Month: July 2018

Warehouse space (Credit: MaxPixel) Warehouse space is at its tightest level since the first dot-com boom, and it’s driving tons of business. The second quarter saw availability fall to 7.2 percent, the lowest level since 2000, as demand continues to outpace supply, according to CBRE data first reported by the Wall Street Journal. Availability has…

Thomas J. Baltimore of Park Hotels and Resorts (Credit: REIT and Pixabay) Work at a real estate investment trust? Looks like your company probably thinks your labor is worth 57 times less than that of your boss, wherever he or she is today. The CEOs of the top 100 REITs make even higher salaries in…

Paul Allen, the billionaire co-founder of Microsoft (Credit: Pexels) In Beverly Hills, where supply is tight and home prices are soaring, a massive swath of land just hit the market for an equally massive asking price. Paul Allen, the billionaire co-founder of Microsoft, wants $150 million for a 120-acre site, the Wall Street Journal reported.…

Each week, The Real Deal provides a roundup of the top real estate events in Los Angeles you need to know for the week ahead. Send conferences, panel events, networking opportunities and more to events@TheRealDeal.com. To search for future industry events or browse past ones, click here. Powered by WPeMatico

Convene founders Ryan Simonetti, Chris Kelly, and 151 W 42nd Street (Credit: Convene) Meeting space startup Convene raised $152 million in its latest funding round, bringing the value of the company to more than $500 million, according to a new report. New investors in this Series D funding round included RXR Realty, David Rubenstein’s Declaration…

2050 W. 190th Street Sares-Regis appears to have sliced off a part of the 110-acre former Toyota national headquarters it scooped up last year. The Irvine-based developer sold Gramercy Plaza at 2050 W. 190th Street to the Century City firm Preylock Real Estate Holdings for $26.2 million. It’s just across Gramercy Place from the main…

Jessica Robinson and a woman in a yoga pose (Credit: Public Domain Images) Zillow fired an advertising representative after she sent an email to an unhappy Premier Agent user telling him to “take up yoga, and breathe a bit.” Jessica Robinson was terminated on Monday, after sending the email to Tony Traynor of Keller Williams…

Spotify’s Daniel Ek and rendering of At Mateo at 555 Mateo Street (Credit: Wikimedia Commons, At Mateo) Spotify, the music streaming service giant, is officially moving to the Arts District. The firm signed a 10-year lease to occupy 110,000 square feet in At Mateo, the mixed-use complex, a source confirmed to The Real Deal on…

Lisa Korbatov and Donald Trump, with local officials celebrating a 2014 groundbreaking on the Metro Purple Line Extension (Credit: Neon Tommy via Flickr, Wikimedia Commons) In Beverly Hills, an anonymous group that has been petitioning President Trump to stop a planned subway extension beneath their high school may not be so anonymous, after all. It…

Jon Gray, Barry Sternlicht and single-family homes (Credit: Maxpixel) Investors are raising billions of dollars from bond buyers, pension funds and even wealthy individuals for the single-family home rental market. “We’re seeing a wider variety of investors coming into this asset class: sovereign-wealth funds, insurance companies, hedge funds, pensions, asset managers,” Sandeep Bordia, head of…