The Natural History Museum is moving forward with a $240 million overhaul of the La Brea Tar Pits and Page Museum. In Palmdale, Covington Group secured final entitlement for a 9.4 million-square-foot industrial hub, while a 58,652-square-foot retail center anchored by Smart & Final and Barnes & Noble sold for $13.5 million.
LA's real estate market remains active with targeted deals as Rexford Industrial Realty acquires a 120,000 SF industrial park in Pico Rivera for $38.5M. The Ratkovich Company secures a 75,000 SF tech lease at The Bloc in Downtown LA, while Starwood Capital refinances its San Gabriel Valley industrial portfolio for $150M.
Mayor Bass is fast-tracking five new office-to-residential conversions in downtown LA, aiming for 1,200 units. Meanwhile, a major fashion retailer inked a 25,000 sq ft lease at 6201 Hollywood Blvd, and LA County's industrial vacancy rate saw a slight rise to 2.8% in Q1 2026.
WME Group divested its sports-marketing agency, 160over90, for over $500 million, while Waterton secured $77.8 million in financing for its 293-unit Olive DTLA apartment complex. Separately, KB Home announced its corporate headquarters relocation from Los Angeles to Tempe, Arizona, by 2027.
WME Group divested its sports marketing agency for over $500 million, while Bill Ackman made a $64 billion offer for Universal Music Group. Meanwhile, KB Home announced its corporate headquarters relocation from Los Angeles to Tempe, Arizona, highlighting ongoing corporate exits from California.
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