Business Services Industry
Real estate market solid in Los Angeles County.(L.A. COUNTY)
Kiplinger California Letter, The, September, 2007
So there's a credit crunch? Don't tell Hollywood about it.
Investors are snapping up studio lots for homes and offices as well as film operations. GI Partners has sold Sunset Gower Studios, the former Columbia Pictures site, to Hudson Capital for $200 million. The Carlyle Group has bought Manhattan Beach Studios for $150 million. Now film and TV producers are putting their land on the block, including the former Warner Bros. studios and Channel 13's facility.
Property is hot in the Westside, too. A big industrial site in Santa Monica has been sold for $75 million...a hefty $364 per sq. ft.
The construction market is solid, with 50 projects in the works valued above $100 million each, such as condos, hospitals and rail lines.
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