Northridge Warehouse for Lease

18555 Eddy Street in Northridge is a freestanding industrial warehouse for lease. The steel frame structure, concrete block and corrugated metal building is approximately +/- 7,040 SF. This Northridge warehouse has one large 14x14 ground level electrical roll up door and one 14x14 sliding door that leads into a private and gated outdoor area. The minimum building clearance is 14 ft. from the sides and up to 24 ft at the center. This Northridge warehouse has approximately 6,000 SF of warehouse space with the remaining balance of highly improved modern office space on two floors. Power – 200A 120-240V 3Ph(Verify). There are 4 restrooms, 2 separate entrances, storage room, reception area, kitchen area, open bullpen space, and several private offices. The image and environment is creative and has unique qualities as compared to other traditional Northridge, Chatsworth and Canoga Park industrial buildings. Very creative space with modern offices and airplane hanger feel warehouse space.

Located in the State Enterprise Zone, this Northridge industrial warehouse has pole signage and abundant street parking and on a cul-de-sac.  This Northridge industrial building is zoned commercial manufacturing (CM) http://www.amlegal.com/nxt/gateway.dll/California/lapz/municipalcodechapteriplanningandzoningco/chapterigeneralprovisionsandzoning/article2specificplanning-zoningcomprehen/sec12171cmcommercialmanufacturingzone?f=templates$fn=default.htm$3.0$vid=amlegal:lapz_ca$anc allowing for  a wide range of uses.      

18555 Eddy Street, Northridge is located between Amigo Avenue and Baird Avenue with the closest major intersection at Reseda Boulevard and Parthenia Street, Nordhoff Street to the North and Roscoe Boulevard to the South, Tampa Avenue to the West and Balboa Boulevard to the East.  Other close located streets are Yolanda Avenue and Rayen Street.

Businesses in the area include automotive (auto body, restoration, service center and tires), tile and marble, steel and construction, self-storage, food and services, plumbing, electrical, remediation and a variety of other uses.

Q2 2014 Office and Industrial Report San Fernando Valley

A Surge in Leasing Activity and Marked Improvement in Employment Drives Vacancies Down and Lease Rates Up

Another surge of leasing activity and marked improvement in employment levels drove office vacancy rates down to 15.5 percent in the second quarter compared to 15.8 percent in the prior period. Vacancy has improved by 150 basis points (bps) compared to the year-ago period.

There were 1,355,898 square feet leased in the quarter, up nearly 20 percent over the prior quarter although 365,762 square feet less than the space leased in the year-ago period. Velocity declined 18 percent from the first half of 2013 as well. A total of 2,492,863 square feet was leased in the first half of 2014 versus 3,039,301 square feet leased in the first half of 2013.

But the modest slowdown comes as lease rates show increasing strength. The average lease rate in Q2 was $2.27 per square foot, up $0.03 per square foot from the prior quarter and $0.05 per square foot compared to the year-ago period. Indeed, much of the pressure landlords were feeling to lease their buildings last year has subsided, and the average asking rate in the current quarter is the highest we have seen in the market since the fourth quarter of 2010.

It should be noted however, that average asking rates are still16.5 percent off their highs of $2.72 per square foot in Q2 2008

Absorption has been positive for the past four quarters with another 210,100 square feet absorbed on a net basis in Q2. This follows a Q1 absorption rate of just 59,131 square feet and a significant improvement from the year ago period when 179,715 fewer square feet were leased than were vacated.

Median sale prices for office buildings have been trending upward for the past three quarters and registered $196 per square foot in Q2 with a total of 10 buildings sold. Including distressed sales and those for which no sale price was reported, the median price was $230 per square foot with a total of 12 building sales.

Year to date the median price of buildings sold in the region was $190 per square foot. There were 22 office buildings sold in the period. Prices have risen 6 percent compared to 2013 when the median price of buildings sold was $179 per square foot.

 Industrial Vacancies Continue to Fall and Sales Momentum Builds

 Vacancy levels in the Los Angeles North in­dustrial market fell even further and the steady pace of absorption continued in the second quarter.

Vacancies declined to 3.4 percent in the quarter, down 20 basis points (bps) from the prior period and 110 bps compared to the year-ago period. Nine of the area’s 13 sub­markets are now showing vacancy levels be­low 3 percent leaving few options for tenants looking for industrial space.

Absorption has been very strong, and in Q2 2014 354,300 square feet was leased on a net basis. By comparison, 423,752 fewer square feet were leased than were vacated in the second quarter of 2013. For the year to date, 1,034,000 square feet of space was absorbed versus 233,723 square feet of ab­sorption in the first half of 2013.

With the steady pace of improvement, land­lords are beginning to increase rents. After more than two years with little change in lease rates, the average rate rose by $0.02 per square foot compared to the prior three quarters to $0.64 per square foot and by $0.03 per square foot versus the year ago period. The last time average lease rates were $0.64 was the third quarter of 2009.

While rock-bottom vacancy levels and expec­tations that lease rates will continue to rise are fueling investment activity, the shortage of suitable buildings is spurring more busi­ness owners to opt for purchasing rather than leasing their space. In the year-to-date period 42 industrial buildings were sold at a median price of $128 per square foot, an in­crease of 17 percent in the price of buildings sold compared to 2013. Sale prices have risen 28 percent over the past two years.

For the most recent quarter, 19 buildings were sold at a median price of $120 per square foot. Including distressed properties and those for which no sale price was report­ed, 25 buildings were sold at a median price of $119.

Much has been written recently about the constrained supply for industrial buildings, and nowhere is that more true than in the Los Angeles North market. The conversion of much of the area’s manufacturing real estate to multifamily or retail space and scarcity of raw land has left few opportunities for the development of new inventory, and a mere 59,000 square feet of new industrial con­struction is currently underway.

Freestanding Northridge Office Available for Lease

https://www.facebook.com/NorthridgeOf...

Full Video https://www.youtube.com/watch?v=NFUs2fTNZG0

9255 Corbin Avenue offers an open and clean atmosphere for a variety of custom floor plans such as a tenant looking for a creative office space or a traditional corporate layout with unique finishes. Ideas for both single and dual tenancy office spaces include efficient designs coupled with creative features. The high ceilings, open space and rear loading can be utilized or converted for a space that's both functional and customized to suite a specific business operation. The property has terrific window line along the perimeter of the building for natural lighting and a healthy working environment. Parked at a ratio of 3 per 1,000, the building can accommodate a variety of light and heavy employed office users looking for space in a convenient area of Northridge with a variety of local amenities. The building is located within the Los Angeles State Enterprise Zone and brings added benefits to industries looking to relocate their business or head quarters to this location.
This Northridge office space is located on the signalized corner of Corbin Avenue and Prairie Street and has great street exposure. 9255 Corbin Avenue is centrally located in Northridge with easy access to the 118 Ronald Reagan, 101 Ventura and 405 Freeways and just west of the Northridge Fashion Center (Northridge Mall). The location of this Northridge office building is a few minutes from Cal State University Northridge (CSUN) -- home of the Matadors and other major employers. A variety of amenities in Northridge include a variety of eating establishments at and near the Northridge Fashion Center, Northridge apartment and senior living centers and the Northridge Hospital Medical Center.

Northridge is located in the northwest San Fernando Valley just north of Los Angeles city, south of Santa Clarita and Valencia, east of Ventura County and in the Los Angeles County.
Cities located adjacent to Northridge are Winnetka and Reseda to the south, Porter Ranch to the north, Chatsworth and West Hills to the west and North Hills and Granada Hills to the east.
Major thoroughfares close by are Corbin Avenue, Tampa Avenue, Wilbur Avenue, Reseda Boulevard, Winnetka Avenue, Plummer Street, Nordhoff Street, Lassen Street, and Devonshire Street.

Q 1 2014 Office and Industrial Market Report San Fernando Valley

Q1 2014

Market Moves a Tad Slower in Quarter, But Longer Term Trends Remain Positive

The Los Angeles North office market quieted down somewhat in the first quarter, although leasing activity continued to exceed 1 million SF.

Vacancy levels remained unchanged at 16.2 percent compared to the fourth quarter, and have fallen nearly 100 basis points (bps) compared to vacancies of 17.1 percent in the same period last year.

Just over 1 million SF of office space was leased in the quarter, about 38 percent less than the 1,624,000 SF leased in Q4 and down from the year ago period as well. The slowdown in velocity seems to have impacted absorption during the quarter, but it’s equally important to note that leasing has been strong now for the past nine quarters, an indication that the recovery in the office market is proceeding at a pace consistent with the economic growth we are seeing.

Only 31,200 SF of space was leased on a net basis during the quarter, down significantly from Q4 when net absorption totaled 298,035 SF. However, over the past 12 months, 504,000 SF of space has been leased on a net basis, amounting to a solid 1.1 percent growth in occupied space over that period.

With that level of progress, developers are reentering the market. Although the 200,000 SF of office space currently under construction is probably insufficient to make any real impact on available inventory, it is indicative of a return of confidence. Not to be overlooked, Laurel Canyon Plaza, a 90,000 square foot office building in North Hollywood and a neighboring retail building, was acquired by Goldstein Planting Investments for redevelopment.

Indeed, the Allen Matkins/UCLA Anderson Forecast Commercial Real Estate Survey released late in January showed that sentiment in the office market is highest in Southern California. About 70 percent of the survey respondents in the region said they planned to commence one or more projects within the next 12 months.

Sales activity too slowed in the quarter with just 10 sales taking place, compared with 19 in the year-ago period. With fewer transactions, the median price of office buildings sold declined to $205 PSF in Q1 from $257 PSF in Q4 and $212 PSF in Q1, 2013. Still, several trophy properties changed hands including Tower Burbank and Westlake Park Place.

Industrial Absorption Rises to Pre-Recession Levels and Vacancies Fall Below 4 Percent

Following four quarters of robust leasing activity, absorption has risen to pre-recession levels and vacancy has fallen to the lowest levels the market has seen since 2009.

With little new construction and a resurgence of demand for industrial space, the upward trajectory of the Los Angeles North industrial market seems here to stay, at least for the time being.

Some 1,100,404 SF of industrial space was leased in the quarter, bringing vacancy levels down to 3.8 percent, the first time vacancies have fallen below 4 percent since the fourth quarter of 2009. Current vacancy levels have fallen 40 basis points (bps) compared with the prior quarter and year ago period, which both registered vacancies of 4.2 percent.

Not surprisingly, leasing velocity has slowed somewhat from the prior quarter when 1,475,538 SF of space was leased, as well as the year ago period when 1,824,794 SF was leased as options for businesses become extremely constrained. Eight of the 13 Los Angeles North submarkets now are operating with vacancy levels below 3 percent. In the North Hollywood/Universal City submarket, vacancy is 0.9 percent. In Northridge it is 1.2 percent and in Reseda/Tarzana it is 1.5 percent. Only the Antelope and Santa Clarita valleys show vacancy rates above 5 percent.

On a net basis, some 625,600 SF of industrial space was leased, more than in any quarter since the first quarter of 2006 when 645,688 SF of space was absorbed. Admittedly, we are still seeing some fluctuation in absorption rates, and negative 135,923 SF was registered in Q4, but given the solid leasing activity, the volatility is more likely due to the lapsed time between space leased and occupied.

Similarly the sales sector was more active than it has been in any first quarter since 2009 with 23 industrial buildings changing hands in the quarter. The median sale price rose 19 percent to $130 per square foot, compared with $109 per square foot in Q4.

Although there are still some distressed assets being cleared in the region, their numbers are minimal. In the current quarter, just two distressed properties changed hands, compared to six in the first quarter of 2013.

Northridge and Chatsworth Office Industrial Headquarters Available for Lease

9255 Corbin Avenue, located in Northridge is a 43,472 square foot, high image and corporate headquarters office building available for lease. The freestanding Corbin Avenue office building offers an opportunity for a single tenant or dual tenant office user looking to lease an office space with a professional atmosphere while retaining the flexibility to lease an office space with a build to suite opportunity. This Corbin building has an open and clean office space for a variety of custom floor plans such as a tenant looking for a creative office working environment or a traditional corporate office atmosphere. Ideas for both single tenancy and dual tenancy office space include efficient designs coupled with unique features. The high ceilings, open space and rear loading can be utilized or converted for a space that's both functional and customized to suite a specific business operation. This Northridge office property has terrific window line throughout the entire perimeter of the building allowing for interior natural lighting and a healthy working environment. Parked 3 per 1,000 with convenient access to public transportation, this Northridge office can accommodate a variety of light and heavy employed office users looking to lease office space in a convenient area of Northridge. This Northridge office building is located within the Los Angeles State Enterprise Zone and brings added benefits to industries looking to relocate their business or office head quarters that are unique to this Northridge office location.
This Northridge office space is located on the signalized corner of Corbin Avenue and Prairie Street and has great street exposure. 9255 Corbin Avenue is centrally located in Northridge with easy access to the 118 Ronald Reagan, 101 Ventura and 405 Freeways and just west of the Northridge Fashion Center (Northridge Mall). The location of this Northridge office building is a few minutes from Cal State University Northridge (CSUN) -- home of the Matadors and other major employers. A variety of amenities in Northridge include a variety of eating establishments at and near the Northridge Fashion Center, Northridge apartment and senior living centers and the Northridge Hospital Medical Center.
Northridge is located in the northwest San Fernando Valley just north of Los Angeles city, south of Santa Clarita and Valencia, east of Ventura County and in the Los Angeles County.
Cities located adjacent to Northridge are Winnetka and Reseda to the south, Porter Ranch to the north, Chatsworth and West Hills to the west and North Hills and Granada Hills to the east.
Major thoroughfares close by are Corbin Avenue, Tampa Avenue, Wilbur Avenue, Reseda Boulevard, Winnetka Avenue, Plummer Street, Nordhoff Street, Lassen Street, and Devonshire Street.

Q4 San Fernando Valley Office and Industrial Market Report

Vacancies Decline to Lowest Levels in More than Four Years as Leasing Activity Remains Brisk

Office leasing activity spiked again in Q4 to 1,359,421 square feet, the highest levels in the past four quarters. In all, 4.6 million SF of space was leased in 2013, the second straight year of solid activity. (Last year, 5.3 million SF of office space was leased in the region.)  

A total of 272,000 SF of office space was absorbed in the quarter, down 30.5 percent from 391,444 square feet in the prior quarter. For 2013, a total of 241,400 SF of office space was absorbed, also down from 2012 when just over 1 million SF of space was absorbed.  

While there is some evidence that at least a portion of the activity in the market represents tenants trading off one space for another, it is also clear that the market’s inventory of office space is slowly filling up.

Vacancies, which have been trending downward for over a year now, dipped to their lowest levels since Q1 2009. The vacancy rate in Q4 was 16.2 percent, an improvement of 50 basis points over Q3 and 40 basis points over the year-ago period. Vacancies in the Los Angeles North market have declined more than 200 basis points since Q4 2011.

With landlords still facing competition for tenants, we are not seeing the tighter vacancy rates reflected in rental rate growth. Average asking lease rates fell by $0.01 to $2.24 per square foot in Q4, and are up by $0.02 per square foot compared to Q4 2012. It is important to note however, that some submarkets are showing rates well in excess of those levels, and we are seeing variations from one building to the next, even within the same submarket, depending on individual factors impacting each property.

Sales activity picked up dramatically compared to 2012. A total of 49 office buildings were sold in 2013 compared to 2012 when 26 office buildings were sold. The median price of buildings sold in 2013 was $186 per square foot, however, the full-year median sale price was adversely impacted by the first half of the year, and prices have been increasing significantly since then. The median price of buildings sold in Q4 was $255 per square foot, a 12 percent increase over the prior quarter.

Economy at a Glance

INVESTMENT: Record highs in the DJIA index and strong stock market returns along with low inflation and minimal interest rate increases are driving near-record high real estate prices, according to a report in Commercial Real Estate Executive. The story cited $660 PSF paid for the Hollywood & Highland Center in L.A. among others.

RENTS: Brokers polled by National Real Estate Investor expect the national office market to shift in favor of landlords in 2014. On a national basis, the office market has registered occupancy gains for 14 consecutive quarters, vacancy fell to 15.1 percent and lease rates inched up 3.5 percent in the fourth quarter of 2013, CPE reported.

STUDIOS: Warner Bros. topped the worldwide box office in 2013 with $4.95 billion in sales. Walt Disney Co. was second with about $4.68 billion in sales and Universal City was third with $3.68 billion in worldwide sales.

RENEWALS: Companies are using lease renewals as an opportunity to downsize in order to conform to today’s workplace dynamics, National Real Estate Investor reported. The office space utilized per employee is estimated to have fallen to 172 SF from 255 SF in 2000 and estimates are that space used per employee will fall to 145 SF by 2018.

 

Extremely Tight Market Limits Options and Curtails Leasing Activity

Following three very busy quarters that removed a good deal of the industrial inventory from the Los Angeles North market, industrial leasing activity slowed in Q4, declining more than 60 percent compared to Q3 and off 22 percent from the comparable year-ago period.

A total of 943,620 square feet of industrial space was leased in the quarter, compared to 1,539,000 square feet in Q3 and 1,213,000 in the fourth quarter of 2012.

The strong activity that preceded the fourth quarter has brought vacancy rates down and limited options for businesses. Overall, the vacancy rate for the current quarter was 4.1 percent, unchanged from Q3. It is also noteworthy, however, that seven out of the 13 submarkets in the Los Angeles North industrial market finished the year with vacancy rates under 3 percent and vacancies were below 2 percent in several markets.

In Woodland Hills, where much of the industrial inventory has been converted to multifamily use, the industrial vacancy rate is 1.4 percent. Glendale’s vacancy rate is 1.7 percent and the North Hollywood/Universal City submarket has a vacancy rate of 1.9 percent.

Just 23,300 square feet of industrial space was absorbed in the region, compared with 488,300 square feet in Q3 and 551,766 square feet in the year-ago period. Chatsworth experienced the highest absorption rate for the year with 695,000 square feet of industrial space absorbed

With so little space available, asking rents rose to $0.63 per square foot in the quarter, a penny per square foot more than the prior quarter and a $0.03 increase over the year ago period. At $0.63 per square foot, asking rents are the highest they have been since Q3 2007 when the rate averaged $0.75 per square foot.

As the industrial market came back with a vengeance so too did sales activity. There were 86 industrial buildings sold in 2013, the largest volume of sales since 2006 when 118 buildings changed hands.

Median sale prices, however, are still lagging the activity we are seeing. In 2013, the median price of buildings sold was $109 per square foot, off 20 percent from the height of the last real estate cycle when the median industrial building price was $137 per square foot.

Economy at a Glance

GDP: The Commerce Department revised third quarter economic growth to 4.1 percent, the strongest growth in nearly two years, the New York Times reported. Previous estimates were 3.6 percent. The increase was attributed to a rise in healthcare, housing and cars as well as exports, state and local government spending and investment in new factories and inventories.

BENTLEY: A record 10,120 Bentleys were sold last year, the luxury maker’s best performance in its 95-year history, according to a report in Bloomberg Businessweek. Bentley said the stock market run-up fueled some of its sales increases, but the company also rolled out a new, lower priced model at the bargain price of about $200,000.

DEMAND: Industrial demand is expected to remain strong over the next two years, with availability rates nationally falling to 11.1 percent, according to CBRE research reported in GlobeSt. Researchers anticipate that the demand will drive rent growth of 4.4 percent in 2014 and 4.6 percent in 2015.

FILMING: L.A.’s location film production increased 19 percent last year to 6,972 days for features and 11 percent to 18,590 days for television, compared to 2012, the Los Angeles Business Journal reported. Commercial shoots were up 5 percent for the same period. The bad news? L.A.’s feature film production is down 50 percent from peak levels in 1996 and TV production is off 38 percent from its peak in 2008.

Q3 2013 San Fernando Valley Office & Industrial Market Report

Leasing Activity Takes a Breather and Fundamentals Show Marked Improvement  

Leasing activity fell back a bit as the office market absorbed the considerable space leased over the last four quarters. A total of 898,773 square feet of office space was leased, down 22 percent from the prior period and off roughly by the same amount compared to the year-ago period.

You might say it was bound to happen as the market absorbed nearly 2.7 million of square feet leased in the first half of the year. Indeed, vacancy rates fell to 16.7 percent in the quarter, down from 17.4 percent in the second quarter and 17.3 percent in the year-ago period. Even Warner Center, among the slowest submarkets to recover due to its relatively large inventory and its traditional tenant base of financial services firms, which were hardest hit in the recession, has seen its vacancy levels plummet. Last year at this time Warner Center’s vacancy rate was 17.3 percent, and as of the current quarter it stands at 13.8 percent.

As might be expected given the strong leasing activity for the better part of the year, absorption improved considerably in the quarter. A net 370,300 square feet of space was absorbed in the quarter, compared to negative 18,700 square feet in the second quarter and negative 40,200 square feet in the year ago period.

Asking lease rates rose to $2.27 per square foot from $2.23 per square foot in the prior quarter and $2.21 per square foot in the year ago period. It is the highest lease rate we’ve seen in the LA North market in six quarters. Although rates are still off dramatically from the high of $2.72 per square foot at the height of the last real estate cycle, there are some markets and buildings, especially in the Sherman Oaks submarket and some areas of Burbank that have pushed into the $3.00 per square foot range.

Only seven office buildings were sold in the quarter, however, on a year-to-date basis, the number of building sales so far in 2013 is ahead of the number sold in all of 2012, and median sale prices jumped dramatically. The median price of buildings sold in the quarter was $232 per square foot, 27 percent higher than last quarter’s $183 per square foot and a 23 percent increase over the year ago period.

Economy at a Glance

BUDGET: Bank of America Merrill Lynch sliced its domestic growth forecast for Q4 to 2 percent from 2.5 percent because of the government shutdown, according to a report in Bloomberg News. One example: Grant Thornton LLP put 120 of its 600 federal contract employees on hiatus, and said the shutdown was costing $500,000 a week because it continued to pay those workers without getting paid by the government.

SMALL BUSINESS: Revenue at companies with less than $10 million in sales increased 8 percent annually in the past two years, but the pace slowed by 2 percent so far in 2013, according to data from Sageworks reported in BusinessWeek.

HOLIDAY: A National Retail Federation poll found almost 80 percent expect to spend less during the coming holiday season. Respondents plan to spend $737.95 on gifts, décor and other holiday purchases, off 3 percent from last year when they shelled out $752.24, according to a story in the Los Angeles Times.

OBAMACARE: California’s new insurance exchange received 95,000 applications for health insurance in the first two weeks of open enrollment, according to a report in the Los Angeles Times.

RETIREMENT: A poll of American workers aged 50 and above by the Associates Press-NORC Center for Public Affairs Research found four in five plan to keep working during their latter years, the Los Angeles Times reported. The results indicate that traditional retirement is out of reach for many, the survey found.

Activity Surges, Driving Vacancy Levels Down And Lease Rates Up

A flurry of leasing activity in the third quarter drove up absorption rates and pushed vacancy rates down as the industrial market continues to show resiliency and strength.

Nearly 1.5 million square feet of industrial leases were transacted in the quarter, a 32 percent increase over the prior period when about 1.1 million square feet of space was leased, but somewhat less than the 1.8 million square feet of leases signed in the comparable period a year ago.

The activity pushed vacancy levels down 30 basis points to 4.4 percent from 4.7 percent in the prior quarter and absorption has vastly improved, compared to the prior quarter as well as the year-ago period.

Nearly 387,000 square feet of space was absorbed in the quarter, up from negative 77,000 square feet in Q2 and up dramatically from the third quarter of 2012 when 230,000 fewer square feet were leased than were vacated in the region.

The continued strengthening of the market is slowly pushing lease rates up. The average direct asking rate was $0.62 per square foot in Q3, up from $0.60 per square foot in Q2 and Q3 2012. Currently rates are at their highest levels since the fourth quarter of 2009, and the increases are even more dramatic in smaller size ranges. The average lease rate for buildings in the 5,000 – 10,000 square foot range was $0.72 in the quarter, and it was $0.66 per square foot for buildings ranging from 10,000 square feet to 20,000 square feet.

With a limited inventory supply, we are seeing more owners opt to purchase their facilities as a way to ensure that they have the space they need for their operations, control costs and avoid costly relocation, and industrial building sales have been brisk as a result.

A total of 25 industrial buildings were sold in the quarter at a median price of $119 per square foot, the highest per square foot price registered for industrial buildings in the region since Q2 2009. Although the number of building sales was down from the prior period, when 34 industrial buildings changed hands, the data indicate that fewer distressed sales are taking place. Only one of the sales that took place in the current quarter was an REO, compared with the prior quarter when 17 percent of the building sales were distressed assets.

Economy at a Glance

BUDGET: Bank of America Merrill Lynch sliced its domestic growth forecast for Q4 to 2 percent from 2.5 percent because of the government shutdown, according to a report in Bloomberg News. One example: Grant Thornton LLP put 120 of its 600 federal contract employees on hiatus, and said the shutdown was costing $500,000 a week because it continued to pay those workers without getting paid by the government.

HALLOWEEN: Nearly 66 percent of adults celebrate Halloween, resulting in some $6.9 billion in sales, according to a survey by the National Retail Federation reported in BusinessWeek.

E-COMMERCE: U.S. spending by online shoppers reached $290 billion in 2012, and is expected to reach $500 billion by 2020. The growth is creating dramatic changes in the way industrial warehouse space is used and configured, according to a report from DHL Supply Chain, said National Real Estate Investor. Although retailers are still looking for the right formula, strategies include building smaller regional warehouse centers and converting a portion of retail stores to fulfillment centers.

SMALL BUSINESS: Revenue at companies with less than $10 million in sales increased 8 percent annually in the past two years, but the pace has slowed in 2013, according to data from Sageworks reported in BusinessWeek. Sageworks found sales at these companies are running 2 percent less so far in 2013.

Woodland Hills Office - Carlton Plaza Impressive Lobby

Carlton Plaza office in Woodland Hills welcomes you to the newly remodeled lobby. The moment you step inside this class A office building, the modern décor welcomes you and your guests to Woodland Hills premier office building on Ventura Boulevard.

Carlton Plaza office in Woodland Hills understands that managing office building in the most efficient way mutually benefits both office tenants and landlords.  We pride ourselves in keeping up with the latest knowledge and practical applications in modern building technologies and infrastructure.  In the remodeling process of the lobby, healthy indoor environments was to be priority on the list of recognized points of interest.  Our human senses play a large role in determining the quality of our environment.  Visually, the lobby’s natural color tones and touches of wood elements with natural lighting against the white seating areas and dark accents, creates a smooth transition from outdoors to an indoor environment. The high ceilings at the entrance creates efficient utilization of useable space with a sense of more open space than actual.  The modern touches of building lighting that project soft light tones blends with the natural lighting in an efficient manner.  Also to include, the latest addition was the interactive touchscreen building directory.  The digital directory is an efficient system informing and managing visitors to navigate though the tenant directory, management, leasing contacts, and additional amenities available in the building.  We hope to see you on your next visitation or leasing opportunities as they arise.

http://woodlandhillsoffice.com/2013/09/28/carlton-plaza-office-woodland-hills-office-impressive-lobby-ventura-boulevard/

http://woodlandhillsoffice.com/2013/04/16/carlton-plaza-office-new-lobby-new-look/

What is a 1031 Exchange?

1031 tax deferred exchange is a way to postpone capital gains or loss from a sale of property through purchasing another like-kind property within a certain time frame. Although there are several kinds of 1031 exchanges, the Delayed Exchange is the most common.  

“Under Section 1031 of the United States Internal Revenue Code (26 U.S.C. § 1031), the exchange of certain types of property may defer the recognition of capital gains or losses due upon sale, and hence defer any capital gains taxes otherwise due.” http://en.wikipedia.org/wiki/Internal_Revenue_Code_section_1031

1031 tax deferred exchange is a way to postpone capital gains or loss from a sale of property through purchasing another like-kind property within a certain time frame. Although there are several kinds of 1031 exchanges, the Delayed Exchange is the most common.  

“Under Section 1031 of the United States Internal Revenue Code (26 U.S.C. § 1031), the exchange of certain types of property may defer the recognition of capital gains or losses due upon sale, and hence defer any capital gains taxes otherwise due.” http://en.wikipedia.org/wiki/Internal_Revenue_Code_section_1031

Through the 1031 tax deferred exchange program, property investors are able to reinvest the sale proceeds into another property of equal or larger value.  This has been a common platform property investors have been using over time to create great wealth.

Before the property is sold, escrow will make the necessary arrangements for the 1031 exchange.  At the close of escrow, the proceeds from the sale will be transferred to an Accommodator also known as a Qualified Intermediary.  (A Qualified Intermediary is an independent party who facilitates tax-deferred exchanges pursuant to Section 1031 of the Internal Revenue Code. The QI cannot be the taxpayer or a disqualified person.) http://www.1031.org/about1031/faq.htm

The investor will have 45 days from the date the downleg(relinquished property) is transferred to identify potential exchange properties. There are several different rules on property identification but the 3-property rule seems to be most popular. Within 180 days from the close of escrow of the downleg, one of the three identified properties must be purchased.

Most investors selling their investment property will begin looking for an exchange property from the moment they put their own property up for sale. So in general, if the sale property takes approximately 90 days to close escrow(30 days of marketing & 60 day escrow), they would have additional time to identify several replacement properties and close escrow on the upleg(replacement property).   

Here is a great place and resource to learn more http://www.ipx1031.com/reexchanges.aspx

What is happening in the office leasing market?

I recently attended a round table lunch discussion with Douglas Emmett in Woodland Hills. The meeting took place in their last remaining full floor availability at the Warner Corporate Center near Victory Boulevard and Canoga Avenue. The office space presented very well while the views of Warner Center was clear as day utilizing the office’s full window line and natural lighting. The turnout among active brokers in the area was successful and the discussion moderated by David Hitzel (Regional Manager –Leasing) from Douglas Emmett was very informative as majority of the brokers affirmed the general consensus about Tenants and Landlords in the marketplace.

“We are seeing that Landlords are giving less concession while larger Tenants have fewer choices.” (Broker)

The pace of demand for office space the San Fernando Valley is being funneled from the west Los Angeles markets. The east and central valley including Studio City, Sherman Oaks and Encino continues to see very strong demand while the west valley is still catching up. The tech boom in the west Los Angeles markets has lead way to fewer options of quality office spaces to lease.  As a direct result, Tenants are looking to the central valley along the 405 and 101 corridors as available office spaces are slim. This has resulted in a higher demand for office space and increased rental rates in those areas.

“We expected to see this improving trend towards the Woodland Hills market as the demand for office space continues to extend down the 101 freeway.” (Broker)

“Still we haven’t notice any large hiring in the local area.”(Broker)  Although the office momentum seems positive, new full time job creation continues to be sluggish as this continues to be a major concern for real growth in the local economy.

Eric Nishimoto Commerical Real Estate - San Fernando Valley and Conejo Valley

Looking for space for you business operations or for investment properties? Whatever your current or future needs, Lee & Associates has the local market insight, the relationship, and the deal-making expertiese to help. By leveraging our expertise in matching your objectives with the best options, we will find the perfect solution for your real estate needs.

Regardless of whether you are a tenant, landlord, investor or business owner, real estate is one of the most important assets your business must manage.

Marketing campaign to the community of commerical real estate and business owners in the San Fernando Valley and Conejo Valley.

Product types include Office Properties, Industrial Properties, Retail Services, Multifamily Properties and Investments Sales.

Services also include Renewals, Expansions, Relocations, Valuation Analysis, Exercise of Options, Leases and Subleases, Lease Audits, Acquisitions, Dispositions.

San Fernando Valley Industrial and Office Q2 Market Reports

Industrial

Activity Is Light As Inventory Remains Extremely Constrained

Lack of spaces suited for today's manufacturing and warehousing needs has resulted in vacancies below 5%. Rates have modest increases by $.01 to $.61 per square foot per average quarter. Of 33 industrial buildings that sold the median price was $116 per square foot, up 13% from Q1.

Q2 2013 San Fernando Valley Industrial Market Report (Click Link For Report)

Office

Leasing Activity Weakens But Low Interest Rates Push Sales Velocity

Office spaces remain sluggish in Q2 with no significant changes from Q1. Vacany rates relatively unchanged at 17%, but better by .08% a year ago. Leasing activity are companies trading spaces in the area. Rent are up about $.03 from a year ago. There were 18 offices sales this quarter with a median sales price of $183 per square foot.

Q2 2013 San Fernando Valley Office Market Report (Clink Link For Report)

Office Space and Technology at the Next Level of Virtual Touring

Technology giving users a step up in their ability to share and visually translate real-life interior spaces for offices. This fully interactive three dimensional tour with photographic details is amazing for those able to navigate through today's innovative application. Not just the normal virtual tour, but taking touring to the next level. For office owners with rents that support cost in marketing, you’re missing opportunities to capture a step up with competing office spaces. I am impressed with Floored.com http://floored.com/

Carlton Plaza Office - Suite 204 -Woodland Hills Office Available For Lease

Woodland Hills Office Available for Lease - Eric Nishimoto - 818-223-4388 Lee & Associates - LA North/Ventura, Inc.
http://woodlandhillsoffice.com

https://www.facebook.com/woodlandhillsoffice

https://twitter.com/WHOfficeSpace

Suite 204 has 3 window offices(one large window office can be used as a conference room), 1 interior office, filing area with built in cabinets, work station area/bull pen with natural light from large window, reception room and private waiting area.

Carlton Plaza is located at 20750 Ventura Blvd., Woodland Hills. Directly across the street from Target near DeSoto and Ventura Boulevard.

Servicing the Los Angeles County & Ventura County and surrounding areas of the San Fernando Valley & Conejo Valley: Chatsworth, Canoga Park, Winnetka, West Hills, Woodland Hills, Warner Center, Reseda, Van Nuys, Granada Hills, North Hills, Northridge, Porter Ranch, Tarzana, Encino, Sherman Oaks, Valley Village, Studio City, Lake View Terrace, Lake Balboa, Shadow Hills, Sun Valley, Sunland, Tujunga, Toluca Lake, Valley Glen, North Hollywood, Sylmar, Van Nuys, San Fernando, Arleta, Panorama City, Pacoima, Burbank, Glendale, Hidden Hills, Calabasas, Agoura Hills, Westlake Village, Newberry Park, Thousand Oaks, Oak Park.

Tags
AMC WOODLAND HILLS, CARLTON PLAZA, COMMERCIAL REAL ESTATE, ERIC NISHIMOTO, INSURANCE, LEASE OFFICE, LEASE OFFICE SPACE WOODLAND HILLS, LEE AND ASSOCIATES, OFFICE SPACE, OFFICE SPACE FOR LEASE, RENT OFFICE, TARGET WOODLAND HILLS, VENTURA BOULEVARD, WARNER CENTER, WEATHER WOODLAND HILLS, WOODLAND HILLS APARTMENTS, WOODLAND HILLS CA, WOODLAND HILLS CALIFORNIA, WOODLAND HILLS CHURCH, WOODLAND HILLS KAISER, WOODLAND HILLS MALL, WOODLAND HILLS OFFICE SPACE, WOODLAND HILLS SCHOOL, WOODLAND HILLS ACADEMY

Q1 2013 San Fernando Valley Industrial Market Report

Q1 2013 San Fernando Valley Industrial Market Report (Click Here)

Q1 2013 San Fernando Valley Office Market Report

Q1 2013 San Fernando Valley Office Market Report (Click Here)

West Hills School Campus Available for Lease - Classroom Tour

A unique opportunity to lease a West Hills school campus. The school campus is comprised of multiple buildings with a variety of uses and flexibility. Additional space can also be available for lease. The West Hills school campus is set up with administration offices and classrooms that have a variety of uses. This beautiful West Hills school campus offers strong demographics, abundant parking, secured access, outdoor activity areas and well manicured landscaping. Please do not disturb the tenant. Tours are by scheduled appointments only. For more leasing information or to schedule a tour, please contact Lee & Associates -- LA North/Ventura, Inc., Eric Nishimoto 818.444.4984

West Hills School Campus Available for Lease - Administration Office Tour

A unique opportunity to lease a West Hills school campus. The school campus is comprised of multiple buildings with a variety of uses and flexibility. Additional space can also be available for lease. The West Hills school campus is set up with administration offices and classrooms that have a variety of uses. This beautiful West Hills school campus offers strong demographics, abundant parking, secured access, outdoor activity areas and well manicured landscaping. Please do not disturb the tenant. Tours are by scheduled appointments only. For more leasing information or to schedule a tour, please contact Lee & Associates -- LA North/Ventura, Inc., Eric Nishimoto 818.444.4984

West Hills School Campus Available for Lease

A unique opportunity to lease a West Hills school campus. The school campus is comprised of multiple buildings with a variety of uses and flexibility. Additional space can also be available for lease. The West Hills school campus is set up with administration offices and classrooms that have a variety of uses. This beautiful West Hills school campus offers strong demographics, abundant parking, secured access, outdoor activity areas and well manicured landscaping. Please do not disturb the tenant. Tours are by scheduled appointments only. For more leasing information or to schedule a tour, please contact Lee & Associates -- LA North/Ventura, Inc., Eric Nishimoto 818.444.4984

Woodland HIlls Office For Lease - Carlton Plaza Office Ground Floor Space Available for Rent - Suite 105

Office suite 105 at Carlton Plaza Office is located right off the main entrance. The remodeled lobby will serve as the grand entrance to the building with office suite 105 to the right.  The double door glass entrance in addition to the wonderful window line in the main reception adds a warm welcome to all guests visiting the space. The existing space now offers multiple private office suites, conference rooms, reception area, filing and storage, IT room, open bullpen and plumbing for the kitchen and several other spaces.