With limited inventory and historically high values and rental rates, it’s safe to say the Los Angeles industrial market is enjoying an all-time high. [caption id="attachment_181863" align="alignright" width="100"] David Freitag, DAUM Commercial Real Estate Services[/caption] There are several factors contributing to ongoing strength in the market, including a healthy appetite for acquisitions, strong tenant activity and creative solutions to adapt to supply constraints and maximize..
Los Angeles County is facing a significant lack of housing product — an issue that can’t be resolved any time soon. With the fight to limit new development, it is a very uphill and challenging battle that is unfortunate for the economy, business and, most of all, residents. An influx of about 160,000 new residents moved to the county from 2010 through 2015, but we have only seen upwards of 25,000 new housing units built during that same time frame. The demand drivers are extremely..
Alcion Ventures, Genton Property Group Receive $239M to Develop Four Seasons Private Residences in LA
LOS ANGELES — A joint venture between Alcion Ventures and Genton Property Group has received $239 million in financing to develop the Four Seasons Private Residences Los Angeles. Construction has already begun for the luxury project, which features 59 for-sale units. It is scheduled for completion in mid-2019. The Four Seasons Private Residences will be situated across from the Four Seasons Los Angeles at Beverly Hills, near the intersection of Third Street and Wetherly Drive. The..
The Inland Empire multifamily market will retain its solid foundation of positivity this year as the economy again provides a healthy supply of new jobs and freshly formed households seek apartments to rent. The number of new multifamily units scheduled for delivery is a fraction of what it was last year, and this will place downward pressure on vacancy. Tightening vacancy will support another year of above-trend rent growth. [caption id="attachment_181837" align="alignright" width="110"]..
Rescore Property Corp. Receives $100M in Construction Financing for 368-Unit Apartment Building in Hollywood
LOS ANGELES — Rescore Property Corp. has received a $100 million construction loan to develop The Rise Hollywood, a 368-unit apartment complex in Hollywood. The seven-story community will be located at 1331 N. Cahuenga Blvd. The units will feature nine-foot ceilings, wood flooring, stainless steel appliances, quartz countertops, balconies and walk-in closets. Community amenities include a pool, fitness center, yoga room, club room and dog run. The Rise Hollywood is situated near Amoeba..
There was a big shake-up in the big box world with long-time sporting goods staples Sports Chalet and Sports Authority shuttering stores across the county. Macy’s in Mission Valley is also closing, while Nordstrom is shutting down in downtown. Interestingly, Hobby Lobby and the large pet stores seem to be buffered by the big box epidemic. In Chula Vista, two long-time vacant big boxes were finally chopped up into four spaces to accommodate the mid-sized box users. The good news is that big,..
After a decade of scarce industrial development in San Diego County, 2016 marked its strong return. About 1.3 million square feet of industrial/R&D space was completed, which is more than what was delivered between 2013 and 2015 combined. This year is expected to be an even more active year for industrial/R&D speculative and build-to-suit development with an additional 1.4 million square feet currently under construction. [caption id="attachment_182208" align="alignright"..
Rent an apartment or buy a home? That is the question now posed to many Millennials as they face the facts about the high barriers to homeownership that generations before them, at the same stage of life, could easily overcome. But since the Great Recession and the loose homeownership qualifications that helped spawn it, banks and other home-lending institutions have been under the tight-fisted control of government regulators who have demanded, rightly or wrongly, that prospective homeowners..
Expect the Orange County retail landscape to be characterized by continued strong fundamentals and high transaction volumes in 2017. The area remains among the most stable markets nationally—attractive to both high-end and affordable retailers thanks to its high median income and population growth. [caption id="attachment_182195" align="alignright" width="100"] Matt Hammond, Coreland Companies[/caption] However, a bit of volatility would be welcomed in the coming year to generate..
The Los Angeles office market continues to experience steady demand and accelerated rent growth as we enter 2017. The market is heading into its sixth consecutive year of expansion, after seeing a sharp contraction between 2008 and 2011. The Los Angeles office market has witnessed vacancy rates steadily decline from 16.3 percent to 13.7 percent since 2011, all the while absorbing more than 10.5 million square feet of occupied space. The market only added 4.5 million square feet of new..