Landlord once again. (Real Estate).The low interest rate bug has bitten Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. . The city purchased the recently completed Marvin Braude Marvin Braude (August 11, 1920—December 7, 2005)served as Los Angeles City Councilman for the 11th district from 1965 to 1997. At various times Mr. Braude (pronounced BROW-dee) served as chair of the Finance and Revenue Committee, the Environmental Quality and Waste San Fernando Valley San Fernando Valley Valley, southern California, U.S. Northwest of central Los Angeles, the valley is bounded by the San Gabriel, Santa Susana, and Santa Monica mountains and the Simi Hills. Constituent Service Center in Van Nuys from developer Voit Development Co. The purchase price for the property on Van Nuys Boulevard was $31.5 million, which included the 142,000-square-foot building that houses offices for the departments of Transportation, Finance and Building and Safety. The city already owned the 2.3-acre parcel underneath the building and had brought on Voit, which has developed Warner Center Plaza and Van Nuys Center at the Plant, to work on the site. By purchasing the property, the city exercised its option to buy back the 30-year master lease Voit originally signed. In 2001, a deal was struck to lease the building from Voit for the carrying costs Carrying costs Costs that increase with increases in the level of investment in current assets. of the loan Voit took out to build the site, about $2.35 a foot, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Tim Regan, vice president at Voit. "They can borrow money at a lower cost than what it would have cost for us to get a permanent loan," Regan said. Staff reporter Danny King can be reached at (323) 549-5225 ext. 230, or at dking@labusinessjournal.com. |
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