January 15, 2000 |
The hub of Southern California's apparel industry--the massive California Mart in downtown Los Angeles--has been put up for sale and is expected to draw bids of more than $100 million, according to people familiar with property. Equitable Life Assurance Co., which took control of the property in 1994 in a foreclosure, is selling the complex as part of an ongoing effort to reduce its real estate portfolio. Officials who handle the giant insurance company's portfolio said they had no comment.
December 29, 1999 |
Thanks to confident consumers eager to beat climbing interest rates, sales and prices of existing homes in California and the rest of the nation rose in November, realty trade groups reported Tuesday. Sales of existing single-family homes in California rose 3% last month over the same period last year to a seasonally adjusted annualized rate of 665,780, the California Assn. of Realtors said. The median price of an existing single-family home in California jumped 12.
December 28, 1999 |
Most of the commercial real estate markets in Southern California will continue to prosper next year--though downtown Los Angeles will probably still struggle--and the long-suffering Mid-Wilshire market might finally turn around. Meanwhile, Orange County's office market will outpace all others in the region, and the Inland Empire will further expand its growing role as a center for warehousing and distribution with an industrial space base that now exceeds Orange County's.
CALIFORNIA | LOCAL
December 16, 1999 |
In the start of a nationwide crackdown, federal authorities Wednesday announced criminal charges against 39 Southern California mortgage loan brokers, real estate professionals, escrow agents and others accused of obtaining more than $110 million worth of fraudulent FHA-insured loans.
December 14, 1999 |
Regional malls, those retail shrines so beloved by Southern Californians since the automobile-crazy region boomed after World War II, are losing their monopoly on consumer desire. As shoppers find other ways to buy merchandise, several traditional malls--including that famous playground for Valley girls, the former Sherman Oaks Galleria--are being converted to such new hybrids as entertainment centers, "big box" retail centers, office buildings, schools and even housing.
December 7, 1999 |
Office leasing across Los Angeles and Orange counties remains strong, with vacancies declining and rents rising--albeit modestly--across most of the region, according to local real estate experts who spoke at an industry conference last week. In some markets, such as L.A.'s Westside and the west San Fernando Valley, rents are approaching levels not seen since the late 1980s.
November 30, 1999 |
Fast-growing technology companies looking for big blocks of space to rent are rewriting the commercial real estate leasing rules in Southern California--literally. So-called dot-com companies are looking for office and industrial space in huge chunks, often several hundred thousand feet at a time, in one of the most sustained flurries of big leases in Southern California since the heady days of the late 1980s.
October 27, 1999 |
Arden Realty Inc., one of the largest office property owners in Southern California, is close to signing an agreement with Eureka Broadband to sell telecommunications, Internet and related services to its tenants, company officials said. An announcement is expected to be made in the next couple of weeks, officials at the Los Angeles-based real estate investment trust told analysts and investors.
October 20, 1999 |
Southern California's housing market continued to make steady gains last month as economic growth once again combined with moderate interest rates to boost sales and prices. A total of 26,605 new and resale homes and condominiums sold in Southern California last month, up 6.1% from September 1998, according to Acxiom/DataQuick, a La Jolla-based real estate information service. Los Angeles County posted the strongest sales gain with an 8.
October 6, 1999 |
Martial arts master Jin Yong Kwon isn't knocked off balance easily. But even he was floored when he started shopping for a new space for his tae kwon do studio. Storefronts were so scarce in his Corona del Mar neighborhood that he resorted to knocking on doors for leads on possible vacancies. He's now paying 25% more per square foot for a studio half the size of his old one, where he lost his lease last summer.