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Old February 27th, 2006, 01:39 AM   #301
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Quick question..... is Metropolis still on schedule, regardless of the lawsuit by that idiot across the street?
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Old February 27th, 2006, 01:54 AM   #302
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Top Floors of Downtown�s Aon Center Set to Go Condo
By ANDY�FIXMER - 2/27/2006
Los Angeles Business Journal Staff

The owners of the Aon Center, the second tallest skyscraper in downtown Los Angeles, are looking to convert 10 upper floors of the 62-story building into condominiums, according to sources close to the deal.


Broadway Real Estate Partners LLP has hired CB Richard Ellis Group Inc.�s Todd Doney and Mark O�Brien to market floors 51 through 60 of the tower at 707 Wilshire Blvd.


The New York-based real estate investment group paid $192 million for the entire building eight months ago and is now seeking $50 million, or about $260 a foot, for the 10 floors, the sources said. That would be a nice deal for Broadway Partners, which paid about $160 a foot for the space.


The Aon Center was the building formerly known as First Interstate Tower. It was the site of a 1988 blaze that was L.A.�s worst skyscraper fire.


Calls seeking comment from Doney, O�Brien and Broadway Partners� Scott Sorensen weren�t returned.


Already, the sources said Broadway Partners has spoken to a number of interested parties, and the firm has a letter of intent close to those terms with a partnership of L.A. developer Kor Group Inc. and real estate private equity firm Lubert-Adler Management Inc. The partnership�s letter of intent would give it the option of buying up to nine additional floors.


Tyson Sayles, Kor Group�s senior vice president of acquisitions, declined to comment on the existence of a letter of intent with Broadway Partners. However, he said the firm likes the idea of building condos at the Aon Center.


�There�s no transaction in place,� Sayles said. �But it�s definitely an opportunity that we would be interested in.�


In recent years the Kor Group has begun converting several older office buildings, including the Eastern Columbia building in downtown L.A. and the Broadway building in Hollywood, into condominiums.


The sources said a deal is dependent upon a number of contingencies, including renegotiating a lease with insurance giant Aon Corp. and getting government approvals for a subdivision and a tract map.


However, one of those contingencies is close to being resolved. Broadway Partners is close to finalizing a lease with Aon that would allow the company to consolidate its space on lower floors.


Aon�s lease is close to expiring and the company has been searching for 160,000 square feet � down from the roughly 200,000 square feet it currently leases.


So even if the condo deal with Kor Group fails to materialize, Aon would be secured on the lower floors. That would leave the higher-rent, top floors available for lease.
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Old February 28th, 2006, 09:03 AM   #303
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Old February 28th, 2006, 09:03 AM   #304
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8th & Grand - Astani Enterprises

This project is slated for the surface parking lot behind The Brockman and Mandel Lofts. I think this project has lots of style and is probably the most sexy project in downtown LA!

















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Old February 28th, 2006, 03:20 PM   #305
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Very nice looking project.
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Old February 28th, 2006, 05:04 PM   #306
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I wish I had more time to scroll through these pages and check out all the projects, but there's just so much. LA is on a roll. Of all the cities that are experiencing building booms right now, I think LA's will change the character of the city the most. There seems to be a lot of everything going on.

Someone had mentioned that they might do a rendering of what the city will look like once all these projects get done. I couldn't find it, but if that rendering does exist, could someone please repost it? I'd love to see it. LA is awesome.
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Old March 1st, 2006, 01:02 AM   #307
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1540 North Vine








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Old March 1st, 2006, 01:44 AM   #308
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L.A. is definately on a roll! I love the 8th and Grand rendering.
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Old March 1st, 2006, 03:17 AM   #309
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Quote:
Originally Posted by PeterSmith

Someone had mentioned that they might do a rendering of what the city will look like once all these projects get done. I couldn't find it, but if that rendering does exist, could someone please repost it? I'd love to see it. LA is awesome.
Is this it?

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Old March 1st, 2006, 03:19 AM   #310
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the skyline there has to many gaps. Id like to see it denser.
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Old March 1st, 2006, 04:04 AM   #311
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[/QUOTE]


Man, even in that picture LA has smog. Cough, cough
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Old March 1st, 2006, 04:32 AM   #312
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and where do you see that smog? those are clouds. Also, Robert, the gaps you mentioned mostly have projects slated for them, they just havent been included in this picture.
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Old March 1st, 2006, 04:42 AM   #313
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Quote:
Originally Posted by Threehundred


Top Floors of Downtown?s Aon Center Set to Go Condo
By ANDY?FIXMER - 2/27/2006
Los Angeles Business Journal Staff

The owners of the Aon Center, the second tallest skyscraper in downtown Los Angeles, are looking to convert 10 upper floors of the 62-story building into condominiums, according to sources close to the deal.


Broadway Real Estate Partners LLP has hired CB Richard Ellis Group Inc.?s Todd Doney and Mark O?Brien to market floors 51 through 60 of the tower at 707 Wilshire Blvd.


The New York-based real estate investment group paid $192 million for the entire building eight months ago and is now seeking $50 million, or about $260 a foot, for the 10 floors, the sources said. That would be a nice deal for Broadway Partners, which paid about $160 a foot for the space.


The Aon Center was the building formerly known as First Interstate Tower. It was the site of a 1988 blaze that was L.A.?s worst skyscraper fire.


Calls seeking comment from Doney, O?Brien and Broadway Partners? Scott Sorensen weren?t returned.


Already, the sources said Broadway Partners has spoken to a number of interested parties, and the firm has a letter of intent close to those terms with a partnership of L.A. developer Kor Group Inc. and real estate private equity firm Lubert-Adler Management Inc. The partnership?s letter of intent would give it the option of buying up to nine additional floors.


Tyson Sayles, Kor Group?s senior vice president of acquisitions, declined to comment on the existence of a letter of intent with Broadway Partners. However, he said the firm likes the idea of building condos at the Aon Center.


?There?s no transaction in place,? Sayles said. ?But it?s definitely an opportunity that we would be interested in.?


In recent years the Kor Group has begun converting several older office buildings, including the Eastern Columbia building in downtown L.A. and the Broadway building in Hollywood, into condominiums.


The sources said a deal is dependent upon a number of contingencies, including renegotiating a lease with insurance giant Aon Corp. and getting government approvals for a subdivision and a tract map.


However, one of those contingencies is close to being resolved. Broadway Partners is close to finalizing a lease with Aon that would allow the company to consolidate its space on lower floors.


Aon?s lease is close to expiring and the company has been searching for 160,000 square feet ? down from the roughly 200,000 square feet it currently leases.


So even if the condo deal with Kor Group fails to materialize, Aon would be secured on the lower floors. That would leave the higher-rent, top floors available for lease.
I think the Aon Centre would be better off as a full office building than converting the top floors to condos!
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Old March 1st, 2006, 05:40 AM   #314
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Quote:
Originally Posted by Westsidelife
Is this it?

It's certainly a good start. Thanks for posting that. LA is gonna be even more awesome than it already is. And about those gaps, I'm sure LA won't have any trouble filling them up. They seem to be managing their urban development pretty well these days.
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Old March 1st, 2006, 06:23 AM   #315
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Added 8th & Grand and AON Center to the main page.

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Old March 1st, 2006, 08:08 AM   #316
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Damn I love that future L.A. skyline photo, can't get enough of it.
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Old March 1st, 2006, 09:59 AM   #317
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I'm just about ready to die with that 8th & Grand rendering!!!!!!!
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Old March 1st, 2006, 07:59 PM   #318
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love that future la skyline. now if i only had a couple spare millions laying around...
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Old March 1st, 2006, 08:45 PM   #319
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Gap or no gap L.A's future skyline is still going to be nice. I like that its extending.
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Old March 1st, 2006, 09:11 PM   #320
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the skyscrapers' density is low,Los Angeles is very spread out with many freeways which slit the city,it's ugly but i like the US bank Tower that i saw for the first time in the movie "Independance Day"....
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