broker & project nominees - CBJonline.com

custom content f e b r u a ry 12 , 2018

BROKER & PROJECT NOMINEES

AWARDS DINNER Tuesday, February 20, 2018 | 6:00pm – 8:30pm The L.A. Hotel Downtown | 333 South Figueroa Street | Los Angeles, CA 90071 Tickets available at labusinessjournal.com/bizevents

PLATINUM SPONSORS

GOLD SPONSORS

DAUM Commercial Real Estate Services Hudson Pacific Properties

SILVER SPONSORS

Colliers International | Howard Building Corporation | McCarthy Building Companies Millie and Severson | Oltmans Construction Co. | PCL Construction Services | Suffolk Construction

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34 LOS ANGELES BUSINESS JOURNAL – CUSTOM CONTENT

FEBRUARY 12, 2018

2018 Commercial Real Estate Forecast Indicates Change and Opportunity, Domestically and Globally R apid change is underway in the world’s commercial real estate industry, and the dynamics are in flux as the current investment cycle enters its latter stage. The industry continues to contend with differing property fundamentals across asset types, markets and regions, with occupier behavior, innovation and technology acting as key sources of change that are taxing the sector. The current interest-rate environment is another contributor to this change – albeit a somewhat limited factor. These are some of the key trends noted in Avison Young’s 2018 North America and Europe Commercial Real Estate Forecast, released last month. “We have spent the better part of three years debating where we are in the real estate cycle; for 2017, we dragged out a baseball analogy, pondering what inning we were in,” commented Mark E. Rose, Chair and CEO of Avison Young. “We concluded that the real estate industry was in the late stages of the game, but could be headed into extra innings. As we start 2018, the game is still going, but there is a clear and palpable difference. Change is underway and the dynamics on the field are in flux. Our industry needs to decide what to do next.” Rose continued: “As we greet the New Year, however, a critical difference is that change is in motion – change that is positive, powerful and moving very quickly. This is the type of change that creates opportunity and allows for success. Those who cannot accept this new reality will dismiss it at their own peril.” He added: “Interest rates are at historic lows and continue to stay low, but are moving up incrementally, as they really only have one way to go. Short-term interest rates are being properly – and effectively – normalized by central banks. There is stability and growth in the GDP of the G7, and rising interest rates are typical in this environment. Capitalization rates are another story. Commercial real estate has printed trades at historically low cap rates, but the bidask spread is widening – and acting as a brake on transaction volumes in major markets. The theory that interest rates will rise at the short end, but thinning spreads will keep cap rates in place, is not logical or supportable over the midto-long term. Cap rates and corresponding return requirements will eventually move as financing acquisitions becomes more expensive.” Occupier behavior, states the report, is another source of change that is challenging the market and more fundamentally driving innovation and performance. “Ultimately, these trends will prove beneficial as real estate is used more effectively and with greater cost efficiency,” said Rose. Technology, including its impact on real estate solutions, is potentially the most exciting element of change in the commercial real estate industry. Technology adoption – including artificial intelligence – is gaining so much momentum that it is driving profitability and expanding capabilities exponentially. Wellness in the workplace is another emerging trend that intersects with occupancy solutions, the hunt for talent and technology. Whole health, or the combination of physical and mental wellness, is critical to the success of all enterprises. Rose concluded: “Change is good when it benefits an industry and its stakeholders. Rising interest rates and capitalization rates in 2018 – and beyond – will allow for more traditional


pricing of assets based on a risk-adjusted real rate of return. Once the stalemate over prior cycle strategies and underwriting ends, growth should fuel more demand, reduce vacancies and cause rental rates to rise. When this change is combined with efficiencies captured by the latest technologies, we will welcome a new wave of demand, performance and innovation.” “U.S. commercial property markets demonstrated further strength in terms of vacancy and pricing in 2017 and the recent tax reform legislation could have a positive impact on real estate and investors in 2018, in spite of the often-divisive issues facing the country,” commented Earl Webb, President, U.S. Operations for Avison Young. “While overall sales transaction volume fell for the second year in a row, domestic and foreign investors continue to view the U.S. as a safe haven with specific markets and property sectors registering gains. And as we forecasted at the beginning of 2017, an equilibrium was

trajectory through 2018.” Webb added: “Likewise, trends seen in 2017 for the office sector are expected to continue in 2018. Aging inventory and tenant demands for on-site amenities will bring further renovation and reuse of older and obsolete properties. These are often repurposed to alternative property types – we’ve seen office become residential, storage and even conversions to schools. Owners are setting aside under-utilized spaces, portions of lobbies and other common areas for tenant amenities, such as shared conference centers and gathering spaces. As well, landlords are building ready-to-occupy spec suites to attract smaller tenants, and are often directly competing with the expanding number of new co-working operators. From an occupier standpoint, the new lease accounting standard is one year away from taking effect and will, undoubtedly, cause occupiers to study the costs and benefits of leasing versus ownership seriously.”

‘Change is good when it benefits an industry and its stakeholders. When this change is combined with efficiencies captured by the latest technologies, we will welcome a new wave of demand, performance and innovation.’ MARK E. ROSE, Avison Young

achieved between new supply of space delivered and overall incremental demand for space by occupiers. With modest interest-rate increases readily absorbed by both the debt and equity markets, cap-rate compression largely ceased during the year.” Webb continued: “An abundance of capital remains available for trades, pricing is strong and property markets are registering meaningful development in response to demand for modern properties. These factors will keep the U.S. commercial property market on its current upward

Notable U.S. office market highlights include: • Avison Young is tracking 5.2 billion square feet (bsf) of office inventory in 46 U.S. markets that had an overall vacancy rate of 11.8% at the end of 2017, mirroring office vacancy in Canada, and falling 10 bps from year-end 2016’s 11.9% rate. U.S. vacancy is forecasted to increase slightly to 12% by year-end 2018. • Office space under construction is 55% preleased with tenants demonstrating demand for new well-located and amenity-rich product. The report goes on to say the rate of growth

in e-commerce outpaced that of overall retail sales, and analytics will play a greater role as retailers embark on targeted and automated marketing campaigns. The need for omni-channel retailing has not abated, and successful retailers’ offerings include experiential retail and strong digital storefronts with speedy delivery. Notable U.S. industrial market highlights include: • The U.S. industrial market’s growth is being fueled by logistics and distribution needs related to growing adoption of e-commerce and bridging the last mile in the supply chain. Data redundancy, technology and distribution have all contributed to driving vacancy lower, pushing rents higher and spurring a considerable amount of new industrial development. Big data and the Internet of Things will further push demand for data centers in this sector. • As 2017 drew to a close, the U.S. industrial sector totaled 11.2 bsf and reported an overall vacancy rate of 5.2 % – a 10-bps dip from yearend 2016. Another 188 msf of new construction is underway. • U.S. industrial vacancy is expected to rise slightly to approximately 5.4% at the end of 2018 while 19 markets are forecasting vacancy to fall year-over-year. Supported by a period of historically low interest rates, investment sales volume rose each year between 2009 and 2015. In 2015, total volume nearly reached the 2007 peak of $572 billion on the back of a slate of megadeals and portfolio sales. After falling by 9% year-over-year in 2016, transaction volume in 2017 trended still lower through November 2017. Nevertheless, pricing was supported and an abundance of capital chased available deals. Select U.S. markets also reported significant, or historic, sale prices. Specific asset classes and key markets are performing well and this trend is expected to be amplified in 2018. “There is no question about the global appetite for industrial investments,” said John Kevill, Principal and Managing Director of U.S. Capital Markets for Avison Young. “With attractive financing options persisting and new tax legislation taking effect, capital markets should maintain their strength in 2018 – with even more real estate exposure possible from private investors. Of course, markets thrive on clarity; and with several macroeconomic shifts underway across all product classes, we expect that demand will continue to be strongest for well-established properties and institutional-quality offerings.” After China led foreign investment in the U.S. in 2016, Canada reclaimed top spot, by far, with more than $15 billion invested at year-end 2017. Including Singapore, China, the Netherlands and Germany, the top five countries accounted for $34 billion in cross-border capital investment in the U.S. in 2017. “We expect several factors to influence real estate occupancy and capital-markets activity in 2018,” added Webb. “Real estate will provide attractive yields relative to stock-and-bond alternatives as the growth rate of the stock market should slow from that of 2017.” He concluded: “Essentially, we expect rental stability to prevail in most markets. Although transaction volume will decline again, by as much as 10% to 15% in major markets, pricing should be buoyed by capital demands from all investors, thus offsetting any slight increases in borrowing costs.”

2/8/2018 4:24:41 PM

FEBRUARY 12, 2018 CUSTOM CONTENT - LOS ANGELES BUSINESS JOURNAL 35

LOCAL ADVANTAGE.

CBRE knows Los Angeles. Through our industry leading perspectives, scale and local connectivity, we deliver outcomes that drive business and bottom-line performance for every client we serve. How can we help transform your real estate into real advantage?

LEWIS C. HORNE President, Southern California & Hawaii Region +1 213 613 3305

@CBRESoCal cbre.us/socal

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36 LOS ANGELES BUSINESS JOURNAL - CUSTOM CONTENT

FEBRUARY 12, 2018

LEADERS IN REAL ESTATE

SOLUTIONS Newmark Knight Frank is one of the world’s leading commercial real estate advisory firms. With a global presence of more than 400 offices and 15,000 professionals, our integrated services platform provides clients with a single-source solution for every phase of occupying or owning a property. •

Leasing Advisory

•

Global Corporate Services

•

NKF Capital Markets

•

Consulting

•

Program and Project Management

•

Property and Facilities Management

•

Valuation and Advisory Services

North America • Latin America • Europe • Asia-Pacific • Africa • Middle East


2/7/2018 11:08:39 AM


POWERING REAL ESTATE

INNOVATION Newmark Knight Frank is leading the technological revolution in commercial real estate. As the authority in real estate advisory, data and technology, our firm utilizes the most high-tech tools in the industry to meet our clients’ needs and exceed their expectations. Newmark Knight Frank is transforming businesses and properties – and pioneering the next evolution in real estate services.

ngkf.com


2/7/2018 11:08:47 AM


FEBRUARY 12, 2018

2018 BROKER NOMINEES

Jeff Adkinson

Martin D. Agnew

Barbara Armendariz

Tony Azzi

Jones Lang LaSalle

Marcus & Millichap

SharpLine Commercial Partners

Marcus & Millichap

Brandon Bank

Patrick Barnes

Hunt Barnett

Brad Baskin

CBRE Group, Inc.

Colliers International

LA Realty Partners

CBRE Group, Inc.

Bill Bauman

Steve Bellitti

Kevin Bender

Joshua W. Bernstein

Newmark Knight Frank


CBRE Group, Inc.

First Property Realty Corporation

Peter Best

David Black

Steve “Bogie” Bogoyevac

Bill Boyd

LA Realty Partners

Marcus & Millichap

Marcus & Millichap

Charles Dunn Company

Steve Bram

Rick Buckley

Kent Butler

Derek L. Caldwell

George Smith Partners

LA Realty Partners


Marcus & Millichap


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2/7/2018 5:41:34 PM


FEBRUARY 12, 2018


Chris Caras

Cray A. Carlson

Eric C. Chen

Gary Chou

CBRE Group, Inc.

CBRE Group, Inc.

CBRE Group, Inc.

Matthews Real Estate Investment Services™

Jay Chu

Aron Cline

Marty Cohan

Robert Cohen

Secured Properties


Marcus & Millichap

RFK

Anthony DeLorenzo

Charles DeSantis

Chris DeVries

Ian DeVries

CBRE Group, Inc.




Jay Dick

R. Todd Doney

Barbara Perrier

Owen Fileti

CBRE Group, Inc.

CBRE Group, Inc.

CBRE Group, Inc.

LA Realty Partners

Kyle Fishburn

Jaclyn G. Fitts

Robert Flores

Ryan Foley

Illi Commercial Real Estate

CBRE Group, Inc.

CBRE Group, Inc.

CBRE Group, Inc.


2/8/2018 4:25:42 PM


RAISING THE BAR TOP PRODUCERS Los Angeles County

Accelerating success.

2017

Colliers in Greater Los Angeles is proud to recognize those

whose truly elevated sense of service has made them our Top Producers of 2017.

Visit us at colliers.com

Patrick Barnes

Steve Bellitti

Lary Carlton

John DeGrinis

Patrick DuRoss

Kevin Fenenbock

Reza Ghobadi

Scott Heaton

Darrin Kennedy

Chuck Littell

James Min

Rick Nunez

Tony Phu

Richard Schwartz

Chris Sheehan

Mark Tarczynski

Thomas Taylor

Adam Tischer

Corey Waite

Kitty Wallace

Dan Weil

Mark Zorn


2/7/2018 5:42:03 PM


FEBRUARY 12, 2018


Michael Geller

George Gleason

Rob Hannan

Gregory Harris


LA Realty Partners


Institutional Property Advisors Division, Marcus & Millichap

Ronald Z. Harris

Alexander Harrold

Scott A. Heaton

Matthew Heyn




CBRE Group, Inc.

Allison Higgins

Chris Houge

Christopher A. Isola

Morgan Jackson


LA Realty Partners

CBRE Group, Inc.

Cushman & Wakefield

Mike James

Gabe Kadosh

Justin B. Kim

Alex Kozakov

James Capital Advisors


Marcus & Millichap

CBRE Group, Inc.

Chad Kurz

Chandler A. Larsen

Jonathan Larsen

Michael Lawrence


Avison Young

Avison Young

Marcus & Millichap


2/8/2018 4:25:53 PM


Regional Connector

Union Station Fred Harvey Building Restoration

LA Metro Expo Line Phase II

Sixth Street Bridge

LAX

Building what matters for Los Angeles Partnering with the community, Skanska builds the places we work and play - and the ways we get to all of them.

usa.skanska.com


CA 817578 /140069

2/8/2018 3:59:20 PM


FEBRUARY 12, 2018


Linda Lee

Bryan D. Lewitt

Evan Lewitt

Darla Longo


CBRE Group, Inc.

CBRE Group, Inc.

CBRE Group, Inc.

Mike Longo

Jeff Louks

Laurie Lustig-Bower

Christopher Maling

CBRE Group, Inc.

Marcus & Millichap

CBRE Group, Inc.


David Maling

Tyler J. Martin

Brendan McArthur

Lonnie McDermott



Jones Lang LaSalle

Marcus & Millichap

Brandon Michaels

Eddie Michino

Craig Miller

Kyle Miller

Marcus & Millichap


Stone-Miller


Matthew Miller

Michael Moll

Derrick Moore

Jacob Mumper

Cresa


Avison Young



2/8/2018 4:58:02 PM

FEBRUARY 12, 2018

CUSTOM CONTENT – LOS ANGELES BUSINESS JOURNAL 45


Priscilla Nee

Janet Neman

Dana Nialis

Patrick O’Donnell

CBRE Group, Inc.




Greg Offsay

Orbell Ovaness

David Pascale, Jr.

David Passman


CBRE Group, Inc.


The Passman Group

Kamran Paydar

Jordan Perlman

Rebecca Perlmutter

Tony Phu

CBRE Group, Inc.


CBRE Group, Inc.


Jeff Pion

Gerald A. Porter

Rick E. Raymundo

Connor Reeves

CBRE Group, Inc.

Cresa

Marcus & Millichap


Marc Renard

Richard J. Ringer

Richard Rizika

Ryan Rothstein-Serling

Cushman & Wakefield

Marcus & Millichap

CBRE Group, Inc.

Marcus & Millichap


2/8/2018 4:58:17 PM


FEBRUARY 12, 2018


Phillip Sample

Manfred Schaub

Bryan M. Schellinger

Artin Sepanian

CBRE Group, Inc.

Cushman & Wakefield

Marcus & Millichap

CBRE Group, Inc.

Kevin Shannon

Lee J. Shapiro

Christopher Sheehan

Peter Sherman


Kennedy Wilson


Avison Young

Calvin Short

Michael Shustak

Ben Silver

Ted Simpson


CBRE Group, Inc.


Avison Young

Jeffrey Smart

Mark Sprague

Lisa St. John

Randy Starr


CBRE Group, Inc.

LA Realty Partners

Avison Young

Kimberly Stepp

Robert Stepp

Jake Stickel

Laura Stumm

Stepp Commercial

Stepp Commercial

CBRE Group, Inc.



2/8/2018 4:58:40 PM

FEBRUARY 12, 2018



Sean Sullivan

Thomas Taylor

Todd Tydlaska

Patricia Uchytil

CBRE Group, Inc.


CBRE Group, Inc.


Scott Unger

Nicolas Vranka

Patrick Wade

Erik J. Wanland


CBRE Group, Inc.

CBRE Group, Inc.

CBRE Group, Inc.

El Warner

Angie Weber

Gary Weiss

Ken White



LA Realty Partners


Joshua Yammer

Ryan Yatman

Shahin Yazdi

Jesse Zarouk

Marcus & Millichap

Secured Properties


CBRE Group, Inc.

Mark Zorn Colliers International


2/8/2018 4:58:42 PM


FEBRUARY 12, 2018

2018 PROJECT NOMINEES |DEVELOPER

|GENERAL CONTRACTOR

| ARCHITECT

101 Sepulveda Rehab | Lincoln Property Company | Oltmans Construction Co. | ShubinDonaldson Architects

Avalon West Hollywood | AvalonBay Communities Inc. | AvalonBay Communities Inc. | MVE + Partners, Inc.

1601 Vine | J.H. Snyder Company, LLC | J.H. Snyder Company, LLC | Ware Malcomb

BCG Los Angeles Office HQ | Sierra Pacific Constructors | ShubinDonaldson Architects

1800 Vine | Archway Holdings | Page Construction | Rios Clementi Hale Studios

BCG: Digital Ventures Manhattan Beach | The Boston Consulting Group

925 La Brea | CIM Group | ShubinDonaldson Architects

Beverly Center Renovation | Taubman | Jacobsen / Swinerton Builders

- Digital Ventures | Howard Building Corporation | R&A Architecture + Design

Joint-Venture

| Neumann / Smith Architecture


Aerojet Rocketdyne | CBRE Group, Inc. | Esplanade Builders | IA Interior Architects

Bright Horizons | Clune Construction Co | AB Design Studio, Inc.

Akerman LLP | Rising Realty | Corporate Contractors | Wirt Design Group Inc

Bunim Murray New Campus Headquarters | 2020 Acquistions | DBaC, Inc. | IA Interior Architects

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FEBRUARY 12, 2018


2018 PROJECT NOMINEES C3 at Culver Point | DS Real Estate Group | KPRS Construction Services Inc. | Gensler

Collins & Katz Family YMCA | Collins & Katz Family YMCA | Oltmans Construction Co. | Gonzalez Goodale Architects

Capital Brands | Capital Brands | Sierra Pacific Constructors | HKS Architects, Inc.

Columbia Square | Kilroy Realty Corporation | Hathaway Dinwiddie

Cedars-Sinai, Playa Vista Physician Office & Urgent Care | Cedars-Sinai | TIS Construction Services Inc. | ZGF Architects LLP

Crenshaw Imperial Plaza | NewMark Merrill Companies | CSI Construction | McKently Malak Architects

Christie’s Los Angeles Flagship | Christie’s | Swinerton Builders | Creative Space

CSUN Associated Students Sustainability Center | California State University,

City National Plaza Repositioning and Event Space | Commonwealth Partners | Charles Pankow Builders | Gensler

Culver Creative (C3) Office and Parking Structure | IDS Real Estate Group | KPRS Construction Services Inc. | Gensler

Claremont McKenna College, Roberts Pavilion | Claremont McKenna College | PCL Construction Services, Inc. | John Friedman Alice Kimm

Eataly Los Angeles | Clune Construction | Studios Architecture

(Office and Parking) | Rios Clementi Hale Studios Executive Architect Company: House & Robertson Architects

Northridge | Gilbane Building Company | Gensler

Architects, Inc.


2/8/2018 5:00:06 PM


FEBRUARY 12, 2018

2018 PROJECT NOMINEES

|DEVELOPER

|GENERAL CONTRACTOR

Evanston Court | Heritage Housing Partners | RAAM Construction | KFA Architecture

Freehand LA Hotel | Sydell Group | Shangri-La Construction | KFA Architecture

Fountainview at Gonda Westside | JHA WEST 16, LLC | C.W. Driver | Gensler

Ganahl Lumber South Bay | Ganahl Lumber Co. | Oltmans Construction Co. | Withee Malcolm Architects, LLP

Fred Segal | Shawmut Design and Construction | Loescher Meachem Architects, Inc.

G-Cubed | CBRE Group, Inc.

Gensler Los Angeles: A Unified Creative Campus | CommonWealth Partners | KPRS Construction Services Inc. | Gensler

ICON | Hudson Pacific Properties | McCarthy Building Companies | Gensler

HATCH Bioscience Labs | ASG Real Estate Inc &

Immanuel Place | Thomas Safran & Associates | Dreyfuss Construction | KFA Architecture

Agora Partners

| City Constructors Inc. | BAM Architecture Studio

Hollywood Bowl Box Office Plaza | Los Angeles Philharmonic | MATT Construction | Rios Clementi Hale Studios


| ARCHITECT

Global Investors | Swinerton Builders | Skidmore, Owings & Merrill LLP

Kaiser Permanente Baldwin Hills Medical Office Building | Kaiser Permanente | Turner Construction | HOK

2/8/2018 5:00:12 PM

FEBRUARY 12, 2018


2018 PROJECT NOMINEES Horizon Media Los Angeles Expansion | Clune Construction Co. | Architecture Plus Information

Kaiser Permanente West LA Parking Structure | Kaiser Foundation Health Plan

HYFN | Marshall Property & Development, LLC | 360 Construction Group Inc. | OKB Architecture

Knoll Los Angeles Showroom | Taslimi Construction Company | Architecture Research Office /

Hyundai Card Studio Black | Hyundai Card | Artco Design | Gensler

Los Angeles Football Club, Banc of California Stadium | LAFC (Los Angeles Football

Inc. National Facilities Service

| DPR Construction | Parking Design Solutions

Wirt Design Group

Club) Stadium Co., LLC | PCL Construction Services, Inc. | Gensler

BUILDING A HIGHER STANDARD Young Israel of Century City - Synagogue Renovation and Expansion

Nominated for Los Angeles Business Journal’s Commercial Real Estate Awards

LOS ALAMITOS (562) 493 3611 ONTARIO (909) 291 7380 STEVENSON RANCH (661) 476 5572

Millie and Severson is a proud California builder, creating award-winning projects for more than 72 years. Our buildings start with lasting relationships.

PLEASANTON (925) 227 0700

OFFICE

HEALTHCARE


MEDICAL OFFICE BUILDING

INDUSTRIAL

CULTURAL + EDUCATIONAL

2/8/2018 7:00:48 PM


FEBRUARY 12, 2018


|DEVELOPER

|GENERAL CONTRACTOR

| ARCHITECT

Los Angeles Rams Administrative Offices | Los Angeles Rams | RCI Builders | HKS Architects, Inc.

Metropolis Phase I Residences | Greenland USA | Webcor | Gensler

Los Angeles Union Station Bike Hub | Morlin Asset Management, LP /

The Micropolitan at Larchmont Village | Micropolitan, LLC | Frymer Construction | KFA Architecture

Metro | Swinerton Builders / GES | Architectural Resources Group

Metropolis Phase I Hotel Indigo | Greenland USA | Webcor | Gensler

Monarch Beach Resort | KSL Capital Partners LLC | Layton Construction Company | TFO Architecture / Wimberly Allison Tong & Goo

Ganahl Lumber South Bay

101 Sepulveda

Collins & Katz Family YMCA

PIH Health Bloomfield Medical Office Building

Congratulations to all nominees

United Pacific Headquarters


www.oltmans.com

2/8/2018 7:01:14 PM

FEBRUARY 12, 2018


2018 PROJECT NOMINEES The Morita Building at Sony Pictures | Sony Pictures Entertainment Inc. | C.W. Driver Companies | Gensler

nVe Apartments | Micropolitan, LLC | Frymer Construction | KFA Architecture

NBCU - E! Entertainment | Sierra Pacific Constructors | Ex Novo, Inc.

Orchard Supply Hardware | Cadence Capital Investments, LLC | W.L. Butler Construction, Inc. | Naos Design Group, LLC

NBCUniversal Cable Entertainment | Sierra Pacific Constructors | Ex Novo, Inc.

Pen Factory | Clarion Partners / Lincoln Property Company

| Morley Builders, Inc. | Skidmore, Owings & Merrill, LLP

Experience the Revolution. Suffolk is leading the transformation of the construction industry with technology and process innovations that boost predictability, accelerate schedules, eliminate costs and minimize waste. Our “build smart” approach is sparking an industry revolution.

See for yourself at suffolk.com.


2/8/2018 5:01:22 PM


FEBRUARY 12, 2018


|DEVELOPER

|GENERAL CONTRACTOR

PIH Health Bloomfield Medical Office Building | PIH Health | Oltmans Construction Co. | Burghard Design Group Architects, Inc.


| ARCHITECT

Rancho Los Amigos National Rehabilitation Center Don Knabe Wellness Center and Plaza | County of Los Angeles Department of Public Works | McCarthy Building Companies, Inc. | SmithGroupJJR / Taylor Design

Promenade at Downey | Alberta Development Partners, LLC /

Stoneview Nature Center | County of Los Angeles

Industrial Realty Group, LLC | Lyle Parks Jr. Construction | Architects Orange

Department of Public Works | Ledcor Construction Inc. | Ehrlich Yanai Rhee Chaney Architects

PUMA West Coast Distribution Center | PUMA | Coastal Pacific Construction, Inc. | AEPC Group, LLC

Sunset La Cienega Residences | CIM Group | Suffolk Construction | Lorcan O’Herlihy Architects / Skidmore, Owings & Merrill LLP

2/8/2018 7:02:27 PM

FEBRUARY 12, 2018


2018 PROJECT NOMINEES Sycamore Hills Plaza | GPI Companies | W.L. Butler Construction, Inc. | Architects Orange

United Pacific Corporate Headquarters | United Pacific | Oltmans Construction Co. | DRA Architects

Terasaki Research Institute | Taslimi Construction Company, Inc. | Atelier Hitoshi Abe / House &

USC Village | University of Southern

Roberston Architects, Inc.

UCLA Health Training Center, Home of the Los Angeles Lakers | Owner: LAL Property, LLC | Morley Builders, Inc. | ROSSETTI Architects / Perkins+Will / Project Manager Pica & Sullivan Architects Ltd


California | Hathaway Dinwiddie Construction Company | Harley Ellis Devereaux

Waldorf Astoria Beverly Hills | Alagem Capital Group LLC / Oasis West Realty LLC

| MATT Construction | Gensler / Perkins + Will / Pierre-Yves Rochon Inc.

2/19/2018 10:58:02 AM


FEBRUARY 12, 2018


|DEVELOPER

|GENERAL CONTRACTOR

| ARCHITECT

Wasser, Cooperman & Mandles | CBRE Group, Inc. | Clune Construction Company | IA Interior Architects

William Rolland Art Center (WRAC) | California Lutheran University | Staples Construction Company | Amador Whittle Architects, Inc.

Water Garden- Water Garden Transformation | Water Garden Realty Holding LLC

Wilshire Grand Center | Martin Project Management | Turner Construction | AC Martin

& Water Garden Company LLC | Morley Builders, Inc. | HLW International

Westside Neighborhood School | Westside Neighborhood School | Taslimi Construction Co., Inc. | Rios Clementi Hale Studios

Wilshire Grand Tower | Martin Project Management | Turner Construction | AC Martin

Building & Growing To Meet the Needs of Our Clients When we help our clients achieve their goals. When we help our trade partners grow and succeed. When we build long-term relationships out of reliability, honesty and trust — that’s what it means to be the Best Builder in America.

McCarthy Building Companies, Inc. 20401 SW Birch Street | Newport Beach, CA 92660 949.851.8383 | mccarthy.com


2/8/2018 5:01:42 PM

FEBRUARY 12, 2018


2018 PROJECT NOMINEES WREN | Mack Real Estate Development + AECOM Capital | Benchmark+Tishman Construction, A Joint Venture | Togawa Smith Martin, Inc.

Young Israel of Century City | Young Israel of Century City | Millie and Severson | Gruen Associates + Narduli Studio

It’s easier than ever to find The Community of Business. TM

L ABUSINESSJOURNAL .COM

LOS ANGELES BUSINESS JOURNAL Vol. 39, No. 5

January 30 – February 5, 2017 • $5.00

THE COMMUNITY OF BUSINESS™

Ringer Makes D Series Noise

Green In Bag

By GARRETT REIM Staff Reporter

Bot Home Automation Inc., maker of a video camera-rigged doorbell called Ring, last week raised a $109 million Series D round and said it is aiming for an initial public offering before the end of the year. The Santa Monica firm has Siminoff come a long way since Chief Executive Jamie Siminoff pitched the product on ABC reality TV contest “Shark Tank” and subsequently rejected a tight-fisted investment deal from one of the show’s RINGO H.W. CHIU/LABJ

New Roots: Dante Cardenas at E.D. Produce in Vernon.

TECHNOLOGY: Bot Home’s $109 million feeds IPO buzz.

Please see TECHNOLOGY page 12

Arts District industrial property owners sold on big paydays By DAINA BETH SOLOMON Staff Reporter

D

ante Cardenas packages his oregano, sage, beets, and radishes in Vernon, but just a few years ago he ran his business, E.D. Produce Inc., out of a low-slung warehouse in the Arts District. He sold the 9,900-square-foot space in 2014, once he realized its value had quadrupled over the $1 million dollars he paid for it just a few years previously. “It’s better for me to have something

that I can leave for the future, perhaps to my children,” Cardenas said in Spanish. “Now, I have no thoughts of moving. We’re doing very well here.” The property value is not likely to multiply as it did in the Arts District, but there are other benefits to fleeing the hubbub of the fast-developing downtown neighborhood, with its apartments, offices, and eateries. His was among several companies that have taken flight to industrial centers in Vernon, Commerce, the City of Industry, and South Los Angeles.

“The location became challenging,” said Jae Yoo, a senior vice president at CBRE who marketed Cardenas’ warehouse. “It’s not only because the trucks have to compete against people walking on the streets, which becomes a danger and a liability. What they’re doing is thinking about the future.” As property owners look ahead, many are landing fat paychecks from developers keen on razing or redeveloping old warehouses, while lessees are finding themselves Please see REAL ESTATE page 51

Firm’s Data Storage Plan Out of This World INTERNET: Startups look to satellites for higher security. By GARRETT REIM Staff Reporter

Cloud Constellation Corp. has a farflung idea. As businesses and governments consider ways to protect data in light of increased cyberattacks and surveillance, the startup is offering them a chance to put their informaMAIL TO:

tion out of reach by storing it on servers within satellites orbiting the Earth. Monthly cost While its system to store 3 terabytes has yet to leave the of data in space. ground, the company received a boost last month from Palo Alto commercial satellite manufacturer SSL, which has agreed to build Cloud Constellation’s satellites and invested, along with other backers, an undisclosed sum in the Westwood company.

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Cloud Constellation is projecting it will be able to launch its constellation of 14 low Earth-orbiting satellites by the first quarter of 2019. “The advantage (of our system) is that the data that you are transmitting has no relationship or no exposure to the public networks,” said Cliff Beek, the company’s president. “There are leaks inside the network that we call the internet.” Cloud Constellation is not alone in its pursuit of a space-based data storage and

As Snap Inc. moves closer to an expected initial public offering this spring, the Venice photo-sharing company is going through a rite of passage: defending itself against a slew of legal actions. Lawsuits filed in the last sixth months include an array of complaints targeting the company behind the popular Snapchat app, including claims that parts of the tech unicorn’s underlying product infringe on patent holders’ intellectual property as well as allegations from a former executive that

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REAL ESTATE Plans for two residential towers to be built at the L.A. Times site begin to take shape. BANKING Steven Sugarman’s exit from Banc of California opens up prime Santa Monica real estate.

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