Aerial of neighborhood with outline of potential industrial development site
Despite a slowdown in industrial construction due to a normalization of demand, slowing rental growth, elevated borrowing costs, and a flood of new building deliveries over the past several years, there is still a strong demand for developable sites. That demand is fueled by the continued growth of e-commerce (expected to explode from about $6 … Continued
Aerial of city office buildings with overlay of architectural drawings for renovations
As the office market continues to struggle and reasonably priced multifamily housing remains in short supply nationally and throughout Southern California, the obvious answer would appear to be simple: Convert the office buildings to apartments. However, as we documented in a previous post, there are numerous challenges to converting office products to multifamily. Only about … Continued
Hallway of glass offices and conference rooms with seating area in high-end office building
As companies grapple with finding the right hybrid strategy to serve their business and their employees best, the outlook for the long-term fate of the office market — both sales and leasing — remains uncertain. In this post, we’ll look at the national picture and then zoom in on Southern California markets, specifically Orange County … Continued
2024 SoCal Trends overlay on an industrial shop photo
Like much of the country, the industrial market in Southern California is seeing a return to “normal.” Despite vacancy rates that have doubled or tripled in each of Voit’s markets year-over-year, they still remain historically low — between 2.57% (Orange County) and 4.87% (Inland Empire). All are below the national average, estimated to be around … Continued
Employees working in an open office plan
As the hybrid work model continues to evolve — with more companies like Amazon, Goldman Sachs, Salesforce, and Meta insisting on a return to the office (RTO) at least three days a week — employers need to devise strategies to not only attract and retain employees in a competitive market but to keep them in … Continued
2024 Trends overlayed on manufacturing floor image
It’s no secret to observers of the industrial market that, following a torrid couple of years that saw vacancy rates plunge to all-time lows and asset pricing soar to all-time highs, there has finally been a return to something closer to normalcy. While the pricing of industrial properties has not yet come down appreciably, vacancy … Continued
Celebrate the Spirit of Giving with mittened hands holding a red heart
“We make a living by what we get, but we make a life by what we give.” – Winston Churchill   At Voit Real Estate Services, our company culture has always prioritized community involvement. Our founder, Bob Voit, was instrumental in creating the West Valley Chapter of the Boys & Girls Club. Our employees continue … Continued
Office building with apartment blueprint and sketch overlay
As the office market continues to struggle locally and nationally, and multifamily vacancy rates in Southern California hover around 4%, converting underperforming office assets to residential would appear to be a logical solution to two problems. While this sounds great in theory, the reality of converting office product to apartments is far more challenging. The … Continued
Wide angle aerial view of Los Angeles real estate
As 2023 enters its final days, what are commercial real estate’s top issues? In early October, The Counselors of Real Estate, an international consortium of commercial property professionals, released their annual report, identifying the industry’s top issues. It’s worth reading for an in-depth look at what the industry will face in the coming months and … Continued