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PRESIDENT’S
PERSPECTIVE
JOHN STERN (President)
Over the next 30 years the U.S. population is estimated to grow 26%,
275 million in 2000 to 347 million in 2030. This means (on
average) that the population would grow more than 2 million a year.
The impact on real estate in housing, office buildings, warehouses,
and other commercial uses will be enormous.
In Los Angeles, we have seen new
technology companies, e-commerce companies, new media companies and
start-ups of various kinds take up millions of square feet of office
space, R & D space, etc. In Santa Monica, the majority of the
new projects have been fully leased prior to completion. The
Arboretum and the Arboretum Gateway are for the most part leased up.
The Water Garden II project has major new leases out for signature.
The rates for these projects are in the $3.20-$3.50 range and
did not meet any resistance due to the booming economies.
Creative spaces with high ceilings
are getting harder and harder to find and are very expensive when
you consider the tenant improvement costs and parking issues. In
West Los Angeles, I believe that the new Kilroy project on Olympic
Boulevard near Bundy will be leased before it is completed.
In Westwood the activity on the Arden
Realty renovation of the Monty’s Building has been very strong.
Rents range from $2.85-$3.50 and tenants are making deals
because they
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cannot find many full floor spaces
with full tenant improvement packages at premium locations in the
Westside.
Contractors are busy, architects
and space planners are happy, brokers are happy, owners What’s
wrong with this picture?
Well, it depends on what you
believe and who you believe. If you are a doom and gloom person
you believe that the stock market will drop to 7000, jobs will be
lost, office vacancies will go to 20-30% and the world is about to
fall in a hole.
If you are a super optimistic
(it-will-never-happen) thinker you believe the stock market will
keep going to 15,000 and that office and industrial space will be
95% leased and new development will
continue at a rapid pace.
Today, we are in what appears to be
a very strong market. Lenders are being very cautious and rates
have moved up a bit. New commercial developments in Pasadena, West
Los Angeles, Santa Monica and other areas are underway.
It does not look as though we are
going to see a lot of additional spec developments at this time.
For the moment (this quarter) things look good.
Attend our committee meetings and
general luncheons to keep up with current events and marketplace
conditions.
We will give you a new update next
quarter. If you have thoughts or ideas on the future, please
E-mail us at LAHq4U@aol.com.
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Los Angeles
Headquarters Association
COMMITTEES |
BUSINESS NETWORKING Co-Chairs
Carole Linn (310) 827-4044
Robert Taylor (310) 900-0000
Formed to encourage members and potential members of LAHq to
meet and network in an informal setting, to exchange ideas.
ECONOMIC DEVELOPMENT/
ENVIRONMENTAL
Co-Chairs
Ed Casey (213) 623-2322 Marian Harvey (213) 485-1234
Allen Walz
(213) 892-1500
Promotes business activities and provides a forum for the
discussion of public policy. Through breakfast forums and research
studies, the committee examines issues that affect the business
climate in Southern California, focusing on the high tech arena in
greater Los Angeles. Provides an increased awareness of the
environmental issues and challenges facing businesses and citizens
in Southern California. The committee highlights recycling,
hazardous waste, air quality, water conservation and solid waste
and their environmental impact by hosting speakers at various
forums.
EDUCATION
Co-Chairs
Parker Jones (213) 689-0813
Robert Mosier (818) 549-1850
Supports and assists inner city grade schools through various
programs and personal participation. We believe the future of our
city can only be as bright as the quality of our workforce. The
workforce, in turn, can only be as strong as its education.
Therefore, we are committed to assisting inner city children
during their developing years in achieving their academic
endeavors.
FOCUS NEWSLETTER
Chair
Marilyn Pepper (818) 790-1990
Responsible for the communication of LAHq’s activities to
the membership through the newsletter, The Focus. It serves to
promote upcoming events, recaps past events and guest
presentations and brings committee issues and activities to the
membership’s attention.
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GOVERNMENT RELATIONS
Co-Chairs
Sandy Paris (818) 905-0703
Norman Murdoch (323) 936-3992
Ed Casey
(213) 623-2322
Develops resolutions on matters/issues that
involve the various LAHq committees. Position papers drafted by
these committees should be passed by a majority of the committee
and brought to the Board of Directors for review and passage. The
position must pass with at least 5OWo or more of the Board. The
dissemination of the position paper is through cover letters,
press releases and press conferences. LAHq will take positions on
city ballot measures representing the majority view of the
membership.
MEMBERSHIP
Co-Chairs
Robert Taylor (310) 900-0000
Teresa Powell (213) 614-6016
The primary purpose of the committee is to cultivate active
membership representation from a cross section of firms in the Los
Angeles basin.
PROGRAM
Co-Chairs
Thomas Freiberg, Jr. (213) 892-9228
John Stern (310)
207-1700
Tom Neary (310) 399-1600
Responsible for planning, securing and presenting speakers
covering a wide range of areas of interest for the monthly
luncheon meeting.
SPECIAL EVENTS
Chair
Barbara Trister (213) 626-3187
Responsible for planning the Annual Awards Luncheon and any
other special event as determined by the Board of Directors.
GET INVOLVED
If you are interested in
participating in one or more of these please call the chairs or
Sue Reeves 323/663-5242 |
