Month: January 2023

Gensler’s Randy Howder and Mills building (The Swig Company, Getty, Oksana Kovneva) As the world’s largest architectural firm, Gensler had plenty of options for the relocation of its San Francisco hub, especially with the high availability in the city’s office market. But climate concerns made options for the new office limited, said Randy Howder, Gensler’s…

Deborah La Franchi and render of 10400 S. San Pedro (Tim Berger c/o SDS Capital, Getty) Los Angeles Mayor Karen Bass has declared a state of emergency on homelessness, and Deborah La Franchi of SDS Capital Group thinks private equity dollars can make a big dent in the crisis by building housing faster and cheaper…

Los Angeles Mayor Karen Bass (Getty) Los Angeles has greatly expanded protections for renters, heading off a potential wave of evictions. The L.A. City Council voted to enact permanent tenant protections 11 days before a policy expires that prevents landlords from evicting tenants who claimed COVID-19-related hardships, the Los Angeles Times reported. The council also…

25530-25765 Springbrook Avenue, Santa Clarita (Google Maps, Getty) Scenic Expressions has inked a lease for a nearly 300,000-square-foot warehouse to store movie and TV props and sets in Santa Clarita. The North Hollywood-based entertainment firm leased the 299,200-square-foot industrial building at Saugus Station Industrial Center at 25530-25765 Springbrook Avenue, the San Fernando Valley Business Journal…

A photo illustration of Cineworld’s CEO Mooky “Moshe” Greidinger (Getty) The silver screens at dozens of Regal Cinemas across the nation will go dark soon. The Tennessee-based movie chain, the second largest in the U.S., will close 39 theaters from Los Angeles to New York to Miami after its parent company in the U.K. declared…

Long Beach Mayor Rex Richardson (Getty, Rex Richardson for Long Beach Mayor) Long Beach landlords can get bonuses for accepting city rental vouchers from low-income residents. The City of Long Beach is now offering financial incentives to local landlords to encourage them to accept vouchers, the Long Beach Press-Telegram reported. The incentives include direct payments…

Los Angeles Councilmembers Bob Blumenfield and Nithya Raman (Getty) Los Angeles is poised to enact permanent tenant protections after a policy expires that prevents landlords from evicting tenants who claimed COVID-19-related hardships. A package of proposals to further protect renters passed out of the Housing & Homelessness Committee and is set for a City Council…

10115 Garden Grove Blvd (Google Maps) Kam Sang bought a 5.5-acre lot in Garden Grove for $18 million, with plans to build a 460-unit apartment complex. The Arcadia-based developer bought the city-owned lot at 10115 Garden Grove Boulevard, the Orange County Business Journal reported. The price comes out to $3.3 million per acre. The purchase…

(Photo-illustration by Kevin Rebong/The Real Deal) When the U.S. subsidiary of Chinese developer Greenland sold one of its trophy assets in Downtown Los Angeles for $504 million in November, the firm paid $554,400 in county transfer taxes. If the deal had gone through five months later, Greenland would have had to pay an extra $27.7…

Jose Huizar (Getty) Former L.A. city councilman José Huizar has agreed to plead guilty in a widespread bribery case that rattled city government and embroiled a number of real estate developers. Huizar admitted to extorting at least $1.5 million in bribes — in the form of cash, hotel stays, gambling chips and favorable loans —…