MARKET NEWS
Bernard Arnault buying Rodeo Drive double-lot for $250M: sources
The Real Deal Los Angeles
An entity tied to French billionaire Bernard Arnault, CEO of Louis Vuitton’s parent company, is buying a double-lot property on Rodeo Drive for about $250 million, The Real Deal has learned. Sources close to the deal say it is currently in escrow, but hasn’t closed yet. The two-story building, which spans 12,170 square feet on the ground floor and 10,100 square feet on the mezzanine level, first hit the market in May for $300 million. ...
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Details revealed for 97-unit mixed-use project in Long Beach
The Real Deal Los Angeles
Long Beach could see not one, but two large residential projects within blocks of each other move forward this Thursday. Along with a 120-unit mixed-use project at 1105 Long Beach Boulevard, the Long Beach Planning Commission will review a 97-unit project around the corner at 1112-1130 Locust Avenue. The developer of the latter project is Beverly Grove-based South Park Group and is called Locust Long Beach. The seven-story project will be 89,000 square feet and ...
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WeWork revises non-compete agreements following settlement with NY AG
The Real Deal Los Angeles
The New York Attorney General’s office has reached a settlement with WeWork over non-compete agreements which the company had required almost all its employees to sign. The overly broad agreements barred employees from working for competitors after leaving WeWork regardless of their salaries, responsibilities and knowledge of confidential information, according to Attorney General Barbara Underwood. Her office’s investigation of the company found that it had made employees at almost all loca ...
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L’Oreal signs major lease in unincorporated Kern County
The Real Deal Los Angeles
One of the world’s largest cosmetics companies will soon fill up half of a 480,000 square-foot industrial center in unincorporated Kern County, where space is more easily attainable than in Los Angeles County. L’Oreal will lease 240,000 square feet for the regional logistics operations of its SalonCentrics subsidiary, according to Colliers International, which negotiated the transaction for the Tejon Ranch Commerce Center. The deal is another sign that major companies are continuing to look ...
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Burbank midcentury built by Disneyland designer asks $1.3M
Curbed LA - All : Love where you live
It was the longtime home of one of Disney’s original imagineers This modern-style residence in Burbank sits alongside the LA River, less than a mile from Walt Disney Studios. That must have made things easy for its designer, Disney artist Claude Coats, who built the home for himself in 1940—the same year that the company opened its new headquarters in Burbank. Coats worked on many of the studio’s classic films from the 1940s and ’50s, and later transitioned to a role as one ...
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Trump’s latest tariffs on China target steel, metal products
The Real Deal Los Angeles
Steel and other metal products are among the goods included in President Trump’s latest round of tariffs against Chinese imports, and come months after a similar tax on imported metals. The trade war between the U.S. and China intensified Tuesday, as the Chinese government announced $60 billion in tariffs on American goods in response, according to Bloomberg. On Monday, the president announced he would impose a 10 percent tariff on $200 billion of Chinese goods. ...
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