Downtown L.A. downturn gets labeled as bad as Great Depression. (Los Angeles real estate downturn)(Quarterly Real Estate Report) (Industry Overview)

From: Los Angeles Business Journal | Date: December 2, 1991| Author: Mullen, Liz | Copyright information

Downtown Los Angeles is suffering through a real estate downturn which can only be compared to the Great Depression of 1929, said Albert C. Martin Jr., partner in the architectural firm which has built L.A.'s major landmarks, from the City Hall in 1928 to the Sanwa Bank Plaza in 1991.

The acclaimed architectural firm in the last year has been forced to lay off half its 200 employees and has shelved designs for an 88-story office tower it was going to build for Shuwa Investme...

Read all of this article with a FREE trial to HighBeam Research

Related newspaper, magazine, and journal articles from HighBeam Research

Assessing the market: today & tomorrow. (residential real estate in Los Angeles, California) (A Supplement to Los Angeles Business Journal: Residential Real Estate) (Industry Overview)
Los Angeles Business Journal ; ... getting ready to move--prices are falling. Buyers, conditioned by news of foreclosures, auctions, and years not months on the market ... estate trends. Remember, although newspapers may rush to print the news that for two weeks home mortgage applications have been up, two ...
Los Angeles office property.(New Deals)(Supreme Real Estate purchaser )(Brief Article)
Real Estate Alert ; Supreme Real Estate, a Los Angeles firm backed by an Iranian family, is under contract to pay $63 million, or $225/sf, for 660 South Figueroa, a 279,000-sf office building in downtown Los Angeles. The $225/sf price brings an initial yield of about 7%. Crescent Real Estate Equities was among the
Despite all the hoopla, the real estate slump continues. (real estate in Los Angeles, California area) (Special Report: Quarterly Real Estate Report)
Los Angeles Business Journal ; Despite all the hoopla, the real estate slump continues Ah yes. Spring, the season of rebirth, is upon us. The Persian Gulf War is over; our heroic troops are arriving back home; and the Bush Administration is finally turning its attentions to long-neglected domestic affairs. Against that sunny
City of L.A. once again tries to streamline permitting: latest effort would not benefit post-quake rebuilding. (Los Angeles, California; real estate development permits) (Special Report: Quarterly Real Estate)
Los Angeles Business Journal ; Is it really possible that the process for obtaining permits from the City of Los Angeles could be made less burdensome? There have been attempts in the past. Panels have met, recommendations have been made. But not much has changed. Nevertheless, L.A. Mayor Richard Riordan is giving permit
Leasing Activity.(two new real estate lease deals in Los Angeles area)(Brief Article)
Los Angeles Business Journal ; Law firm Bremer & Whyte LLP, which specializes in the defense of insurance companies and their insured, leased 6,933 square feet in the LNC Warner Center Complex in Woodland Hills. The Newport Beach-based lawyers moved 15 employees into the space last month. Tony Principe, executive vice president
Los Angeles Chapter of the Institute of Real Estate Management.(Real Estate)(Bill Wenger joins)(Brief article)
Los Angeles Business Journal ; Bill Wenger, regional vice president of Charles Dunn Co.'s Real Estate Management Services, has been appointed to president of the greater Los Angeles Chapter of the Institute of Real Estate Management.
Business Journal names real estate elite. (Los Angeles Business Journal)(Commercial Real Estate Who's Who)
Los Angeles Business Journal ; ... seeing demand for commercial space actually exceed supply in select marketplaces, certain local developers are making positive news again. It's at least enough to warrant their own category. This year's roster also features a handful of corporate real estate ...
Meanwhile, Los Angeles County Employees is searching for a real estate consultant, with the goal of making a selection by May.(The Grapevine)(Brief Article)
Real Estate Alert ; Meanwhile, Los Angeles County Employees is searching for a real estate consultant, with the goal of making a selection by May. Townsend Group currently has the assignment and is expected to compete for a renewal. Other probable competitors include Pension Consulting Alliance, Callan Associates,
The Los Angeles Chapter of the Institute of Real Estate Management.(Real Estate)(Brief Article)
Los Angeles Business Journal ; The Los Angeles Chapter of the Institute of Real Estate Management has named Sallie Shima Chen president. Chen is a principal at C&N Business Consultants.
Tough times hang around for developers, owners. (Los Angeles, California's real estate industry) (Year in Review 1992: Real Estate) (Industry Overview)
Los Angeles Business Journal ; ... industry professionals were wishfully anticipating better news in 1992. Unfortunately, as the year progressed, a dark ... high-profile office market that most visibly defined 1992's good news/bad news scenario. Leasing figures are a case in point. While aggregate ...