Month: April 2022

Heidi Marston (LinkedIn, iStock) The head of the Los Angeles Homeless Services Authority has quit, citing a dispute over her decision to boost the salaries of low-paid staff of a countywide agency that’s come under increasing scrutiny over its structure and performance. Heidi Marston, executive director for the joint powers authority between the city and…

IWG’s Mark Dixon and 925 North La Brea Avenue (IWG, Google Maps) IWG, a global provider of flexible workstations, is opening a Spaces coworking office in West Hollywood. The Switzerland-based firm signed a 31,000-square-foot coworking lease that partially replaces a former 48,000-square-foot WeWork space at 925 North La Brea Ave., the Commercial Observer reported. The…

Michael Lambert with 22102 Pacific Coast Highway (Lambert Media Group, Chris Cortazzo, iStock) Veteran TV executive Michael Lambert is on his way to selling his house on Malibu’s Carbon Beach, also known as Billionaire’s Row, where business titans such as Larry Ellison and David Geffen keep homes. Lambert is a one-time president of domestic TV…

From left: Stephen Wilson, president and CEO, PS Business Parks; Stephen Schwarzman, CEO, Blackstone (Getty Images, PS Business Parks, iStock) Behemoth investor Blackstone agreed to buy Glendale-based PS Business Parks for $7.6 billion in an all-cash deal. Affiliates of Blackstone Real Estate, based in New York, will buy the PSB real estate investment trust, which…

Prologis’ Hamid Moghadam and 6975 Sycamore Canyon Boulevard (Google Maps) Prologis has bought a Riverside warehouse sitting on 30 acres for about three times what it sold for five years ago, The Real Deal has learned. The logistics-focused REIT bought a 303,100-square-foot industrial building at 6975 Sycamore Canyon Boulevard for $83.5 million, or around $275…

Drake with 9904 Kip Drive in Beverly Hills (Hilton & Hyland, Getty) The buyer of singer Robbie Williams’ Beverly Hills estate, identified in reports as Canadian rapper Drake, has taken out a $52.5 million mortgage to finance one of the pricest residential sales in Southern California this year. Drake, through an entity called 11Kip, LLC,…

From left: Rainy Hake Austin and Quetzal Grimm in front of Palo Alto (LinkedIn/Quetzal Grimm, LinkedIn/Rainy Hake Austin, iStock) The Agency is widening its Bay Area footprint with its first Silicon Valley offices, and the Los Angeles-based high-end brokerage has snagged former Compass Sales Manager Quetzal Grimm to head the new branch. “I have had…

CapRock’s Patrick Daniels with rendering and construction site of 1811 Mountain Avenue (CapRock Partners, Nicole Deermount/Carlie Coatsworth Architects) The Inland Empire city of Norco will soon get a 2-million-square-foot logistics warehouse, the largest development in its history. The city known for its equestrian lifestyle has approved the Palomino Business Park, now under construction to replace…

11677 – 11683 Goshen Avenue (Redfin) A Brentwood apartment complex has found a buyer after a little more than five months on the market. Jonathan Taksa (Taksa Investment Group) The 68-unit, two-building property at 11677 – 11683 Goshen Ave., was last listed for $38.5 million, according to real estate websites such as Redfin and Zillow.…

Newport and Emerald Avenues (Jennifer Iyer, Redlands Daily Facts/SCNG) An Inland Empire water district has paid $32.5 million for 1,650 acres of land in north Highland once slated for a 3,600-home housing project that failed to pass an environmental review. The San Bernardino Valley Municipal Water District bought the 1,650-acre property east of I-210 and…