LOS ANGELES-Executives from Newmark Grubb Knight Frank say the lagging office lease market may be more than a blip. It could reflect the future trend of collaborative work environments.

LOS ANGELES-The CIM Group has acquired 8436 3rd St., long-time home to the Directors Guild pension and health fund. They plan to renovate and possibly occupy the building.

HAWAIIAN GARDENS, CA-The Hawaiian Gardens Town Center will have a Walmart Neighborhood Market as its new anchor. It's the fifth grocery store added by the retail giant in L.A. County.

LOS ANGELES-Esprit, a luxury multifamily complex with 437 units and 227 boat slips in toney Marina del Rey, has its leasehold change hands for $225 million. It is one of the largest recent multifamily mixed-use transactions in L.A.

LOS ANGELES-The City Council approval for a tax break will speed development on a San Fernando Valley mall complex, says Westfield. The application will now be reviewed by the Council's Budget and Finance committee.

LOS ANGELES-The Century Plaza Hotel, site of this year's RealShare Los Angeles, is nominated for designation as a Historical Cultural Monument.

LOS ANGELES-A new joint venture will seek to find and nurture the next generation of commercial real estate professionals.

LOS ANGELES-CBRE's Q2 report on office and industrial vacancy shows office vacancy unchanged, but industrial showing good absorption.