Well, we just finished four months of full scale corporate remote working and let me say, it wasn’t all that we thought it would be. For background, we have been completing the renovation of the The Trust Building and tried to time our move from our signature project, PacMutual, to our new home at 433 S. Spring Street so that we would have a few weeks of remote work set ups at our other projects in combination with encouraging remote work solutions so that the company could continue operating efficiently without having to execute two major moves.
The Emerald City has rapidly become one of the fastest growing cities in the United States. For the past eight years, it has experienced record tourism, tax contributions and travel-related employment. Seattle is known for exquisite coffee, breathtaking landscape, misty mornings, and some of the largest and most innovative companies. Starbucks, Amazon, Microsoft and Expedia are all headquartered in this region of Puget Sound. These corporate giants attract some of the best talent in the world, drive the booming market, and heavily contribute to the city’s major millennial population. People are flocking to the vibrant city due to the strong demand for the lifestyle it offers - a robust economy, incredibly passionate residents and a work-hard, play-hard atmosphere. Once largely considered a secondary market, the city has risen to become one of the leading real estate markets in the nation.
Over the past decade, Portland has grown wealthier, more educated and has seen a boom in population that has consistently outpaced the national average. It is the second largest city in the Pacific Northwest, after Seattle, and the 26th largest in the country. The West Coast city is experiencing one of the highest population growth rates in the country and record low unemployment. With help from Portland’s beautiful nature, affordability, and rich food and arts scene, U.S. News and World Report named the city the number one place to live in 2018.
As an investor in commercial real estate, Rising Realty Partners focuses its efforts in nine Western US markets. These markets include five in California - San Francisco/Bay Area, Silicon Valley, Los Angeles, Orange County and San Diego. They also include Seattle, Portland, Denver and Salt Lake City. While the fact that California is the 5th largest global economy lends strong support for our California focus, we are often asked why some of our other markets make sense in terms of real estate investment. In the past we have written blog posts about Denver, we also want to focus on the positive investment signs and opportunity we see in Salt Lake City.
By Chris Rising
As dependability on wireless technology continues to grow, so must the reliability of the technological infrastructure. In a world where modern businesses require constant and steadfast connections, innovative and forward thinking landlords and building owners present substantial appeal and value to prospective tenants. In fact, in a world where the internet is almost constantly available at the tip of one’s fingertips, even the once echoed real estate mantra, “location, location, location” no longer holds the weight it once used to. Unless you’re operating a walk-in business that flourishes on spontaneous and emotional impulse purchases, connectivity is arguably as valuable and important as the old real estate mantra...location, location, location.
There are not many cities in America that offer the middle of the country travel start point, over 300 days of sunshine, a vibrant downtown, an extensive city park system and...nearby ski resorts. It may not be a big surprise that we see Denver as an ideal market to invest in. Consistently recognized as one of the fastest growing cities in the United States, the capital of Colorado is the most populous city in the state and the 19th most populous city in the country.
Commercial buildings account for 40% of the world’s CO2 emissions and 73% of electricity consumption in the U.S. alone. As real estate investors and developers, we have to do our part in helping to change this.
By Chris Rising
Over a relatively short period of time, artificial intelligence and complementary technologies once thought of as only possible on “The Jetsons,” have become commonplace in our modern office environment. These major leaps in technological advancement have made our workplaces more efficient, connected, and even environmentally friendly in some cases. However, such advanced systems require clear and fast channels of data transmission to work at optimal levels.
By Kayce Hawk
As part of Rising’s environmental impact strategy and commitment, our DTLA portfolio participated in the Green Janitor Education Program, a statewide program developed by Building Skills Partnership to reduce the carbon footprint of green commercial buildings. The program addresses the operations and maintenance practices of certified green buildings, specifically the energy management and green cleaning practices in commercial buildings, by providing vocational training for janitorial staff.
By Chris Rising
I host a podcast called The Real Market. I started this podcast as a way to bring the real estate conference panels to your headphones - on your time, wherever you wanted. I interview some of the biggest names in the real estate industry - brokers, architects, investors, and developers to learn what they do, how they do it, and what drives their success. We talk about the latest trends across regional markets, capital flows, both national and global, and explore technology's role in shaping all of them.
By Chris Rising
Economic metrics indicate that the economy is “on fire” with the lowest unemployment rate in 50 years. Headlines read: “Trump tax breaks giving companies more profits!”. The data shows the fundamentals of the economy are strong overall. In actuality, our view is more like an old cheeky television ad: things are “good, but not great”.
In recent months, the Los Angeles area has seen a dramatic increase in the number of electric scooters (e-scooters) on the roads, particularly on the Westside in the neighborhoods of Venice and Santa Monica. We should expect to see more e-scooters in other parts of LA now that the Transportation Committee has approved guidelines for dockless electric scooter companies to operate within city limits, especially in DTLA. We also believe cities with thriving urban cores like Glendale, Pasadena, Burbank, and Long Beach will soon see an influx.