The industrial market in Southern California is the tightest in the nation, in particular, Inland Empire industrial. JLL’s Q2 industrial market report for the IE registered another 13.7% increase in asking rates, while vacancies have trended down by 0.4%. A 158,000 square foot Santa Fe Springs industrial property that initially traded for $36M in January …
In the fall of 2019, a client reached out to our Mid-Cities Multifamily Specialist Stelios Zoumberakis. He was weeks from selling a retail/multifamily mixed-use building in rent controlled Los Angeles, off-market, and was shopping for uplegs. It was a problem for him because he had no representation, and found himself in the unfamiliar world of …
Rents across the nation took their largest monthly jump since 1986 according to the U.S Bureau of Labor Statistics. June rents spiked 0.8% totaling 5.8% year-over-year. According to BLS, all-items inflation for the month of June registered a 1.3% spike, and 9.1% YOY which is also unprecedented since 1981. In addition, Apartment List reports its …
A beat up and rugged looking Volkswagen Beetle sat parked on the side of the road in Tulum, Mexico. Surrounded by lush greenery and the saltine air of the Caribbean Sea, the scent of fresh coffee drifted into nostrils inspiring the story of “Sunny” and Farm Cup Coffee in West Hollywood. The coffee culture in …
Once a leader in water-conservation efforts in the area, the 7-acre property where Hotel Fullerton stood since the 1960’s will be redeveloped into industrial property. The $45 Million purchase adjacent to the 91 Freeway represents the high-demand of industrial redevelopment present in Orange County. The move is noted as significant because we typically see office-use …
Although the entirety of the nation will be enraptured over the Super Bowl this Sunday, the city of Los Angeles is more anxious about the future of its Hollywood Park development than some football game. The NFL knows it has a tremendous economic impact, at least momentarily, on cities that host the Super Bowl. The …
Los Angeles is leading the nation in hotel room construction despite a 64% occupancy rate to end 2021 as reported by L.A Business First, citing Lodging Econometrics. The hospitality sector—next to retail—took a severe blow due to the pandemic, but ‘leisure-travelers’ are largely responsible for the city reaching 100% of its pre-pandemic hotel room booking …
