WOODLAND HILLS, CA-Privately held Grosvenor acquires 252,973-sf Warner Corporate Center office complex from a Nomura partnership. EOP and Douglas Emmett eye neighboring portfolio despite its estimated $450-million price tag.
LOS ANGELES-The business banking unit of Washington Mutual takes 26,300 sf at the Equity Office complex in Downtown, will relocate from its current home in the nearby 1000 Wilshire building.
SHERMAN OAKS, CA-The mid-price restaurant chain signs $7-million lease for new corporate space inside Sherman Oaks Galleria. Firm will move from its current building on pricier Westside.
LOS ANGELES-The SEC says the two Diamond Bar men bilked hundreds of investors, then used some of the money to buy racehorses and start offshore accounts. Many of the victims were senior citizens, government claims.
SAN GABRIEL, CA-More than 100 angry residents voice complaints at public hearing for a 59-unit assisted-living development, even though the builder says the complex might very well house the protesters' parents one day.
LOS ANGELES-The city's Metropolitan Transit Authority had asked for $41 million, claiming the construction giant submitted false bills and used sham companies to pad its profits. Company calls jury award unjust and vows to appeal.
SAN PEDRO, CA-Chicken of the Sea International will shut down its plant here on Terminal Island and convert it to a warehouse. Company will move the operation to America Samoa, where tuna and inexpensive labor alike are more plentiful.
IRWINDALE, CA-Freshpoint of California takes 97,794 sf of space for five years at Los Angeles Regional Distribution Center. Complex is former home of Hughes Family Markets.<p>
LOS ANGELES-The Downtown office of Cushman & Wakefield will move a few blocks away, from Arco Plaza to newer Sanwa Bank Plaza. The relocation is an outgrowth of firm's recent acquisition of Cushman Realty.
LOS ANGELES-The law firm of Winston & Strawn takes 50,000 sf in Wells Fargo Center through 10-year deal valued at about $15 million. After suffering throughout much of the 1990s, the CBD now appears to be on its way back.