downtown LA – Page 13

January 11, 2022January 10, 2022

L.A. Officials Are Taking Steps to Boost The DTLA Biotechnology Industrial Footprint

Redeveloping this tired office park could bring the high wages commanded by bioscience industry jobs

A tired 1980s office complex that could pass for the set of Office Space, is slated for conversion to a life sciences campus. We used to call that biotech and it means prestige tenants and well-paid jobs.

Under the latest plan to increase the city’s profile in the life sciences industry a five-building office park in Downtown Los Angeles could soon be home to a new life sciences campus.

BEP Helix, run by local businessman and biotech investor Ben Pouladian, has bought the leasehold interest in Park DTLA, a five-building, 280,000-square-foot office park at 261 S. Figueroa St., according to Urbanize Los Angeles citing a report in CoStar News.

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City and county officials, cognizant of that gap (and the high wages commanded by bioscience industry jobs), have looked to establish new life sciences campuses at Harbor-UCLA Medical Center and near the Baldwin Hills/Crenshaw Plaza Mall. Likewise, an incubator for life sciences startups recently made its debut on a County-owned site in Culver City.

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Life Sciencesjobs In DTLA and elsewhere in the county would be a boom for the local economy.

Copyright © This free information provided courtesy L.A. Loft Blog with the information provided by Corey Chambers, Realty Source Inc, DRE 01889449; MPR Funding Inc NMLS 2000513. We are not associated with the seller, homeowner’s association, or developer. For more information, contact 213-880-9910 or visit LALoftBlog.com, Licensed in California. All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties are subject to prior sale or rental. This is not a solicitation if the buyer or seller is already under contract with another broker.

December 23, 2021December 22, 2021

Evergrande Defaulted on its Debt – Will That Mean Troubles for the US Economy?

Shanghai at dusk, Huangpu river and financial district skyline in sunset

For the Chinese economy, the hit from the Evergrande failure will shake the system badly. As evidenced by the government stepping in to shore up the company’s day-to-day operations in China.

Peter Cohan, a lecturer at Babson College and author of “Goliath Strikes Back,” told GOBankingRates that Evergrande’s default will have no significant effect on the U.S. economy since it has only $20 billion in U.S. dollar bonds outstanding. Nevertheless, we think this is a moment to knock on wood.

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The size of the bond market is estimated to be at $119 trillion worldwide and $46 trillion for the U.S. market — the Evergrande bonds are 0.04% of the U.S. total,” Cohan said. “Investors in those bonds will suffer losses. The risk of Evergrande’s default has been high for a long time. Those who invested in the bonds should be well-prepared for what is happening now. Even if those investors end up losing everything, the systemic impact will be tiny.” See the source article here.

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