Legal marijuana growers in California, including in Los Angeles, are causing rents and prices for industrial properties to increase exponentially. In fact, in some parts of Sacramento, prices are jumping to never-before-seen heights. This may be good news for those interested in selling commercial real estate or offering commercial leases.
Technology appears to be changing the face of modern real estate investing today in the United States, including in Los Angeles. In fact, when it comes to the retail sector, technology has led to a major shift to online retail from its land-based counterpart. As a result, warehouse commercial leases are beginning to draw increasing attention compared with retail building commercial leases.
California, including the area of Los Angeles, remains a hot spot for real estate investors in the commercial sector. A particular area that is drawing increasing attention is Palm Springs, where commercial leases can benefit both businesses and the community as a whole. Part of the draw of this area is the good quality of life it is purported to offer.
The state of California, including Los Angeles, continues to offer a wellspring of opportunities for those interested in mixed-use properties. In San Francisco, construction is expected to soon start on a new mixed-use project that will stand six stories tall and feature residential, restaurant and retail spaces. Just a few important permits are necessary before the construction phase can begin and commercial leases are offered.
A real estate brokerage in California recently completed a property portfolio sale and leaseback. The transaction took place in Rancho Cucamonga and Carteret, less than an hour from Los Angeles. With these types of transactions, property owners may sell their commercial real estate assets for quick capital and then do commercial leases with these assets, essentially leasing them back from the buyers.
A realty company in California recently closed a brand-new deal at a property known as the old Garland Center. The data center part of this property has thus been renamed the West 7 Center. Evocative, an internet company, signed a lease for a whopping 42,000 square feet at this piece of property, which is located in the downtown area of Los Angeles. These types of commercial leases can be mutually beneficial for both the lessor and lessee.
In Southern California, the real estate market is highly competitive. This is especially true for those interested in purchasing properties in the Los Angeles area that would enable them to offer in-demand commercial leases. A couple of tips may help with navigating commercial real estate deals in the Golden State.
Nowadays, there is a push among the owners of office buildings and real estate developers to bridge the gap between urban life and suburban life. With this comes a new concept known as urb-suburban. By embracing this vibe, real estate investors in Los Angeles who are interested in offering commercial leases may experience levels of success they have never seen before.
Like other types of contracts, a commercial lease between oneself and a landlord may be negotiated. However, effective negotiation in Los Angeles starts with an understanding of the terms often included in commercial leases. These terms include destruction, enforcement and escalation clause.
A retail property in the Los Angeles area recently sold for a whopping $22 million. The property was sold to a Los Angeles buyer, who was not immediately identified. Known as The Gardens, this retail property offers many opportunities for commercial leases.