By Kelsi Maree Borland | GlobeSt.com
Property management firms are proving to have an important impact on driving value and the success of an asset. One example of the growing importance of property managers is Catalina Landing. Colony Northstar purchased the struggling 280,00-square-foot office property in August 2015, and hired Rising Realty Partners to develop and execute a strategy to turn the property around.
The CalEdison Building at 601 W. 5th St. in downtown Los Angeles recently signed three new tenants: Digital advertising company TubeScience; furniture dealership Systems Source; and market researcher H&M Innovation Labs, according to a statement by building owner Rising Realty Partners.
For roughly three million people, the ultimate personal and team challenge is a Tough Mudder race. These races are obstacle courses between 10 to 12 miles long and the obstacles play on human fears like fire, water, electricity and heights. According to the Tough Mudder organization, the main principle revolves around teamwork. In talking with our team throughout the last year, I have come to believe that there are a lot of parallels between running a Tough Mudder race and the year we experienced. In the end, we completed the year in a strong position, we worked well together and had some real wins. However, it was not without its fears, its slow pace and its unknowns.
Rising Realty Partners, the property investment platform, is set to expand its West 7 Data Center driven by demand for cloud-based IT services and high-speed content delivery in Southern California.
There are many trends shaping the real estate market. Most of these trends are being driven by the advancement of technology – specifically by the millennial generation's use and interpretation of cloud-based and mobile-focused technology. Everything from communication to transportation is evolving and we're keeping our finger on the pulse and looking where the “puck” will be headed.
Visitors who come at all hours every day to marvel at architect Frank Gehry's gleaming Walt Disney Concert Hall routinely turn their backs on the eyesore across Grand Avenue in downtown Los Angeles.
While it may seem every building lobby has transformed in the way they look, feel, and operate, we have observed that this is simply not the case. Many properties are behind the times in their approach to management, the lobby in particular. Whether it’s poor lighting, unfriendly staff, or an overall stuffy experience, this lack of care in management for the what is often a visitor or potential tenant’s first impression not only leads to a poor user experience, but an overall decrease in property value.
Building lobbies have historically been used solely as an entry from the outside and a means to get to the elevator and go straight up to the floor you need to get to. In recent years, developers began thoughtfully transforming lobbies into spaces that people actually utilize beyond just a passageway.
Millennials are now the largest generation by population in the United States, clocking in at 92 million in 2017. The sheer volume of this generation makes it the largest workforce this country has ever seen. And while there’s power in numbers, millennials are impacting businesses in other ways. Their lifestyle, which prioritizes differently than their parents’ did, is reshaping commercial real estate. At Rising, we’ve been watching these changes for a while now. Here’s how we see millennials changing the CRE landscape.
By Eddie Kim, Jon Regardie and Nicholas Slayton | Downtown News
DTLA - When it comes to transformative projects, it will be hard for Downtown Los Angeles to top 2017. After all, last year saw the opening of the $1.2 billion Wilshire Grand Center, the tallest building west of the Mississippi. Additionally, the community welcomed its largest recreation space in L.A. State Historic Park, several new hotels and approximately a dozen housing developments.
When you think of 3rd Party Property Management, you think collecting rent, coordinating with janitorial and security services, and addressing complaints from your tenants. However, good property management is more than just the sum of its parts... It involves a combination of best practices that will keep your tenants happy with what they're investing in. Here are a few ways to help you identify ways in which your property management team might be failing, and how to improve this tenant-landlord relationship for the benefit of both parties:
By Andrea Alonso | LA Magazine
The Historic Core continues its zealous surge of redevelopment with the current restoration of The Trust Building on Spring Street. Rising Realty Partners has just released its first renderings of the building’s ambitious makeover, the largest restoration project to take place on Spring.