Brookfield Corp. has handed over control of a second building this year in Los Angeles as the city’s downtown faces rising vacancies and falling office values.
EY Plaza, a 41-floor tower that opened in 1985, is now being managed by a receiver, according to a statement from brokerage Colliers, which is handling the building’s leasing and property management.
The office vacancy rate in downtown Los Angeles reached a record 30 per cent in the first quarter, according to Savills, one of the highest of major U.S. city centers. Office prices in LA are forecast to fall as much as 55 per cent by 2030 from their pre-pandemic peaks, Boston Consulting Group reported this month.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Lakers hoping LeBron James decides to continue career after playoff eliminationThe Los Angeles Lakers hope LeBron James will decide to continue his career after he recovers from the difficult end to their season.
Read more »
Nvidia ignites AI-related stock rally after 'blow-out' forecast - BNN BloombergNvidia Corp.’s forecast for surging revenue surprised even the most bullish analysts on Wall Street, propelling the chipmaker to the cusp of a US$1 trillion market capitalization and igniting a global jump in stocks linked to artificial intelligence.
Read more »
Swiftsure race will test teenage Sea Scouts mentally and physically“They are going to be tired. They are going to have to do about 100 sail changes. They are going to have to perform in the middle of the night,” says Port Angeles group’s leader
Read more »
Hatch wins two ACEC-Ontario Awards of Distinction - constructconnect.com - Daily Commercial NewsMISSISSAUGA — Mississauga-based engineering firm Hatch won two Awards of Distinction recently as the Association of Consulting Engineering Companies - Ontario (ACEC-Ontario) hosted its 20th annual Ontario Engineering Project Awards. The association hande
Read more »
Freedom Mobile unveils first nationwide plan following Rogers-Shaw deal - BNN BloombergFreedom Mobile will offer a $50 plan that includes unlimited calls and texts as well as 40 GB of data usable nationwide and in the U.S. following its acquisition by Quebecor Inc.'s Videotron.
Read more »