBA Realty, for unpaid work on the property. The office complex, at 5220-5245 Pacific…

Sean Hashem of Greenbridge The former Pasadena Star News building hit the market, with a $50 million asking price. Beverly Hills-based Greenbridge Investment Partners is seeking to make a hefty profit on the 84,000-square-foot property at 525 E. Colorado Street in Pasadena, CoStar reported. The firm paid $16.6 million for the site four years ago,…

From the March issue: For years, law enforcement has used “asset forfeiture” to punish criminals and compensate their victims. In the years following Sept. 11, forfeitures skyrocketed as prosecutors sought legal remedies to keep terrorism financing out of the United States. In some of the best-known forfeiture cases, the government liquidated the assets of Ponzi…

A rendering of the Mark 302 at 302 Colorado Street in Santa Monica, with Seritage CEO Benjamin Schall (Credit: Neoscape, Seritage Growth Properties) Seritage Growth Properties is partnering with Invesco Real Estate as it converts the former Sears department store in Downtown Santa Monica into a creative office space. A New York-based real estate investment trust, Seritage…

Carmel Partners CEO Ron Zeff (Credit: Carmel Partners) In September 2016, multifamily developer Carmel Partners dropped $111 million for an 11-acre site near the Expo Line’s La Cienega/Jefferson station in the West Adams neighborhood. Carmel’s master plan for the site, a 1,210-unit mega complex dubbed Cumulus, has come into sharper focus after it just released…

(Credit: PxHere) For years, Angelenos have heard that the “big one” is coming. But are buildings able to withstand 6.7 or greater magnitude earthquake? And if they are, will the cost of retrofitting them get passed directly to tenants? The Los Angeles City Council is exploring ways to help property owners finance seismic retrofits this…

David Beckham and rendering of the proposed soccer stadium in Overtown (Credit: Miami Beckham United) The Hialeah Park Casino, a Pepsi distribution center in Doral, the Melreese golf course and a truck depot near Jackson Memorial Hospital are among the sites David Beckham and his partners are now considering for their $200 million Major League…

Culver Steps at 9300 Culver Boulevard (Credit: Hackman Capital Partners) Hackman Capital Partners confirmed on Wednesday that Amazon will lease its entire mixed-use Culver Steps project in Culver City. The deal is for all 75,000 square feet of office space, the Los Angeles Business Journal reported. The Real Deal first reported in January that the…

Bret Parsons, Mark McLaughin and 156 N. Larchmont Pacific Union International is opening up another office and bringing in 20 brokers. The firm will open an outpost in Hancock Park, a month after it set up shop in Highland Park.  The latest office is at 156 N. Larchmont Boulevard in Larchmont Village, and will be…

It’s not easy going it alone. Only 8 percent of U.S. home sellers in 2017 didn’t use a broker, according to a survey of 7,866 home buyers released by the National Association of Realtors in October. Homes that were listed last year with a real-estate agent had a median sales price of $250,000, while those…