7232 Balboa Boulevard • Van Nuys, CA T Session One ...
1
ity, and other resources needed to sustain an increased population that would total in the millions? Perry said infrastructure, sewers, street widening, street lights, transit, all need to be updated and modified. Yet, as the video noted, there are no new sources of water, for example. However, sustainable practices that once were thought to limit development, may well provide the resources to fuel the budding urbanization. For example, downtown currently uses po- table water for 99 percent of its uses. Reusing non-potable water for the 61 percent of uses that do not require drinking water would help ease shortages and allow for added growth. Brad Luster, one of ten speakers at the symposium and president of Major Properties, which has sold millions of square feet down- town, said “this is one of the most exciting times in real estate. “No one should ever sell property in Los Angeles,” he said. “What’s emerging is a new type of market that L.A. has never seen before, a market that I believe will spill over into the San Fernando Valley.” He called the Valley a “diamond in the rough waiting to explode.” e value of commercial property is not in square feet, he said. Instead, it’s the zoned FAR—the Floor Area Ratio, which allows buildings to rise higher. “You have to understand vertical,” Luster said. “Why would anyone in their right mind buy anything with a floor cap.” e coming transformation will wash over all of downtown and even mom and pop storefronts along Ventura Boulevard. Owners of commercial properties with a low FAR, need to focus on rezoning. “e challenge,” he said, “will be to get the very strong homeowner groups on your side.” e symposium was made possible by a grant from the National Association of Realtors. e Southland Regional Association of Realtors is one of the largest local trade associations in the nation with more than 9,000 members serving the San Fernando and Santa Clarita valleys. for development. Even as the City Council weighs creation of a new development agency, “we need to leverage public/private projects, to build with limited resources,” Perry said. “It’s going to have to be a col- lective effort. Where is the best economic development opportunity? Where do they exist? Will you be flexible? And, what can the city contribute.” In an eight-minute video played as part of Perry’s presentation, urbanization and further development of downtown Los Angeles hinges on availability of interconnected demand on resources: water, power, waste disposal, natural gas, and parking. e city cur- rently is at a mere 10 percent of its zoned capacity with a population of 450,000 and about 45,500 residents in 139 million sq. ft. of space. e floor area ratio that limits construction allows for 1.4 billion sq. ft. — equal to 360 Burj Khalifa’s, the world’s tallest man-made build- ing located in Dubai, Arab Emirates. But can the city find the water, generate the electric- Gambling for a Cause Register by Sept. 9 for Chance to Win $500! Everyone who purchases tickets — gen- eral admission or tournament tickets — for the Texas Hold’em & Casino Night by Monday, Sept. 9 will be automatically entered in a special drawing. The prize? A $500 Best Buy gift card. The event is set for Saturday, Sept. 21 Need more incentive, just in case having a fun evening at a charity event isn’t enough? How does a helicopter tour over Hollywood sound, along with a three-course dinner for two, with wine? And, the lucky winners of this first-place prize will also be picked up and dropped off in private, chauffeured style. Still need more incentive? The second place prize win- ners will enjoy a three-hour, four-course cruise out of Marina Del Rey with a bottle of champagne thrown in for good measure. Enjoy amazing views from pri- vate window seating, dancing under the stars, and amazing cuisine. Finally, yet still impressive, the third place winner of the tournament will receive a $100 gift certificate to Gordon Ramsay at The London West Hollywood. It can be used for hotel accommodations, dining at the Boxwood Café, restaurant classes and programs, or poolside cabana rentals. All proceeds from the event go to the SRAR Chari- table Foundation, a 501(c)3 charitable organization. Go to www. SRAR. com or contact Jason Arancibia at 818- 947-2298 or via email at [email protected] to register and for further details. Sign up now! You might win $500! Balance Needed in Downtown L.A. Urbanization By Sharon Barron, President, and David Walker Southland Regional Association of Realtors While still in its infancy, the urbaniza- tion of downtown Los Angeles has triggered an exciting era for investors and commercial real estate that has widespread implications for cities throughout the region and could well spill over the passes to spur develop- ment in the San Fernando Valley. at was one of many conclu- sions offered as more than 100 investors and commercial real estate profes- sionals gathered Tuesday for an investment real estate sympo- sium presented by the Com- mercial and Investment Division of the 9,000-member Southland Regional Association of Realtors. Arnie Garfinkel moderated the symposium. Keynote speaker Jan Perry, a former Los Angeles City Council member and mayoral candidate, talked about her plans to spur job growth and development in her current capacity as the interim general manager of the Economic and Workforce Development Dept. of the City of Los Angeles. “Downtown is important to every single city in the region,” Perry said. “To be suc- cessful, we need the right balance of housing, transit, neighborhood services, and ameni- ties. We believe transformation is possible.” Perry said 80 percent of the funding for her department focuses on workforce devel- opment, a vital effort if the city is to provide the skilled workers of the future. “We’re transforming the capacity of our workforce,” she said. Yet, the department also has $52 million available in the coming year ADVERTISING SUPPLEMENT THE VOICE FOR REAL ESTATE IN THE SAN FERNANDO AND SANTA CLARITA VALLEYS www.SRAR.com | Real Estate Questions? E-mail Sharon Barron, SRAR 2013 President, c/o [email protected] Realtor ® Sharon Barron 2013 SRAR President 4 Classes, Sept. 23, 24 Skill-Based Commercial Investment Ed The Commercial Investment Education Alliance and the Southland Regional Association of Realtors’ Commercial Investment Division present a two-day series of four classes on skill-based commercial investment education. The cost is $199. e classes explore the business and mechanics of valuing commercial real estate, the tech- niques of analyzing investments, and tax aspects of investment real estate. Classes begin at 9 a.m. to noon and from 1 p.m. to 4 p.m. on Monday, Sept. 23, and Tuesday, Sept. 24. Classes will meet in SRAR’s auditorium, located near the corner of Balboa and Sherman Way in Van Nuys. e registration deadline is Monday, Sept. 15. For more information, call Valerie at 818-947-2255 or go online to www.commercialdataexchange.com. HOMEBUYER SEMINAR Southland Regional Association of REALTORS® 7232 Balboa Blvd., Van Nuys, CA 91406 Saturday, September 14, 2013 10:00a.m. – 12:00p.m * The Buying Process * Down Payment Assistance * FHA vs. Conventional Loans * Working with a REALTOR® * Tax & Financial Benefits * Importance of Good Credit & How to Improve Your Score * City Assistance Programs * And Much More! Learn directly from professionals about: To RSVP, call 818-947-2298 or via email at [email protected] FREE Complimentary refreshments will be provided! www.srar.com THIS SEMINAR IS STRICTLY FOR THE GENERAL PUBLIC NO REALTOR MEMBERS ALLOWED UNLESS ACCOMPANYING A CLIENT The Valley is a ‘diamond in the rough waiting to explode.’ Jan Perry, Interim Gen- eral Manager, Economic & Workforce Development Dept., City of L.A. Brad Luster, President, Major Properties
Transcript of 7232 Balboa Boulevard • Van Nuys, CA T Session One ...
ity, and other resources needed to sustain an increased population that would total in the millions? Perry said infrastructure, sewers, street widening, street lights, transit, all need to be updated and modified. Yet, as the video noted, there are no new sources of water,
for example. However, sustainable practices that once were thought to limit development, may well provide the
resources to fuel the budding urbanization. For example, downtown currently uses po-table water for 99 percent of its uses. Reusing non-potable water for the 61 percent of uses that do not require drinking water would
help ease shortages and allow for added growth.
Brad Luster, one of ten speakers at the symposium and president of Major Properties, which has sold millions of square feet down-town, said “this is
one of the most exciting times in real estate. “No one should ever sell property in Los
Angeles,” he said. “What’s emerging is a new type of market that L.A. has never seen before, a market that I believe will spill over into the San Fernando Valley.”
He called the Valley a “diamond in the rough waiting to explode.”
The value of commercial property is not in square feet, he said. Instead, it’s the zoned FAR—the Floor Area Ratio, which allows buildings to rise higher.
“You have to understand vertical,” Luster said. “Why would anyone in their right mind buy anything with a floor cap.”
The coming transformation will wash over all of downtown and even mom and pop storefronts along Ventura Boulevard. Owners of commercial properties with a low FAR, need to focus on rezoning.
“The challenge,” he said, “will be to get the very strong homeowner groups on your side.”
The symposium was made possible by a grant from the National Association of Realtors.The Southland Regional Association of Realtors is one of the largest local trade associations in the nation with more than 9,000 members serving the San Fernando and Santa Clarita valleys.
for development. Even as the City Council weighs creation of a new development agency, “we need to leverage public/private projects, to build with limited resources,” Perry said. “It’s going to have to be a col-lective effort. Where is the best economic
development opportunity? Where do they exist? Will you be flexible? And, what can the city contribute.”
In an eight-minute video played as part of Perry’s presentation, urbanization and further
development of downtown Los Angeles hinges on availability of interconnected demand on resources: water, power, waste disposal, natural gas, and parking.
The city cur-rently is at a mere 10 percent of its zoned capacity with a population of 450,000 and about 45,500 residents in 139 million sq. ft. of space. The floor
area ratio that limits construction allows for 1.4 billion sq. ft. — equal to 360 Burj Khalifa’s, the world’s tallest man-made build-ing located in Dubai, Arab Emirates. But can the city find the water, generate the electric-
Gambling for a Cause
Register by Sept. 9 for Chance to Win $500!Everyone who purchases tickets — gen-eral admission or tournament tickets — for the Texas Hold’em & Casino Night by Monday, Sept. 9 will be automatically entered in a special drawing. The prize? A $500 Best Buy gift card. The event is set for Saturday, Sept. 21Need more incentive, just in case having a fun evening at a charity event isn’t enough?
How does a helicopter tour over Hollywood sound, along with a three-course dinner for two, with wine? And, the lucky winners of this first-place prize will also be picked up and dropped off in private, chauffeured style. Still need more incentive? The second place prize win-ners will enjoy a three-hour, four-course cruise out of Marina Del Rey with a bottle of champagne thrown in for good measure. Enjoy amazing views from pri-
vate window seating, dancing under the stars, and amazing cuisine. Finally, yet still impressive, the third place winner of the tournament will receive a $100 gift certificate to Gordon Ramsay at The London West Hollywood. It can be used for hotel accommodations, dining at the Boxwood Café, restaurant classes and programs, or poolside cabana
rentals. All proceeds from the event go to the SRAR Chari-table Foundation, a 501(c)3 charitable organization. Go
to www.SRAR.com or contact
Jason Arancibia at 818-947-2298 or via email at [email protected] to register and for further details.
Sign up now! You might win $500!
Balance Needed in Downtown L.A. UrbanizationBy Sharon Barron, President, and David Walker
Southland Regional Association of RealtorsWhile still in its infancy, the urbaniza-tion of downtown Los Angeles has triggered an exciting era for investors and commercial real estate that has widespread implications for cities throughout the region and could well spill over the passes to spur develop-ment in the San Fernando Valley.
That was one of many conclu-sions offered as more than 100 investors and commercial real estate profes-sionals gathered Tuesday for an investment real estate sympo-sium presented by the Com-mercial and
Investment Division of the 9,000-member Southland Regional Association of Realtors. Arnie Garfinkel moderated the symposium.
Keynote speaker Jan Perry, a former Los Angeles City Council member and mayoral candidate, talked about her plans to spur job growth and development in her current capacity as the interim general manager of the Economic and Workforce Development Dept. of the City of Los Angeles.
“Downtown is important to every single city in the region,” Perry said. “To be suc-cessful, we need the right balance of housing, transit, neighborhood services, and ameni-ties. We believe transformation is possible.”
Perry said 80 percent of the funding for her department focuses on workforce devel-opment, a vital effort if the city is to provide the skilled workers of the future.
“We’re transforming the capacity of our workforce,” she said. Yet, the department also has $52 million available in the coming year
ADVERTISING SUPPLEMENT
The Voice FoR ReAL esTATe iN The sAN FeRNANDo AND sANTA cLARiTA VALLeyswww.sRAR.com | Real Estate Questions? E-mail Sharon Barron, SRAR 2013 President, c/o [email protected]
Realtor® sharon Barron2013 SRAR President
4 Classes, Sept. 23, 24skill-Based commercial investment edThe Commercial Investment Education Alliance and the Southland Regional Association of Realtors’ Commercial Investment Division present a two-day series of four classes on skill-based commercial investment education. The cost is $199.The classes explore the business and mechanics of valuing commercial real estate, the tech-niques of analyzing investments, and tax aspects of investment real estate. Classes begin at 9 a.m. to noon and from 1 p.m. to 4 p.m. on Monday, Sept. 23, and Tuesday, Sept. 24. Classes will meet in SRAR’s auditorium, located near the corner of Balboa and Sherman Way in Van Nuys. The registration deadline is Monday, Sept. 15. For more information, call Valerie at 818-947-2255 or go online to www.commercialdataexchange.com.
HOMEBUYERS E M I N A R
Southland Regional Association of REALTORS®7232 Balboa Blvd., Van Nuys, CA 91406
Saturday, September 14, 201310:00a.m. – 12:00p.m
* The Buying Process* Down Payment Assistance* FHA vs. Conventional Loans* Working with a REALTOR®* Tax & Financial Benefits* Importance of Good Credit & How to Improve Your Score* City Assistance Programs* And Much More!
Learn directly from professionals about:
To RSVP, call 818-947-2298or via email at [email protected]
FREE
Complimentary
refreshments
will be provided!
www.srar.com
THIS SEMINAR IS STRICTLY FOR THE GENERAL PUBLICNO REALTOR MEMBERS ALLOWED UNLESS ACCOMPANYING A CLIENT
www.srar.com Realtor® Report August/September 2013 3
GAMBLING FOR A CAUSE
What does a helicopter tour over Hollywood have to do with our
Tournament and you and a guest will get an aerial tour of Hollywood
and the beaches in a 45 minute helicopter ride. But that’s not all! You
will also enjoy a three-course dinner for two, with wine, immediately
following the helicopter tour! And don’t worry about transportation
between the airport and the restaurant. You and your guest will have
private, chauffeured transportation.
TEXAS HOLD’EM CASINO NIGHT 9/21/13
will enjoy a three-hour, four-course dinner cruise out of Marina Del Rey with a bottle of champagne. Enjoy amazing views from the private window seating, dancing under the stars, and amazing food.
• Hotel accommodations at the chic, luxurious London Hotel in
West Hollywod
• Dining within the Michelin-starred Gordon Ramsay restaurant
or Boxwood Café
• Restaurant classes and programs, such as the Chef’s Masterclass
series or day-in-the-kitchen Hosted Dinners, or
• Poolside cabana rentals
But the Casino Night is not limited to Texas Hold’em only. For $35, guests will enjoy Roulette, Craps, and Black Jack, along with an
players will be admitted to the other games at no additional charge).
will be drawn for all the amazing prizes.All proceeds from the event will go to the SRAR Charitable Foundation, a 501(c)3 charitable organization. This, of course, means that
you can write off your expenses for the night as a charitable contribution.
The Texas Hold’em Casino Night is Saturday, September 21, 2013 from 6:00PM to 10:00PM in the SRAR Auditorium in Van Nuys.
www.srar.com Realtor® Report August/September 2013 3
GAMBLING FOR A CAUSE
What does a helicopter tour over Hollywood have to do with our
Tournament and you and a guest will get an aerial tour of Hollywood
and the beaches in a 45 minute helicopter ride. But that’s not all! You
will also enjoy a three-course dinner for two, with wine, immediately
following the helicopter tour! And don’t worry about transportation
between the airport and the restaurant. You and your guest will have
private, chauffeured transportation.
TEXAS HOLD’EM CASINO NIGHT 9/21/13
will enjoy a three-hour, four-course dinner cruise out of Marina Del Rey with a bottle of champagne. Enjoy amazing views from the private window seating, dancing under the stars, and amazing food.
• Hotel accommodations at the chic, luxurious London Hotel in
West Hollywod
• Dining within the Michelin-starred Gordon Ramsay restaurant
or Boxwood Café
• Restaurant classes and programs, such as the Chef’s Masterclass
series or day-in-the-kitchen Hosted Dinners, or
• Poolside cabana rentals
But the Casino Night is not limited to Texas Hold’em only. For $35, guests will enjoy Roulette, Craps, and Black Jack, along with an
players will be admitted to the other games at no additional charge).
will be drawn for all the amazing prizes.All proceeds from the event will go to the SRAR Charitable Foundation, a 501(c)3 charitable organization. This, of course, means that
you can write off your expenses for the night as a charitable contribution.
The Texas Hold’em Casino Night is Saturday, September 21, 2013 from 6:00PM to 10:00PM in the SRAR Auditorium in Van Nuys.
www.srar.com Realtor® Report August/September 2013 3
GAMBLING FOR A CAUSE
What does a helicopter tour over Hollywood have to do with our
Tournament and you and a guest will get an aerial tour of Hollywood
and the beaches in a 45 minute helicopter ride. But that’s not all! You
will also enjoy a three-course dinner for two, with wine, immediately
following the helicopter tour! And don’t worry about transportation
between the airport and the restaurant. You and your guest will have
private, chauffeured transportation.
TEXAS HOLD’EM CASINO NIGHT 9/21/13
will enjoy a three-hour, four-course dinner cruise out of Marina Del Rey with a bottle of champagne. Enjoy amazing views from the private window seating, dancing under the stars, and amazing food.
• Hotel accommodations at the chic, luxurious London Hotel in
West Hollywod
• Dining within the Michelin-starred Gordon Ramsay restaurant
or Boxwood Café
• Restaurant classes and programs, such as the Chef’s Masterclass
series or day-in-the-kitchen Hosted Dinners, or
• Poolside cabana rentals
But the Casino Night is not limited to Texas Hold’em only. For $35, guests will enjoy Roulette, Craps, and Black Jack, along with an
players will be admitted to the other games at no additional charge).
will be drawn for all the amazing prizes.All proceeds from the event will go to the SRAR Charitable Foundation, a 501(c)3 charitable organization. This, of course, means that
you can write off your expenses for the night as a charitable contribution.
The Texas Hold’em Casino Night is Saturday, September 21, 2013 from 6:00PM to 10:00PM in the SRAR Auditorium in Van Nuys.
The Valley is a ‘diamond in the rough waiting to explode.’
Jan Perry, Interim Gen-eral Manager, Economic & Workforce Development Dept., City of L.A.
Dino ChampagneAsset Prevention Services
1031 Exchanges
David FlamerCPA
Accounting/Tax Issues
*Scheduled to speak (subject to change)
Session One - Identify the Property9:30 am - 10:15 am
Jim WallsWalls Property Management
Property Management
Alan GechtCorporate Realty Assoc.
Leasing
Session Three - Manage the Property11:30 am - 12:15 pm
Eric DeanThe Wolf Firm
Legal
Session Two- Purchase the Property10:45 am - 11:30 am
Keynote SpeakerJan Perry
Economic Development Dept.
12:15 pm - NETWORKING
TUEsday, aUgUsT 27, 2013sRaR aUdITORIUM
SCHEDULE OF EVENTS:8:00 am–9:00 am – Registration, Breakfast , NetwoRkiNg9:00 am–9:45 am – keynote Address - Jan Perry
Brad LusterMajor Properties
Commercial Brokerage
INVEsTMENT REaL EsTaTEsyMPOsIUM
Presents
7232 Balboa Boulevard • Van Nuys, CA
REGISTRATIONNo Charge if Registered by August 16, 2013 (seating is limited)
$20.00 fee if registered after August 16, 2013 Mail this form to: 7232 Balboa Blvd., Van Nuys, CA 91406, Fax to: (818) 786-4541
Name:__________________________________ Company Name:________________________________
Email:__________________________________ Phone#:_______________________________________
(Visa/MC/AMEX/Discover) Card#:__________________________________________ Exp:__________
CC Signature Authorization:_______________________________________________________________
www.commercialdataexchange.com • (818) 947-2255 •
Attend Free with Pre-Registration (Limited Seating) Breakfast will be served
Moderated by:Arnie Garfinkel Income Property Lending
James AromWells Fargo Bank
Commercial Lending
Randall BlaesiProperty Sciences
Commercial Appraisal
Eric SalterFidelity NationalTitle
Title
Brad Luster, President, Major Properties
