PLATINUM SPONSORS GOLD SPONSORS...2020/02/24 · On Feb. 18, we hosted one of the Los Angeles Business Journal’s biggest events: the Commercial Real Estate Awards. Locally, there

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CBIZ | MHM | Parker Brown | Swinerton Builders | Thompson Coburn LLP | Worthe Real Estate Group

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2nd & PCH | Bond Companies | Bridge Development Partners | Colliers International | DPR Construction | KPRS | MacFarlane Partners

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24 LOS ANGELES BUSINESS JOURNAL – CUSTOM CONTENT FEBRUARY 24, 2020

t h o m p s o n c o b u r n . c o m

Los Angeles | Chicago | St . Louis | Southern I l l inois | Washington, D.C

TOTAL COMMITMENT TO THE NEXT BIG STEP Thompson Coburn provides counsel to growing companies – from start-up to exit

Letter from the Publisher

The impact of new commercial real estate development and the operations of existing commercial properties on the national economy cannot be overstated. Nationally, this activity has grown to support 9.2 million American jobs and contribute $1.14 trillion to the U.S. gross domestic product in 2019, an increase from 8.3 million jobs and a contribution

of $1 trillion to GDP in 2018, according to NAIOP, the Commercial Real Estate Development Association. And nowhere is that more evident than in Los Angeles — and our constantly evolving skyline.

On Feb. 18, we hosted one of the Los Angeles Business Journal’s biggest events: the Commercial Real Estate Awards. Locally, there is much to celebrate — from the brokers who work tireless hours on multimillion-dollar deals to the general contractors, architects and developers who turn visions into reality. These are the professionals who are helping to make L.A. a global city and a leader in commercial real estate.

Hundreds of Los Angeles’ elite real estate professionals attended our annual event, which was held at the Westin Bonaventure Hotel and Suites. We recognized the biggest, best and most notable commercial real estate projects of 2019.

In our Commercial Real Estate Awards supplement, we review the event’s honorees. This impressive and talented group have made key contributions to some of the highest-profile developments in L.A. in the last year.

Prior to our awards dinner, we hosted a Commercial Real Estate Outlook and Trends Panel. Our outstanding panel of experts weighed in on the latest developments and how the L.A. market will be affected this year.

To our sponsors, panelists, and each of the developers, general contractors, architects and brokers involved in the trailblazing projects we honored this year, we salute you and thank you for your contributions to L.A.’s economy — and skyline.

Best regards,

Anna MagzanyanPublisher & CEO


FEBRUARY 24, 2020 LOS ANGELES BUSINESS JOURNAL 25

#1 CORPORATE ACCOUNTS MULTI-MARKET Matthew Hargrove

#1 DEBT & STRUCTURED FINANCE Brian Eisendrath

#1 INVESTMENT Darla Longo & Barbara Perrier

#1 INDUSTRIAL Art Rasmussen & David Norrie

#1 MULTIFAMILY Laurie Lustig-Bower

#1 RETAIL Justin Schultz

#1 VALUATION & ADVISORY SERVICES Sean Crosby

TOP DEBT & STRUCTURED FINANCE Brian Eisendrath

Val Achtemeier

Shahin Adeli

Gregory P. Grant

Jaspaul S. Kapoor

TOP MULTIFAMILYLaurie Lustig-Bower

Priscilla Nee

Bradford McCarthy

Eric Chen

Dean Zander

TOP VALUATION & ADVISORY SERVICESSean Crosby

Andrew Power

George Koiso

Robert Jacobson

Don T. Hirose

TOP OFFICE Matthew Hargrove

Jeffrey Pion

Clay Hammerstein

Stephen Bay

R. Todd Doney

Anthony Gatti

Jacob Bobek

Blake Mirkin

Matthew Heyn

Michelle Esquivel-Hall

Joel Frank

John Zanetos

TOP INDUSTRIALArt Rasmussen & David Norrie

Craig Peters

Bennett Robinson

Jay Dick

Kenji Sakai

Daniel De La Paz

Tres Reid

John Schumacher& Bret Quinlan

David Consani

Erik Wanland

TOP RETAILJustin Schultz

Timothy Bower

Jamie Brooks

Geoffrey Martin

Andrew Turf

Brandon Beauchemin

TOP INVESTMENTDarla Longo & Barbara Perrier

Nick Walker

Todd Tydlaska& Sean Sullivan

Eloy Covarrubias

Fred Aframian

Joseph M. Werdein

Alex Kozakov & Patrick Wade

Michael Longo

We consistently deliver outcomes that drive business and bottom-line performance for every client we proudly serve. We acknowledge and thank our top producers for setting the bar and for being exemplary in the industry.

@CBRESoCal | cbre.us/pacificsouthwest

Andrew D. RatnerDowntown LA +1 213 613 3320

Scott ChalmersWest LA+1 310 550 2697

Robert PeddicordSouth Bay+1 213 613 3346

Chalvis EvansLA North+1 818 907 4635

Ian BrittonInland Empire+1 909 418 2002

OUR EXPERTISE. YOUR BOTTOM LINE.

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PANELISTS

This year’s Commercial Real Estate Awards once again included a roundtable of experts. This outlook and trends panel for the commercial real estate market was a highlight of the event. The

outstanding panel of professionals shared insights, described the current landscape, forecasted the immediate future and weighed in on the latest developments and how the LA market likely will be impacted this year. They also fielded questions from our enthusiastic audience.

Attendees had the opportunity to learn from these leading lights of commercial real estate.

2020 Los Angeles Business Journal Commercial Real Estate Outlook and Trends Panel LARRY BOND

Co-founder & Chairman Bond Companies

Larry Bond is co-founder and chairman of Bond Companies, with offices in Los Angeles and Chicago. Since

1987, the company has developed, financed and acquired more than $4 billion in real estate projects across the U.S. The Los Angeles Business Journal previously honored Bond Companies as Residential Developer of the Year for its mixed-use Sunset + Vine project. Bond is founder and former chair of Young Presidents Organization Angeleno Gold, and a former chair of YPO Malibu. He is a past board member of the LA Business Council, Hollywood Chamber of Commerce, Junior Achievement of Southern California, Los Angeles Neighborhood Land Trust and Homeland Security Advisory Council.

DANIEL CAMIN OCLA Special Projects Division

Swinerton

Daniel Camin is a project executive in the OCLA Special Projects Division of Swinerton. A graduate

of USC, Camin started his career with Swinerton in 2008. He was a key component of Swinerton’s education and aviation markets, delivering projects for LAUSD, LACCD, LAWA, Westfield and Delta Air Lines. He left Swinerton in 2015 to take on a leadership role within the Westfield Design and Construction department and returned to Swinerton in 2018 to take on a leadership role in the growing Special Projects Division. He is focused on preparing his team for the division’s continued growth – which grew nearly 40% in 2019.

JAMES R. KRUSE Chief Executive Officer

DPI RetailModerator

James Kruse joined DPI in 2018 and serves as its chief executive officer. Prior to joining DPI, Kruse

was the senior managing director for CBRE’s Los Angeles South Region and directed all transactional business and operations for the Downtown Los Angeles, Beverly Hills/Century City, South Bay, and Los Angeles Central offices. Throughout his 30-year career in the Southern California commercial real estate market, Kruse has been a top-producing broker, successful brokerage company owner, and leading manager in one of the world’s most active markets. Kruse holds a Bachelor of Arts from University of California Irvine and is an active member of International Council of Shopping Centers (ICSC).

KENNETH TINDALLDirector

CBIZ | MHM

Ken Tindall is a director in the Los Angeles office of CBIZ and has more than 20 years of

experience in public accounting and tax consulting. Tindall provides tax and business consulting services to companies in the manufacturing, real estate, entertainment and professional services industries. His main client focus is in the area of closely held businesses and pass-through entities. His expertise emphasizes business and personal income tax minimization and comprehensive planning for owners and their families. He is a Certified Public Accountant in the state of California, and received his Bachelor of Science degree in Accounting from San Diego State University.

JASON GRINNELLPartner

Thompson Coburn LLP

Jason Grinnell, who is a partner at Thompson Coburn, uses his years of experience in leading real

estate transactions and financings to navigate his clients through the Los Angeles real estate market. Grinnell handles acquisitions, dispositions and leasing across multiple asset classes, with particularly deep experience in the retail sector. He represents several global clients in office and retail leasing matters.



NEWMARK KNIGHT FRANKCONGRATULATES

PHIL BRODKIN EVP, Managing Director • 213.596.2270 • [email protected] S Flower Street, Suite 2500 | Los Angeles, CA 90017

North America • Latin America • Europe • Asia-Pacific • Africa • Middle East ngkf.com

LABJ'S BEST INDUSTRIAL SALE

LABJ'S BEST OFFICE SALE

KEVIN SHANNONCo-Head of U.S. Capital Markets

[email protected]

LABJ'S BEST RETAIL SALE

BILL BAUMAN KYLE MILLER Vice Chairman

[email protected]

Executive Managing Director213.298.3597

[email protected]

KEVIN SHANNONCo-Head of U.S. Capital Markets

[email protected]

BRET HARDYExecutive Managing Director

[email protected]

JIM LINNExecutive Managing Director

[email protected]



P ark Fifth is a 24-story, cast-in-place concrete apart-ment building that is located adjacent to the historical Pershing Square in downtown Los Angeles. The

high-rise luxury building features 347 high-end apartment units, 120 parking stalls and 5,300 square feet of ground floor retail. Park Fifth features a wide range of premium amenities, including a rooftop deck featuring 360-degree, panoramic views of downtown Los Angeles; infinity-edge pool with cabanas and hot tub; clubhouse with a bar, kitchen and pool table; state-of-the-art fitness center; onsite resident concierge services and a business center.

PARK FIFTH Location: 427 W 5th St., Los AngelesDeveloper: MacFarlane PartnersContractor: SuffolkArchitect: Ankrom Moisan Architects

SILVER AWARD

RESIDENCES @ THE EDITIONLocation: 9040 Sunset Blvd, West HollywoodDeveloper: WitkoffContractor: PankowArchitect: HKS Architects

GOLD AWARD

F rom its dramatic setting at the intersection of Sunset Boule-vard and Doheny Drive, The

Residences at the West Hollywood EDITION distills the best of Los Angeles into a singularly compelling location. The stunning development features 20 luxury residences, more than 5,200 square feet of meeting and event space, a signature restau-rant, a rooftop pool, and a wealth of health and fitness amenities. Developed by Witkoff in partnership with New Valley, with concepts and creative direction by Ian Schrager and architectural and interior design by John Pawson, The Residences are inspired by the climate, golden light, and unique spirit of Los Angeles. The Residences are comprised of one- to four-bedroom homes com-prising 1,649 to 6,415 square feet of interior living space, and panoramic views of the region. Each residence is highlighted by John Pawson’s authentic design touches, from inte-rior doors with flush frames to sliding solar shading screens and aluminum- framed, sliding glass, full-height doors and windows; Molteni kitch-ens with teak cabinets and Vola-brushed chrome fixtures to en-suite master bathrooms and powder rooms.

FINALISTS

ALISO APARTMENTS

THE CURVE AT WEST LA

LA PLAZA VILLAGE

MULTI-FAMILY



MHM (Mayer Hoffman McCann P.C.) is an independent CPA firm that provides audit, review and a�est services, and works closely with CBIZ, a business consul�ng, tax and financial services provider. CBIZ and MHM are members of Kreston Interna�onal Limited, a global network of independent accoun�ng firms.

]Experience How Everything We Do Has A Single Focus - Your Success[

We are one of the leading providers of accoun�ng, tax and advisory services to Southern California’s real estate industry.

For more than 35 years we have represented some of Southern California’s largest property developers, managers, and individual property investors and we have worked with some of the most well-known lenders, investors, buyers, and sellers.

With our years of experience and industry exper�se, we can help assemble the team you need to make your project a success.

RanRanked by Accounting Today, INSIDE Public Accounting and Public Accounting Report as one of the Top Ten accoun�ng providers na�onwide, we have the depth of resources ready and available to address any client need that may arise.

ACCOUNTING | TAX | ADVISORYwww.cbiz.com | www.mhmcpa.comTel: 310.268.2000

Contact: Nick Pyzow at [email protected]



T he new Lundquist Institute for Biomedical Innovation in Los Angeles is one of the most advanced research buildings in the United States. Designed to meet

a variety of competing yet interconnected needs, the new building marries architecture and interiors to create a stunning home for the Institute and its 100+ distinguished research groups. The building is the centerpiece of the organization’s 10.25-acre campus which itself is located within the 72-acre Harbor-UCLA Medical Center campus.

LUNDQUIST INSTITUTE FOR BIOMEDICAL INNOVATIONLocation: 1124 W Carson Street, TorranceContractor: DPR ConstructionArchitect: ZGF

SILVER AWARD

DOWNTOWN WEST MEDICALLocation: 1120-1122 W. Washington Blvd., Los Angeles CA 90015Developer: Inception Property GroupContractor: Oltmans Construction CompanyArchitect: Ware Malcomb

GOLD AWARD

T he completion of the 300,000 square foot Downtown West Medical healthcare campus

brings Class-A new outpatient ambu-latory care and supporting health-care to the historically underserved DTLA/Pico-Union/Westlake com-munity. Anchored by HealthCare Partners, which is providing a range of primary, specialty and urgent care, Downtown West Medical’s scope includes a new, 60,000 square foot, four-story healthcare facility at 1120 W. Washington Blvd. The medical office building is connected to a new 190,000 square foot, nine-level multi-tenant parking structure con-structed concurrently with the med-ical office building. Additionally, a plaza was designed and concurrently constructed to tie in the healthcare facility, the parking structure and an existing 50,000 square foot office building, which has been concur-rently remodeled to compliment the healthcare facility, and which is being backfilled with smaller medi-cal tenants (including LabCorp) to create a “medical mall.” Downtown West Medical has become the largest independent outpatient healthcare campus developed in the greater Downtown area.

FINALISTS

CEDARS-SINAI LAB

CEDARS-SINAI URGENT CARE & DERMATOLOGY

TORRANCE MEMORIAL

MEDICAL


FEBRUARY 24, 2020 CUSTOM CONTENT - LOS ANGELES BUSINESS JOURNAL 31

EXCEPTIONAL PROJECT EXPERIENCE FOR OPTIMIZED SPACES

Anita May Rosenstein Campus

1801 Century Park East

ENR CA #1General Contractor

3,500+Experts Strong

100%Employee Owned

Corgan Culver City Office

Cornerstone OnDemand

Second Home Hollywood

Ten Thousand

United Airlines Polaris Lounge at LAX

Metro Bike Hub

PAST WINNING PROJECTS

GOLD AWARD

Ten Thousand

GOLD AWARD SILVER AWARD

Metro Bike Hub

SILVER AWARD



W arner Music Group (WMG) relocated to Down-town Los Angeles from its deeply worn stomping grounds in Burbank with two clear motives: to

comfortably house and encourage collaboration among their West Coast division and to position themselves at the forefront of a larger cultural revolution in the Arts District. WMG’s seven subdivisions now reside within the 300,000 square foot floorplan, and each is aesthetically distinguishable from the next. Maintaining the open layout of the original building while upholding unified sightlines facilitates cross-pollination of creativity.

WARNER MUSIC GROUP Location: 777 S. Santa Fe Ave., Los AngelesDeveloper: Gardiner & TheobaldContractor: Howard Building CorporationArchitect: Rockwell Group / Rockefeller Partners Architect

SILVERAWARD

CONVENELocation: 333 South Grand Avenue, Los AngelesContractor: Sierra Pacific ConstructorsArchitect: HOK

GOLDAWARD

T he new Los Angeles Convene space provides an innovative platform that offers access to

a growing network of premium meeting and event spaces, flexible workspaces, hospitality services, and curated experiences for the user. The goal was to create a truly unique guest experience, and enigmatic social hub in DTLA that would attract international and local busi-nesspeople. The rich history of the surrounding downtown districts of Los Angeles was the key inspiration and starting point for the design nar-rative. The architectural backdrop of downtown is a layered tapestry influenced by several decades, fusing Art Deco and Modernism, while an inner-city manufacturing industry continues to power these neighbor-hoods.The design team looked to the surrounding neighborhoods and districts to pull inspiration from and to develop an innovative design narrative. The design adopts these concepts in an updated and con-temporary way, bringing a familiar scale of space, and a clean, crisp base palette that ties the space together. Contextual material transitions and details all nod to past eras and cre-ate a landscape that becomes more residential in scale with an infusion of eclectic modernism that connects generations of travelers and locals to a thoughtful and social destination.

FINALISTS

DOCMAGIC HEADQUARTERS

EY LA

ORACLE SANTA MONICA

TENANT IMPROVEMENT


TOTAL ACQUIRED 2,087,660 SF

2019 WAS A BUSY YEAR

TOTAL LEASED 2,123,430 SF

3880 N. Mission Rd.

Lincoln Heights, CA

1,541,028 SF

Tenant: Warner Bros.

Architect: Gehry Partners

15000 Aviation Blvd.

Hawthorne, CA

206,946 SF

4001 W. Olive Ave.

Burbank, CA

152,618 SF

3903 W. Olive Ave.

Burbank, CA

128,110 SF

111 N. Hollywood Way

Burbank, CA

58,958 SF

The Pointe

The Burbank Portfolio 987,932 SFtheburbankportfolio.com

CBRE Todd Doney 213 613 3330, Doug Marlow 818 502 6707

Central Park 93,424 SF Feigco, Liquid Music, Dan Angel,

Mucho Mas Media, Mandinka/Juvee, TalentWorks,

Twentieth Century Fox, On the Day Prod., Warner Bros.

Pinnacle 1 241,573 SF Warner Bros., Olive & Thyme,

Sony/Days of Our Lives, CoreBTS

Pinnacle II 230,000 SF Warner Bros.

Media Studios 215,008 SF DNEG/Prime Focus,

Farmers Insurance Group, Insomniac, Jam City,

AT&T Services/Ellation , Jones Lang LaSalle, BluFocus,

Twentieth Century Fox

The Tower 188,821 SF DNEG/Prime Focus, Warner Horizon,

Zest Financial, Rainbow Digital, Stalwart Films

The Pointe 19,106 SF CBS Interactive

The Burbank Studios 334,498 SFtheburbankstudios.com

JLL Carl Muhlstein 213 239 6055

Hayley Blockley 213 239 6054

Warner Bros. Television, Warner Bros. Animation,

Legendary, Netflix , Corday Productions, Giallo, Nickelodeon,

Warner Bros. Entertainment , Newline Cinema

Warner Media 801,000 SF

100 Wilshire Blvd.

Santa Monica, CA

310 393 9653

worthe.com



T he Santa Monica Proper Hotel combines the adaptive reuse of a designated Landmark Building with a new contemporary addition flanked by curvaceous forms

of concrete and glass. The Landmark Building built in 1928 was originally designed as a medical building and converted into commercial office space in the 1950s. Currently, it has been rehabilitated and combined with a contemporary addition to become a luxury hotel includ-ing street-level retail and restaurants.

SANTA MONICA PROPER HOTELLocation: 3330 Ocean Park Blvd/700 Wilshire Blvd, Santa MonicaDeveloper: Santa Monica Proper JV, LLC, c/o The KOR GroupContractor: Morley BuildersArchitect: Howard Laks Architects

SILVER AWARD

FOUR SEASONS HOTEL WESTLAKE VILLAGELocation: 2 Dole Dr., Westlake VillageContractor: Shawmut Design and ConstructionArchitect: Brooks + Scarpa; BAMO; EDG Design

GOLDAWARD

T he first phase of Four Seasons Hotel Westlake Village’s multi-million-dollar transformation,

the remodel of its three restaurants, was inspired by the tranquil elements of Southern California’s coast and the classic era of Old Hollywood glam. Coin & Candor, an all-new restaurant for the luxury hotel, cre-ates a neighborhood gathering place with both indoor and outdoor space. Its design combines natural textures, bright colors and fresh tones with mid-century design.

Coin & Candor’s name pays homage to the humble beginnings and early rise to success of owner David Murdock, as does Prosperous Penny. Previously a lobby area, the space was converted to a lounge and serves as another gathering point, attracting both guests and locals alike. The hotel’s Japanese restau-rant, Onyx, underwent a refresh with California influences as well. Shawmut Design and Construction partnered with Brooks + Scarpa Architects, BAMO, and EDG on the restaurant remodels, which the team completed in just over three months.

FINALISTS

FORMOSA CAFÉ

JOEY DTLA

SILVER LAKE POOL & INN

HOSPITALITY


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B ridge acquired The Box Yard in January of 2019 with the vision to redevelop the campus into a unique, destination industrial asset within Los Angeles’ Arts

District. To achieve this vision Bridge has spent ten months and invested approximately $4 million in signifi-cantly enhancing both the exterior and interior. Interior improvements include upgrading office finishes including new office lighting and staircases as well as enhanced warehouse finishes such as installing new bright skylights, LED lighting and warehouse air circulation fans. Exterior improvements include new paint, enhanced wayfinding signage, upgraded landscaping and enhanced site lighting.

THE BOX YARDLocation: 2445 E 12th St, Los AngelesDeveloper: Bridge Development Partners, LLCContractor: J Squared General ContractorsArchitect: Herdman Architecture & Design, Inc.

SILVER AWARD

QUIXOTE NORTH VALLEY STUDIOSLocation: 10445 Glen Oaks Blvd, PacoimaDeveloper: Xebec Realty PartnersContractor: Xebec Building CompanyArchitect: HPA Architecture, Inc.

GOLD AWARD

T his was a first of its kind project for Pacoima, a working class community with a well-located

but aging industrial corridor in the Northeast San Fernando Valley. Initially slated to be a vanilla tilt-up distribution warehouse, the project was “rescued” at the last minute by Quixote Studios and transformed into a 10-acre full-service Holly-wood-style production campus with 5 sound stages, a mill, 20,000 square feet of creative office space, and significant off-street parking. By working within the constraints of the already-approved plans for a new distribution warehouse, design firm HPA was able to make significant alterations without triggering a new review process. With a soaring glass facade and 40’ high walls, the main building dramatically elevates the quality of construction in the area. Additionally, Quixote took over an adjacent abandoned warehouse that was a magnet for gang activity and converted it to a mill to support the stages.

FINALIST

ALAMEDA BUSINESS CENTER

INDUSTRIAL





A t the center point of the creative hub of Culver City, where Washington and Culver Blvd meet, joining it all together is the Culver Steps. The mixed-use

development brings a point of connection and architec-tural centerpiece as the grand staircase, and open plaza with belts of grass and trees link together old and new, commuter and resident, joining the historically significant with the future. Located on a former city-owned parking lot, the three-acre site incorporates a 75,000 square foot creative office occupied by Amazon Studios, 40,000 square feet of retail shops and restaurants.

THE CULVER STEPSLocation: 9300 Culver Boulevard, Culver CityDeveloper: Hackman Capital PartnersContractor: KPRS ConstructionArchitect: Ehrlich Yanai Rhee Chaney Architects

SILVER AWARD

LOS ANGELES LGBT CENTER, ANITA MAY ROSENSTEIN CAMPUSLocation: 1118 N. McCadden Place, Los AngelesDeveloper: Los Angeles LGBT CenterContractor: Swinerton BuildersArchitect: KFA Architecture

GOLD AWARD

T he new Los Angeles LGBT Cen-ter, Anita May Rosenstein Cam-pus — located on McCadden

Place and Santa Monica Boulevard — is a new typology for communi-ty-based urban development that includes diverse social and affordable housing programs. The porous, pedestrian-oriented urban campus features a public plaza and a series of courtyards that unify various social services, cultural and institutional programs, and the Center’s existing neighbor facility, the Village at Ed Gould Plaza. The result is a new, integrated platform for living as an intergenerational LGBTQ commu-nity. The Center currently serves more LGBTQ people than any other organization in the world, welcom-ing over 42,000 client visits each month. The new campus will enable a dramatic expansion of the Center’s intergenerational services, including 100 beds for homeless youth, a new Senior Community Center and Youth Academy, as well as expanded programming, administrative space, a retail space, cultural events space, and more.

FINALISTS

METROPOLIS PHASE II

NEXT ON LEX

PALISADES VILLAGE

MIXED-USE


FEBRUARY 24, 2020 CUSTOM CONTENT – LOS ANGELES BUSINESS JOURNAL 39

C ompleted in September 2019, Second Home Hollywood was developed by Bond Companies

as a one-of-a-kind collaboration involving cutting-edge construction and daring, forward-looking design creating LA’s most innovative co-working office campus. Located in East Hollywood, a blighted area that has long struggled to attract investment capital and the Hol-lywood creative community, the property eschewed traditional devel-opment by creating the “densest urban forest” on the west coast, a biophilic sanctuary with over 6,500 plants and trees carefully curated on a 2-acre site. The site’s emphasis on nature enhances the local eco-system. The development consists of 60 lemon-yellow roofed office pods, a full-service restaurant, a 200-seat auditorium, a bookstore and a two-story building by one of LA’s most famous architects, Paul Wil-liams. Each oval office space is lined with custom-designed outward-fac-ing built-in desks underneath a yellow steel-braced ceiling enabling 100% of the occupants to enjoy the lush greenery through the transpar-ency of the acrylic wall system.

SECOND HOME HOLLYWOODLocation: 1370 N St Andrews Place, Los AngelesDeveloper: Bond Companies/Klaff Realty, LPContractor: SwinertonArchitect: SelgasCano/Omgivning

GOLDAWARD

FINALISTS

T he Greenhouse Innovation Center was created by Herbalife and built by Kamus + Keller, as a collabo-rative space for teams to come together to brainstorm

ideas, work on strategic projects and solve some of the company’s biggest problems in a comfortable and open environment. It was named The Greenhouse because it is a place where employees can collaborate to plant seeds of the future. Herbalife Nutrition is committed to innova-tion and The Greenhouse is a physical representation of that commitment.

HERBALIFE INNOVATION CENTERLocation: Herbalife 950 190th Street Torrance Contractor: ECC Architect: Kamus + Keller Interiors Architecture

SILVER AWARD

FINALISTS

JOHN WELLS PRODUCTIONS

PAUL HASTINGS LLP – CENTURY CITY

PICO OFFICES

OFFICE



T he Long Beach Civic Center (LBCC), a multi-faceted development in the heart of downtown Long Beach, encompasses a new city hall and civic chambers, a

headquarters for the Port of Long Beach, and a public library. The project replaced maintenance-plagued, seis-mically-unsafe structures with new civic buildings that play a vital role in the city’s efforts to revitalize down-town Long Beach without added cost to taxpayers. The state-of-the-art Civic Center development was delivered under an innovative public-private partnership, utilizing a design-build-finance-operate-maintain contract.

LONG BEACH CIVIC CENTERLocation: 411 W Ocean Blvd, Long BeachDeveloper: Plenary Properties Long Beach, LLCContractor: Clark Construction Group — California, LPArchitect: Skidmore, Owings & Merrill, LLP

SILVER AWARD

THE MUSIC CENTER PLAZALocation: 135 N Grand Ave, Los AngelesDeveloper: The Music Center / Performing Arts Center of LA CountyContractor: MATT ConstructionArchitect: RCH Studios

GOLD AWARD

T he mission with this project was not just to resurrect, but to trans-form the central circulation area

into a “plaza for all,” an outdoor per-formance venue and pedestrian-cen-tered nexus for meaningful artistic engagement. Revitalizing a historic sector of downtown Los Angeles alongside other nearby restoration efforts has created a vibrant hub for visitors. The MCP’s noteworthy municipal and artistic neighbors include the Mark Taper Forum, the Ahmanson Theatre, the Walt Dis-ney Concert Hall, Los Angeles City Hall and the Stanley Mosk Court-house. The renovated Plaza has become a public square where people can connect over food and art and attend free and low-cost activities and events. The design pays homage to MCP’s origins while updating it to meet the needs of its vibrant, diverse 21st-century community. Major infrastructure improvements include enhanced access, such as ADA seating in the bar areas and ADA-accessible entry points. Also constructed are five new buildings: the Lisa Specht Welcome Center, the Mullin Wine Bar, Go Get Em Tiger, Abernethy’s restaurant and a dedicated public restroom building.

FINALIST

ROBERT FROST AUDITORIUM

PUBLIC



A n Art Deco masterpiece has come back to life in down-town’s Historic Core. The

Trust Building is the area’s most significant revitalized structure, now serving as a mixed-use building. It has transformed the old one with an assertive new intervention. The 10-story building relaunched after an estimated $40-million makeover complete with modern earthquake safety standards and restored original features, such as gilded ceiling dec-orations that were painted over in late 20th century renovations. The Trust Building has been retrofitted to appeal to modern creative – while retaining its historic character and architectural details – offering newly enhanced retail spaces, a 4,000 sqare foot restaurant space, rooftop with city skyline views, as well as expan-sive creative offices amid across its historic 11 floors.

THE TRUST BUILDINGLocation: 433 Spring Street, Los AngelesDeveloper: Rising Realty PartnersContractor: Morley BuildersArchitect: Gensler/Architectural Resources Group

GOLD AWARD

FINALIST

ROBERT FROST AUDITORIUM

C onverted to creative office, this project is sited on a corner where Beverly Hills’ commercial office district to the north meets a multi-family residential district

to the east. The project transforms the facades into a set of contextual responses to these differing adjacent uses while creating layers of transparency through the space from the street. At the corner, the existing large glass cyl-inder is replaced with an outdoor terrace re-envisioning what was once an internalized object into an externalized outdoor space. Furthermore, the ground floor of the north facade is recessed to create a Front Porch entry that also serves as a welcoming community space.

THE POSTLocation: 325 Maple Drive, Beverly HillsDeveloper: Worthe Real Estate GroupContractor: Krismar Construction Co., Inc.Architect: Gensler

SILVER AWARD

FINALISTS

COLORADO CAMPUS

ONE CULVER

PALIHOTEL CULVER CITY

REDEVELOPMENT



H ouse of Bijan — one of the oldest and most iconic luxury boutiques on Rodeo Drive — relocated just north of its original home, first opened in 1976. The

new location — with more space to house the luxury brand’s products along with its headquarters — honors the longstanding Bijan vision and tradition while creat-ing an updated and more contemporary space. Both the facade and interior walls boast House of Bijan’s trademark yellow, and iconic heritage elements from the original store — the entry door, grand chandelier, and antique armoires — were incorporated into the new location.

HOUSE OF BIJANLocation: 443 N Rodeo Dr, Beverly HillsContractor: Shawmut Design and ConstructionArchitect: Pizzulli Associates, Inc.

SILVER AWARD

2ND & PCHLocation: 6400 E. Pacific Coast Highway Long BeachDeveloper: CenterCal Properties, LLCContractor: W.E. O’Neil Construction Co. of CaliforniaArchitect: AO

GOLD AWARD

S et on 11 acres, 2nd & PCH is a 220,000 square foot of open-air retail and dining destination

overlooking the Long Beach Marina. Previously, this development used to sit an aging SeaPort Marina Hotel. This new retail lifestyle center is now open and inviting. It is decorated with curated art by Jasper Wong of Pow! Wow! The resort-like seating areas make for a relaxing experience. The center is anchored by 45,000 square-foot Whole Foods. Other tenants include Shake Shack, The Bungalow, Sephora, Free People, The Shade Store and Barry’s Boot-camp. There are two levels of shops and plenty of parking. Some energy efficiency components include:• Energy-efficient windows,

storefront glazing, featuring dual-paned low-e glass;

• Energy-efficient instantaneous water heaters. No water heater storage tanks on the project;

• Large photovoltaic panels that provided alternative energy sources as well as shaded parking on the rooftop of our parking structure;

• High energy efficient rated exterior facade that included thermal isolation break on the perimeter of the building; and

• 100% LED lighting and com-pact fluorescent lighting.

FINALISTS

EVERLANE

FREEDOM PLAZA

RETAIL



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BROKER OF THE YEAR

Fostering Communities and Building L.A.’s Future –One Award-Winning, Sustainable & Innovative Project at a Time

Bond Companies11601 Wilshire Blvd., Ste. 2060

Los Angeles, CA 90025310.395.4250

www.bondcompanies.com

GOLD AWARD

During his 35 years with CBRE, Vice Chairman Jeff Pion has provided his clients — which include many of the household names in technology, media and entertainment — with leading-edge real estate services, completing more than 3,000 sale and lease transactions

valued in excess of $9 billion on more than 60 million square feet of real estate. His mission is simple: to enable his clients — owners, occupiers, investors and developers — to make the best real estate decisions possible by providing strategic consulting and transaction services that enhance value, reduce cost and manage risk. Given his unmatched expertise, Pion has consistently set performance records very few real estate professionals in Los Angeles can claim.

Throughout 2019, Pion helped facilitate more than 4.2 million square feet in office sales and leasing transactions, including iconic properties and well-known companies, including those of the so-called FAANG group. Notable highlights in 2019 include HBO’s move from its longtime corporate offices in Santa Monica to Culver City’s Ivy Station mixed-use project, a $350 million project that will include apartments, restaurants and shops and is scheduled to open in 2021.

JEFF PION CBRE



BROKER TEAM OF THE YEAR

GOLD AWARD

Jonathan Larsen and Chandler Larsen, a father and son team, have completed in excess of $2.5 billion in transactions over the past five years. In 2019, they completed 125 leasing and sales transactions valued in excess of $500 million making them the top producers for Avison

Young Southern California and Jonathan the top Tenant Producer globally for Avison Young. These transactions have not only been within Los Angeles County, but across the United States with some high profile, long-term occupier clients including Lewis Brisbois, Wells Fargo Bank, BDO, Ervin, Cohen & Jessup, The Posse Foundation and AON. The Larsens pride themselves in providing the top client representation service and navigate the internal resources provided to the client to handle all real estate needs in a “one-stop” service model.

A significant Los Angeles transaction was on behalf of Ervin, Cohen & Jessup at 9401 Wilshire Boulevard in Beverly Hills. The 15-year, 32,500-foot law firm office lease involved the relocation to the top floors of the building, while maintaining prominent building top signage. The transaction was valued in excess of $40 million.

CHANDLER LARSEN Avison Young

JONATHAN LARSEN Avison Young



when first-class development, design and construction converge

2nd street and pacific coast highway, long beach, california2ndandpch.com

A New Landmark is Born

GOLD AWARD

Marin Koper is a licensed sales associate in Kennedy Wilson’s L.A. brokerage division. She first came to Kennedy Wilson as a summer intern in 2017 and stayed on part-time during her final year while studying at USC’s Price School of Public Policy. She graduated in

2018 with a B.S. degree in Real Estate Development. As an urban retail leasing expert with 23 current listings across Greater Los Angeles, Koper completed her first full year of brokerage in 2019 with 14 transactions valued at $8,132,088. In addition to her brokerage work, she was an active member of the International Council of Shopping Centers’ NextGen group where she contributed to several networking events. She is also an active member of the USC Alumni Association.

Among the highlights from Koper’s 2019 transactions include the pre-leasing at Millennium Santa Monica. Representing developer Dinerstein, Koper identified popular Beverly Hills eatery Chaumont Bakery & Cafe as an ideal tenant for Millennium Santa Monica, a new mixed-use development on Colorado Ave. Chaumont signed on to the project in early 2019 to launch is second location, well in advance of the development’s scheduled opening in late 2020.

MARIN KOPER Kennedy Wilson

ROOKIE OF THE YEAR



I n June 2019, Bret Hardy, Jim Linn and Kevin Shannon, in conjunction with the Newmark local leasing professional,

completed the $230 million sale of a 90-acre industrial manufacturing plant located at 2400-2401 East Wardlow Road in Long Beach. The seller was the Boeing Company and the buyer was Goodman Development. For more than two decades, Boeing manufactured the C-17 Globemaster cargo planes at the plant, which ceased operations in 2015. Goodman has plans to rehabilitate and redevelop this Long Beach Airport-adjacent site into a mixed-use project, to include a large industrial business park, with a focal point of creating jobs and industry for the cities of Long Beach and Lakewood.

Vital Statistics Property Address: 2400-2401 East Wardlow Road, Long BeachSquare Footage: 90 AcresDeal Value: $230 million

KEVIN SHANNONNewmark Knight Frank

BRET HARDYNewmark Knight Frank

JIM LINNNewmark Knight Frank

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COMMERCIAL REAL ESTATE

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BEST INDUSTRIAL SALE

GOLD AWARD



BEST INDUSTRIAL SALE

C BRE’s Darla Longo, Barbara Perrier, Rebecca Perlmutter, Eric Cox, Brett Hartzell, Val Achtemeier and Matt Schmidt recently completed the sale

of Los Alamitos Corporate Center, a 685,000-square foot industrial business park, for $128.5 million. CBRE represented the seller, Northwestern Mutual. Alere, a pension fund adviser, was the buyer. Located at 4332-4478 Cerritos Avenue, 10541-10681 Calle Lee and 4392-4465 Corporate Center Drive, Los Alamitos Corporate Center is comprised of 17 buildings on a 36.9-acre lot. The 685,588 square-foot industrial complex is 98 percent leased and is currently home to 82 tenants with strong historical occupancy. The buildings range from 11,788 square-feet to 134,186 square-feet, providing a diverse range of suite sizes to capture a variety of tenant uses.

Vital Statistics Property Address: Los Alamitos Corporate CenterSquare Footage: 685,000 Deal Value: $128.5 million

SILVER AWARD

MATT SCHMIDT CBRE

VAL ACHTEMEIER CBRE

BRETT HARTZELLCBRE

DARLA LONGO CBRE

BARBARA PERRIERCBRE

REBECCA PERLMUTTER CBRE

ERIC COXCBRE


T he JLL team of Ruben Goodsell, Mike McCrary and Peter McWilliams represented Prudential Real Estate and Panattoni

Development Company on a 10-year lease of a 1,264,102 square foot property in Rialto to XPO Logistics, one of the largest third party logistics companies in the world.

Vital Statistics Property Address: 3520 S. Cactus Avenue, RialtoSquare Footage: 1,264,102

RUBEN GOODSELLJLL

MIKE MCCRARYJLL

PETER MCWILLIAMSJLL


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OrangeCounty

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Los Angeles County

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BEST INDUSTRIAL LEASE

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ERIC COXCBRE

GOLD AWARD


BEST INDUSTRIAL LEASE


Park Fifth is proud to be honored with the Silver Award for Multi-Family Property by the Los Angeles Business Journal

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Los Angeles Business Journal 2-20 PRINT.indd 1 2/20/20 12:51 PM

C BRE’s Rick McGeagh, Bret Quinlan and John Schumaher facilitated a 1.1 million square foot industrial lease at CenterPoint SoCal

Logistics Center in Buena Park. The property was entirely leased by a third-party logistics company, Unis Co. The site was vacated earlier this year by J.C. Penney Co., which long used the location as a distribution site. The CBRE team represented the landlord, CenterPoint Properties, in the deal. The site will be primarily used for retail and e-commerce distribution.

Vital StatisticsProperty Address: Along Valley View Drive in Buena ParkSquare Footage: 1.1 million

RICK MCGEAGHCBRE

BRET QUINLAN CBRE

JOHN SCHUMACHER CBRE

SILVER AWARD



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T he client needed an automotive facility. With no suitable

location in the San Fernando Valley and a lack of inventory, the next step was to find a development site.Yair Haimoff and his team at Spectrum located the site and assisted the client with the process and they are in the process of developing the site to accommodate their business.

BEST LAND SALE

SILVER AWARD

C BRE’s Laurie Lustig-Bower and Kadie Presley Wilson arranged the sale of a development site at the intersection of

Santa Monica Blvd. and Federal Ave. in West Los Angeles to Jamison Properties for $16 million. Lustig-Bower and Presley Wilson represented the seller, a family partnership of local, private real estate investors and owner and operator of the Blue Wave Hand Car Wash, currently located on the site. The company will lease back the property while the buyer pursues entitlements. The 0.65-acre property is located at 11600 Santa Monica Blvd and suitable for approximately 100 apartments, including affordable housing units. While the property also qualifies for Tier 1 TOC, the buyer did not elect to utilize this program.

Vital Statistics Property Address: 11600 Santa Monica BlvdSquare Footage: 0.65-AcresDeal Value: $16 million

GOLD AWARD

LAURIE LUSTIG-BOWERCBRE

Vital Statistics Property Address: 18438-18440 Bryant St., NorthridgeSquare Footage: 13,939Deal Value: $1,490,000 YAIR HAIMOFF

Spectrum Commercial Real Estate

KADIE PRESLEY WILSON CBRE



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BEST MEDICAL SALE

Y air Haimoff and Matt Sreden of Spectrum Commercial Real

Estate led the lease on this unique property. First of all, the property was very hard to come by as it is located adjacent to the Dignity Health Northridge Hospital. Lack of inventory made the property very desirable. The team had multiple offers and interest in the property. Building specs also made this transaction unique. The ultimate buyer almost lost the transaction to another investment firm. Timing was very critical.

SILVER AWARD

C BRE’s Angie Weber and Dana Nialis helped facilitate the $85 million sale of Third Street Medical Center, a

147,000-square-foot medical office building, located at 2100 West 3rd Street in Los Angeles.

Vital Statistics Property Address: 2100 W. 3rd St., Los AngelesSquare Footage: 147,000Deal Value: $85 million

GOLD AWARD

ANGIE WEBER CBRE

DANA NIALIS CBRE

Vital Statistics Property Address: 18433 Roscoe Blvd, NorthridgeSquare Footage: 30,353Deal Value: $11,650,000 YAIR HAIMOFF

Spectrum Commercial Real Estate

MATT SREDENSpectrum Commercial Real Estate



BEST MEDICAL LEASE

C BRE’s Angie Weber and Dana Nialis facilitated the 11,212-square-foot medical lease at 2100 W. 3rd St. in Los Angeles,

known as Third Street Medical Center. US Renal Care leased the ground floor space, totaling 11,212 square feet. The CBRE represented US Renal Care in the deal. AltaMed also signed a lease at this medical building.

Vital Statistics Property Address: 2100 W. 3rd St., Los AngelesSquare Footage: 11,212

GOLD AWARD

ANGIE WEBER CBRE

YAIR HAIMOFFSpectrum Commercial Real Estate

MATT SREDENSpectrum Commercial Real Estate

DIANA NIALIS CBRE



T his lease renewal was negotiated on behalf of the ownership. Kaiser is a high profile tenant and are occupying several buildings in the area.

The deal needed to be negotiated very carefully to make sure that all deal terms were covered. This was the largest medical lease in the SCV for 2019.

Vital StatisticsProperty Address: 27201 Tourney Road #206, ValenciaSquare Footage: 10,934Deal Value: $1,845,992

ANDREW GHASSEMISpectrum Commercial Real Estate

YAIR HAIMOFF Spectrum Commercial Real Estate

MATT SREDEN Spectrum Commercial Real Estate

SILVER AWARD

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BEST MEDICAL LEASE



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S I LVER AWARD, HE ALTHC ARE

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LABJ CRE AWARDS

T he Institutional Property Advisors team of brokers made up of Greg Harris, Kevin Green, and Joseph Grabiec achieved

what ended up being the best multifamily sale of last year. The Areum Apartments sold for $75,000,000, with the deal closing on November 26th of last year. The sale was the highest priced purchase per unit in all of San Gabriel Valley and the highest price per unit in all of San Gabriel Valley on 50-or-more unit deals of all time.

Vital Statistics Property Address: Areum ApartmentsDeal Value: $75 million

GOLD AWARD

GREG HARRIS Institutional Property Advisors

KEVIN GREEN Institutional Property Advisors

JOSEPH GRABIEC Institutional Property Advisors

BEST MULTI-FAMILY SALE



C BRE’s Dean Zander, Stew Weston and John Montakab arranged sale of Novella Redondo, a 105-unit apartment property in Redondo

Beach, to a joint venture between IDEAL Capital Group, a real estate investment firm based in Clovis, and Aegon Real Assets US, a division of Aegon NV, for $53.5 million, according to news sources. The CBRE team represented the seller, Stockbridge Capital Group. Novella Redondo is just steps from the beach and offers ocean views from approximately 40 percent of the units. The buyer plans extensive renovations and upgrades to unit interiors and common areas to create a truly “best-in-class” community in one of the most desirable locations in Southern California.

Vital StatisticsProperty Address: 616 Esplanade StreetSquare Footage: 82,203; 105 unitsDeal Value: $53.5 million

JOHN MONTAKAB CBRE

DEAN ZANDERCBRE

STEW WESTON CBRE

SILVER AWARD

BEST MULTI-FAMILY SALE

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A t $260 million, Cul-ver Pointe (C3) was the largest true core

profile office sale in Los Angeles in 2019. Located at 5800 Bristol Parkway in Culver City, the Class A creative office campus totals 310,985 square feet and is situated on 3.31 acres. NKF’s co-head of US Capital Mar-kets, Kevin Shannon, Executive Managing Directors Ken White and Rob Hannan, and Senior Managing Directors Laura Stumm and Michael Moll represented the seller, Morgan Stanley, in the 49 percent partial interest sale to PNC and IDS Real Estate Group. Built in 2017, the award-winning, LEED Gold Certified Gensler-designed office tower is 100 percent leased to six tenants with a weighted average lease term of 10.2 years.

SILVER AWARD

Vital Statistics Property Address: 5800 Bristol Parkway, Culver CitySquare Footage: 310,985Deal Value: $260 million

KEVIN SHANNONNewmark Knight FrankD uring a two-year search to find a corporate

headquarters for their client, Trevor Nelson and Travis Landrum led an off-market

search to approach all of the building owners with appropriate properties for his client on the westside of LA. Nelson had previously represented this client in the purchase and subsequent sale of the Santa Monica post-office, but during that property’s entitlement, the client outgrew the planned expansion. The client was able to acquire their ideal asset at an attractive price, off-market and it was also a success story for the seller.

Vital StatisticsProperty Address: 3000 Olympic Boulevard, Santa MonicaSquare Footage: 286,000Deal Value: $321,500,000

TREVOR NELSONNewmontis Real Estate Investment Banking

BEST OFFICE SALE

TRAVIS LANDUM Industry Partners

GOLD AWARD

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C BRE’s Clay Hammerstein and team represented L.A. Care Health Plan in its 370,000-square-foot lease for an office

building downtown. The building is located at 1200 W. 7th St. L.A. Care Health Plan, the largest publicly-operated health plan, will take occupancy of the property in 2024. The lease deal is part of a consolidation of the company’s Los Angeles office space, moving all 2,000 employees into this new location. As a result, the L.A. Care was able to reduce its office footprint by 63,000 square feet, saving millions of dollars per year.

Vital Statistics Property Address: 1200 West 7th StreetSquare Footage: 370,000

GOLD AWARD

SUZANNE LEECushman & Wakefield

I n 2019, Suzanne Lee represented ServiceTitan, a leading provider of workflow and field service management software for home-

service businesses, in a 125,000-sf headquarters expansion and relocation in Glendale. In one of the city’s largest new lease transactions since 2016, the company signed a seven-year lease at 800 N. Brand Blvd, a trophy office tower owned by Beacon Capital Partners. After an extensive multi-market evaluation, Suzanne and the C&W team negotiated a new HQ lease at 800 N Brand Blvd. that provides for phased-in growth over the next several years and includes prominent building top signage overlooking the 134-freeway.

Vital StatisticsProperty Address: 800 N. Brand Blvd, GlendaleSquare Footage: 125,000

SILVER AWARD

BEST OFFICE LEASE

DANA VARGAS JLL(landlord representation)

TIM MILLER JLL(landlord representation)

CLAY HAMMERSTEIN CBRE(tenant representation)

JOHN MCANIFF JLL(landlord representation)

DANNY REESE CBRE(tenant representation)


B rian Ley and his team at JLL accomplished this historic purchase

in an extremely desirable location, where property tends to stay with the same owners for a very long time.


T he Newmark Knight Frank team’s largest Los Angeles area sale in 2019 was the sale of Plaza Pacoima for $51.3 million. NKF

represented the seller Federal Realty and the buyer Blackstone in the sale of this 203,000 square foot shopping center located at 13550 Paxton Street in Pacoima. The center was anchored by Costco and Best Buy.

Vital Statistics Property Address: Plaza PacoimaSquare Footage: 203,000Deal Value: $51.3 million

GOLD AWARD

BILL BAUMAN Newmark KnightFrank

Vital Statistics Property Address: 15424 W Sunset Blvd, Los AngelesSquare Footage: 29,747Deal Value: $51 million BRYAN LEY

JLL

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BEST RETAIL SALE

SILVER AWARD

KYLE MILLERNewmark KnightFrank



CARTER MAGNINCushman & Wakefield

MATTHEW FAINCHTEINCushman & WakefieldI n 2019, Matthew Fainchtein, Carter Magnin,

and Shana Tavangarian from Cushman & Wakefield brokered the deal for Nate n Al’s

Delicatessen at 443 N. Canon Dr. in Beverly Hills, known as one of the region’s most famous delis and a destination for tourists and residents alike. It was one of the year’s most significant retail transactions in Beverly Hills. Partnering with the City of Beverly Hills to keep the legendary eatery in business, the Cushman & Wakefield team signed Circus Clowns, LLC (a company backed by Irving Azoff, music executive and owner of popular Los Angeles restaurant The Apple Pan), to a 10-year lease agreement for the former Wolfgang’s Steakhouse location.

Vital StatisticsProperty Address: 443 N. Canon Drive, Beverly HillsSquare Footage: 8,806

C BRE brokers Zachary Card, Erik Krasney, and Brent Howell facilitated 9,500 square feet of retail leases at Ivy Station. Ivy

Station, a 500,000 square foot development of high-quality office space with apartments, a hotel, stores and restaurants, is situated on 5.2 acres and is centrally located in Culver City. Tenants include Equator Coffees (which will open its first Southern California location at Ivy Station), LA Ale Works, Mamoun’s Falafel, StretchLab, YogaSix, and Healthy Spot.

Vital Statistics Property Address: 8840 National Blvd, Culver CitySquare Footage: 9,500

ERIK KRASNEYCBRE

ZACHARY CARDCBRE

SHANATAVANGARIANCushman & Wakefield

BEST RETAIL LEASE

BRENT HOWELLCBREGOLD

AWARD

SILVER AWARD


SHANATAVANGARIANCushman & Wakefield

BRENT HOWELLCBRE


2ND & PCH is the Long Beach shopping and lifestyle destination owned and developed by CenterCal Properties, offering an excep-

tional offering of retailers, and luxury archi-tecture and landscape design. The project was beautifully designed by Architects Orange and completed on-schedule by W.E. O’Neill Con-

struction. Since opening Fall 2019, the center has become the ultimate gathering place,

providing the community with refined retail and elevated dining experiences. CenterCal, founded in 2004 by Fred Bruning and Jean Paul Wardy, is a full-service commercial real estate company in the business of investing, develop-ing, leasing, and managing its projects. Center-Cal excels in, and is best known for, creating destinations throughout the western United States with a unique strategy of “place-making,” which emphasizes the importance of developing spaces with a sense of community. 2ND & PCH perfectly encapsulates CenterCal’s vision for the landmark corner of Pacific Coast Highway and

E 2nd Street.Rob Budetti, principal of Architect Orange,

was selected as the architect for the 215,000+ sq. ft. center. “We set out to create the ‘gate-way’ to Long Beach through the building architecture, with the placemaking spaces and lush landscaping. It was important to create a contemporary coastal feel that is a trademark to Long Beach, while also ensuring a ‘living room effect’ and developing a community center for the local and neighboring residents,” said Budet-ti. “Being adjacent to the Marina made it para-mount that we created great second level dining and patio spaces, as well as a central gathering area to take advantage of the great views, ocean breeze and amazing sunsets.”

W.E. O’Neill’s senior project manager Daniel Spickard drew inspiration from the Long Beach community. “When we first saw this project, we were most excited about transforming a histori-cal landmark into one that would stand out for the next generation. The partnership between the City of Long Beach, CenterCal Properties, AO Architects, and the surrounding community helped bring this project to life. We are thankful to have been part of a successful project, achiev-

ing what was once deemed impossible.”2ND & PCH provides the Greater Long

Beach and Orange County communities with a one-stop destination, from early morning beverages from artisanal coffee roasters Caffe Luxxe, to high-intensity cardio and strength training at Barry’s Bootcamp, to dinner at James Beard-nominated chef Matthew Kenney’s innovative plant-based café, Hungry Angelina. CenterCal worked tirelessly to curate a diverse list of tenants that is aligned with the needs and desires of the neighboring areas.

Along with a 45,000 square foot flagship

Whole Foods Market, 2ND & PCH brings outstanding dining options from chefs with both local and national cult-followings. Danny Meyer’s wildly popular burger “stand” Shake Shake opened its first Long Beach outpost while additional options like Ola Mexican Kitchen and Noble Bird Rotisserie are quickly becoming local favorites.

The development is also home to popular apparel retailers including a forthcoming loca-tion of the contemporary clothing store Urban Outfitters, leading athleisure brand lululemon, boho chic maven Free People, as well as several beauty services, such as global prestige retail leader Sephora.

Bruning and Wardy’s passion for develop-ment, coupled with CenterCal’s internal exper-tise, is evident in the properties the company owns and operates today. Each element of 2ND & PCH, no matter how minute, is based on their creative vision for the development and the Greater Long Beach area. CenterCal looks forward to continuing to work with leaders in the retail, dining, wellness, and services realms as they consistently bring on new tenants to open their doors at the development this fall.

CenterCal Properties Brings New Retail, Dining, Wellness, and Services to Premier Long Beach Destination

REAL ESTATESPOTLIGHT



Park Fifth, adjacent to Trademark which is also developed by MacFarlane Part-ners, is the newest luxury addition to Downtown Los Angeles. As Downtown continues to evolve as a thriving center within Los Angeles, Park Fifth, a

24-story high-rise building overlooking Pershing Square, offers an ideal location with its proximity to public transit and the local major office employers.

Situated at 427 W. 5th Street, Park Fifth consists of 347 rental apartments and 5,300 square feet of retail space. Ankrom Moisan, both the architect and interior designer of the cosmopolitan residence, led the creative team that created a 360-degree-view rooftop deck with an infinity-edge pool and cabanas;

a fitness center; and a clubhouse with a bar/kitchen, TVs, ample seating and a busi-ness center. Amenities also include resident concierge services; a controlled-access bike storage and repair area; and a dog walk and washing station. Park Fifth embod-ies a high-end hospitality feel, creating a quiet and peaceful place in the middle of urban Los Angeles.

Suffolk Construction, utilizing their “build smart” approach, provided construc-tion management services for Park Fifth. The project is LEED-Silver certified.

Park Fifth’s high-end amenities address what today’s urban residents demand – alongside retail options. Located across West 5th Street from the Pershing Square Metro Station, which provides commuters with underground rail access to points throughout Los Angeles, the building is around the corner from the planned route of Downtown’s restored, historic streetcar line.

Pershing Square, one of the largest public spaces in Downtown Los Angeles, lies directly south of the project, while Grand Central Market, a historic food hall and major local attraction, is on the next block to the north.

Macfarlane Partners’ Iconic Park Fifth Now Graces the Downtown Los Angeles Skyline

REAL ESTATESPOTLIGHT

BRIDGING CAPITAL TO REAL ESTATE OPPORTUNITY

THE BOXYARD NOMINATED FOR LABJ’S PROJECT OF THE YEAR

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LOS ANGELES/SAN FRANCISCO | CHICAGO | NEW JERSEY/NEW YORK | MIAMI | SEATTLE



The Winter 2020 Allen Matkins/UCLA Anderson Forecast California Commercial Real Estate Survey shows that although the

economy is predicted to slow in 2020, develop-ers’ views on most California commercial real estate in 2022 are optimistic, and they reflect an eagerness to get in on the ground floor of the next commercial real estate expansionary cycle. The biannual survey projects a three-year-ahead outlook for California’s commercial real estate industry and forecasts potential opportunities and challenges impacting the office, multi-family, retail, and industrial sec-tors.

Overall, survey panelists for each market, with the exception of retail, predict that 2022 will be as good or better than 2019. Panelists are optimistic about industrial and multi-family projects, while office markets are neutral, and retail space sentiment remains generally pessi-mistic.

AFTER SIGNS OF SLOWING, OFFICE SPACE MARKET OUTLOOK IMPROVES

While recent surveys indicated that the peak of the office market had been reached in the current cycle, the latest survey indicates a beginning of a return to confidence by 2022. For the East Bay, Orange County, and San Diego, the panelists were optimistic that rental rates would increase faster than inflation while

vacancy rates would be lower than today. In the San Francisco, Silicon Valley, and Los Angeles markets, this optimism is confined to rental rates, with only a slight decline in occu-pancy. These views are consistent with the per-spective of most economists that the California economy will return to faster growth in 2022, and will generate new jobs requiring additional office space.

INDUSTRIAL CONTINUES HOT STREAK DUE TO WAREHOUSE DEMAND

With the industrial market currently domi-nated by warehouses serving continued growth in e-commerce, survey panelists don’t see the red-hot industrial market pulling back any time between now and 2022. Activity throughout Northern California and the Inland Empire is expected to remain at the same level of strength as today, while the Los Angeles mar-ket is projected to continue to improve. The improvement is due to a shortage of space close to the ports and a sense that the current down-turn in trade is temporary.

An expansion of the Los Angeles industrial market will ultimately be driven by the imple-mentation of multi-story edifices with pro-ductivity enhanced by robotics and new tech-nologies to manage the high-rise warehouses. While the timing of these technologies is still unknown, they are expected to help drive Los

Angeles industrial property values when rolled out in the years to come.RETAIL SENTIMENT RESUMES ITS DOWNWARD SPIRAL

While the last survey saw a glimmer of hope for a moderate retail rebound, sentiment in this space has returned to pessimism —panel-ists have given retail its lowest values since this survey began collecting retail predictions four years ago. This pessimism is likely fueled by the constant shift to online shopping and the weaker-than-expected start to the 2019 holiday shopping season. A weakness in the demand for the revitalization of existing retail space is also driving this pessimism.

Though new retail construction is expect-ed to fall from now through 2022, there does remain some activity. Some of the Bay Area and Southern California panelists began new retail development or re-development projects in the last year – more than anticipated – and an equivalent percentage of panelists expect to start at least one new project this year.

MULTI-FAMILY MARKET SENTIMENT CONTINUES TO BE BULLISH

Multi-family market expectations this time around continue the trends seen in previous recent surveys. The Southern California mar-kets anticipate a continued building boom. In the Bay Area, where rent control now has

more certainty to it with AB 1482, panelists predict an increase in the amount of new multi-family construction. There is uniform optimism in Los Angeles, Orange County, and San Diego, as interest rates have lowered and lending conditions are not changing in any significant way.

The only impediment to the multi-family market continues to be the lack of qualified labor and the resulting increase in construction costs. California’s construction workforce has reached levels close to that experienced during the housing boom of 2004-2006.

The Allen Matkins/UCLA Anderson Fore-cast California Commercial Real Estate Survey and Index Research Project polled a panel of California real estate professionals in the development and investment markets, on var-ious aspects of the commercial real estate mar-ket. The survey is designed to capture incipient activity by commercial real estate developers. To achieve this goal, the panel looks at the markets three years in the future, and building conditions over the three-year period. The survey was initiated by Allen Matkins and the UCLA Anderson Forecast in 2006, in further-ance of their interest in improving the quality of current information and forecasts of com-mercial real estate.

Visit UCLA Anderson Forecast at uclaforecast.com.

Forecast Predicts California CRE to Expand in 2022

The U.S. economy will continue its long expansion in 2020, supporting the solid fundamentals of the commercial real estate

market, according to CBRE’s forecast in its 2020 Real Estate Market Outlook report.

CBRE foresees tempered growth in the U.S. commercial real estate market this year due to uncertainty surrounding trade negotiations, weakness in manufacturing and the approach of the presidential election season.

“This year will bring deceleration on a few fronts, but this still is an expanding economy and a flourishing property market benefiting from a robust job market, solid consumer con-fidence and low interest rates,” said Richard Barkham, CBRE’s Global Chief Economist and Head of Americas Research. “We’ll see resil-ience across asset classes such as office, retail and multifamily as demand continues to buoy those sectors. And we see transaction volumes and capitalization rates staying relatively sta-ble.”

CBRE’s Outlook report includes perspec-tives on the 2020 trajectories for capital mar-kets and six real estate sectors.

CAPITAL MARKETSWith global bond yields expected to remain

extremely low and equity markets likely more volatile, the stable returns of U.S. commer-cial real estate will be even more attractive in 2020. Investment volume should reach between $478 billion and $502 billion, on par with the prior two years and making it one of

the strongest years on record. Greater investor caution and buyer-seller disconnects on pric-ing could slightly reduce volume from 2019 levels.

Foreign investment should rebound this year after pullback in 2019, as a substantial decrease in hedging costs for many major investor countries (spurred by falling U.S. interest rates) drives more capital to compete for U.S. assets, particularly in “safe haven” core markets.

OFFICE AND OCCUPIERThe growth of office-using jobs will slow to

0.3 percent in 2020 from 1.5 percent between 2018 and 2019. That and other factors will lead to new construction outpacing net absorp-tion of U.S. office space this year, resulting in a slight increase to the national vacancy rate and a slowing of rent growth to a 1.6 percent gain.

CBRE projects the flexible-office sector will grow by 13 percent in 2020, down from an expected 23 percent in 2019. Flex office inventory should grow to 87 million sq. ft. by the end of 2020, accounting for 2.1 percent of the U.S. office market.

INDUSTRIAL & LOGISTICSThe market’s streak of 38 straight quarters

of positive net absorption might be hard to sus-tain in 2020 with vacancies historically tight. Rents will increase by an average of 5 percent this year. The impact of trade conflicts on the

market is expected to be limited.

RETAILCBRE foresees consumers more cautious

this year amid uncertainty on several fronts. But rents and net absorption are likely to post small gains due to a relative dearth of new retail construction. Trends likely to gain momentum in 2020 include developers converting malls to mixed-use complexes, Generation Z boosting traffic at retail centers, and health and wellness uses taking more retail space.

MULTIFAMILYMultifamily is positioned for continued

favorable performance in 2020 but will experi-ence some cooling due to new supply outpac-ing demand. New and potential rent control legislation will remain an industry concern. The overall vacancy rate likely will edge up by 20 basis points to 4.5 percent in 2020, still below the long-term average of 5.1 percent. Rent growth will likely edge down to about 2.4 percent, just under the long-term average of 2.6 percent.

ALTERNATIVESAlternative investments – a category

including self-storage, data centers, medical offices, life sciences facilities, senior housing and student housing – has grown to a 12.5 percent share of all commercial real estate investment in 2019 from 6 percent in 2007.

CBRE sees investment volume in this category matching the $59 billion annual average of the past six years.

DATA CENTERSNew data center capacity in the primary

U.S. markets will increase these markets’ total inventory by 17.3 percent this year, increasing competition among providers in certain mar-kets in 2020. The integration of 5G and Edge deployments into data center users’ portfolios in the coming year may result in an uptick in demand in secondary and tertiary data center markets.

To read CBRE’s 2020 Real Estate Market Out-look report, visit cbre.us.

Office, Retail, Industrial & Logistics and Other Sectors Likely to Register Gains This Year

This year will bring deceleration on a few fronts, but this still is an expanding economy and

a flourishing property market benefiting from a robust job

market, solid consumer confidence and low interest rates.


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1 Honoree for Gold Best Hospitality Project, The Residences at the Edition (Witkoff, Pankow Builders, and HKS Architects).

2 Panelists, Jim Kruse (DPI Retail), silver sponsor, Larry Bond (Bond Companies), gold sponsor, Daniel Camin (Swinerton Builders), gold sponsor, Jason Grinnell (Thompson Coburn LLP), and gold sponsor, Kenneth Tindall (CBIZ | MHM).

3 Silver sponsor attendees (Sharpe Interior Systems).

4 Attendees (Compass Commercial).

5 Honorees for Gold Best Retail Project, 2nd & PCH (Silver sponsor, CenterCal Properties with W.E. O’Neil Construction, and AO).

6 Broker of the Year, Jeff Pion (CBRE).

7 Honorees for Silver Best Multi-Family Project, Park Fifth (Silver sponsor, MacFarlane Partners, with Suffolk Construction, and Ankrom Moisan Architects).

8 Honorees and silver sponsors, Yair Haimoff, Andrew Ghassemi and Matt Sreden for Silver Best Medical Lease and Medical Sale (Spectrum Commercial Real Estate, Inc.).

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1 Honorees (Gensler, KOR Group, and Morley Builders).

2 Platinum sponsors and nominees, Josef Ferrar and David Kluth (Newmark Knight Frank).

3 Honorees for Gold Best Mixed-Use Project, LA LGBT Center (LA LGBT Center, Swinerton Builders, and KFA Architecture).

4 Honorees for Gold Best Tenant Improvement Project, Convene 333 South Grand (Silver sponsor, Sierra Pacific Constructors and HOK).

5 Gold sponsor (Parker Brown) with Attendee (TIS).

6 Attendees (Plus Architects).

7 Honoree and platinum sponsor, Laurie Lustig-Bower (CBRE) with honoree for Gold Best Redevelopment Project, The Trust Building, Sade Holz (Rising Realty Partners).

8 Honoree John McAniff (JLL).

9 Silver sponsors (KPRS).

10 Rookie of the Year, Marin Koper with team (Kennedy Wilson).

11 Silver sponsor and honorees (Bridge Development Partners).

12 Honorees for Silver Best Medical Project, Lundquist Institute for Biomedical Innovation (Lundquist with silver sponsors, DPR Construction, and ZGF Architects).

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PLATINUM SPONSORS GOLD SPONSORS...2020/02/24 · On Feb. 18, we hosted one of the Los Angeles Business Journal’s biggest events: the Commercial Real Estate Awards. Locally, there