Hertz Group to Buy 2 L.A. Properties

Continuing its downtown Los Angeles buying streak, investment company Hertz Group of Los Angeles agreed this week to purchase two commercial properties worth more than $20 million. The company will buy California Jewelry Mart, a 144,000-square-foot building at 607 S. Hill St., owned by CA Jewelry Mart Realty Corp., for just over $10 million. Hertz also branched out into Chinatown, snapping up Bamboo Plaza, a large retail center owned by Cathay Bank that contains the Emperor’s Pavilion restaurant and a Chinese grocery. The deals will close in March and April, respectively.