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Television production is making its way back to Los Angeles, and with that, many producers are looking for soundstage space. However, there appears to be a shortage of commercial leases for this type of space, as cable channels and streaming companies are shooting throughout the year to meet the demand of viewers. In fact, at some studios, occupancy levels have reached brand-new highs. Based on industry insiders, this real estate space crunch stems from many factors. First, many producers are claiming Los Angeles as their home again to take full advantage of the state’s expanded tax incentives. Second, these producers are facing strong competition from Amazon, Netflix and Buzzfeed. These companies have signed long-term leases and are producing more original shows. Another factor in the shortage of real estate is that new construction is lacking for studios. This is occurring because the land value in Los Angeles is continuing to skyrocket, so developers are not viewing soundstages, which span acres, as a good investment. New studio lots simply are not keeping up with the increase in demand. In light of the high demand for soundstage space, now may be a beneficial time for producers to quickly pursue available commercial leases while they can still find them, and before the cost of renting goes up even more over time. However, the negotiation process can be challenging, especially in today’s competitive real estate environment in Los Angeles. An attorney can help with the negotiation process so that a business owner’s needs and interests are considered in a lease before the lease is signed. Source: latimes.com, “ TV production is soaring in L.A. But that means more competition for soundstages “, David Ng, June 6, 2017

Television production is making its way back to Los Angeles, and with that, many producers are looking for soundstage space. However, there appears to be a shortage of commercial leases for this type of space, as cable channels and streaming companies are shooting throughout the year to meet the demand of viewers. In fact, at some studios, occupancy levels have reached brand-new highs. Based on industry insiders, this real estate space crunch stems from many factors. First, many producers are claiming Los Angeles as their home again to take full advantage of the state’s expanded tax incentives. Second, these producers are facing strong competition from Amazon, Netflix and Buzzfeed. These companies have signed long-term leases and are producing more original shows. Another factor in the shortage of real estate is that new construction is lacking for studios. This is occurring because the land value in Los Angeles is continuing to skyrocket, so developers are not viewing soundstages, which span acres, as a good investment. New studio lots simply are not keeping up with the increase in demand. In light of the high demand for soundstage space, now may be a beneficial time for producers to quickly pursue available commercial leases while they can still find them, and before the cost of renting goes up even more over time. However, the negotiation process can be challenging, especially in today’s competitive real estate environment in Los Angeles. An attorney can help with the negotiation process so that a business owner’s needs and interests are considered in a lease before the lease is signed. Source: latimes.com, “ TV production is soaring in L.A. But that means more competition for soundstages “, David Ng, June 6, 2017

The southern part of California, including Los Angeles, features some of the most-coveted real estate in the nation. Areas near the ocean are seeing significant activity bursts among real estate developers interested in creating properties and offering commercial leases. Among the challenges they face is the demand for a limited amount of space. In the city of Marina Del Rey, the developer AMLI is currently finishing the construction of more than 580 residential units as part of a development valued at $165 million. This development, which resembles a boathouse, features a retail component as well. Another in-demand area near Los Angeles is Huntington Beach, where a luxury unit development recently started taking tenants this year. These units are part of a hospitality and retail project that spans more than 30 acres. Many of those buying into these areas are wealthy baby boomers who are interested in second homes and retirement homes. In addition, the areas around Venice and Santa Monica are attracting young professionals who are interested in participating in the booming startup environment. Because of the lack of space available in Southern California, many developers have resorted to creating mixed-use development proposals that mix residential units with entertainment and retail options. Getting into the prime business spots in Southern California is possible through commercial leases. However, failure to understand how leases work may result in a business owner getting the raw end of the deal, so to speak. An attorney in California can help business owners to review potential leases and negotiate them in a manner that protects their best interests in the long run. Source: latimes.com, “ New real estate developments abound up and down the coast, but challenges persist “, Tiffany Hsu, June 10, 2017

The southern part of California, including Los Angeles, features some of the most-coveted real estate in the nation. Areas near the ocean are seeing significant activity bursts among real estate developers interested in creating properties and offering commercial leases. Among the challenges they face is the demand for a limited amount of space. In the city of Marina Del Rey, the developer AMLI is currently finishing the construction of more than 580 residential units as part of a development valued at $165 million. This development, which resembles a boathouse, features a retail component as well. Another in-demand area near Los Angeles is Huntington Beach, where a luxury unit development recently started taking tenants this year. These units are part of a hospitality and retail project that spans more than 30 acres. Many of those buying into these areas are wealthy baby boomers who are interested in second homes and retirement homes. In addition, the areas around Venice and Santa Monica are attracting young professionals who are interested in participating in the booming startup environment. Because of the lack of space available in Southern California, many developers have resorted to creating mixed-use development proposals that mix residential units with entertainment and retail options. Getting into the prime business spots in Southern California is possible through commercial leases. However, failure to understand how leases work may result in a business owner getting the raw end of the deal, so to speak. An attorney in California can help business owners to review potential leases and negotiate them in a manner that protects their best interests in the long run. Source: latimes.com, “ New real estate developments abound up and down the coast, but challenges persist “, Tiffany Hsu, June 10, 2017

Southern California currently is in a seller’s commercial real estate market. This is largely due to the imbalance between supply and demand — or the available buildings versus businesses that are interested in expanding. This current trend impacts those involved with commercial leases in Los Angeles. One reason for the imbalance that exists between supply and demand is the fact that there is not much new construction. Part of the reason for this lack of brand-new construction is the lack of land that is still undeveloped in the southern part of the state. Most of the new building that has taken place during the past few years involved razing existing yet obsolete buildings to create new buildings. In addition, new construction is lacking simply because it is expensive. Land prices remain a major element to consider in new construction. In fact, in some cases, the price of land makes up half of the cost, particularly when old buildings have to be demolished. Furthermore, local counties and cities have stringent regulatory requirements that drag out the time it takes to erect new buildings. For those interested in selling their commercial properties, now appears to be an ideal time due to the growing demand for them. In light of this, businesses that wish to grow and are thus looking for commercial leases must be aggressive in order to claim them in the current market. An attorney in Los Angeles can help with the process of negotiating leases in a manner that ultimately protects business owners’ best interests so that they can avoid making mistakes that will end up costing them financially down the road. Source: ocregister.com, “ A shortage of commercial real estate — Why? “, Allen Buchanan, June 10, 2017

Southern California currently is in a seller’s commercial real estate market. This is largely due to the imbalance between supply and demand — or the available buildings versus businesses that are interested in expanding. This current trend impacts those involved with commercial leases in Los Angeles. One reason for the imbalance that exists between supply and demand is the fact that there is not much new construction. Part of the reason for this lack of brand-new construction is the lack of land that is still undeveloped in the southern part of the state. Most of the new building that has taken place during the past few years involved razing existing yet obsolete buildings to create new buildings. In addition, new construction is lacking simply because it is expensive. Land prices remain a major element to consider in new construction. In fact, in some cases, the price of land makes up half of the cost, particularly when old buildings have to be demolished. Furthermore, local counties and cities have stringent regulatory requirements that drag out the time it takes to erect new buildings. For those interested in selling their commercial properties, now appears to be an ideal time due to the growing demand for them. In light of this, businesses that wish to grow and are thus looking for commercial leases must be aggressive in order to claim them in the current market. An attorney in Los Angeles can help with the process of negotiating leases in a manner that ultimately protects business owners’ best interests so that they can avoid making mistakes that will end up costing them financially down the road. Source: ocregister.com, “ A shortage of commercial real estate — Why? “, Allen Buchanan, June 10, 2017

Throughout the United States, including in Los Angeles, lease rates for commercial properties are astonishing. When the market took a plunge during the Great Recession of 2008, the country lost between 40 and 50 percent of its values during in just six months to one year. Now, commercial leases are gaining steam. Back in the recession days, many real estate experts wondered if the market for commercial property would recover at some point. Finally, an increase in sales prices was witnessed following changes to the country’s tax law in 2012. During the following three years of 2013 to 2015, selling prices immensely appreciated. During this period, real estate experts expected commercial lease rates to go up, too. However, the increase in the rates is far greater than many imagined. The rates for Class A industrial leases started to approach a dollar per square foot by 2017. In addition, sales prices have surpassed even the highs of 2007 and are currently eclipsing 2016’s numbers. Obsolete buildings are surprisingly drawing more attention than ever before. In the past, contemporary buildings were in demand, but in light of the shortage of buildings available, even the oldest buildings are becoming prime property — in other words, these ugly ducklings have transformed into beautiful swans. Thus, historic prices have been witnessed. For business owners who are interested in taking advantage of commercial leases while opportunities can still be found, an attorney in Los Angeles can help with looking over and even negotiating lease agreements to ensure business owners and investors avoid costly pitfalls in their effort to secure today’s in-demand spaces for lease. Source: ocregister.com, “ 6 random commercial real estate thoughts “, Allen Buchanan, May 6, 2017

Throughout the United States, including in Los Angeles, lease rates for commercial properties are astonishing. When the market took a plunge during the Great Recession of 2008, the country lost between 40 and 50 percent of its values during in just six months to one year. Now, commercial leases are gaining steam. Back in the recession days, many real estate experts wondered if the market for commercial property would recover at some point. Finally, an increase in sales prices was witnessed following changes to the country’s tax law in 2012. During the following three years of 2013 to 2015, selling prices immensely appreciated. During this period, real estate experts expected commercial lease rates to go up, too. However, the increase in the rates is far greater than many imagined. The rates for Class A industrial leases started to approach a dollar per square foot by 2017. In addition, sales prices have surpassed even the highs of 2007 and are currently eclipsing 2016’s numbers. Obsolete buildings are surprisingly drawing more attention than ever before. In the past, contemporary buildings were in demand, but in light of the shortage of buildings available, even the oldest buildings are becoming prime property — in other words, these ugly ducklings have transformed into beautiful swans. Thus, historic prices have been witnessed. For business owners who are interested in taking advantage of commercial leases while opportunities can still be found, an attorney in Los Angeles can help with looking over and even negotiating lease agreements to ensure business owners and investors avoid costly pitfalls in their effort to secure today’s in-demand spaces for lease. Source: ocregister.com, “ 6 random commercial real estate thoughts “, Allen Buchanan, May 6, 2017

After developing a strong business plan, an aspiring business owner may be ready to finally sign a lease. Commercial leases make it possible to have a storefront that can draw customers without having to buy a property outright. However, choosing the right property to lease in Los Angeles and surrounding communities is critical for long-term business success. Location is a particularly important factor when it comes to leasing commercial property. If business owners would benefit from having many walk-ins, they may want to choose areas that have high levels of foot traffic and are easy for the public to access. For instance, a coffee shop would likely do much better in a pricier downtown area versus a remote industrial park outside of the city. Parking is another essential consideration when thinking about leasing. An appropriate number of parking spaces is especially important for businesses like workout facilities or restaurants. After all, worrying about being ticketed or constantly having to feed the meter will only tarnish an otherwise good experience with lifting weights or eating a delicious meal. Other critical factors to consider include whether the facility’s lighting is adequate, the layout meets the needs of the business, if the business’s suppliers can easily access the facility and if the facility is in a safe part of the city. An important question to ask is whether the landlord will agree to make necessary repairs as well. An attorney in Los Angeles can help with negotiating and reviewing commercial leases to make sure that they ultimately meet a business owner’s unique needs. Source: findlaw.com, “ Choosing a Facility Checklist “, Accessed on May 22, 2017

After developing a strong business plan, an aspiring business owner may be ready to finally sign a lease. Commercial leases make it possible to have a storefront that can draw customers without having to buy a property outright. However, choosing the right property to lease in Los Angeles and surrounding communities is critical for long-term business success. Location is a particularly important factor when it comes to leasing commercial property. If business owners would benefit from having many walk-ins, they may want to choose areas that have high levels of foot traffic and are easy for the public to access. For instance, a coffee shop would likely do much better in a pricier downtown area versus a remote industrial park outside of the city. Parking is another essential consideration when thinking about leasing. An appropriate number of parking spaces is especially important for businesses like workout facilities or restaurants. After all, worrying about being ticketed or constantly having to feed the meter will only tarnish an otherwise good experience with lifting weights or eating a delicious meal. Other critical factors to consider include whether the facility’s lighting is adequate, the layout meets the needs of the business, if the business’s suppliers can easily access the facility and if the facility is in a safe part of the city. An important question to ask is whether the landlord will agree to make necessary repairs as well. An attorney in Los Angeles can help with negotiating and reviewing commercial leases to make sure that they ultimately meet a business owner’s unique needs. Source: findlaw.com, “ Choosing a Facility Checklist “, Accessed on May 22, 2017

A lengthy boom in real estate in California is expected to continue to benefit Los Angeles. In fact, a recent survey by CBRE Group, a commercial real estate services firm, indicated that Los Angeles was in first place among cities drawing investors interested in purchasing North American property. As a result, the number of commercial real estate purchases and commercial leases is expected to remain strong in 2017. Los Angeles is very attractive among real estate investors these days due in part to the strong job growth in part of the state. In fact, there is more job growth in Los Angeles than in San Jose and San Francisco combined. This is likely because the city has much of what the millennial generation likes: Hollywood, Venice, beaches and mountains. In addition, Silicon Valley is lacking in office space. However, Los Angeles has a fairly large amount of available space, so technology companies are increasingly eyeing the City of Angels for property. Furthermore, Los Angeles is generally cleaner than many other cities around the world, with its emissions-control program making the city attractive internationally. As commercial leases continue to become available in Los Angeles, more businesses can take advantage of them in an effort to grow their presence and profits in this in-demand city. However, negotiating a commercial lease can be tricky. An attorney can help with the negotiation process so that a business owner’s long-term goals are considered in the terms of the agreement before he or she signs the contract. Source: latimes.com, “ Is the real estate market about to crash? No way, says this CEO — and here’s why “, Roger Vincent, May 27, 2017

A lengthy boom in real estate in California is expected to continue to benefit Los Angeles. In fact, a recent survey by CBRE Group, a commercial real estate services firm, indicated that Los Angeles was in first place among cities drawing investors interested in purchasing North American property. As a result, the number of commercial real estate purchases and commercial leases is expected to remain strong in 2017. Los Angeles is very attractive among real estate investors these days due in part to the strong job growth in part of the state. In fact, there is more job growth in Los Angeles than in San Jose and San Francisco combined. This is likely because the city has much of what the millennial generation likes: Hollywood, Venice, beaches and mountains. In addition, Silicon Valley is lacking in office space. However, Los Angeles has a fairly large amount of available space, so technology companies are increasingly eyeing the City of Angels for property. Furthermore, Los Angeles is generally cleaner than many other cities around the world, with its emissions-control program making the city attractive internationally. As commercial leases continue to become available in Los Angeles, more businesses can take advantage of them in an effort to grow their presence and profits in this in-demand city. However, negotiating a commercial lease can be tricky. An attorney can help with the negotiation process so that a business owner’s long-term goals are considered in the terms of the agreement before he or she signs the contract. Source: latimes.com, “ Is the real estate market about to crash? No way, says this CEO — and here’s why “, Roger Vincent, May 27, 2017