New Gardena Industrial Commentary

Posted on February 23, 2023February 23, 2023 by Jim Klein

The geography of Gardena needs explanation. There is the City of Gardena proper and three times larger than the city boundary, is the Gardena Postal Zone. The larger Gardena area includes parts of Unincorporated Los Angeles County (West Rancho Dominguez), City of Los Angeles Strip, and the northwestern part of Carson. The zip code 90061 is also included in most market studies of Gardena because it squares off the uniform industrial portion of West Rancho on the north side. When someone asks me how the real estate business is in Gardena, it depends where you are located. Each municipality has its own zoning regulations and homeless policies which have a direct relationship to the individual parcel value.
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New Industrial Down Zone for West Rancho

Posted on February 13, 2023February 16, 2023 by Jim Klein

(This article has been updated with relevant links below)

Industrial property owners in the West Rancho Dominguez Planning District of Los Angeles County are facing another downzone in the Metro Area Plan. The M1 (Light Manufacturing) is being replaced by a new, more restrictive category, M.0.5 (Artistic Production and Custom Manufacturing). This zoning limitation will reduce the pool of economically feasible tenants and lower the rents property owners can charge. While most citizens of Los Angeles don’t cry over the landlord’s income, the unintended consequence will be plant relocations and job losses.
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14826 S Avalon Blvd, Gardena, CA

Posted on February 7, 2023September 25, 2024 by Jim Klein

14826 S Avalon Blvd, Gardena, CA 90248 – 2.05 Acres – 89,298 Square Feet

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Three Innovations for 2023

Posted on January 17, 2023January 17, 2023 by Jim Klein

ChatGPT:

I could not start the year without acknowledging the tools that are currently available at Open AI. I’ve recently created a new FAQ page with the use of ChatGPT and Dall-E 2. It must have been under the wire before Google Search created new defenses against text bots. I received one solid lead from a company looking for 30,000 square feet because of the AI-generated explanation of my services.
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Leasing Industrial Property in Los Angeles County Under the New Green Zone Ordinance

Posted on September 8, 2022September 8, 2022 by Jim Klein

Leasing Industrial Property in Los Angeles County Under the New Green Zone Ordinance

Green Zones

Green Zones are an entirely different way to look at zoning. It is an outgrowth of the Environmental Justice Movement that had its local origins addressing diesel exhaust at the Port Complex in San Pedro Bay. Properties are analyzed and graded based on their contribution to health disparities using the Environmental Justice Screening Method (EJSM). The EJSM is a new tool and strategy that is designed to correct unhealthy conditions by establishing new mitigation mechanisms. The County will use the EJSM for ongoing monitoring and annual reporting to the parcel level.

Depending on the EJSM score, Regional Planning offers four (4) different routes to approval. The simplest is Site Plan Review (SPR) and it is approved administratively in what we use to call, “over the counter”. The other three routes are discretionary and require formal application and Public Hearing at different levels of planning authority. Generally, the greater the health impact, the longer the approvals.
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Stricter Underwriting is Here – Industrial Policy is a New Catalyst

Posted on August 4, 2022August 4, 2022 by Jim Klein

For the past several years, and particularly during the COVID-19 Period, conventional underwriting took a back seat to momentum. No one’s pro-forma predicted the incredible rent growth over this period. Low interest rates and shortage of product drove prices higher. Industrial rents doubled in two years. Underwriting was limited to the simple and liberal measurement of Net Rent/Purchase Price = Rate of Return. Any return higher than treasury rates signaled a buy. It was the period of “Search for Yield”.
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Blockchain: Should You Post Your Industrial Property?

Posted on June 12, 2022June 27, 2022 by Jim Klein

Putting a property on the blockchain allows people to transact if they have the link. When we post a property, the blockchain generates a cryptographic key which allows the possessor access to the property. We give that key, in the form of a link or a QR code. There are associated rights with the key that are compared to an NFT or a token, but our purpose for using the blockchain is its ordering system. The key is only sent to Selected Trusted Parties that are registered or known. Nothing is posted online or in the Multiple Listing Services because blockchain is used for privacy.
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ChatGPT:

Leasing Industrial Property in Los Angeles County Under the New Green Zone Ordinance

Green Zones

Observations of Industrial Real Estate Trends

Real Estate Trends – The Good