In June, San Franciscans took to the polls to vote in statewide primary elections and on a number of new initiatives. Among them were two propositions with potentially far-reaching impact on the city’s commercial real estate. Both measures stood to increase taxes on commercial buildings in the city, already one of the world’s most expensive office markets.
Read MoreSTOCKTON, CA—Newport Beach, CA-based CT purchased the 345-acre industrial site for the 4.4 million-square-foot NorCal Logistics Center in May 2017 and has now completed the first phase development, including three spec buildings. The last to be completed is a 1.12 million-square-foot building, one of the single-largest speculative industrial buildings in Northern California. The second phase of development will begin toward the end of 2018 and include three additional buildings totaling approximately 1.6 million square feet.
Read MoreFitness tenants are driving retail leasing activity in Southern California. According to a new report from CBRE that looked at retail leasing activity, fitness tenants are among the top five retail users in Southern California, and they are expanding. This is a stark change from the activity from this retail segment in the past, when fitness centers were not considered a primary tenant. Today, fitness centers are occupying big boxes as well as smaller footprints and in some cases can even serve as anchors in shopping centers
Read MoreLegacy real estate properties often pass from one generation to another. But when it comes time to sell these properties, are there right and wrong ways to roll over the proceeds to new real estate investments? According to Steven Hornstock, co-managing partner of New York City-based ABS Partners Real Estate, a full-service vertical real estate company involved in management and leasing, adhering to a handful of proven strategies can make a huge difference. And the strategies are all the more key given the new Trump-era tax laws pushed through in 2017.
Read MoreA network of climbing gyms will reach into more cities and locations in the coming years, bringing a new type of experiential retail to many parts of the country. As big-box retailers have struggled, fitness brands that offer experience rather than selling a product have been growing in recent years.
Read MoreA few weeks ago I wrote about the prospect of the repeal of Costa-Hawkins act in California. This measure is being pushed by tenant rights groups claiming it will help with affordable housing. Although I do believe there is an affordable housing crisis, I do believe that the repeal of Costa-Hawkins would only be a short term relief and significantly hurt affordable housing in the long term. So what can cities do to address the affordable housing crisis?
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