Latest Commercial Real Estate Market News & Investment Advice in Los Angeles
Get the latest Los Angeles commercial property listings and market updates as soon as they become available.
Commercial Properties Advance to 2007 Peak
August, 2014
by Karl Niehaus, President, CREI
Commercial Overview:
Commercial Properties Advance to 2007 Peak, with pricing for retail properties are now within 11.4% of it's previous high. The retail index rose 15% over the 12 - month period, the strongest annual gain among the four major property types, according to the CCRSI. Overall industrial and office property prices are within 14.4% and 21,2% of their previous highs, respectively, while pricing in the multifamily sector, is now 1% above it's previous peak. The retail market continues to change though with national tenants notlooking fornew locations as they were in the past. Many operators, such as Boarders, have shutdown, or in the case of Best Buy, are downsizing. Aside from your largest retailers such as Walmart and Target, all other concepts have faded or evolved. The 40, 000 - square-foot retailers are becoming 20,000SF, and 20,000SF tenants are becoming10,000SF. Restaurants and discount stores, however are doing verywell. Even with rents rising, retailers such as 99Cents only stores, Marshals, and Rose Dress for Less are expandin. Given their success, they remain a good option for vacant boxes which is great news for property owners.
"We appreciate his expertise, attention to detail, tireless work ethic and outstanding communication skills."
Karl Niehaus represented us for our just completed first commercial property purchase. Cannot say...
"I felt that Karl was always looking out for my well-being as his top priority."
Karl Niehaus was my broker for the purchase of my first 1031 tax exchange property. I knew very...
"The overall real estate trophy of the century goes to Karl Niehaus!"
I met Karl Niehaus several years ago during what turned out to be one of the longest escrows in...
"Very much available and helpful"
CREI expertly guided a commercial property sale through this very challenging time during Covid....
Are you looking to sell or lease your retail property, strip center, shopping center, office building, commercial land, or apartment building?
Our complimentary commercial property evaluation combines real estate valuations and our leading market insights and expertise.
Your message has been sent.
