Mike M.

Great share David Marino. A clear-eyed portrayal of the under reported weakness that has now spread into the industrial markets. Important for tenants to understand where markets really are and where they are headed (industrial, office, lab space), especially when so many landlords haven’t changed their asking rents (or won’t publish an asking rent) and they are hoping for above-market renewals with un-represented (or under-represented) tenants to save the day. I met with one yesterday, who now wants out of their too large, above market 5-year renewal, just brutal. Why is it that in real estate, long-term, loyal, repeat customers are expected to pay a “renewal premium?” Get yourself a good tenant-side broker, folks! One who doesn’t promote the building owner’s agenda, someone who is willing to do the work to discover today’s market clearing rents. Your lease is worth much more to your landlord than you realize, especially in this market.

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The Balancing Authority of Northern California (BANC) on Nov. 25 became the third entity to formally join CAISO’s Extended Day-Ahead Market (EDAM), following PacifiCorp and Portland General Electric (PGE). See Full Story: https://ow.ly/NT2u50Ugs8H Writer: Ayla Burnett

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Q4 2024 Inland Empire Industrial Figures Key Takeaways: - The divergence between the IE West and IE East became more pronounced in Q4 2024 as the IE West continued to show signs of improvement with positive net absorption, falling vacancy rates, and only modest rate declines. - The IE East continued to struggle in Q4 2024 as net absorption remained negative for the fourth consecutive quarter, the vacancy rate increased, and rate decline was more notable at 4.4% quarter-over-quarter. - Despite new leasing and user sales activity declining in Q4 2024 by 39% quarter-over-quarter with only 7.9 million sq. ft. transacting, activity in 2024 saw a 57% increase over 2023, boosted by leasing in all size ranges in both the IE West and IE East. - Construction continued to dwindle with deliveries outpacing starts by almost 3 to 1 as 1.4 million sq. ft. delivered and only 580,000 sq. ft. started in Q4 2024. - Year-over-year, rates declined by 22.1% from $1.49 NNN per sq. ft. per month in Q4 2023 to $1.16 NNN per sq. ft. per month in Q4 2024 as the market readjusted from the unsustainable growth from 2020 to 2022. - The Inland Empire remained an attractive market for occupiers looking to capitalize on relatively affordable rates and landlords poised to sign the next deal. #CBRE #InlandEmpire #IndustrialRealEstate

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One could argue that manufactured housing, including ADUs, is a key solution in the battle to create more #affordablehousing units. Financing is still in short supply for factory-built homes that are titled as real estate. But it's interesting to see that 1 in 5 new homes in #California are now ADUs.

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San Francisco-based BRIDGE Housing Corporation has acquired two multifamily communities in California and Oregon, accelerating its dual-track strategy to use acquisitions to both create and preserve housing for low-income households. The acquisitions of Avalon Berkeley (renamed Viewpoint) in Berkeley and Berry Ridge in the Portland suburb of Gresham, OR will add 319 affordable units to the BRIDGE Housing portfolio. Ken Lombard #cre #multifamily

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I’ve been talking a lot about how to “future-proof” your CRE assets with energy efficiency being an integral part of the strategy. The regulations are already in place so it’s in your best interest to be proactive. California's updated Title 24 introduces new requirements mandating solar and energy storage for all new commercial and industrial buildings. This regulatory shift not only aims at sustainability but also presents opportunities for CRE owners and developers to monetize energy investments. Key highlights include: - Solar systems to cover 60% of electricity needs - Mandatory energy storage - EV charging mandates

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In our latest #BTR report, we talked about all the capital that had poured into the sector in recent years and how that capital is now being deployed in new developments and new acquisitions. This article by Angela Gonzales (who covers the BTR sector as well as anyone) highlights several projects that are on the way. You should definitely read Angela's article, and if you want to read our latest report while waiting for trick-or-treaters you can find it below: https://lnkd.in/gJbiZ-7a

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The Avison Young Q2 2024 #LosAngeles Industrial Market report is here! The Los Angeles industrial market displayed signs of resiliency in Q2 2024 with sublet availabilities decreasing by 9.2% from the prior quarter to 8.7 MSF. Additionally, ongoing labor negotiations at the East Coast ports may consequently boost additional warehouse demand throughout the Los Angeles industrial market as shippers explore alternatives in order to avoid any delays. Leasing activity increased for the third consecutive quarter with 5.3 MSF leased in Q2 2024. Read more in our quarterly #industrial report: https://bit.ly/3PecK3l #CRE #CommercialRealEstate #SoCal #Research

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I've received a few questions about sublease availability in the IE and wanted to make sure everyone knows CBRE research has been putting a quarterly report focusing on the topic. Reach out to me if you want to see the updated report. Key Takeaways from Q1 2024 report: - The Inland Empire had 18.5 million sq. ft. of sublease space available at the end of Q1 2024. - Sublease space increased by 5.6 million sq. ft. in Q1 2024. - 38.3% of sublease space was vacant. 

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Seattle's office market reached a "clear turning point" in Q4 2024, according to Colliers, with tenant demand increasing despite challenges. Apple’s nearly 193,000-square-foot lease at Arbor Blocks marked the city’s largest deal in five years, highlighting momentum in Class A and Trophy assets. Strategies like turnkey spaces and speculative suites are helping landlords attract tenants amid high construction costs. Meanwhile, Seattle's recovery pace sets it apart from Portland, where office demand remains more subdued, reflecting fewer large-scale lease transactions and slower absorption rates. Both cities are navigating post-pandemic shifts, but Seattle's resurgence may lead the way in the Pacific Northwest. #oregonrealestate #portlandrealestate #oregon #oregonrealtor #portlandrealtor #portlandoregon #pnw #commercialrealestateagent #portland #commercialrealestateagent #pdxrealestate #pdx #pdxrealtor #CRE #pnwcommercialrealestate #officespace #warehouse #realestateinvesting #industrialspace #flexspace #commercialproperty #business #land #portlandrealestateagent

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Great webinar yesterday presented by Jeffrey W. Adler of Yardi Matrix. Some Portland specific notes- - YoY Rent Growth Year-End 2024 - 0.3% - YoY Rent Growth Year-End 2025 - 4.5% High level/national notes- - "Overall, the multifamily market is performing well, as demand continues to soak up supply" - "The supply shortage of U.S. housing is likely to last at least 5-10 years..." - "Rental growth in the next two years will be stronger than this year, as it will take some time for the Fed’s eventual rate cuts to meaningfully impact consumer demand" https://lnkd.in/gnpUW2VZ

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🏡 Rental Trends in 2025: What Every Property Owner in Roseville, Fairfield, and Sacramento Needs to Know The rental landscape is evolving. Tech-savvy tenants, rising rents, and eco-conscious demands are reshaping how we manage properties. 🌿💻 🎯 Get ahead of the market by reading our blog: norcalpm.com  💼 Let Real Property Management Select help you navigate these trends for a successful year ahead.

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CBRE’s Q2 2024 GLA Office figures tell a story of continued market challenges but also highlights the markets what have not only faired well, but are thriving. Parts of West LA and the San Gabriel Valley come to mind. Below are our Team’s observations for the office markets we serve, welcoming any questions or discussion as we all work together with the valued clients we represent and the industry we love being a part of. Kevin Duffy | Natalie Bazarevitsch | Jackie Benavidez | Sean O'Malley | Haley Morales In the Burbank submarket, historically favored by investors as the “Entertainment Capital of the World” and appeal to entertainment & media tenants, only $150 million in transactions were recorded over the past year. The volume of available sublease space has risen significantly, particularly following Warner Brothers' relocation to their new 800,000 SF headquarters at the Second Century project. Coupled with a 3% increase in overall vacancy since Q1, these factors have created favorable tenant market conditions. The Glendale Submarket has encountered a weakening of its fundamentals due to rising vacancy rates, decreasing absorption, and rolling debt challenges. That said, Glendale presents an exceptional opportunity for tenants and investors alike to lease and own quality assets with a strong employee base, close proximity to DTLA, and a skilled labor force. The Pasadena submarket has seen modest rent gains, slightly above Greater Los Angeles market trends. The area's concentration of office buildings, the intellectual capital of Caltech and JPL, and ample amenities for tenants make it an attractive marketplace for healthcare, life science, technology, and artificial intelligence users. Although significant transactions in these sectors have not materialized yet, tenant activity appears to be more robust in Pasadena compared to the rest of the Tri-Cities. The concentration of Financial Services, Engineering, Insurance, Government & service industry providers make for a well-rounded market. The San Gabriel Valley submarket boasts one of the lowest vacancy rates within Greater Los Angeles, maintaining higher occupancies since the start of 2020. Despite generally stagnant rates overall, rents in the SGV steadily increased between 2020 and early 2023, offering more affordable office occupancy costs as compared to its Tri-Cities counterpart. In the last quarter, the difference between average asking rents between the two submarkets was $1.38 per square foot, per month, on a full service gross basis. Additionally, the flight from “urban to suburban” has greatly benefitted the San Gabriel Valley due to its proximity to affordable housing for employees.

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As California continues to face an unprecedented housing crunch, accessory dwelling units (ADUs) have emerged as a promising solution to bolster housing stock in existing neighborhoods. The journey to approval can vary widely, raising the question: how long does it take to get a building permit approved? We have put together a guide to Understanding the ADU Permitting Process in California. Access it here: https://bit.ly/3xQP7dX We hope it's beneficial to your ADU planning. #accessorydwellingunit #accessorydwellingunits #adu #aduamerica #adudesign #aduready #awesomedwellingunit #casita #guesthouse #builder #construction #contractor #steelbuilthome #prefab #modularhome #california #californiarealestate #Sacramento #LosAngelesRealEstate #OCRealEstate #design #designbuild #garageconversion #homedesign #homeremodeling #interiordesign #renovation #home #homeoffice #housing #modularhome #prefab #DesignToDoorstep

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A recent report from the Santa Clara County Assessor shows that property value in Silicon Valley is in decline. Our Housing Trust CFO and Head of Partnerships & Strategy, Julie Rosser Mahowald, explains why this is both good and bad news for affordable housing developers looking to convert commercial real estate: “On one hand, these developers will be able to acquire land at a cheaper price. On the other hand, however, many aren’t getting enough funding from state or federal programs to subsidize the rising costs of construction.” The report also highlights two completed projects that we helped fund: Vitalia, developed by Affirmed Housing (we provided a $7.7 M acquisition loan), and Meridian, developed by Related California (we provided a $2 M predevelopment loan). Read the Silicon Valley Business Journal article here: https://lnkd.in/gXMVfBSs.

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