Cool can be hard to quantify. It doesn’t reside in statistics or metrics; it’s more of a feeling in the air, a vibe. And yet: every year, the intrepid readers and editors of Time Out attempt to appraise it anyway and produce a list ranking “The 40 coolest neighbourhoods in the world.” Now, commercial real estate is generally an industry that relies on that which can be measured: cap rates, rental rates, absorption rates — it’s a…
Industrial and Multifamily Sectors Face Challenges, Slowdown
After steady increases, demand for industrial and multifamily space appears to be slowing significantly. Lee & Associates’ 2023 Q3 North America Market Report shows US industrial net growth down 68% in comparative third quarters. The multifamily sector also felt a sharp increase in vacancies and the lowest rent growth on record. Jeff Rinkov, CEO of the broker-owned real estate services firm, points to challenging economic times, supply chain recovery and cautious corporate behavior as key factors. Industrial Space Remains Positive, Net Growth…
MonthLee Transactions – October 2023
LEE & ASSOCIATES – PASADENA: MONTHLEE TRANSACTIONS: October 2023 (PASADENA, CA) – Lee & Associates, the largest broker-owned full service commercial real estate firm in North America, offers a partial list of closed sale and lease transactions from the Pasadena, California office. Colleen Carey and Brendon Shoemake (representing M&D Professional LLC, the Seller) closed a Medical Office property at 620 N Lake Ave., in Pasadena for $8,300,000. Mauricio Olaiz, represented the Landlord (Sreedhar R….
Jodi Shoemake joins the Rose Bowl Legacy Foundation as a New Board Member
PASADENA, CA. (July 27, 2023) The Rose Bowl Legacy Foundation, formed in 2010, has announced the addition of new members to its Board of Directors and Advisory Board – Christopher Beltran, Denise Melone, Jodi Shoemake and Jim Plutchak. The Board will continue the mission of the Legacy family of volunteers of the World-Famous Rose Bowl Stadium. As a new inductee of the Rose Bowl Legacy Foundation, Lee & Associates – Pasadena’s founding partner Jodi Shoemake…
Lee & Associates Pasadena Hires Hannah Howard As Associate
September 6, 2023 – Pasadena, CA The Pasadena office of Lee & Associates is proud to welcome onboard a new Associate, Hannah Howard! With previous experience as a Project Manager for a construction firm, Hannah is equipped with the skills necessary to successfully manage expectations and deliver outstanding customer service. She understands the importance of building strong relationships and goes above and beyond to exceed client expectations. “We are excited to welcome Hannah as the…
Lee & Associates – Pasadena Successfully Closes Two Transactions Over List Price
August 11, 2023 (Pasadena, CA) – Lee & Associates – Pasadena’s Jamie Harrison and Chris Manassero, successfully closed the sale of 820 W. Kettleman Ln, Lodi and 18990 Van Buren Blvd., Riverside, representing the Seller in both transactions. The Carl’s Jr. restaurant on 820 W. Kettleman Lane has a long-term lease, which was signed in 1981, located in the city of Lodi. It is situated on a pad to a CVS anchored shopping center, with…
MonthLee Transactions – July 2023
LEE & ASSOCIATES – PASADENA: MONTHLEE TRANSACTIONS: July 2023 (PASADENA, CA) – Lee & Associates, the largest broker-owned full service commercial real estate firm in North America, offers a partial list of closed sale and lease transactions from the Pasadena, California office. Robert Leveen (representing Wise Capital LLC, the Seller) and Greg Kho (representing DMJJ Los Angeles LLC, the Buyer) closed a Multi-Family property at 1715 Westmoreland Blvd., in Los Angeles for $3,265,000. Chris…
Lee & Associates – Pasadena Successfully Leases Out Brunswick Court in Old Pasadena
August 2, 2023 (Pasadena, CA) – Lee & Associates – Pasadena Principals, Jodi Shoemake, Christopher Larimore, and Vincent Molitor, successfully leased the third floor of Brunswick Court in Old Pasadena at 4,335 square feet, including a 750 square foot exclusive rooftop deck. Christopher Larimore and Vincent Molitor represented the tenant. Jodi Shoemake represents the Landlord, Doheny Family Trust. “As an established company in the gaming technology industry, our client was already operating in Pasadena but…
Lee & Associates – Pasadena closes Architecturally Significant Harvard Heights HPOZ for $3,265,000
July 25, 2023 (Pasadena, CA) – Lee & Associates – Pasadena’s Robert Leveen, representing Wise Capital LLC (seller), and Gregory Kho, representing DMJJ Los Angeles LLC (buyer), successfully closed the sale of 1715 Westmoreland Blvd. in Los Angeles. This fully occupied income generating multi-family investment offers lucrative cash flow in a high-demand low vacancy neighborhood. Constructed in 1986, the property is located in the protected Harvard Heights HPOZ, renowned for architecturally significant homes. The prime…