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BURBANK MULTI-FAMILY SECONDHAND SMOKE CONTROL ORDINANCE AMENDMENT

March 28, 2011

The most recently adopted version of this ordinance shall become effective May 1, 2011.  The original Secondhand Smoke Control Ordinance had an effective date of May, 2007.

Click here to get answers to frequently asked questions and find out about an informational meeting on March 30, 2011 concerning the recently adopted ordinance which becomes effective May 1, 2011.

Commercial & Industrial Building Owners Can Reduce Energy Consumption by 95%

March 10, 2011

Stevenson Real Estate Services has developed a unique relationship with a technology company that converts an AC unit from an energy guzzler to a more efficient hybrid much like a hybrid car uses a battery for the gas engine to increase efficiency.  The AC unit will consume 95% less energy during the peak of the day because the state of the art unit stores energy at night and delivers that energy during peak hours.  Maintenance of an existing HVAC unit remains the building owner’s responsibility.  Qualified buildings must be structurally sound, three stories or less, and have HVAC systems compatible with the energy saving technology.  85% of HVAC units are compatible.  Buildings built before 1950 do not qualify, and there are 150 buildings in Glendale that are qualified.  The impact on a building is a 15% reduction in its power bill.  Energy costs are predicted to increase by 4% per year.  For more information, please contact any of our brokers at 818-956-7001. 

Commercial Real Estate Comeback

February 28, 2011

CoStar Group CEO Andrew Florance discusses commercial real estate pricing trends on CNBC’s Squawk Box…providing insight on the “Commercial Real Estate Comeback.”  Exciting changes are taking place in the commercial real estate market—especially for those prepared to meet them.  Click here to see video. 

Film Firm Moving Jobs to Glendale

February 16, 2011

GLENDALE NEWS-PRESS. Mike Maniscalchi…said the vacancy rate for industrial sites in Glendale and Burbank is between 6% and 7%, far lower than the 17.7% commercial vacancy rate in Burbank or the 23.6% commercial vacancy rate in Glendale…Tony Maniscalchi…member of the city’s task force on the San Fernando Road corridor, said the city can do more to promote the presence of creative firms…

Please click here for full story

Commercial Real Estate Overview by Patrick Long

January 19, 2011

For the first time in two and a half years, I have a very positive outlook for our local commercial real estate market.  Activity is way up since the last quarter of 2010 and pricing in the market has stabilized.  Buyers and sellers can get a real understanding of where the market is heading because there are more transactions and comparables to base pricing off of.    (more…)

NAR: The Real Estate Market has Hit Bottom

November 30, 2010

WASHINGTON, DC-At long last, it is here: the bottom of what has been the worst real estate and capital market cycle in anyone’s recent memory. So says National Association of Realtors’ commercial economist George Rheiu. “There are multiple indicators suggesting that, on the commercial real estate side at least, we have hit bottom,” he tells GlobeSt.com. The most recent indicator was the upwardly revised GDP figures, now at 2.5%

Please click here for full story

NREI and Green Building Council Release Results of 2010 Green Building Survey

November 29, 2010
  NREI and Green Building Council Release Results of 2010 Green Building Survey
Posted by Stevenson Real Estate
If a city or state wants to encourage environmentally responsible commercial real estate development, one of the most powerful tools it can use is tax incentives. That’s a key finding of the 2010 Green Building Survey conducted by National Real Estate Investor in partnership with the U.S. Green Building Council.

A whopping 77% of corporate executives responding to the survey say they would find tax incentives the most beneficial among enticements for retrofitting green buildings. An overwhelming 75% of the corporate respondents say green initiatives have proven to lower operating costs. (more…)

Chinese Agency Downgrades US Credit Rating: Should You Care?

October 18, 2010

It’s unlikely to impact China’s decision to hold Treasurys. There’s no other market that can house the size of capital that they have. Full story: http://www.bityurl.com/2ad456. Source: CNBC.com

Downey Shopping Center Sells for $11M

September 28, 2010

Downey Shopping Center Sells for $11M
Southland Development Sells Gallatin Plaza
By Keith Dornin

September 21, 2010

Furst Enterprise Asset Management purchased Gallatin Plaza, a 65,817-square-foot shopping center at 9200-9250 Lakewood Blvd. in Downey, CA, from Southland Development Co. for approximately $11 million, or about $167 per square foot. (more…)

House Passed SBA Small Business Stimulus Bill

September 24, 2010

GOOD NEWS! The House passed the SBA version of the Small Business Stimulus Bill earlier today. The Bill, HR 5297 now moves onto President Obama for signature, which is expected early next week. This means that SBA fees will be eliminated on all 7A loans and drastically reduced on 504 loans. It also increases the SBA guaranty on 7A loans up to 90%. Both of these policy changes are immediate and run through December 31, 2010. In addition, the Bill calls for the future implementation of an increase in SBA 7A loans to $5.0 million and 504 loans to $5.5 million and will allow for debt re-financing through the 504 program. Debt refinancing through the 7A program will continue to be available also.

(more…)