Golden State Portfolio Hits The Market
March 2, 2010
Back in December, CBRE won the pony show to sell off a 7 million square feet portfolio of our property. It’s officially hit the market and just in time for IOU’s.
Read More >>Record Breaking Land Site Headed Back to Bank
February 19, 2010
Back at the top of the market in 2007, Candy & Candy acquired an 8-acre development site in Beverly Hills. The price? $500,000,000 – or some $1400 per square foot! Just three years earlier, the seller, New Pacific Realty, had acquired the site for $33.5M. It was encumbered with a long-term lease to the Robinson-May [...]
Read More >>MySpace/Fox Interactive Highlights Trend
June 5, 2009
We’ve been saying for some time that office vacancy will continue to climb for sometime even if the employment numbers begins to stabilize. Despite all their efforts to be proactive, most companies are reactive to economic conditions when they are deteriorating. As a result, we see companies continuing to go deeper when considering cuts to [...]
Read More >>Commercial Real Estate Defaults Rise By 43% In First Quarter
April 1, 2009
Real Capital Analytics has released numbers for the first quarter, and defaults are up 43% to nearly $66B worth of loans. Q4 2008 ended with some $46B of loans in default. According to the article: 3,678 U.S. properties are now listed as in distress The LA Metro area has about $7.5 billion of distressed properties (up [...]
Read More >>Weekend Roundup
March 15, 2009
Los Angeles’ Largest Private Landowner Might Have to File For Bankruptcy Protection [Link] According to the WSJ, Meruelo Maddux Properties is contemplating a bankruptcy filing to help it cope with its debt load. The developer has played a part in a large part of Downtown LA’s revitalization but it has now stopped making interest payments on [...]
Read More >>Allen Matkins/UCLA California Office Forecast
February 5, 2009
The Allen Matkins/UCLA Forecast, which is biannual survey and index for California commercial real estate markets is predicting more of what we already are hearing: that the downturn in the overall commercial real estate will continue for the foreseeable future with a recovery beginning sometime in the latter parts of 2010. In the Bay Area, [...]
Read More >>Thelen Reid & Priest Chooses to Dissolve; Landlords Wondering Who’s Next?
October 28, 2008
84-year old law firm Thelen Reid & Priest’s partnership voted this morning to dissolve the firm by as early as late November. The firm has succumbed to market, staffing, and economic forces. As previously mentioned, the firm occupies roughly 175,000 square feet of Class A office space locally, space which will very likely be hitting [...]
Read More >>LA City Council Passes Ordinance Placing Moratorium on Fast Food Restaurants in Impoverished Areas
July 30, 2008
The city of Los Angeles council has unanimously approved an ordinance which puts a moratorium on any new fast food restaurans in an “impoverished” area. This is likely the first time something like this has been passed in an effort to fight obesity. Unfortunately, the problem goes beyond simply blocking any further fast food restaurants [...]
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