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Month: July 2022

Norwalk to turn blighted youth jail into retail housing village

Norwalk Mayor Rick Ramirez with rendering of Norwalk Transit Village (City of Norwalk, Norwalk Transit Village) A former state youth jail in Norwalk could be redeveloped into a 32-acre retail housing and hotel complex. The city has ...

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  • 13 Jul
  • The Real Deal
  • Uncategorized
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Development duo proposes 244K sf office complex in Culver City

From left: Hackman Capital Partners’ CEO Michael Hackman; IDS Real Estate Group’s co-CEOs David Mgrublian and Murad Siam; a rendering of 863-8635 Hayden Place in Culver City (IDS Real Estate Group, Hackman Capital Partners, Gensler, ...

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  • 13 Jul
  • The Real Deal
  • Uncategorized
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Investors flip beer warehouse to double their money in six months

From left: Thor Equities’ Joseph Sitt, Staley Point Capital Kevin Staley and Bain Capital’s Andrew Terris with 12065 Pike Street (Thor, Staley Point, Bain Capital, Google Maps) In six months, Staley Point Capital and Bain Capital have ...

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  • 13 Jul
  • The Real Deal
  • Uncategorized
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Tishman seeks damages over ditched deal at DTLA’S Cecil Hotel

Jonathan Simon and Matthew Baron with the Cecil Hotel (Google Maps, iStock) The notorious Cecil Hotel––backdrop of both fictional and real-life horror stories–– is now the subject of a lawsuit over a real estate deal gone sour. Tishman ...

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  • 13 Jul
  • The Real Deal
  • Uncategorized
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Redevelopment reduces parking options in Downtown San Pedro

505 Centre Street, San Pedro (Brittany Murray, Press-Telegram/SCNG, iStock, Illustration by Kevin Cifuentes for The Real Deal) The new buzz around Downtown San Pedro is the sound of cars circling while drivers hunt for a rare place to ...

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  • 13 Jul
  • The Real Deal
  • Uncategorized
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Developer of Long Beach’s tallest building hit with $3M lawsuit

Ledcor CEO Dave Lede and Build Group CEO Nathan Rundel with 777 East Ocean Boulevard, Long Beach (Shoreline Gateway Living, Build GC, Ledcor) A construction company has sued the developers of Shoreline Gateway — Long Beach’s tallest ...

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  • 13 Jul
  • The Real Deal
  • Uncategorized
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Shopoff Realty buys former Sears space at Westminster Mall for $46M

Shopoff Realty’s Bill Shopoff and 1025 Westminster Mall (Google Maps, LinkedIn) A local investment company has paid $46.3 million for part of a 47-year-old enclosed mall in Westminster once occupied by Sears. Shopoff Realty ...

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  • 13 Jul
  • The Real Deal
  • Uncategorized
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Safehold buys ground lease for Long Beach government building

Safehold’s Jay Sugarman and the Glenn M. Anderson Federal Building (Safehold Inc, Google Maps) New York-based startup Safehold has closed a $60.6 million deal to acquire the ground lease underneath a Long Beach government building that ...

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  • 12 Jul
  • The Real Deal
  • Uncategorized
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SoCal cities get reprieve from looming housing deadline

(iStock) Nearly 200 cities and counties across Southern California that failed to meet a state deadline to rezone land for housing have been granted a three-year extension. Gov. Gavin Newsom has signed legislation to extend the ...

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  • 12 Jul
  • The Real Deal
  • Uncategorized
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NHL owner puts unfinished Bel Air property on market for nearly $39M

Daryl Katz with 1100 Bel Air Road (Katz Group, Redfin) Daryl Katz made one of the biggest real estate deals in Los Angeles history when he paid $85 million for a Malibu house in 2017. He also threw in an additional $21 million for the ...

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  • 12 Jul
  • The Real Deal
  • Uncategorized
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