SOLD FOR $15,200,000!

PLAZA 111
107-117 E. Broadway & 105-113 N. Artsakh Ave.
Glendale, CA 91205
Mark Miller represented the seller in the sale of this three-level office/retail property with ground floor retail including King Taco, Khinkali House Dumplings, Gabriella’s New York City Pizza and Studio Kay along with second and third floor office space. There is a passageway which provides access between Brand Boulevard and Artsakh Avenue, and to the City parking structure with approximately 694 parking spaces and 90 minutes free parking. Located in the heart of Downtown Glendale in The Exchange, Plaza 111 is walking distance to an abundance of restaurants, shops, entertainment venues and services including heavily trafficked Brand Boulevard as well as The Americana at Brand and Glendale Galleria. For more information, contact Mark at (818) 956-7001 x133. Mark Miller DRE #: 00689650. Stevenson Real Estate Services DRE #: 00983560.

SOLD FOR $8,000,000!

Critical Housing Bills Signed by Governor

California lawmakers are seeking creative ways to enable local governments to meet their long-term housing needs and produce housing more quickly. SB 10 allows cities and counties to up-zone certain properties for up to ten dwelling units without California Environmental Quality Act (CEQA) review; SB 9 allows for the approval of duplexes and two-lot parcel maps without CEQA review; and SB 8 extends the term of the Housing Crisis Act. Full Story

Federal Reserve Chairman Jerome Powell indicated that the central bank is likely to begin tapering before the end of the year.

But he said rate hikes aren’t imminent as there is still “much ground to cover” before the economy hits full employment.  The speech was part of the Fed’s annual Jackson Hole, Wyoming, symposium. Full story

5 Key Takeaways from the July Jobs Report

The numbers in the report were certainly strong, with employers adding 943,000 more jobs to their payrolls than they cut Full Story

Powell says it’s ‘highly unlikely’ the Fed will raise rates this year

Despite what he sees as a rapidly recovering economy, Federal Reserve Chairman Jerome Powell has reaffirmed the central bank’s commitment to keep loose monetary policy in place. Full Story

Powell plays down inflation — again — while Yellen sees possible return to full employment by 2022

…the housing market “has more than fully recovered from the downturn,” the central bank head noted. “Business investment and manufacturing production have picked up…” Full Story

Fed keeps key rate near zero and still expects no hikes through 2023 despite brighter economic outlook

The Fed also stepped up its economic forecast, predicting growth of 6.5% this year as unemployment falls from 6.2% to 4.5% by year-end. Fed officials believe a key inflation measure will hit 2.1%, just above their 2% target, in 2023. Full story

Stephen M. Baker 2020 #1 Producer

Stevenson Real Estate Services recognizes Stephen M. Baker as the company’s #1 producer for 2020.  Steve has been with the company for 32 years and brings a breadth of knowledge and expertise to the table. If you are looking for exceptional representation in your next commercial real estate transaction, Steve Baker is the broker for you.  He represents Buyers, Sellers, Tenants and Landlords.  His business is client oriented involving all types of transactions: land, office, industrial, retail, apartments, specialty properties and even the occasional single-family home.  Steve and his wife Cindy built their Santa Monica home from the ground up, and they own and operate both residential income and multi-tenant industrial properties.  Steve knows firsthand the needs and challenges of owners and tenants alike, which means he understands and relates to those he represents.  We congratulate Steve on an exceptional year and look forward to his continued success.  Steve can be reached at (818) 621-8245.  DRE #: 00981810.  Stevenson Real Estate Services DRE #: 00983560.

Fed Chair Powell says policy will need to stay “patiently accommodative.”

The Fed is keeping its benchmark short-term borrowing rate anchored near zero and is buying at least $120 billion of bonds each month. Full Story