All in Hannah Market Update
Hannah McCarthy Market Update! - Inglewood is home to one of LA's largest apartment sub-markets and consists of nearly 90% low quality units.
With construction underway for the NFL Stadium and a recent rentcontrol cap of 5% put in place, I was very curious about the state of Inglewood's multifamily market.
We have another market update for Santa Monica Commercial Real Estate - Santa Monica retail stores continue to be strong with low cap rates and average prices/sf above $1,150.
Rent growth is at 1.5% with only 15,000 sf of new retail #construction to be delivered in the next 4 quarters.
Today we have the market update for West Los Angeles, for commercial office buildings.
Fundamentals remain strong as this area continues to gentrify and advance. The vacancy rate remains slightly higher than nearby affluent areas but asking rents have gone up as well showing increased confidence in the area.
Improvements to the vacancy rate and average rent per square foot are largely due to the limited supply in this area. Cap rates, days on the market, and price per square foot remain in line with surrounding