L.A.'s not-quite 'subway to the sea' finally breaks ground

More than 30 years ago, officials promised that Los Angeles’ first modern subway would cut through the congested and heavily populated Wilshire Corridor connecting downtown to the city’s coastal suburbs. Now, after decades of delay over safety and environmental concerns, court battles and congressional debate, construction is finally beginning on the first phase of what

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Rexford Acquires Avenue Kearny Buildings for $11.5 Million

The real estate investment trust has acquired Avenue Kearny – an industrial park totaling 138,980 square feet for $11.5 million. This sum breaks down to $83 per square foot. The industrial park is located in Valencia. Rexford Industrial Realty Inc. primarily focuses on value-add properties within infill submarkets in Southern California. Speaking to this, co-CEOs

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Moorpark-based PennyMac Enters $550 Million Mortgage Agreement with Bank of America

PennyMac Mortgage Investment Trust, a real estate investment trust based in the city of Moorpark, have entered into an agreement with Bank of America to fund approximately $550 million in new mortgages. A real estate investment trust is a type of company, usually with many investors, that typically owns and operates a portfolio of income-producing

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The Concept of Walkability Emerges as Urban Development Trend To Watch

Somewhat surprisingly, Los Angeles has emerged as a city that is ready to embrace walkability going forward. A report titled “Foot Traffic Ahead: Ranking Walkable Urbanism in America’s Largest Metros” by the Center for Real Estate and Urban Analysis at George Washington University School of Business along with LOCUS: Responsible Real Estate Developers and Investors

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Mixed-use Project Proposed for Vacated Daily News Headquarters in Woodland Hills

The Woodland Hills Warner Center Neighborhood Council announced the approval of its first development under the Warner Center 2035 Specific Plan. The developer, Associated Estates of Richmond Heights, Ohio, has proposed a mixed-use development for the site located at 21221 Oxnard St. The site is currently occupied by a vacant 124,000 square foot office building

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