Once-Tired PacMutual Plaza Is Prime Office Space Again

| December 21, 2016

article image
In a sign that the definition of prime office space is undergoing a dramatic shift, an old downtown Los Angeles office complex — once considered second rate — is now outperforming many of its newer, glitzier competitors.PacMutual Plaza, which dates to 1908, was one of the best addresses in Southern California until an unprecedented office building boom in the late 1980s and early 1990s brought a stately new crop of skyscrapers to town.For decades to follow, PacMutual — in the same block as the Biltmore hotel in Pershing Square — was a lower-cost alternative to such elite enclaves of corporate America as U.S. Bank Tower, Two California Plaza and the Gas Company Tower.As a young real estate professional in the late 1990s, Christopher Rising was informed that "PacMutual was for people who wanted to think they were in Class A space when they really weren't," he said.

Spotlight

Kemper Development Company

Kemper Development Company is a fourth-generation, family-owned company whose growth has mirrored the astounding boom of the Eastside of Puget Sound. What began as a 16-store shopping center more than 60 years ago has become an internationally renowned hub of life and entertainment, work and leisure, relaxation and pleasure all at the epicenter of one of the country’s most sophisticated, fastest-growing markets.

OTHER ARTICLES

What Is Proptech?

Article | February 27, 2020

Proptech now disrupting the marketplace ranges from artificial intelligent, automation and smart buildings to the use of big data, blockchain and cloud-based computing. Proptech, a portmanteau from “property technology”, is used to describe any technology for the real estate space. These days, it is a common phrase recognised by real estate professionals to define property-specific innovation. Proptech addresses fundamental questions of how users experience and extract value from real estate. Whether it’s planning or construction, renting or buying, management or selling, the Proptech ecosystem is increasingly comprehensive—and competitive.

Read More

Everything you need to know about 1031 Exchange.

Article | March 9, 2020

A 1031 exchange is used by savvy real estate investors to defer paying capital gains tax on the sale of an investment property. This is allowed by exchanging the first property for a second property the investor wishes to purchase. To put this in perspective, you would rolls the taxes of the sale of first property into the new property, deferring it until the sale of second property. Effective use of 1031 exchanges allows investors to leverage the proceeds of an investment property sale to build bigger real estate portfolios. Essentially, if you sold a building for $500,000, you would lose, say, $150,000 to taxes. With a 1031 exchange, you might be able to use the entire half a million dollars to purchase one or more properties. Normally, you would have $350,000 after paying taxes on a sale of your investment property which it would put a limit to potentially buy property in the future. By implementing a 1031 exchange, your purchasing power goes up almost 30%. That sounds like a pretty good deal—and a deferred 1031 exchange is one way to potentially help you achieve it. We use 1031 exchange with majority of our real estate investors. It's a great tax strategy for any real estate investor.

Read More

What’s the Future of Commercial Real Estate?

Article | April 22, 2020

Real estate is a key element of the U.S. economy. Residential real estate provides housing for individuals and families and is a major source of wealth and savings for Americans. Commercial real estate creates spaces for retail, offices, manufacturing, and apartment buildings as well as creating jobs to sell, build, and maintain all these structures.

Read More

Why Company Culture Matters in Commercial Real Estate

Article | February 11, 2020

The pursuit of exceptional people in today’s competitive commercial real estate market is a challenging proposition. DFW has a wealth of talent who could work at any number of prestigious real estate firms. So, what sets one global commercial firm apart from the next? How do we attract and keep the best in the industry to better serve our clients?

Read More

Spotlight

Kemper Development Company

Kemper Development Company is a fourth-generation, family-owned company whose growth has mirrored the astounding boom of the Eastside of Puget Sound. What began as a 16-store shopping center more than 60 years ago has become an internationally renowned hub of life and entertainment, work and leisure, relaxation and pleasure all at the epicenter of one of the country’s most sophisticated, fastest-growing markets.

Events