Month: May 2025

Tracy Tutor has entered the ring in the public match over the intersection of real estate and reality television.  Last week, Compass’ Leonard Steinberg and Eleonora Srugo, a luxury broker at Douglas Elliman and star of Netflix’s “Selling the City”, took the stage at The Real Deal’s annual NYC Forum to debate the industry’s depiction…

Two industrial landlords have sealed two leases for a combined 204,000 square feet in South Los Angeles and Harbor City in a growth market. Newport Beach-based Hager Pacific Properties closed a 108,000-square-foot distribution warehouse with packaging company California Supply at 13255 South Broadway, in South L.A., Commercial Observer reported.  The lease starts in July. Terms…

Sun Hill Properties is putting the kibosh on the planned 18-story expansion of the Hilton Los Angeles/Universal City complex in the face of rising hospitality wages.  The Studio City-based hotel developer pulled out after the Los Angeles City Council voted 12-3 on Wednesday to raise wages in the lead-up to the 2028 Summer Olympics, Commercial…

Pasadena could see a new 94,000-square-foot lab building spring up near the California Institute of Technology.  Trammell Crow Company submitted plans to erect a new academic facility for Caltech at 1364 East Green Street on land owned by the school, Urbanize Los Angeles reported. The developer presented its proposal at a preliminary consultation with the…

An estate in Newport Coast’s tony Pelican Crest neighborhood was in the midst of massive construction when it sold this week for $42 million in what is Orange County’s priciest deal so far this year. The property at 1 Pelican Crest Drive is located minutes from the Resort at Pelican Hill and Pelican Hill Golf…

The University of Southern California and developer Hamid Razipour have settled a years-long battle over a five-story development that would have obstructed the iconic L.A. Memorial Coliseum sign. The school bought the triangular parcel at 3851 South Grand Avenue, putting the kibosh on any development that could block the historic sign, Urbanize Los Angeles reported. …

Elon Musk’s Tesla is doubling down on its 82,000-square-foot service center in Santa Monica.   The Austin-based electric vehicle carmaker renewed its lease for the two-story industrial building at 1100 Colorado Avenue, L.A. Business First and Commercial Observer reported. The lease starts in January. Terms of the lease with Culver City-based Thompson Properties were not disclosed. …

Kirk Lazarus, the designer behind ultra-luxe homes and resorts, is renting his Santa Monica home in what’s now one of the city’s priciest rental listings.   Lazarus, who is CEO and founder of Molori Design, is known for his high-end resort and home designs. The entrepreneur bought the property at 966 Palisades Beach Road in 2010,…

Uncle Sam wants to unload a landmark federal courthouse in Downtown Los Angeles in what appears to be a fire sale. The U.S. General Services Administration has listed the 17-story, 751,800-square-foot Spring Street Courthouse for “accelerated disposition” at 312 Spring Street, in Civic Center, Bisnow reported. An asking price was not disclosed. The historic landmark…

Billionaire Stan Kroenke wants to build a state-of-the-art film and TV studio at Hollywood Park in Inglewood, just in time for the upcoming Olympics. The owner of the Los Angeles Rams and SoFi Stadium has filed plans to build Hollywood Park Studios at an undisclosed site at the 300-acre Hollywood Park retail village at 1001…