LA Times Is Moving Out Of Iconic HQ For New Offices In El Segundo
June 28, 2018

LA Times Is Moving Out Of Iconic HQ
For New Offices In El Segundo

Join Irvine Co. President Chris Marsh at Bisnow's Multifamily Annual Conference SoCal | July 18

For Darrell Kunitomi, a communications representative for the LA Times, the newspaper's 83-year-old headquarters in downtown Los Angeles has been a second home. 

For nearly 40 years, Kunitomi has served as the LA Times building tour guide, hosting more than 300 tours a year. He estimates he has led more than 400,000 people on tours during his career.

Kunitomi tells visitors about the 1935 building's famous Globe Lobby, the 44 Pulitzer Prizes listed on the wall, the 10-foot-high murals by Hugo Ballin, the 5.5-foot revolving aluminum globe on a bronze pedestal and the busts of the Times' famous…

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Report: Majority Of Women In CRE Face Pay Gap, Opportunity Discrimination And Sexual Harassment

The biggest challenges women in commercial real estate face today are equal pay, lack of upward mobility and not feeling like they are part of the team, according to a new report by recruiting and staffing firm RETS Associates.

More than half of the women surveyed reported they had been sexually harassed at some point in their career. “Women are more empowered than ever before to stand up to discrimination, but change must come from the top and currently…

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Nationwide Apartment Rent Growth Slumps To 8-Year Low In Q2

Though millennials and baby boomers alike continue to drive demand in the U.S. multifamily sector, the market is losing steam amid elevated supply pressures, rising interest rate concerns and issues related to the length of the cycle.

The good news: U.S. apartment rents advanced 2.3% from January to midyear, according to real estate analytics firm RealPage. Rent prices were up 1% in Q2 compared to the year prior, with Orlando, Florida; Las Vegas; and Jacksonville, Florida; leading the country in annual rent growth

But RealPage Chief Economist Greg Willett told Bisnow that although rents have risen a record-breaking 32 quarters, the pace at which rents are growing has slowed considerably because of the wave of multifamily product under construction and market headwinds that come with the aged cycle. 

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Today's Differentiator Is Tomorrow's Standard: How Developers Approach Smart Buildings

Rudin Management's first foray into smart building development was prompted by one of life's great motivators — fear.

“I wish I could say it was a grand epiphany. But it wasn't,” Rudin Chief Operating Officer John Gilbert said. “We had a vacant building. 55 Broad St. had been vacant for six years [and we were asking] ‘What the heck are we going to do to differentiate this building from all other vacant buildings in Lower Manhattan?'”

In the early 1990s, Lower Manhattan had around 30M SF of vacant office space, Gilbert said, likening the time to a depression. The answer, the company found, was taking the aging office building and equipping it with the best smart features of the time. It opened as the New York Information Technology Center in 1996.

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Bucking The Trend: Developers Building More Parking For Their Office Buildings

Two office developers still see tenants wanting that most basic of all amenities: parking spaces.

Now, Preferred Office Communities and Seven Oaks Co. are building second parking decks onto their Central Perimeter trophy towers to accommodate companies whose employees still use their cars to get to work.

Even with a plethora of transit options in Atlanta's Central Perimeter submarket — three MARTA stations, various shuttle services and Uber and Lyft — Seven Oaks and Preferred Office are pushing parking ratios beyond the market norms by adding second parking decks.

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The NSA Has 8 Spying Hubs In Major American Cities

Though the National Security Agency is now well known for its vast network of digital surveillance, a new report from The Intercept has revealed eight of its most crucial pieces of real estate.

The NSA has a long and involved partnership with AT&T, one of the largest carriers of internet and telephone communications in the world, as first reported by the New York Times in 2015. Of the thousands of AT&T properties, The Intercept…

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