Adler Realty Investments

The last surviving Brown Derby restaurant building, which dodged the wrecking ball in the mid-2000s, has been sold for $9.25 million to local investors. The domed structure at Los Feliz Boulevard and Hillhurst Avenue in Los Angeles was the fourth Brown Derby, a small restaurant chain popular with the entertainment industry in Hollywood's Golden Age. The sellers, a group led by Adler Realty Investments Inc. of Woodland Hills, had let go of their plans to raze the building and build a five-story condominium and retail complex.

The last surviving Brown Derby restaurant building, which dodged the wrecking ball in the mid-2000s, has been sold for $9.25 million to local investors. The domed structure at Los Feliz Boulevard and Hillhurst Avenue in Los Angeles was the fourth Brown Derby, a small restaurant chain popular with the entertainment industry in Hollywood's Golden Age. The sellers, a group led by Adler Realty Investments Inc. of Woodland Hills, had let go of their plans to raze the building and build a five-story condominium and retail complex.

Plans have been announced for 67 apartments to be built on the site of 20 aging bungalows in the Valley Village district of Los Angeles by a joint venture of Adler Realty Investments Inc. of Woodland Hills and Westside-based California Villages Inc. The three-story, garden-style complex of two- and three-bedroom apartments will replace the small 1940s bungalows on about 1 1/2 acres along the 5300 block of Corteen Place in the San Fernando Valley, said Adler Realty principal Michael Adler.

 The last surviving Brown Derby restaurant building, which dodged the wrecking ball in the mid 2000s, has sold for $9.25 million to local investors. The domed structure at the intersection of Los Feliz Boulevard and Hillhurst Avenue in Los Angeles was the fourth Brown Derby, a small restaurant chain popular with the entertainment industry in Hollywood's Golden Age. The sellers, a group led by Adler Realty Investments Inc. of Woodland Hills, had let go of their plans to raze the building and build a five-story condominium and retail complex.

 The last surviving Brown Derby restaurant building, which dodged the wrecking ball in the mid 2000s, has sold for $9.25 million to local investors. The domed structure at the intersection of Los Feliz Boulevard and Hillhurst Avenue in Los Angeles was the fourth Brown Derby, a small restaurant chain popular with the entertainment industry in Hollywood's Golden Age. The sellers, a group led by Adler Realty Investments Inc. of Woodland Hills, had let go of their plans to raze the building and build a five-story condominium and retail complex.

Construction has been approved for the Agoura Design Center, a 7-acre complex along Highway 101 in Agoura Hills that will house seven furniture retailers under one roof. Developer Adler Realty Investments Inc. is building the $27-million, 118,000-square-foot project between Kanan and Chesebro roads. Tenants will include Ethan Allen, Drexel Heritage, Creative Leather, Broyhill, Hendradon, Stickley and Treasures.

As the mortgage-lending boom continues at a rapid pace, industry giant Countrywide Home Loans continues to acquire office space near its Calabasas headquarters. The latest transaction is its $29-million purchase of a Thousand Oaks office building built in 1983 to be the headquarters of Exxon Corp.'s domestic oil and gas unit. The new building is about 15 miles west of Countrywide's Calabasas campus. The Countrywide Credit Industries Inc.

The last surviving Brown Derby restaurant building, a link to the golden age of Hollywood, is on the market for $10.6 million. Now an Italian restaurant and bank, the domed structure at the intersection of Los Feliz Boulevard and Hillhurst Avenue was the fourth Brown Derby, a small restaurant chain popular with the entertainment industry. The owners, a group led by Adler Realty Investments Inc., let go of plans they had in the mid-2000s to raze the building and build a dense residential and retail complex.

Adler Realty Advisors Inc. has acquired the 156,696-square-foot Legacy Oaks Corporate Centre office building and surrounding acreage in Thousand Oaks on behalf of an investment group for more than $24 million from Legacy Partners Commercial. The five-story Class A office building is on West Hillcrest Drive, just north of the Ventura Freeway and near The Oaks and Janss malls. It was developed in the early 1980s as the headquarters of what was Exxon Corp.'s domestic oil and gas unit.

Los Angeles County's office market continued to tilt in favor of landlords last quarter, as businesses expanded and pushed the vacancy rate down 3 percentage points, to 14.1%, from the same period a year earlier. Nearly 1.2 million square feet of office space were taken off the market in the quarter that ended March 31, according to research by real estate brokerage Cushman & Wakefield. About 4.3 million square feet have been absorbed in the last year.

Plans have been announced for 67 apartments to be built on the site of 20 aging bungalows in the Valley Village district of Los Angeles by a joint venture of Adler Realty Investments Inc. of Woodland Hills and Westside-based California Villages Inc. The three-story, garden-style complex of two- and three-bedroom apartments will replace the small 1940s bungalows on about 1 1/2 acres along the 5300 block of Corteen Place in the San Fernando Valley, said Adler Realty principal Michael Adler.

Six Flags Inc. said Thursday that it might sell its Magic Mountain and Hurricane Harbor amusement parks in Valencia and raised the possibility that they could be dismantled for real estate development. Facing mounting losses and declining attendance, Six Flags wants to reduce its $2.1 billion in debt by selling parks in Buffalo, N.Y.; Denver; Seattle; Houston; and Concord, Calif., in addition to Magic Mountain.

A vast office park in Warner Center -- the white-collar business hub of the San Fernando Valley -- has been sold for an estimated $80 million to investors who see it as central to an evolving and increasingly dense commercial and residential community. Emerging from ranch land along the Ventura Freeway in Woodland Hills, Warner Center has grown to be one of L.A.'s largest urban developments. Conceived in the mid-20th century as a downtown for the Valley, the area is now a sweeping complex of office parks, high-rises, apartments and shopping centers.