Status: Just Listed
Price: $4,800,000
Square Feet: 24,896
Value Add Opportunity
JUST LISTED: 27,325 Industrial Building | Oxnard, CA | $3,300,000
New Tax Laws Subtly Affect Commercial Real Estate; Could Alter Capital Flows, Business Structures and Portfolio Strategies
1031 Exchange: Tax-deferred exchange unchanged for real estate. Both the House and Senate versions make no changes to the real estate portion of tax-deferred exchange rules. ■ Business Interest Deduction: Under the House version, the deduction of interest on real estate would be unchanged for real estate businesses. The Senate version also..
Just Closed: Owner/User Building in Simi Valley
Just Closed: Woodland Hills Trophy Office Investment
WOODLAND HILLS, CA, August 25, 2017 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of 22144 Clarendon Street, a 44,648 -square foot trophy office property located in Woodland Hills, CA right off the 101 freeway, according to Adam P. Christofferson, regional manager of the firm’s Ventura office.
Gary Cohen, Director National Office and Industrial Specialty Group and James DeBuiser, Associate in Marcus & Millichap’s Ventura office, had the exclusive listing to market the property on behalf of the seller, Equity Office. The buyer was a private 1031 exchange buyer. The property was 84% occupied at the time of sale.
Status: Sold
Price: $10,000,000
Building Size: 44,648 sq ft
Price Per Square Foot: $224.00
U.S. Industrial Midyear Outlook
- Major seaport markets dominate the top of the 2017 National Industrial Index, led by Seattle-Tacoma with one of the nation’s lowest anticipated vacancy rates and exceptional rent growth in the sector. Orange County and Los Angeles rode to the top with two of the nation’s busiest seaports, accounting for the
Vacancy Up Due to Elevated Class A Deliveries; Rising Rents Point to Positive Momentum
The national apartment vacancy rate increased in the first quarter due to a combination of high Class A construction deliveries and historic fourth quarter absorption weakness being pushed into the first quarter. However, a 4.1 percent rise in the overall average rent and 242,000 units absorbed over the past year point to the underlying strong demand drivers for multifamily.
JUST SOLD!
SIMI VALLEY, CA, June 8, 2017 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of 2045 Royal Avenue, a 24,417-square foot office property located in Simi Valley, CA, according to Adam P. Christofferson, regional manager of the firm’s Ventura office. The asset sold for $6,500,000 ($266/sf).
Gary Cohen, Director National Office and Industrial Specialty Group and James DeBuiser, Associate in Marcus & Millichap’s Ventura office, had the exclusive listing to market the property on behalf of the seller, The Johnston Group, a multi-faceted real estate development and management firm with a large presence in the western US. The buyer, Royal-SV, LLC, was secured by our colleagues, David Benjamin, Associate and Ben Tashakorian, Senior Managing Director Investments in Marcus & Millichap’s San Diego office. The property was 100% occupied with a variety of medical and medical related tenants at the time of sale.
2017 Office Investment Forecast
- Net absorption of approximately 83 million square feet will generate a 20-basis-point decline in the U.S. vacancy rate to 14.3 percent, marking the low point of the current cycle. The reduction in vacancy will spur an increase in the average asking rent of 3.5 percent.
- This year likely marks the high point in completions for the current cycle, as construction lenders maintain a conservative approach to underwriting office construction. Developers will complete 82 million square feet of
Hiring Bounces Back in January, Offers Upbeat Commercial Property Outlook
Hiring Bounces Back in January,
Offers Upbeat Commercial Property Outlook
Broad-based and robust hiring during January extends last year’s labor market momentum. Other indicators were also positive last month and show a tight labor market, imposing a potential headwind for employers this year. The shrinking labor pool and potential misalignments of skills required to fill open positions may moderate hiring to less than 200,000 jobs per month in 2017.The average hourly wage rose 2.5 percent over