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In 2001 the Carlyle Group bought the building for $119 million, [1] and Hines Real Estate Investment Trust in Houston, Texas paid $287 million for One Wilshire in 2007. [3] It sold in 2013 from Hines Real Estate Investment Trust to GI Partners for $437.5 million, the highest price ever paid for an office building in downtown Los Angeles. [ 3 ]
California Plaza was a ten-year, $1.2 billion project. Started in 1983, the Two California Plaza tower was completed in 1992 during a significant slump in the downtown Los Angeles real estate market. The tower opened with only 30 percent of its space leased and overall vacancy rates in downtown office space neared 25 percent. [7]
According to Real Capital Analytics, a New York real estate research firm, more than $160 billion of commercial properties in the United States are now in default, foreclosure, or bankruptcy. In 2024, office leasing volume rose to its highest level since 2020, but roughly 60% of active office leases went into effect prior to the pandemic. [ 5 ]
Tallest building constructed in Los Angeles in the 2010s until the Wilshire Grand Center [36] 15 Metropolis Tower D 647 (197) Harley Ellis Devereaux: 58 2019 Residential 889 Francisco St. [11] [37] 16 820 Olive: 637 (194) Onni Group: 49 2019 Residential 825 S Hill St Los Angeles, CA 90014 \ Formerly the tallest residential building in ...
Aon Center is a 62-story, 858 ft (262 m) Modernist office skyscraper at 707 Wilshire Boulevard in downtown Los Angeles, California. Site excavation started in late 1970, and the tower was completed in 1973.
In 1999, the Los Angeles City Council passed an Adaptive Re-Use Ordinance, allowing for the conversion of old, unused office buildings to apartments or "lofts."Developer Tom Gilmore purchased a series of century-old buildings and converted them into lofts near Main and Spring streets, a development now known as the "Old Bank District."
The Los Angeles Times Building. Times Mirror Square is a complex of buildings on the block bounded by Spring, Broadway, First and Second streets in the Civic Center district of Downtown Los Angeles. It was headquarters of the Los Angeles Times until 2018. It is currently vacant, with plans being proposed regarding how to best utilize the ...
Caruso properties have won awards for design and development, including the 1997 Golden Nugget Grand Award for the Promenade at Westlake, in the Best Commercial Project for Retail category; [10] the Urban Land Institute’s Award for Excellence for The Commons at Calabasas in 1999 and The Grove at Farmers Market in 2003; [11] and ICSC's Gold Award in the 2009 United States Design and ...