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California Commercial Real Estate News Roundup 2019

July 11, 2019

California CRE Highlights & Headlines of Leases & Transactions

We put together a list of transactions, lease highlights, and development projects around California’s commercial real estate market. The list also covers financial factors that are important for property owners and investors to know.

California Commercial Real Estate News LA

California Commercial Real Estate News Q2 2019

California commercial real estate news highlights in Q2 2019 include: California’s growing commercial property sector, coworking spaces acquiring more market share in the office real estate sector, grocery stores adapting to new age retail trends, and Sacramento getting a facelift.

 

California’s Growing Commercial Property Sector Highlighted by North Bay Warehouse Construction Projects

Within a short amount of time, a few million square feet of warehouse and other industrial commercial real estate spaces have been built or are in progress in the North Bay area. These projects are a sign of the growing CRE sector in California and highlights California’s presence on a national scale for the industry. Read More

 

Disney’s Marvel & Superhero-Themed Land in the Works

Riding the wave of recent success from their Marvel franchise, Disney is looking to capitalize on the fanfare with a special theme park. Disney is currently in the works with a Star Wars land, so it is no surprise that they are adding to their arsenal of family entertainment. Read More

 

A Peek Inside Apple’s “Earthquake-Ready” Headquarters

Apple recently completed their spaceship-inspired headquarters in Silicon Valley; however, one of the little known facts about the building is that it is “earthquake-ready”. It is apparently one of the few Silicon Valley buildings that is built with seismic protection technology in the area. Read More 

 

Longfellow Real Estate Partners Bolsters San Diego Portfolio with Purchase of Sorrento Valley Property

Longfellow acquired Sycamore Creek Research Park for $26.7 million. The campus is 86K+ square feet and is currently 70% occupied. Sorrento Valley is San Diego’s tech / biotech hub located right off the I-5 linking the city directly to its northern neighbor Los Angeles all the way to San Francisco and Seattle in the Pacific Northwest. Read More

 

Canadian Developer, Onni Group, Receives $550M Loan to Acquire 1M SF Office Campus in Miracle Mile, Los Angeles

The Vancouver-based real estate developer just acquired $550M loan from Natixis to purchase the Wilshire Courtyard in the Miracle Mile neighborhood of Los Angeles. The 1 million square foot office campus is currently for sale by Tishman Speyer for $630M. Read More

 

The Golden State Is Gearing Up for Major Building Spree

Supported by a state budget that is fiscally thriving, the California state government is getting ready to unleash $1 billion on new projects in the state’s capital. The goal is to refurbish and replace outdated buildings in Sacramento. Read More 

 

Coworking Continues to Occupy Greater Share of Office Market

Absorption and vacancy rates have trended in positive directions for the last decade for offices in California. One of the major market disruptors with co-working, WeWork, is responsible for a significant influence in these trends. It is estimated that WeWork has accounted for 15% of absorption in San Francisco alone, and 9% in Los Angeles as well as 5% in San Diego, respectively. Read More

 

LA County Office Tower Purchased by TA Realty for $139M

The 340,000 square foot building recently sold to TA Realty prior to Northrop Grumman’s lease expiration. They were the sole tenant of the building. Read More

 

Grocery Stores Evolving to Provide More Tech & Smaller Retail Locations

The shift in the retail industry due to e-commerce (Amazon, et all) forced traditional grocery stores to make changes to their operations. Grocers are adapting by becoming more nimble and up-t0-date. Read More

 

Netflix Set to Occupy Even More Office Space in Los Angeles

The online streaming giant inked leases for two new spaces near their headquarters in Los Angeles. The deals add another 170,000 square feet to their presence in Southern California, making a total presence of nearly 1.3 million square feet. Read More

Northern California Commercial Real Estate News

California CRE News Q1 2019

This quarter’s California commercial real estate news highlights include: consumer confidence rising in The Golden State, SF & LA office markets ranking worldwide, how climate change could affect properties on California’s coastline, and major leases around the state.

 

Consumer Confidence Rises in California Contrary to the National Sentiment

California continues to be a healthy choice for investments and fiscal opportunities, especially when it comes to commercial real estate. Connect covers the key points of how the consumer confidence is rising in The Golden State compared to the overall sentiment nationwide. Read More

 

The President Plans to Cancel $1 Billion Funding for Bullet Train in California

The highly contested railroad project connecting Los Angeles to San Francisco hit another speed bump. President Trump and the US Department of Transportation are pulling back on funding for the major high-speed train set to connect Southern and Northern California. Read More

 

San Francisco & Los Angeles in Top-30 Most Expensive Office Markets Worldwide

The most recent Global Outlook Report by Knight Frank covers past and present rates for office spaces in major cities around the world. Hong Kong tops the list with a plethora of other cities around the globe representing the most expensive office commercial real estate markets. Read More

 

$150 Billion of Real Estate on California’s Coastline at Risk Due to Climate Change

Recent research released by the US Geological Survey (USGS) suggests that over $1 trillion of property is at risk due to rising sea levels and other climactic changes in the coming years. California possesses a massive amount of such properties due to its coastline. Understanding the risks is the best way to protect your assets. Read More

 

How One Real Estate Investment Firm Evolved the Market in Hollywood

Hudson Pacific, the largest independent owner of studio spaces in the United Space is celebrating its 100-year anniversary. Here’s a look back at how it influenced the real estate market in and around Hollywood. Read More

 

Credit Karma Signs One of the Largest Leases in Oakland Over the Last Few Years

San Francisco-based financial tech company, Credit Karma, signs lease for an office building with 106K square feet. The company currently has over 1,000 employees and is using this move as an opportunity to expand and grow. Read More

 

Google Set to Replace Macy’s & Nordstrom in LA Mall

The Silicon Valley-based tech giant is set to occupy a former 584K square foot shopping mall and turn it into a creative office campus for its operations. Read More

 

National CRE News: 4 Ways the Federal Tax Cuts Affect CRE Investors

While the overall effect of the new tax laws that started in 2018 is hard to predict, there are some major benefits that can be capitalized on initially for commercial real estate owners and investors alike. Read More

 

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