DTLA Site Sells For $795 Per Sq.Ft.

A foreign investor paid $26.5 mil for a multifamily development site in downtown Los Angeles. The property is entitled for a 24-story, 241-unit condo project that includes retail. The site sold for $795 per square foot. The site is located at 1135 W. 7th St. and is directly adjacent to the planned new Mayfair Hotel, […]

Grand Central Market Celebrates its 100th Anniversary

Grand Central Market is celebrating its 100th anniversary this year! The 30,000-square-foot open-air arcade of food vendors opened in 1917. At the time it was declared “the largest and finest public market on the Pacific Coast.” Standing at the intersection of culture and cuisine, the market’s transformation continues as food truck sensation Eggslut and Golden […]

The Self-Driving Car Trend Could Impact Development Strategies

The utopian idea of self-driving cars roaming the streets of Los Angeles has some real estate professionals scratching their heads. Many think the trend could lead to massive roadway and traffic redesigns, which could drastically reshape real estate development patterns. The most significant change could be a reduced need for parking, meaning that developers won’t […]

New Renderings Released for Fashion District’s Massive City Market Project

New renderings of the major mixed-use development City Market, planned for the Fashion District, was released this week at the Downtown Los Angeles Neighborhood Council’s Planning and Land Use Committee meeting. The massive project is expected to span across nearly 10 acres and would transform Downtown Los Angeles’ Fashion District. Plans call for the project […]

Retail Asking Rates Continue to Increase

In the first quarter of 2017, the Los Angeles retail market vacancy rate ticked up 30 basis points to 4.1% as 532,000 sq.ft. were delivered to the market, according to the latest research from NAI Capital. This new space includes the largest IKEA in the United States, at 470,000 sq.ft. in the city of Burbank. […]

Park Between Chinatown and LA River to Open After 16-Year Delay

After 16 years of waiting, Angelenos will finally have access to Los Angeles State Historic Park. The 32-acre site between Chinatown and the Los Angeles River will open Saturday, April 22, after construction was repeatedly stalled due to budgeting issues, the Los Angeles Times reported. The city had originally planned to build an industrial and […]