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How are future CRE developments shaping the city? Find out more about the Grand and other projects at Los Angeles Construction & Development Sept. 6. |
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When visitors think about places to visit in Los Angeles, among the first that come to mind are Hollywood, Beverly Hills and the beaches — not downtown Los Angeles. Downtown Los Angeles is usually an afterthought, Related Cos. Senior Vice President Rick Vogel said. 
But Vogel hopes Related's The Grand Avenue Project — when fully built-out — will change those perceptions. “Our hope is that the Grand could help restore downtown LA as the cultural epicenter of Los Angeles,” Vogel said. “We want downtown…
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Fed Up With Vacant Storefronts, Residents Force Cities To Punish Retail Landlords
Coast to coast, bustling retail meccas used to embody a decidedly American pastime: shop till you drop. But empty storefronts across the U.S. have cropped up in places that go far beyond the “retail apocalypse” that has battered suburban malls — and some municipalities are fed up. From retail corridors nestled in some of New York's trendiest neighborhoods to wealthy bedroom communities just outside of Boston, vacancy signage is becoming more common than glitzy placards announcing a big sale. 
Local governments, wary of landlords who choose to keep their properties empty — sometimes for months and years in the hopes of landing a deep-pocketed tenant — are now responding by exacting financial penalties against these proprietors. “There was uproar…
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Cress Capital Looks To Capitalize On Underappreciated Cerritos With $89M Office PortfolioCiting its central location between Los Angeles and Orange counties, Newport Beach-based Cress Capital has acquired a portfolio of five Class-A office buildings totaling nearly 462K SF in Cerritos for $89.5M. Cress purchased the property from Principal Real Estate Investors. Cress represented itself. Eastdil Secured's Adam Edwards and K.C. Scheipe represented the seller. 
“If you throw a dart on a map of LA and OC you'd land right here in Cerritos,” Cress Managing Partner Ryan Parkin said. “Within 10 miles, you have 3 million people. You are sandwiched in between LA and OC…
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13 Commercial Real Estate Execs On Why They Love City Skylines (Part 2)Skylines are so beloved that when Bisnow asked commercial real estate professionals to describe what they loved most about their city's skyline, we received dozens of responses. This is Part 2 of our memorable skyline series, featuring feedback from 13 execs from around the country. Check out the first installment here. |
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