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
Slow transaction timeline. Businessman, monthly and daily calendar, and watch overlayed on city skyline
For investors looking to deploy capital or an owner-occupier trying to combat industrial rent inflation by purchasing their own building, the Halloween headlines from the Wall Street Journal and Bisnow were frightening. The Money Has Stopped Flowing in Commercial Real Estate warned the WSJ, and Bisnow’s headline blared, Scarcity Of Capital Hammers CRE. The Journal … Continued
man under umbrella in front of city skyline
Catastrophic events have always been a component of the risk equation for property owners and insurers, but since 2017, there has been a dramatic increase in natural disasters of all types, ranging from hurricanes and tornadoes to earthquakes to severe storms to floods and wildfires. According to the NOAA National Centers for Environmental Information (NCEI), … Continued
aerial view of empty Industrial business park
Even with the massive year-over-year (YOY) increase in vacancy rates in the Southern California industrial markets — up from 100 to nearly 300 basis points, depending on the market — tenants still aren’t seeing much rent relief. Average asking lease rates continue to set new all-time highs for the Inland Empire, Greater Los Angeles, Orange … Continued
Tenant Improvement sketch of workspace and lobby transitioning to completion.
As if the slower-than-hoped-for return to the office, the emergence of hybrid work models, and the looming commercial mortgage crisis weren’t enough to contend with, landlords that have been fortunate enough to ink tenants to new deals or renew existing ones have another headwind to battle – persistently high tenant improvement costs. The 2023 Fit-Out … Continued