March 27, 2014 |
In a sign that the definition of prime office space is undergoing a dramatic shift, an old downtown Los Angeles office complex - once considered second rate - is now outperforming many of its newer, glitzier competitors. PacMutual Plaza, which dates to 1908, was one of the best addresses in Southern California until an unprecedented office building boom in the late 1980s and early 1990s brought a stately new crop of skyscrapers to town. For decades to follow, PacMutual - in the same block as the Biltmore hotel in Pershing Square - was a lower-cost alternative to such elite enclaves of corporate America as U.S. Bank Tower, Two California Plaza and the Gas Company Tower.
March 4, 2014 |
Culver Studios, a historic independent studio where “Gone with the Wind” and “Citizen Kane” were filmed, is changing hands. Lehman Bros. Holdings has reached an agreement to sell the Culver City property to Hackman Capital Partners, a Los Angeles real estate investment firm, two sources familiar with the matter said. The transaction, expected to close this week, is among former Lehman assets being sold off following the investment firm's 2008 bankruptcy filing. ON LOCATION: Where the cameras roll Hackman Capital is buying the property for $85 million, close to what Lehman and other investors paid Sony Pictures Entertainment a decade ago for the 14-acre Washington Boulevard property, sources said.
February 13, 2014 |
One of the tallest office buildings in downtown Los Angeles has been acquired by a major Hollywood real estate investor, CIM Group, in an unusual portfolio sale that included a regional shopping center in Montclair, a high-rise in Anaheim and a hotel in Bakersfield. The crown jewel of the seven properties acquired by CIM Group is Two California Plaza, a prestigious but troubled skyscraper on Bunker Hill where gleaming office towers erected during the last building boom decades ago are having a tough time attracting tenants.
CALIFORNIA | LOCAL
February 11, 2014 |
Investigators in Orange County are looking into the business dealings of a man and woman who were shot to death inside their multimillion-dollar home in San Juan Capistrano over the weekend. The killings have shocked this normally quiet mission town, where violent crime is rare and homicides even rarer. Bradford and Andra Sachs were found dead at home early Saturday. An 8-year-old boy believed to be their son was also found shot and remains hospitalized. Two teenage girls, believed to be their daughters, were in the house at the time but were not hurt.
January 19, 2014 |
Despite a mixed performance in 2013, the Southern California office market improved slightly overall as the year finished with small increases in occupancy and rents. The ever-popular Westside continued to lead the way as active leasing helped landlords fill empty space in their buildings and ratchet up rents. Orange County also held on to its upward trajectory. "Things are getting better, little by little," said Petra Durnin, director of research in the West for real estate brokerage Cushman & Wakefield.
January 9, 2014 |
Mike Judge, the creator of the animated "Beavis and Butt-head" and "King of the Hill," is also known for taking a sharply satirical look at workplace politics in his 1999 hit comedy, "Office Space. " He returns to that white-collar canvas in a totally different setting in his new HBO comedy, "Silicon Valley," which is scheduled to premiere April 6. The show "takes a comic look at the modern-day epicenter of the high-tech gold rush, where the people most qualified to succeed are the least capable of handling success," according to production notes.