Month: July 2018

3100 Lomita Boulevard The nine-digit sale of a large Torrance office campus topped the list of the largest office investment deals last month and was the only one to break the $100 million mark. The top-five sales of June totaled $401.3 million and were spread around Los Angeles County, from Chatsworth in the San Fernando…

Vista Investment Group execs Philip and Jonathan Barach and the property Vista Investment Group, a Santa Monica-based firm, acquired a leasehold interest on a fully leased office campus in Santa Monica for an undisclosed amount, the company announced Monday. The seller is Redwood Real Estate Partners, which acquired the ground lease on the property in…

Chipotle exec Brian Niccol and the property (Credit: GoodFreePhotos) Chipotle, the fast-casual Mexican food chain, has signed a deal to occupy two floors at an office building at Newport Center, just steps from Fashion Island, a bustling retail complex in Newport Beach. The firm will be subleasing from CareerBuilder, which occupies nearly 23,000 square feet…

The Opportunity Zones program could spur on major development in historically distressed areas such as Little Haiti (Credit: Wikimedia Commons) A short drive from downtown Miami, colorful murals highlight the Haitian diaspora and pink and yellow island-themed buildings dot Second Avenue in Little Haiti. Among the traditional Creole eateries, some millennial-focused restaurants have emerged, advertising…

Illustration by Lexi Pilgrim for The Real Deal Steve Shull, a retired NFL linebacker, has been coaching real estate agents since 1993. He knows from experience that the brokerage business is cyclical: When the market is hot, paychecks are fat. But over the past few years that simple rule no longer seems to hold true.…

(Credit: Hloom Templates via Flickr) Nationwide retail sales were up in the second quarter year over year, a positive sign for the overall economy, though department store revenue continued the drop. From April to June, retail sales in the U.S. grew by 5.9 percent compared to the same period in 2017, the U.S. Commerce Department…

From left: Eric Garcetti, Donald Trump signing the Tax Cuts and Jobs Act of 2017 in December, Keith Rubenstein. (Credit: Wikimedia Commons, Getty, iStock) From TRD New York: What does a 130-room Marriott hotel have in common with an affordable housing complex? They’re both eligible for federal tax breaks under the new “opportunity zone” program.…

Elizabeth Taylor and the home, Paul Allen, the billionaire co-founder of Microsoft (Credit: Pexels, Pixabay) Paul Allen, the billionaire co-founder of Microsoft, wants $150 million for a 120-acre site in Beverly Hills. That’s seven-and-a-half times the amount the billionaire paid for the land back in the 1990s. Nicknamed “The Enchanted Hill,” the property is comprised…

From left: Joyce Rey, Beth Styne, Rayni Williams, Jeff Hyland, Mark McLaughlin, Aaron Kirman and Marc Shevin For nearly two years it was the biggest mystery roiling the Los Angeles real estate community. With its cheeky language and quirky prose, the seemingly female voice behind Yolanda’s Little Black Book revealed many unseen details about some…

Merrill Roth A former administrative assistant at Newmark Knight Frank says she was fired after complaining to the brokerage’s human resources department that vice chairman Merrill Roth repeatedly made sexually suggestive comments in the office, marking what is at least the second lawsuit filed against the company involving sexual harassment claims in the past year.…