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Month: July 2020

City moves to kill $700M megaproject linked to Huizar scandal

Jose Huizar in front of the perhaps doomed project. Los Angeles officials have moved to kill a $700 million downtown hotel and condo project because the developer is linked to federal racketeering charges against City Council member ...

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  • 09 Jul
  • The Real Deal
  • Uncategorized
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Knotel’s Q2 revenue plunged 20%

Knotel CEO Amol Sarva (Sasha Maslov, iStock) UPDATED: July 9, 7:10 p.m.: Flex-office startup Knotel said its revenue plunged 20 percent during the second quarter, offering a glimpse of the economic toll the pandemic is having on the ...

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  • 09 Jul
  • The Real Deal
  • Uncategorized
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‘WeWorking while Black’: Ex-employees allege racial discrimination

Two ex-WeWork employees have sued the company over allegations of race and gender discrimination (Getty) WeWork’s former head of diversity and inclusion has accused the co-working company of underpaying minority employees and keeping ...

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  • 09 Jul
  • The Real Deal
  • Uncategorized
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Privacy is the newest amenity

Clockwise from top left: Related Midwest’s One Bennett Park, LaSalle Investment’s JeffJack Apartments, and Optima Inc. and DeBartolo Development’s Optima Signature UPDATED, July 9, 5:01 p.m.: In a Covid world, privacy has become the ...

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  • 09 Jul
  • The Real Deal
  • Uncategorized
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The Inland Empire’s booming logistics industry is a double-edge sword

Aerial of inland empire industrial areas (Credit: CBRE via OBSERVER MEDIA) The years-long expansion of the Inland Empire’s logistics and distribution industry has been a double-edged sword for communities in the region, particularly ...

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  • 09 Jul
  • The Real Deal
  • Uncategorized
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Office leasing in Q2 was a fraction of what it was a year ago

DTLA and Century City (Credit: Basil D Soufi via Wikipedia, and iStock) Office leasing was dismally low in Los Angeles County in the second quarter as the coronavirus pandemic kept people at home and businesses recalculated their needs ...

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  • 09 Jul
  • The Real Deal
  • Uncategorized
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Signature Bank makes big push into Southern California

Judi Prejean, and Signature Bank CEO Joseph DePaolo (Credit: Owen Hoffmann/Patrick McMullan via Getty Images) Commercial lender Signature Bank is making a big push into Southern California and beefing up its two-year-old operation in ...

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  • 09 Jul
  • The Real Deal
  • Uncategorized
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“Somebody is being defrauded”: Hearst estate owner illegally pocketed SBA loan: Filing

The Hearst mansion got an emergency federal loan (Credit: Jade Mills Estates) The latest “shenanigan” by the owner of the famed Hearst estate in Beverly Hills was to pocket a $150,000 emergency disaster loan from the Small Business ...

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  • 08 Jul
  • The Real Deal
  • Uncategorized
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AMC nears deal to avoid bankruptcy

The financing deal comes after AMC theaters have been shuttered for months due to the coronavirus pandemic. (iStock) AMC is trying to stave off the final curtain. The movie theater chain is close to hammering out a restructuring deal ...

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  • 08 Jul
  • The Real Deal
  • Uncategorized
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What happens if Trump banishes TikTok, savior of NYC’s office market?

4 Times Square (Google Maps, TikTok) When TikTok inked a massive lease in Times Square in May, the deal was viewed as a beacon of hope for a bleak office market. But this week, Secretary of State Mike Pompeo told Fox News that the U.S. ...

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  • 08 Jul
  • The Real Deal
  • Uncategorized
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