CALIFORNIA | LOCAL
May 6, 2011 |
Alexander Haagen, a major Southern California shopping center developer who, as president of the Los Angeles Memorial Coliseum Commission in the late 1980s, clashed with Los Angeles Raiders owner Al Davis over proposed stadium seating renovations before Davis announced plans to move the pro football team to suburban Irwindale, has died. He was 91. A longtime resident of Palos Verdes Estates, Haagen died of age-related causes April 26 at an assisted-living center in Beverly Hills, said his son Alexander Haagen III. Haagen began his real estate career in Los Angeles in the late 1940s with his wife, Charlotte, and founded Alexander Haagen Properties in 1963.
March 17, 2011 |
Developer Rick Caruso has wooed Nordstrom away from the rival Glendale Galleria and will bring the department store to his Americana at Brand shopping center in fall 2013. To accomplish the move, Caruso is buying Nordstrom's building from the Seattle retailer. Although most of the Galleria is owned by General Growth Properties, it's common for major department stores to own their own real estate within a mall. Caruso wouldn't say how much he is paying for the Nordstrom building, located in a wing across Central Avenue from the original mall.
March 9, 2011 |
Real estate developer Rick Caruso said Tuesday that he has purchased the Golden Key Hotel in Glendale, clearing the way for an expansion of his Americana at Brand shopping center. Hotelier Ray Patel sold his 55-room inn to Caruso Affiliated for an undisclosed price and will continue to operate it as a tenant for the rest of the year, Caruso said. The transaction ends a standoff between Caruso and Patel, who previously rejected Caruso's $6-millon offer for the property. The hotel on Colorado Street and an adjacent former retail building Caruso bought earlier will be demolished to enlarge the mall.
March 8, 2011 |
Few major commercial real estate projects have launched in Southern California since 2008, when the economic downturn crashed the party. That may be about to change. Mall magnate Rick Caruso is set to break ground Tuesday on a $60-million luxury apartment and retail development near his Grove shopping center in Los Angeles. FOR THE RECORD: Luxury development: An article in the March 8 Business section about a housing and retail project planned by Rick Caruso on Burton Way at La Cienega Boulevard included a map that had two streets labeled as Beverly Boulevard.
February 24, 2011 |
Caruso Affiliated, one of the region's best-known shopping center developers, is embarking on an expansion program designed to double the size of the firm's real estate portfolio and its revenue over the next five years. Caruso Affiliated, which is headquartered at the Grove shopping center in Los Angeles, also owns the $400-million Americana at Brand. Other properties include the Waterside in Marina del Rey, the Promenade at Westlake and the Commons at Calabasas. Work is set to begin shortly on a luxury apartment complex at 8500 Burton Way in Los Angeles at the intersection of La Cienega Boulevard, the company said Wednesday.
January 23, 2011 |
At the Westfield Culver City mall, crowds of lunchtime diners fill scores of booths and tables while others line up to order meals at one of the many counters. You can still find the mall culinary standard Hot Dog on a Stick tucked discreetly off to one side. But more urbane fare such as sushi, Vietnamese noodles and Korean chicken is the norm in the area once known as the food court. Now, what Westfield calls a dining terrace exemplifies the recent transformation of the mall from a place many considered downscale and dangerous to a choice destination for more than 10 million visitors last year ?
December 28, 2010
EVENTS Float Decorating As impressive as the Rose Parade's floral floats are, the intricate details of fruits, seeds, bark and flowers are best seen up close. Get a sneak peek at the floats backstage at three Rose Parade locations. Rosemont Pavilion, 700 Seco St.; Brookside Pavilion, 1001 Rose Bowl Drive; Rose Palace, 835 Raymond Ave.; Pasadena. 9 a.m.-5 p.m. $10. (626) 449-4100. http://www.Tournamentofroses.com. Strand Ice Rink The Strand shopping center in Huntington Beach turns into an unlikely winter wonderland with views of the Pacific.
December 23, 2010
The Strand shopping center in Huntington Beach turns into an unlikely winter wonderland for two weeks this holiday. Next to Pacific Coast Highway and the ocean, it will nonetheless host a sparkling ice rink that can challenge Rockefeller Center on its views. The Strand, 155 5th St., Huntington Beach. Daily through Jan. 5. 10 a.m.-9 p.m. $7-$5. (714) 465-4528.
December 21, 2010 |
Union Station in Los Angeles is being sold to a Texas investment firm as part of a $505-million agreement announced Tuesday to purchase real estate assets from ProLogis, the world's largest warehouse company. The properties are being sold to TPG Capital, formerly known as Texas Pacific Group, a global private investment firm headquartered in Fort Worth, with more than $47 billion in assets under management. As part of the deal, TPG said it was acquiring four shopping centers, two office buildings, 11 mixed-use projects and two residential development joint ventures.