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Valley Area Retail Market Slowly Picking Back Up

By Yair Haimoff, Executive Managing Director, Spectrum Commercial Real EstateThe COVID-19 pandemic slowed or halted markets across the world. But how did Los Angeles fare? Well, the retail market slowed in 2020 as a result of the pandemic, but, fortunately, it is slowly picking up with reopenings and the adoption of the COVID-19 vaccine.Looking back, recent transactions in the retail space have predominantly included food-related deals. With established fast food businesses like …

Small Businesses Make Big Strides in Phoenix’s Retail Market

By Matt Harper, Senior Vice President of Retail, NAI HorizonArizona relies heavily on a robust tourism industry. When COVID-19 hit, it was a massive blow to the hospitality and retail sectors. Coming out of the pandemic, however, the Metro Phoenix retail sector has shown great resiliency, especially mom and pops.Phoenix ended the fourth quarter of 2020 with a positive net absorption of 124,330 square feet of retail space. With negative net absorption in the second and third quarters …

Greater Los Angeles’ Office Market is Bouncing Back

By Steve Solomon, Senior Executive Vice President, and Kristen Bowman, First Vice President, Colliers InternationalGreater Los Angeles leasing activity surged, reaching nearly 3 million square feet in the second quarter. Although higher than the past few quarters, it was significantly lower than the 2019 pre-pandemic quarterly average of 4.6 million square feet. Much of the activity occurred in West Los Angeles, where large expansions and renewals were signed by tech, media and …

Phoenix Multifamily Continues Its Upward Trajectory

By Drew Ricciardi, Research Manager, ABI Multifamily Research ManagerFollowing a chaotic year that left investors on the sidelines, the Phoenix market proved resilient. In fact, it ended up witnessing one of the most significant rebounds nationally. The Phoenix multifamily market exploded with a record start for 2021 and is now considered one of the top multifamily markets in the country.Phoenix continues to see robust population increases due to job growth, quality of life, industry …

Industrial is the Belle of the Ball in LA

By Robert Flores, Senior Vice President, CBRENot too long ago, industrial real estate was generally viewed as an obscure and often unpopular subset of commercial real estate. Instead of owning a concrete box, many investors and developers were drawn to the flashier structures in Central Business Districts and hip submarkets. Fast forward a few short years, and industrial has firmly taken center stage for many who might have previously shunned the sector. The Greater Los Angeles area is one …

Phoenix’s Industrial Market is Firing on All Cylinders

By Rob Martensen, Executive Vice President, ColliersAs a racing driver, it is important that my vehicles fire on all cylinders to run their best. In the Phoenix metro area, the engine cylinders of the industrial market are the different industries, as well as the geographic locations around the Valley where these industries conduct business.First, let’s look at advanced manufacturing. Intel, which already has a large presence in the Southeast Valley, just announced a $20 billion …

Los Angeles’ Apartment Market Turns a Corner

By Mark Ventre, Senior Vice President, Stepp CommercialAs it turns out, COVID has once again delayed hopes of a return to normalized operations for apartment owners. Just when it seemed the shackles that have hindered the ability to raise rents and recoup lost income would be removed, it now appears the light at the end of the tunnel has grown more distant.Fortunately, there have been positive indicators that the economic environment in Los Angeles for the first half of 2021 has …

Phoenix’s Life Sciences Market is on a Record Rise

By Alexandra Loye, Senior Vice President, Healthcare & Life Sciences Services, ColliersDespite global and domestic market challenges from the pandemic, Phoenix continues to shine amongst its competitive Western cities. With Maricopa County being the fastest-growing county in the U.S., Phoenix offers employers a diverse, educated workforce, business-friendly environment and affordable housing options. Arizona’s economy is booming and experiencing record revenue growth, as well as …

Outlying Seattle Submarkets Positioned for Retail Expansion

By Hank Wolfer, First Vice President of Investments, and Derek Peterson, Associate, Marcus & MillichapNational retail chains favor Seattle’s surrounding neighborhoods. Prior to the pandemic, retailers were taking notice of strong demographic trends in the submarkets surrounding Seattle. Between 2009 and 2019, the number of households across the metropolitan area grew by 13 percent, nearly double the national rate. High homeownership costs directed many of those new households …

Outlook is Bright as Orange County Retail Continues to Heal

By Terrison Quinn, Managing Principal, SRS Real Estate PartnersDespite a recent uptick in vacancy from 4.07 percent to 4.5 percent and a softening of rents from $32.99 to $32.55 per square foot, Orange County remains Southern California’s tightest retail market. And retail investors remain bullish for good reasons.Theaters, gyms and other uses shuttered by the pandemic have reopened to greater-than-expected customer demand. In fact, several health club chains have reported they are …

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