Mixed-use developments in California aren’t new. In the last ten years, developers have been renovating various old commercial buildings to create complexes with both commercial and residential units. Such developments are ideal for the Golden State as a chronic shortage of residential units has made it difficult if not impossible for many people to find
The real estate industry has periodic ups and downs. However, the current market is facing a number of unprecedented challenges. Rising interest rates have made sales difficult or even impossible in some instances. Furthermore, they have led to the collapse of some banks and caused many others to limit credit options for investors and potential
It’s no secret that a growing number of people and companies are choosing remote work arrangements. The percentage of people working from home grew from 9 million in 2019 to 27.6 million in 2021. What’s more, experts believe there will be over 36 million American remote workers by 2025. Naturally, this is taking a huge
In May 2023, commercial real estate prices fell for the first time in twelve years. What’s more, Moody Analytics’ chief economist Mark Zandi is predicting that, by the time mid-2020s, prices will plunge 10% lower than their peak in the mid-2010s. This isn’t welcome news to most commercial real estate investors. However, some experts note
There is no doubt that the real estate market is in for a turbulent time. Mortgage applications have dropped to a 28-year low, Columbia Property Trust Inc. has defaulted on $1.7 billion in loans, and Business Insider is warning that Americans have yet to feel the full impact of the FED’s continual rate hikes in
Measure ULA, commonly known as the “Mansion Tax,” would impose a new “Homelessness and Housing Solutions Tax” on transfers of residential and commercial real property in Los Angeles valued in excess of $5 million. The new law is slated to come into effect on April 1, 2023. What does this mean for you? A tax of 4
It’s no secret that retail real estate took a hit during the COVID-19 lockdowns. Businesses shut down or went fully online, leaving many retail real estate investors with losses and no easy way to find new tenants. However, not all is gloom and doom for the retail real estate industry.
Firms that need to purchase new land for industrial purposes are finding the options are few and expensive. This has led many companies to take drastic action that would have been unthinkable even a couple of years ago, including purchasing lots larger than currently needed and sub-letting the space until the firm is ready to use it.
The COVID-19 pandemic and ensuring lockdowns resulted in a whopping 15,500 stores closing in 2020 alone, and many predicted that brick and mortar businesses, in general, would not recover from the loss. Indeed, many stores have shut down for good, never to return. At the same time, as other experts note, the massive closures have actually helped the market bounce back faster than it may have otherwise. However, it looks like the r
Real estate investors and REITs buy, sell, and manage portfolios of valuable properties. So when it comes to streamlining their various workflows, they need top of the line tools that can save them time, money and effort. Peak Commercial understands that you need every advantage possible in the real estate sector — like the following
