West

After a slow start to the year, big box leasing activity in Los Angeles with more than 200,000 square feet in net absorption.

Paramount Group Inc. has completed the acquisition of a 44% joint venture interest in 55 Second St., which was valued at approximately $402 million or $1,039 per square foot.

“Amidst international economic uncertainty and an increase in global investor interest in alternative investments, we have seen an uptick in foreign investment firms, particularly those in the Gulf, looking to acquire stabilized Class-A office products in the United States,” says Norman Feinstein, vice chairman of The Hampshire Companies.

Sziklas, who will take on the post on Sept.3 and will be based at LaSalle’s corporate headquarters in Chicago, will lead the team of portfolio managers for LaSalle’s U.S. Custom Accounts clients and will be responsible for actively managing portfolios of office, retail, multifamily and industrial investments located throughout the U.S.

New York-based Greystone’s PJ McDevitt originated the loans and Christopher Hilbert of 3G Capital Advisors served as an advisor to the borrower.

The company promoted two finance executives and hired three outside professionals for newly-created positions.