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.
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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