Op-Ed: It’s a done deal: Your water rate is going up

By Tony Maniscalchi, SIOR.  Utility (water) charges will not be solely based on consumption, but really will be based upon capacity. So the absolute and intentional assault on the business community (nonresidential properties) is staggering. Changes will be a customer charge (or meter charge), a variable charge (all the systems that distribute water), and, of course, consumption charges.  Simply said, if you’re in a building that has the capacity to use a lot of water, you will be paying significantly more per month for the privilege (more…)

Southern California Commercial Real Estate Snapshot

Market fundamentals in all industrial markets remain strong.  In the 4th Quarter of 2012, all office markets in Southern California, with the exception of Los Angeles County, posted slightly lower vacancy levels from the previous quarter.  The outlook for the retail market is for continued recovery.  The Southern California market remains one of the nation’s premier multi-family markets, with low vacancy and high rents.  Full snapshot: http://bityurl.com/2afa89.  Source: Vanguard Realty Advisors Commercial Real Estate Appraisal & Consulting Firm, 4Q 2012.    

CRE Sales Surge As Pricing Recovery Spreads To More Markets

Sales of U.S. commercial real estate reached nearly $64 billion in 2012, jumping 22% from the previous year to the highest annual total since 2004. Source: Costar.com. Full story: http://bityurl.com/af9636.  

Recovering Office Demand Sets Stage For Rent Growth Across U.S.

While overall leasing volume appeared to be somewhat lower in 2012 from the previous year, strong absorption and very limited new construction helped push the U.S. office vacancy rate down 50 basis points over the past year. Full story: http://bityurl.com/8b0fe9. Source: Costar.com  

Cracking the 2013 Tax Code

A guide to the changes wrought by the fiscal-cliff deal http://bityurl.com/819eab Source: The Wall Street Journal Market Watch.    

Senate Bill 1186 Discourages ADA Lawsuit Abuse

It’s already chaptered into law. Here is an attorney’s written advisory obligation when pursuing building owners over ADA violations: 1. must state facts sufficient to allow identification of the basis for a claim, 2. prohibits inclusion of a request for money, 3. must include attorney’s State Bar license number, 4. copy of letter must be sent to the California Commission on Disability Access and to the State Bar. This civil rights bill also limits damages to $1,000 per offense if defendant corrects accessibility violations within 60 days. (more…)

Forecasts & Trends: A Sad State of Affairs

The number of Americans on Social Security Disability Insurance is exploding, even faster than the rate of new jobs created in this country. Likewise, the number of Americans receiving food stamps is at a record high above 46 million and rising.  Ditto for the number of Americans now living in poverty. Are these trends a result of some grand design?  Most Americans are unaware of these developments.  Full article: http://bityurl.com/19766c.  Source: AOAUSA.com. Author: Gary D. Halbert.

Phase One Environment Site Assessment

The purpose of this practice is to define good commercial and customary practice in the United States of America for conducting an environmental site assessment of commercial real estate with respect to the range of contaminants within the scope of Comprehensive Environmental Response, Compensation and Liability Act (CERCLA).  Read more: http://bityurl.com/e50764.  Source: TRAK Environmental Group.  Also, Some Thoughts On Phase I Reliance Letters and CERCLA All Appropriate Inquiry: http://bityurl.com/3fd20.  Source: American College of Environmental Lawyers. 

Risks to Multifamily Overbuilding Averted, For Now

Earlier this year, there were signs that construction would spike in 2013, but developers have postponed many projects to 2014. This means the “bubble” shows up in 2014, but if economic growth ramps up, then additional supply will most likely be absorbed relatively painlessly. Read more: http://bityurl.com/f8510f. Source: ReisReports.com.

City of Glendale News

City officials eye a business fee: http://bityurl.com/5bf8de; Doran Street crossing headed for upgrade: http://bityurl.com/d9e; Ron Kaye: The restructuring of GWP: http://bityurl.com/f738c1; Electric rates stir up crowd: http://bityurl.com/6db6a0; Najarian removed in retaliation?: http://bityurl.com/7a2a50; Good news for Rossmoyne: http://bityurl.com/cae3f8.