At Partners Trust, commercial real estate takes several forms. From helping our clients find the dream retail space, to building out the place to let your startup dreams flourish, to purchasing investment properties and opportunities to deliver income for years to come.
Some trends we are seeing in the marketplace include:
The continued adoption of creative office space
Open rooms, exposed ducting, concrete floors, etc., are all the rage. More and more employers are investing in this type of space to show their employees that they are a modern and forward-thinking place to work. Cubicles and closed offices are a thing of the past as employers instead configure large open areas with smaller private spaces that employees can duck into for meetings or phone calls.
The factories of yesterday are now homes to tech start-ups, chic office spaces, hip restaurants and boutiques, private clubs and more. From downtown to the shore and beyond, many of L.A.’s older buildings are being given new life. Finding new ways to use and celebrate the city’s architectural legacy makes Los Angeles a vibrant place to live, work, and play.
Income properties are popular with millennials
As rents continue to rise throughout Los Angeles, income properties represent a fantastic opportunity for real estate investors. In 2015, Partners Trust saw increased interest in smaller multi-family developments. Some millennials are opting for duplex and triplex options instead of single-family homes so that they can take advantage of the market and earn money toward their mortgage. With money easy to get and interest rates still low this can be a smart move for many investors.
For more information on this topic please download the Partners Trust Annual Report or contact your Partners Trust Associate for a free printed copy.