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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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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Blockchain Demo

Posted on May 8, 2022July 5, 2022 by Jim Klein

Transcript

Welcome to Gardena, CA!

The center of industrial real estate for Los Angeles.

I’m Jim Klein and today I will show you, how to use the blockchain to send and receive files, decentrally among trusted parties.

Let’s go inside.

Here’s how it works. We input the address of the property on the top line. In this case, it’s 19475 Gramercy Pl, Torrance, CA. It’s a 47,000 ft manufacturing, industrial storage building. Contact ID is where we can put the user’s email or a customer number that we generate. We include the file and we press go.

After pressing go the program creates a QR code and a link that I can send to the customer. Only parties who have the link or code can open the file. It records on the blockchain to serve as proof.

With the link you can either click on it or put it in your browser, and the file is transmitted to the party you want to send.

My first use case is offmarket industrial real estate. Meta tags can be used to search the blockchain by keyword.

I’m asking for your help to expand the project and make more deals together. Thank you to the innovation committee and you watching.

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