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Real Estate Industry Southern California

BUSINESS
February 5, 2000 | Jesus Sanchez
CB Richard Ellis Inc., one of the nation's largest real estate services firms, will relocate most of its headquarters staff and its downtown Los Angeles brokers into Wells Fargo Center on Bunker Hill, according to people familiar with the move. Most of the firm's executives are in El Segundo, and a significant number of corporate staff and brokers are in two downtown buildings.
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BUSINESS
January 18, 2000 | DARYL STRICKLAND, TIMES STAFF WRITER
The median home price in Los Angeles County rose 4% in December from the year-earlier month, pushing the level for all of 1999 close to its all-time high set in 1991, according to preliminary figures released Monday. In the hotter Orange County market, meanwhile, the median price surged 9% last month to a record, dwarfing the previous high and capping another strong year for the region's bellwether housing market, according to final figures.
BUSINESS
January 15, 2000 | JESUS SANCHEZ, TIMES STAFF WRITER
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.
BUSINESS
December 29, 1999 | DIANE WEDNER, TIMES STAFF WRITER
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.
BUSINESS
December 28, 1999 | BOB HOWARD, SPECIAL TO THE TIMES
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 | DAVID ROSENZWEIG, TIMES STAFF WRITER
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.
NEWS
December 14, 1999 | MORRIS NEWMAN, SPECIAL TO THE TIMES
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.
BUSINESS
December 7, 1999 | JESUS SANCHEZ, TIMES STAFF WRITER
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.
BUSINESS
November 30, 1999 | BOB HOWARD, SPECIAL TO THE TIMES
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.
BUSINESS
October 27, 1999 | Bloomberg News
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.
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