Los Angeles

LOS ANGELES-Pivotal Century Plaza Hotel LLC spends $70 million on the Century Plaza Hotel and another $40 million Saint Regis, neighboring hotels fronting the Avenue of the Stars. "We have created an urban resort," says company founder Francis Najafi.

LOS ANGELES-Soaring temperatures across the state are expected to cause a second straight day of outages today. More than 100,000 commercial and residential property owners lost power Monday.

SUN VALLEY, CA-Triscenic Production Services pays privately held LJK Properties $2.2 million for a 35,100-sf industrial project in this LA suburb. The building contains 5,200-sf of office space.

LOS ANGELES-Developers have moved forward with construction of Wateridge Two, even as vacancy rates rise on the Westside.

LOS ANGELES-Developer JMB Realty Corp. begins long-awaited Westside project after signing $500-million lease with entertainment conglomerate MGM. Brokers tell GlobeSt.com another big lease deal is in the works that could guarantee more than 80% of 34-story tower will be rented when in opens in 2003.

LOS ANGELES-Brokers tell GlobeSt.com that group advised by J.P. Morgan Chase is offering more than $240 million for the landmark Santa Monica office complex. Owner confirms interest from several parties, but wants to keep options open.

LOS ANGELES-German firm takes 110,000 sf at Watson Corporate Center in Carson. The firm is locating its local headquarters there.

LOS ANGELES-Hotel giant signs sweeping affiliation agreement with Mexican chain, one of Hilton's most ambitious steps yet to expand into the lucrative market.