Month: August 2024

A home in Beverly Hills is on the market for $20 million, an asking price that includes an art gallery and a year of complimentary concierge art service. The unidentified owner has listed the 7,900-square-foot home and gallery at 1136 Calle Vista Drive, CoStar News reported. The one-story Mediterranean-style home, dubbed the Gallery Estate, has…

More than six months after foreclosing an office building in El Segundo, insurer New York Life Insurance has sold the property to Mattel, adding to the toy maker’s footprint in the South Bay city.  Mattel bought the 168,000-square-foot building at 2160 East Grand Avenue for $59 million, or $351 a square foot, according to property…

It’s news but not a big surprise: The Inland Empire claimed the biggest share of top 100 industrial leases nationwide in the first half of the year. A couple of years have elapsed since the inland market — which covers both Riverside and San Bernardino counties — held the top spot in the regular reports…

Prices for prime residential land continue an upward trend in central Orange County, approaching $8 million per acre at one of the market’s key master-planned developments. The price update came in the latest quarterly earnings call of publicly traded FivePoint Holdings, the Orange County Business Journal reported. The Irvine-based master planner of the Great Park…

Legacy Southern California mall developer and investor Macerich Company might still be working out details of a refinance of a Victor Valley property and something more complicated at the Santa Monica Place, but it’s definitely out of a major retail center in Phoenix. The Santa Monica-based retail REIT tapped Red Development, a regular partner on…

It’s good the Capistrano swallows don’t shift their schedule as much as the developers of River Street Marketplace. The 60,000-square-foot retail hub and food hall — situated just down the street from the San Juan Capistrano Mission famous for the little birds that return to nest in its Spanish colonial arches every spring — has…

Rainy Hake Austin is approaching the four-year mark The Agency. As president of one of Los Angeles’ largest brokerages, the executive stepped into her role at the height of the pandemic after heading up West Coast operations for Compass. She’s now helping lead The Agency’s business during a period of turmoil for L.A. agents and…

Developers in California might want to pencil out some new long-term projections based on the state’s latest outlook for water supplies. A recent report by the California Department of Water Resources — which oversees the various reservoirs, canals and other engineering works that shift water around the state under the name of the State Water…

Put the County of Los Angeles on the list of bottom-feeders in the Downtown office market. The county has struck a deal to pay $215 million for the Gas Company Tower at 5th Street and Grand Avenue, at the foot of Bunker Hill, the Los Angeles Times reports. The price works out to about $154…

Macerich is nearing completion on a refinance of its property in California’s High Desert as the mall owner works on a plan aimed at slashing $2 billion in debt. The Santa Monica-based real estate investment trust said Wednesday it’s close to refinancing The Mall of Victor Valley’s $115 million loan, which comes due Sept. 1.…