Los Angeles Commercial Real Estate – Redevelopment Starts More Modestly

Los Angeles Commercial Real Estate:
Grand Avenue Development Project

Los Angeles Commercial Real Estate | Grand Avenue Project

Grand Park covers 12 acres in downtown Los Angeles, from Grand Avenue to Spring Street. It is designed to host concerts and other performances.
(Photo: Monica Almeida/The New York Times)

Los Angeles Commercial Real Estate Sees A Simple Start To A Bold Redevelopment Vision

Rather than sending shockwaves through the world of Los Angeles Commercial Real Estate and beginning the project with a huge commercial building, the new Grand Avenue Development Project just got off the ground with the opening of "Grand Park", a twelve acre area that replaces the old "Civic Center" with new and very attractive open space. BUT … the project has begun, and there is much more to come, if they can get it right

Here's an article from the New York Times by Peter Slatin that describes the entire thing …

Simple Start of a Bold Vision for Downtown Los Angeles

"LOS ANGELES — Community leaders, real estate magnates and urban planners hope the Grand Avenue Development Project, which would add several million square feet of commercial and cultural space, will provide a center of gravity and excitement to an area of the city that has lacked both." … NY Times
http://www.nytimes.com/2012/11/28/realestate/commercial/simple-start-in-overhauling-downtown-los-angeles.html

Los Angeles Commercial Real Estate Market Dictates What Comes Next

The original plans that the Grand Avenue Development Project put forth call for innovative use (for the area) combining multi-use commercial in a grand scale (pardon the pun). However, realities of the Los Angeles Commercial Real Estate market … such as the almost non-existant condo market … will force accommodations and compromises to be made. Here's hoping the developers will get it right … and that the market supports them.

Los Angeles Commercial Real Estate.
 

Los Angeles Commercial Real Estate Benefitting From Gold Line Opening

Los Angeles Commercial Real Estate:
$63 Million Shopping And Multi-Unit Combo Breaks Ground

Los Angeles Commercial Real Estate | Costa Real Estate Digest

The apartment and retail complex at 9901 Washington Blvd. in Los Angeles, across the street from Culver City, will be known as NMS@Culver City. The apartments are scheduled to open in spring 2014. Above, a rendering of the completed project. (Killefer Flammang Architects / October 19, 2011)

Los Angeles Commercial Real Estate Development Is Benefitting From The Opening of
The Gold Line Rail Stations

More good news for Los Angeles commercial real estate development as NMS Properties has begun construction on a 6-story development that will house 131 residential units over stores and shops near the recently opened Gold Line. Hundreds of millions of dollars of development are in the pipeline along the Gold Line corridor.

Read about it in this article in the L.A. Times from Roger Vincent:
 

Apartment, retail complex underway near Culver City

Roger Vincent – "Hundreds of millions of dollars worth of real estate development linked to Los Angeles County Metropolitan Transportation Authority's Expo Line are in the pipeline in Culver City. NMS and other developers are also targeting future station sites …" Los Angeles Times"
http://www.latimes.com/business/la-fi-property-report-20120903,0,517470.story

Washington Blvd Corridor Is Los Angeles Commercial Real Estate Hot Spot

Developers of Los Angeles Commercial Real Estate are bullish on the Washing Blvd. corridor in the Culver City area. The area has been developing its own "nightlife personality" very quickly, and the recent opening of the Metro Gold Line stations along the corridor provides easy transportation to and from downtown and areas further to the west.

Los Angeles Commercial Real Estate.
 

Los Angeles Commercial Real Estate: Pebblebrook Buys $125 Million "W Los Angeles"

Los Angeles Commercial Real Estate:
The "W Los Angeles – Westwood"
Has Been Sold

Los Angeles Commercial Real Estate | W Los Angeles - Westwood Sold

W Los Angeles – Westwood
(Photo W Los Angeles – Westwood)

Sale Of The Luxurious Hotel Is One Of The Larger Recent Sales In Los Angeles Commercial Real Estate

Starwood Hotels and Resorts, one of the larger players in hotel properties in Los Angeles commercial real estate and around the world, has sold the "W Los Angeles – Westwood" to Pebblebrook Hotel Trust.

Any large sale is a shot in the arm to the Los Angeles commercial real estate market, and this is no exception. You can read about it here in this article from the World Property Channel by Scott Kauffman:

Pebblebrook Buys $125 Million W Los Angeles

By Scott Kauffman – World Property Channel – "The luxurious "W Los Angeles – Westwood" traded hands this week. Pebblebrook Hotel Trust, a publicly traded real estate investment trust, officially acquired the hotel property from Starwood Hotels & Resorts Worldwide, Inc."
http://www.worldpropertychannel.com/north-america-vacation-news/starwood-hotels-resorts-worldwide-pebblebrook-hotel-trust-w-los-angeles-westwood-westin-gaslamp-quarter-san-diego-w-boston-sheraton-delfina-santa-monica-6006.php

Los Angeles Commercial Real Estate:
A Management / Ownership Partnership

Pebblebrook Hotel Trust has taken ownership here, but apparently Starwood has entered into a 40 year agreement to continue managing the property while Pebblebrook has agreed to continue with planned renovations to some of the facility's amenitites. This is one of the larger transactions recently in the world of Los Angeles commercial real estate.

Los Angeles Commercial Real Estate: Venture Capital Jumps In LA County

Los Angeles Commercial Real Estate:
Venture Capital Jumps In LA County

Los Angeles Commercial Real Estate | Costa Real Estate Digest

Venture Capital Investment Indicate Possibility Of Coming Growth In Los Angeles Commercial Real Estate Market

The outlook for the Los Angeles commercial real estate market benefits today from this report from the LA Times. The amount of venture capital that savvy investors place in any area is usually a pretty good indicator of the health of the commercial market there. Well, it seems that venture capital investment in LA County has jumped recently, and that bodes well for the future of the Los Angeles commercial real estate market.

Here's the report from Ronald D. White of the LA Times:

Venture capital jumps in LA County, sags nationwide

RONALD D. WHITE – "Los Angeles stole a bit of the Bay Area's usual thunder in venture capital funding, with increases in both the number of deals and the amount of money invested during the second quarter. Los Angeles County companies attracted 44 deals totaling $545 …" … Los Angeles Times
http://www.latimes.com/business/la-fi-venture-capital-20120720,0,7173353.story


Los Angeles Commercial Real Estate Market Showing Many Good Indicators Recently

The jump in venture capital invested in LA County bodes well for the Los Angeles commercial real estate market. In these pages recently we've seen several such signs. That's not to say that Los Angeles commercial real estate is booming yet … but things are not as bad as they were just last year. That's good news.

Los Angeles Commercial Real Estate.
 

Los Angeles Commercial Real Estate: New Construction & Renovation At Long Beach And Port of L.A.

Los Angeles Commercial Real Estate:
New Construction & Renovation At Long Beach And Port of L.A.

Los Angeles Commercial Real Estate | Costa Real Estate Digest | Brion Costa
Infrastructure Growth & Improvement Indicates Brighter Days Ahead for
Los Angeles Commercial Real Estate

Here's another indication that Los Angeles commercial real estate may be in store for improving days ahead. Nothing reflects the future of any market better than the activity surrounding the building and maintenance of the infrastructure that supports that market. Transport of goods and wares is critical to the Los Angeles commercial real estate market … and part of that infrastructure is growing and improving rapidly with large building projects at both of the areas major sea ports.

Here's a report from the L.A. Times concerning what's going on in the ports of Los Angeles and Long Beach. This is a very strong indication of what wise investors expect in the Los Angeles commercial real estate market.

Ports of Los Angeles and Long Beach building at furious pace

Ronald D. White – "So much construction is underway that the new facilities by themselves would move more freight than the entire port of Savannah, Ga., which ranks No. 4 among the continent's ports." …Los Angeles Times
http://www.latimes.com/business/la-fi-ports-projects-20120720,0,3659702.story

 

Is Los Angeles Commercial Real Estate "Out Of The Woods"?

No one is saying that the Los Angeles commercial real estate market is "out of the woods" yet. However, this kind of investment in infrastructure … by both public and private entities … is a good indication that "smart money" expects better days ahead. 
 

Los Angeles Commercial Real Estate.

Los Angeles Commercial Real Estate & Home Prices Both Rise

Los Angeles Commercial Real Estate & Home Prices Both On The Rise With Less Foreclosure Competition

Los Angeles Commercial Real Estate | Costa Real Estate Digest | Brion Costa

Now this is definitely good news for the Los Angeles commercial real estate market and the residential market as well. There's no other way to interpret it. The Los Angeles Times reports that there are "significantly fewer foreclosure homes on the market" per the June reports, and that this is easing downwards pressure on home prices and real estate in general and allowing the average prices of homes and commercial real estate to rise again.

Read the report at the L.A. Times:

Home prices rise in June with fewer foreclosures on the market

Alejandro Lazo – "The Southland's median home price was up 5.3% in June from a year earlier, hitting $300000 for the first time in two years, real estate firm DataQuick reported Tuesday. The median is the point at which half the homes sold for more and half for less …"
http://www.latimes.com/business/realestate/la-fi-home-sales-20120718,0,4996875.story

Rising prices could mean a more comfortable situation for both owners of Los Angeles commercial real estate and for area homeowners as well.