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Month: June 2018

High rents justify high-cost industrial development

A Sealey Power Products warehouse (Credit: Mark Hunter via Flickr) New construction costs for modern industrial properties are sky high in Los Angeles, but high rents are keeping developers building. New data from CBRE show that pro ...

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  • 12 Jun
  • The Real Deal
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The crypto deals real estate is watching

Illustration by Nicholas Little Matthew Hansen’s dream house used to be a monastery. The hedge funder bought a Hell’s Kitchen townhouse from the Archdiocese of New York for $3 million in 2011. He gut-renovated the six-story property, ...

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  • 11 Jun
  • The Real Deal
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Blue Arch to brand South Park hotel as HyattCentric

1138 S. Broadway, where Blue Arch plans a 139-key hotel Blue Arch Investments has struck a deal with Hyatt to brand its planned 15-story South Park hotel. The Miracle Mile-based firm wants to label its hotel at 1138 S. Broadway a ...

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  • 11 Jun
  • The Real Deal
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Claridge Properties and partners submit plans for Angels Landing site

Angels Landing (Credit: Handel Architects) The trio behind the highly coveted Angels Landing redevelopment site, which includes LA developer Claridge Properties, has inched forward with the 1.26 million-square-foot project in Downtown ...

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  • 11 Jun
  • The Real Deal
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Kanye West to be “one of the biggest real estate developers of all time”

From left: Kanye West, rendering of new housing scheme designed for low-income residents. (Credit from left: TRD, Instagram via Jalil Peraza) Forget about albums, Kanye West now drops renderings. The rapper turned designer, ...

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  • 11 Jun
  • The Real Deal
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Cindy Crawford and Rande Gerber sell beachfront home for $45M

Property on Pacific Coast Highway, with Rande Gerber and Cindy Crawford (MLS/Getty) Celebrity couple Cindy Crawford and Rande Gerber have parted ways with their 5,300-square-foot home in Malibu. In the latest in a series of big trades ...

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  • 11 Jun
  • The Real Deal
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Torrance office campus sells for $124M

3100 Lomita Boulevard A large Torrance office campus has traded hands for $124 million. Minneapolis-based FRM Associates purchased the 27-acre campus at 3100-3110 Lomita Boulevard and 3121 Skypark Drive from a joint venture of PM ...

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  • 11 Jun
  • The Real Deal
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First tenants along defunct freeway route finally buy homes from Caltrans

(Credit: U.S. Air Force illustration/Staff Sgt. Alexandre Montes) After a two-year process, six former Caltrans tenants are finally buying their homes. Some have been renting properties along the defunct 710 Freeway for decades and now ...

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  • 09 Jun
  • The Real Deal
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This week in celebrity real estate: Spelling Manor gets price chop, Ron Burkle buys home in Toluca Lake… and more

Petra Ecclestone Stunt and the Spelling mansion, Ron Burkle and the home (Credit: Wikipedia Commons, Getty, EGP Imaging) The Manor in Holmby Hills returned to the listing services this week, looking $25 million slimmer. Petra ...

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  • 09 Jun
  • The Real Deal
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Real estate engineering firm Arup relocates to Wilshire Grand in $57M lease deal

Wilshire Grand, Arup Exec Jim Quiter (Credit: Wikimedia Commons) Arup, a real estate engineering firm, is trading the beach access of Playa Vista for the high-rise views at the Wilshire Grand Center. The firm said Thursday it had ...

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  • 08 Jun
  • The Real Deal
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