Back Home209 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
Commercial Real Estate Markets to Stay Strong in 2017
With demand strengthening in commercial real estate markets, the sector should remain on stable ground in 2017 and offer decent returns for investors, according to the latest National Association of Realtors commercial real estate forecast. Full Article
Measure S Defeated After a Heated, Costly Battle Over Future L.A. Development
Labor and business leaders declared victory Tuesday night over a bitterly contested ballot measure that would have imposed new restrictions on building apartment towers, shops and offices in Los Angeles. Full story
Bankers Stick to “Bread and Butter” Loans
Bankers Stick to “Bread and Butter” Loans. The Mortgage Bankers Association (MBA) is projecting that originations of commercial and multifamily mortgages will grow by 4.0 percent to $537 billion in 2017. Another 2.0 percent increase is expected in 2018, with originations forecast to reach $546 billion. Full story
Fed Leaves Interest Rates Unchanged
The Fed’s statement to leave interest rates unchanged reaffirmed that the economy is continuing to grow moderately and that the central bank is maintaining an easy-money policy to further boost the labor market and return inflation to a more favorable level. Full story
2017 NEW LAWS AFFECTING THE REAL ESTATE INDUSTRY
Disclosures Liability Protections of Environmental Hazards Booklet Extended to Landlords. Employment $15 Minimum Wage. Employment Mandated State Retirement Savings Program Enrollment. Housing “Accessory Dwelling Units.” Landlord/Tenant Unlawful Detainer Reporting. Parcel Tax Vote Notification. Water Use Fines may be imposed for “excessive water use.” *Information gathered from Government websites. For full details, please refer to the entire law/ordinance. The information is provided by Stevenson Real Estate Services as a courtesy and is deemed reliable but not guaranteed. More Information
L.A. Passes Measure JJJ, The Affordable Housing Mandate
Measure JJJ makes it a requirement that developments that require changes to zoning codes set aside a certain percentage of units available for low-income residents. It also requires these projects to hire workers from the City of Los Angeles, and includes incentives for the developments to be built near public transportation. Full Story
