Fed Holds Key Interest Rate Steady

The Fed voted unanimously to keep the rate at a target between 1.75% and 2%.
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1530 Flower Street in Glendale LEASED!

Mike Maniscalchi, SIOR and Tony Maniscalchi, SIOR represented the landlord in the lease of this 6,453 SF creative office building on 11,798 SF of land; zoning: IND; various clear heights; 11 parking spaces (13 with tandem).  For more information, contact Mike, x135 or Tony, x126 at (818) 956-7001.

Land Sold For $8,500,000!

Randy Stevenson and Kris Hons represented the seller in the sale of 40,451 SF of land at 523 N. Central Ave. & 314-324 W. Doran St. in Glendale. For more information, contact Randy x155 or Kris x127 at (818) 956-7001.

 

California Jobs Numbers Close Out 2017 on Strong Note

According to the Beacon Employment Report, the latest numbers from the California Employment Development Department show the state adding 52,700 jobs in December.
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Multifamily Market Will Hit Records in 2017

Nearly two-thirds of metros will end the year with vacancy rates below their historical averages. In these areas, demand continues to outpace supply, which allows rents to keep rising.  Full Story

5914 San Fernando Road SOLD!

Mark Miller represented the seller in the sale of this 4,422 SF freestanding light-industrial building (including approx. 1,085 SF of office showroom) on 9,001 SF of land; zoning: GLIMU; for more information, contact Mark at (818) 956-7001, x133.  

209 E. Alameda Ave. & 212 E. Valencia Ave. in Burbank SOLD!

Mike Maniscalchi, SIOR and Tony Maniscalchi, SIOR represented both seller and buyer in the sale of this 15,000 SF office building on 20,702 SF of land. For more information, contact Mike, x135 or Tony, x126 at (818) 956-7001.

Fed Leaves Interest Rates Unchanged

The Federal Reserve left interest rates unchanged and conveyed a tad more concern about recent inflation trends, clouding the prospects for when the next rate hike might come.  Full Story

Existing Building Energy and Water Efficiency (EBEWE) Ordinance Deadline is Approaching!

This July 1, the City of Los Angeles will require Energy and Water Efficiency Benchmarking for existing buildings including:
•Commercial
•Industrial
•Multi-family
By 2019, every building needs to be audited and disclosed; building owners must comply every five years.
Additional Information

One-Year Market Outlook Bolstered by Confidence in Employment, Occupancy Rates

Prospects for the CRE market moving ahead at a more robust pace are higher than what was expected six months ago, according to the latest NAIOP Sentiment Index conducted earlier this spring.  Source: Costar.com  Full article