Archive for October, 2010
The 2010 edition of the Kosmont-Rose Institute Cost of Doing Business Survey was released this week, presenting findings from research by the Rose Institute of State and Local Government at Claremont McKenna College. The annual report, developed by the Rose Institute in collaboration with the Kosmont Companies, provides tax information about costs required to operate a business in 413 selected cities across the United States.
By using a proprietary approach to compare state and local government fees, the Survey provides objective comparative data to businesses that are considering a move or expansion through a review of fees, taxes, and economic incentives and programs that business would encounter in each city. Cities are ranked into one of five “Cost Rating” groups, ranging from Very Low Cost to Very High Cost. Then, the most expensive and least expensive cities are listed both nationally, within California and within Los Angeles County.
The ten most expensive U.S. cities for business in 2010 (in alphabetical order) are: Akron, Ohio; Chicago, Ill.; Columbus, Ga.; Jersey City, N.J.; New York, N.Y.; Newark, N.J.; Philadelphia, Pa.; Phoenix, Ariz.; Portland, Ore.; and San Francisco, Calif. These cities represent some of the highest property and business taxes in the country.
PASADENA, CA – NAI Capital’s Pasadena office has successfully negotiated several transactions for a combined consideration of nearly $6 million.
Carl E. Anderson represented the lessor, 301 N. Lake Avenue, LLC in the lease of a 13,140 square foot law office located at 310 N. Lake Avenue, Suite 1000, in Pasadena to Lagerlof, Senecal, Gosney & Kruse LLP. The 6+ year lease is valued at over $2 million. The lessee was represented by Cushman & Wakefield.
In a separate deal, Scott Martin, SIOR represented James Y. Lin in the purchase of a 16,000 square foot 14 unit apartment building and a 3,000 square foot medical office building situated on 24,250 square feet of land at 222-224 South Santa Anita Avenue in Arcadia from Positive Investments. The transaction was valued at $3,080,000.00. The seller was represented by California Forefront.
John T. Martin and Dan Bacani, also with NAI Capital’s Pasadena office, represented A/M Gateway Associates, LLC In the lease of a 2,981 square foot retail property located at 929 W. Huntington Drive in Monrovia to Ramla USA, Inc. The long-term lease is valued at close to $800,000.00.
For more information regarding these transactions contact NAI Capital’s Pasadena office at 626.654.4800.
NEWPORT BEACH, CA – NAI Capital, a leading Southern California commercial real estate brokerage headquartered in Encino, California announced the expansion of its Newport Beach team with the formation of a new Owner/User Group lead by commercial real estate executive, John Manion, who joins the brokerage as senior vice president effective immediately.
Aimed directly at owner/users of commercial real estate, the new group will assist entrepreneurs and new businesses with the buying, selling and leasing of buildings in which they occupy.
“If you occupy all or some of your own property, the process of navigating though the current real estate cycle can be a difficult one,” Manion said. “The Owner/User Group aims to alleviate the stress of today’s market by providing unique solutions for our clients. During the last real estate cycle (2002-2007) there was an explosion of owner/user construction and purchases. This segment of the market grew 600%. Now because of this tough market condition, what entrepreneurs and businesses do with their buildings becomes more complicated,” Manion explained.
NAI Capital’s Owner/User Group will initially focus on clients in Orange County where the growth of owner/user buildings is most pronounced. Clients of the group will benefit from a full analysis of the costs associated with ownership such as taxes, association dues, financing, depreciation methods, operating costs, and energy efficiencies.
- Numerous NAI Capital brokers feel that leasing activity will come from tenants renegotiating leases to lower rent payments.
- NAI Capital office brokers are witnessing increased demand from law firms and medical offices.
- A majority of NAI Capital retail brokers indicated that demand for retail is likely to come from discount retailers and restaurants.
- NAI Capital apartment brokers expect market conditions to remain static over the next 12-months.