Los Angeles Business Journal

5 days ago | labusinessjournal.com | Zane Hill

The first domino has tipped: a 6.4% drop in cargo container movement at the San Pedro Bay port complex. The Port of Los Angeles had 716,619 containers processed in May, a drop by about 5% from the prior year, while the neighboring Port of Long Beach’s 639,160 containers represented an 8% drop. It was the lowest volume of cargo handled by either port since the first half of 2023.

5 days ago | labusinessjournal.com | Zane Hill

Canyon Partners Real Estate provided two senior bridge loans for the refinancing of local multifamily complexes: $41 million for SaltAire, a 132-unit property in Torrance, and $38 million for Artisan Oaks, a 160-unit property in Santa Clarita. These deals are emblematic of present opportunity in the debt space, according to Jacob Feingold, head of originations at Canyon.

5 days ago | labusinessjournal.com | Zane Hill

In a deal likely to remain one of – if not the – top blockbusters in Los Angeles this year, the Buss family will reportedly sell its controlling stake of the Los Angeles Lakers. Billionaire Mark Walter, who heads the ownership team for the Los Angeles Dodgers, is slated to take controlling ownership of L.A.’s storied basketball franchise, according to multiple media reports. The deal is slated to value the Lakers at $10 billion, a new record for American professional sports franchises.

1 week ago | labusinessjournal.com | Zane Hill

Construction wrapped earlier this month on a new Public Storage location in Historic South Central Los Angeles, less than a mile from USC. Designed by Irvine-based Ware Malcomb, the new self-storage facility at 3625 S. Grand Ave. replaced a former nine-story storage facility that was demolished. Sitting at more than 260,000 square feet, the new Public Storage building hosts 4,448 storage units ranging in size and includes a mix of climate-controlled spaces.

1 week ago | labusinessjournal.com | Zane Hill

Hennessey Digital, a digital marketing firm in the San Fernando Valley focused on a law firm clientele, was last week acquired by a larger marketing vertical. Seattle-based Herringbone Digital, a marketing agency backed with funding from Dallas-based Trinity Hunt Partners, announced its transaction with Hennessey Digital on June 11. It represents Herringbone’s first foray into the law marketing space.