The first week of games was not the only story making headlines as the National Football League commences its 2022-2023 season. Hudson Pacific Properties served as the NFL’s landlord at their—now former—media office headquarters in Culver City. They officially filed a notice with the Securities and Exchange Commission to vacate the 170,000 square foot space …
The country is heading towards a recession, at least according to almost half of the economists recently surveyed by the National Association for Business Economics. Some economists believe we are already in a recession. 47% of economists in the organization’s semi annual survey that was conducted in August felt that the recession will begin this …
San Francisco’s downtown core once accounted for most of the city’s GDP with a 70% sales tax revenue, and 40% of all jobs. And once the pandemic permeated everyday life, mass-vacancies swept across the office sector exposing a vulnerability that could impact the local commercial real estate market. During the aftermath of the “Great Recession” …
Originally published at lbbusinessjournal.com | By Brandon Richardson With the Federal Reserve increasing interest rates four times so far this year, the local commercial real estate market—including industrial, office and retail—is cooling, with properties sitting vacant longer. Asking rents, however, are still strong as uncertainty remains, according to experts. At the onset of the coronavirus …
Centennial Advisers was able to help a client defer $6-million in capital gains tax with this recent transaction in the city of Cleveland, Texas. Our Opportunity Zone team helped them take advantage of Opportunity Zone tax benefits. After setting up a qualifying OZ-fund with our in-house attorney they financed their fund with the gains from …
The city of Norco may be the latest municipality in SoCal to follow suit with development bans on industrial warehouses. If approved the measure would go into effect immediately, uniting regions like Jurupa Valley, Colton, and Redlands who already have at least a 45-day moratorium on new construction; Norco being one of eight cities to …
Via San Gabriel Valley Tribune Ryan Carter BALDWIN PARK — Supporters on Tuesday, Aug. 17, rallied for a proposed new Los Angeles County agency that aims to bolster affordable and fair housing in the region, echoing other recent calls for such housing that have dotted the San Gabriel Valley. Members of Our Future Coalition — …
Larger properties over 1 million square feet were the bulk of the nation’s Top-100 industrial leases through the first half of 2022. The desirability of the asset type is apparent in pockets of SoCal that are experiencing sub 2.1%, even sub 1% vacancy rates. But also, the rest of the nation is pushing to gain …
Elaine Kim, Investment Adviser, Centennial Advisers Tomorrow, Thursday, August 11, 2022, the California state legislature will vote on SB 679, a bill that would create a dangerous law that will impact California landlords and business owners. The bill seeks to create a “Los Angeles County Affordable Housing Solutions Agency.” The agency would appoint a 21-member …
The vacancy rate for office properties in the southern portion of Tustin is 2.6%, while the overall rate for Orange County is 13.3%. Inventory is very low as under 1.5 million square-feet is available in Tustin specifically. It has been very difficult to gain a foothold in the Tustin office market, driving competitive offers up. …
