Los Angeles businesses may be uncertain of what zoning is or why it is important to them. It is highly important for businesses to make certain that the zone for their intended property allows them to conduct their operations as they intended.
California residents may be interested in a new forecast issued by the Urban Land Institute for Capital Markets and Real Estate. The study, which was released April 8, indicates that the commercial real estate industry is likely to enjoy sustainable growth nationwide for at least three more years. The prediction, made by industry economists, is based on a mix of strong property and economic market fundamentals.
A franchise is a legal agreement by which a business is allowed to use the name, service mark, advertising symbol or trademark as an identifier under which they do business. When a business purchases a franchise from a company, the business will then have formed a commercial and legal relationship with the franchisor.
In California, there are various types of zoning under the law, which determines the allowable use of a given piece of property and the type of building or business that can be located in an area. Zoning differs depending on whether the land is located in a rural or urban area, and there are subcategories of zones within both urban and rural locations.
California' Proposition 13 was first implemented in 1978. One important aspect of this amendment to the state constitution is that it freezes the tax-assessed value of properties when property is purchased and limits assessment increases to two percent each year.
A company called Parallel Capital Partners has just made an office acquisition for $102 million in Long Beach. This most recent purchase consisted of buying 383,700 square feet of property with a 20 story tower and it marks the second acquisition that the company has made in Southern California in just two weeks.
The real estate downturn in 2008 has left many investors taking the cautious approach when it comes to the purchase of property. This is in part because many high-risk property fund managers went under during that period - especially ones that relied upon debt financing. It is for this reason that investors are increasingly interested in core real estate.
We are seeing a number of hedge funds investing in ventures such as hotels and malls. This is all in the backdrop of in excess of $1 trillion in commercial real estate debt being originated. Many borrowers require more funds than banks are willing to loan.