November 2, 1999 |
The opening of two new oceanfront hotels, together with the purchase of the former Miramar Sheraton last month, has turned the warm sands of the Santa Monica beachfront into a very hot market for luxury hotels. With no more hotel construction allowed along the city's coastal area, room rates and occupancy levels are both likely to remain high.
October 16, 1999 |
The average monthly rent for an apartment in Los Angeles County pushed above $1,000 in the third quarter for the first time ever, rising 7.8% from a year ago to a record $1,012, according to a study released Friday.
CALIFORNIA | LOCAL
October 12, 1999 |
Continued strong housing demand, limited supply and the popularity of high-priced digs helped ratchet up September single-family home prices in the San Fernando Valley to their highest levels in seven years, figures released Monday show. Last month, the median price of a single-family home in the Valley was $225,000, a gain of 18.5% over the September 1998 figure of $189,900. It was the highest median price in any month since April 1992, when the median was $227,000.
CALIFORNIA | LOCAL
October 7, 1999 |
Gazing at the chaparral valley and rugged mountainside, Chumash Charlie Cooke said Mother Earth and Father Sky would be happy to see what has happened in this place of quiet beauty. Turning first to the east, where the day begins, he placed a conch to his lips to bless the land with the shell's plaintive, foghorn-like tones. The sweet perfume of burning white sage wafted from an abalone shell in the direction of the morning sun.
September 28, 1999 |
Kearny Real Estate Co. sold a 6-acre parcel near Long Beach Marina on behalf of Morgan Stanley Real Estate Funds to a joint venture of Long Beach-based Koenig Cos. and Rich Development Co. The principals did not disclose the purchase price, but real estate industry sources placed the value at $7 million.
September 21, 1999 |
Prices for apartment buildings in East Los Angeles, South Central and other modest neighborhoods, including some in Orange County, are climbing fast--much faster than prices for residential buildings in the region's more well-to-do districts, according to a recent report on what investors are paying for apartment buildings throughout the Southland.
September 7, 1999 |
"Give me land, lots of land," the old song goes. "Don't fence me in." That plea could be Los Angeles County's theme song these days as a shortage of land for homes, apartments and factories poses one of the biggest threats to the county's continued prosperity.
August 31, 1999 |
Fresh from a round of venture capital-raising that netted the company $8.75 million, fast-growing Web "hosting" provider Virtualis Systems Inc. has agreed to lease the 43,000-square-foot top floor of Media Studios North, an office development near the Burbank-Glendale-Pasadena Airport. The company, headed by 25-year-old Chief Executive Chris Lyman, started in a house three years ago before moving to interim facilities in Studio City.
August 28, 1999 |
In a sign that the Antelope Valley may finally be emerging from years of economic stagnation, Newhall Land & Farming Co. said Friday that it is entering into a joint venture with Kaufman & Broad Home Corp. to build a long-delayed, 5,000-home development on the western edge of Palmdale.
August 24, 1999 |
The office market in Los Angeles and Orange counties remained relatively strong during the first half of the year, but there were signs that the market's performance will fall below last year's results, according to a regional real estate survey. The vacancy rate for all classes of office space remained relatively stable, falling to 11.8% at midyear 1999 from 11.9% at the end of last year, according to Delta Associates, the research arm of Transwestern Commercial Services.