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Market Update & Current Development Projects
INDUSTRIAL Brandon Carrillo, Principal Garrett Massaro, Principal OFFICE Jeff Coburn, Principal Shaun McCullough, Principal
Market Update & Current Development Projects OFFICE INDUSTRIAL - - PowerPoint PPT Presentation
Market Update & Current Development Projects OFFICE INDUSTRIAL - - PowerPoint PPT Presentation
Market Update & Current Development Projects OFFICE INDUSTRIAL Jeff Coburn, Principal Brandon Carrillo, Principal Shaun McCullough, Principal Garrett Massaro, Principal Are We in the Final Innings? Demand Outstripping Supply (Vacancy
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- Demand Outstripping Supply (Vacancy Rate 1%)
- Marijuana Conundrum (We have seen this before in Denver)
- Cities being overly proactive on use approvals (Carson Example)
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- Office Vacancy Rate Continues to Decline (Close to Healthy Vacancy
Rate of 12%)
- CAP Rates are depressed for all sectors of Commercial Real Estate in
Key Markets
- Class A Rates: 3.9% - 4.5%
- Class B Rates: 4.75% - 6%
- Class C Rates: 6.1% - Higher
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DEVELOPMENTS
1331-1351 Orizaba Avenue, Long Beach
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1333 – 1351 Orizaba
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1333 – 1351 Orizaba
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1333 – 1351 Orizaba
1331-1351 Orizaba Avenue, Long Beach
- Existing Industrial building being refurbished and repurposed
- 10 Suites ranging from 2,470 SF – 7,182 SF
- Adding Extensive Glass Lines and creative features
- Pricing $200 - $250 psf cold shell
- $50 per Office SF Tenant Improvement Allowances Available
- Core and Shell completion expected by end of year 2017
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DEVELOPMENTS
The Terminal at Douglas Park
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The Terminal At Douglas Park
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The Terminal At Douglas Park
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The Terminal At Douglas Park
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The Terminal At Douglas Park
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DEVELOPMENTS
2310 Long Beach Blvd, Long Beach
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2310 Long Beach Blvd
2310 Long Beach Blvd, Long Beach Before After
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2310 Long Beach Blvd
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2310 Long Beach Blvd
2310 Long Beach Blvd, Long Beach
- Complete Façade Refurbishment and Replacement
- Custom Designed Features to Create Unique Appearance
- Refurbishment Complete August, 2017
- Currently available for both Sale or Lease
- Sale: $150 psf or $1,945,650
- Lease: $0.85 psf or $11,025 per month
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DEVELOPMENTS
CSULB Technology Park Build To Suit
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CSULB Technology Park
CSULB Technology Park Build To Suit
- Currently going through Entitlements
- Proposed / Approximate 34,200 SF building
- Warehouse / Distribution
- Pricing: TBD
- Availability: 12 – 24 Months.
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Trends for 2017 and Beyond…
- 2017 will be another strong year for Commercial Real Estate
- 2018 should be strong with signals of a correction in Q3/Q4
- Continued CAP Rate Compression on Class A and widening CAP Rates
between Class A and Class B (sound familiar 2007??)
- US Real Estate remains attractive to foreign buyers, despite the Trump
Factor
- Last Mile E-Commerce users will continue to value location over building
functionality
- Bottom Line: Commercial Real Estate will continue to be in strong demand,
especially Industrial. 2017 should be another strong year. Things that can throw our markets off here locally and worldwide is possible impeachment
- f Trump and a Pence presidency…
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Questions?
Brandon Carrillo | Principal Direct: 562.354.2510 Cell: 714.746.1345 Garrett Massaro| Principal Direct: 562.354.2516 Cell: 562.546.3006
Lee & Associates | Los Angeles – Long Beach, Inc. 5000 E. Spring Street, Suite 600 Long Beach, California 90815
Jeff Coburn| Principal Direct: 562.354.2511 Cell: 562.547.7794 Shaun McCullough| Principal Direct: 562.354.2517 Cell: 562.234.5370