It’s been an art gallery for the past 20 years. A good and rare opportunity to develop professional business with two residential units possible, ocean view. Call Gretchen at (949) 760-4013 or email gmiller@transtar.com for more information.
This is a very attractive 2nd floor office space located on North PCH Hwy. It has an entry area with a small office and two larger offices with large windows and a bathroom. Call Gretchen at (949) 760-4013 or email gmiller@transtar.com for more information.
Nice, small office building just off the 5 Fwy. and Crown Valley Parkway in Laguna Niguel has a 374sf office available to rent. The $775/month includes utilities (electric, gas) and once a week janitorial service. Call Robert at (949) 760-4016 or email rtapper@transtar.com for more information.
I’ve spent time over the last several weeks reading through various reports provided by research firms on the fate of commercial real estate in 2008 and beyond. Most are very thorough and provide exceptionally detailed data on each asset class (Retail, Industrial, Multi-Family, Office, Land) as well as the anticipated growth of each of these asset class’ within the top geographic submarkets in this great country. Although quite informative, they take time to read and can be repetitive. In this post, I provide a brief summary of a Cliff Notes version of a very well written report. The report, Emerging Trends in Real Estate, 2008, was written by the Urban Land Institute and PricewaterhouseCoopers in late 2007.
Below you will find a few golden nuggets I gleaned from their report and would like to pass on to you:
The economy will dictate the returns, on whole, of commercial real estate in 2008. Jobs fill Commercial Real Estate as families fill homes. Of all the U.S. markets, major metropolitan Western cities will fair best in any economic condition. Seattle, San Francisco, Los Angeles, San Diego and Denver are considered to be 24/7 “Global Gateways” for the business trade and the population growth that these cities draw. These cities were among the top 10 most desirable markets to buy into according to the Emerging Trends survey.
The hottest asset classes within those key markets for 2008 include Multi-family housing and Industrial warehousing. Investors can’t get enough of them. Look for class B and C apartments that can be improved to attract higher than market rents from former homeowners being foreclosed back into the rental pool. They will also be less risky than Class A product in cities with a strong shadow rental market of high end condos and single family homes—like Las Vegas and Phoenix.
Be careful playing in 2nd and 3rd tier geographic markets as investor flight to quality leave these cities with fewer dollars chasing deals. Good for the buyer; but don’t leave yourself vulnerable to asset depreciation buying into cities tied to the economic strength of one employer or industry. Cities heavy in technology and education, such as San Jose and Austin, have higher prospects among the group.
The survey points toward avoiding rustbelt cities and has Detroit, Cleveland, Pittsburgh, Cincinnati and Columbus having the lowest prospects of improvement and highest risks associated with investment among those surveyed. If you have to be East of the Rockies, then NY,NY is the place to be—but we knew that already anyway…
Housing?—Fugidaboutit! More than $500 billion in Variable Rate Resets are scheduled for 2008—more than twice the amount last year. Foreclosures should be washed out by mid-’09 with the market coming back into balance then.
There’s the nickel tour of the report. Should you like to read it in its entirety, you may purchase it for less than $63 by following this link—–
You can contact Kevin at (949) 760-4014 or email kburger@transtar.com.
Prime retail location in Laguna Beach on South Coast Highway. Great drive-by visibility and pedestrian traffic. Call Gretchen at (949) 760-4013 or email gmiller@transtar.com for more information.
Corner location with visibility on both sides. The second floor has two great offices with a wide open floor plan. Bright and light…beautiful location. Call Kevin at (949) 760-4014 or email kburger@transtar.com for more information!
This is a nice office along Glenneyre Street in downtown Laguna. It is a ground level 3,050sf office space renting for $3.12/sf. Call Gretchen at (949) 760-4013 or email gmiller@transtar.com for more information.
This beautiful property is located on the sand!! Exclusive guard gated Beach Road. This six bedroom/four bath building is currently being used as a duplex. Call Gretchen at (949) 760-4013 or email gmiller@transtar.com for more information.
Open large retail space in heart of the village. Completely redone and ready to move in. Private bathroom and lots of windows for display. Close to French 75 and Surf ‘n Sand. Call Gretchen at (949) 760-4013 or email gmiller@transtar.com for more information!
This is a nice office in a small office building located in Laguna Niguel - only 1 block from the 5 freeway. It’s a second floor office, with full windows on one side allowing for lots of light. The rent is $775/month which includes utilities and once/week janitorial services. Call Robert at (949) 760-4016 or email rtapper@transtar.com for more information.
