Report: Southern California’s commercial market is booming
Southern California’s commercial real estate market is booming, according to new report from Coldwell Banker Commercial.The company’s
More info @ http://www.dailynews.com/business/20170423/report-southern-californias-commercial-market-is-booming
Southern California’s commercial real estate market is booming, according to new report from Coldwell Banker Commercial.
The company’s Blue Book market intelligence report for 2016 says the region is gaining traction in a variety of areas, ranging from business expansion and low office vacancy rates to an increase in land sales and strong activity at the ports of Los Angeles and Long Beach.
The report notes, for example, that four new companies have leased nearly 40,000 square feet of research and development space in Pasadena over the past six months. And Kaiser Permanente continues to expand its office and medical space in the city.
Further west, Snap Inc., parent company of Snapchat, expanded and leased 300,000 square feet of space at Santa Monica Business Park. The report also highlights a variety of new construction projects that are underway in downtown Los Angeles, Hollywood and Playa Vista.
Northrop Grumman, which was awarded an $80 billion contract to develop a long-range strike bomber, will be expanding its 1.5 million-square-foot facility in Palmdale with another 340,000 square feet. That’s expected to bring about 6,500 jobs to the Antelope Valley when the planes are built at Plant 42 in Palmdale.” Positive Real Estate News – http://www.facebook.com/pages/p/166701730035514
April 24, 2017 at 10:53AM