LOS ANGELES-In Downtown's largest lease of the year, Paul, Hastings, Janofsky & Walker LLP takes 208,847 sf at the once-troubled Arco Plaza. Part of the project will be renamed Paul Hastings Tower.
INDUSTRY, CA-Liberty Glove Inc. takes 181,500 sf of industrial space for $8 million at Catellus Commerce Center, while sauce-maker Lee Kum Kee spices up the market with a $5.6-million deal for 110,929 sf at nearby Bechler Corp. project.
LOS ANGELES-The annual report by Southern California Association of Governments says LA and five neighboring counties have done little to solve transportation, education and housing woes. The economy could be jeopardized if progress isn't made quickly.
HAWTHORNE, CA-The private Barros Family Trust acquires South Bay's 98,004-sf Hawthorne Plaza, as supermarket-anchored projects continue to be a bright spot in the otherwise lackluster market for retail property.
LOS ANGELES-Greines, Martin, Stein & Richland LLP takes 20,423 sf of office space for six years at Wilshire Courtyard. The firm will relocate from Beverly Hills early next year.
LOS ANGELES-Democrats Tony Cardenas and Wendy Greuel will face each other in a showdown next spring, after neither is able to win a majority in a special election. Many of the areas in their East San Fernando Valley district are coveted by developers.
VAN NUYS, CA-The manufacturer and distributor of cell-phone accessories signs five-year deal for 98,840 sf of industrial space here at Lewis Business Center. The relocation of 70 workers from their longtime Pacoima home is set for the second quarter of next year.
LOS ANGELES-Anchor Pacifica Group pays $3 million for a 23-unit building in Arcadia, and Amusement Industry spends nearly $1.1 million for 28 units in Long Beach, as multifamily investment remains strong even as sales of other types of income-producing property falters.
LOS ANGELES-The City Council gives its final blessing for a developer's 1.2-million-sf 'NoHo Commons' mixed-use complex, a cornerstone of LA's efforts to redevelop North Hollywood's blighted urban core. Construction could begin late next year.
VALENCIA, CA-Avenue Crocker Investors LLC acquires 90,000-sf industrial structure in this northern LA County community from privately held Earle Properties.