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September 28, 2020

The LA Deal Sheet
[Webinar] How Has The Pandemic Affected Office Valuations? Find Out At The Current State & Future Of LA Office: Development, Investment, Leasing & Design Update Oct. 8

Huntington Beach is getting new homeless housing. 

The LA Deal Sheet

The city of Huntington Beach has purchased a 0.78-acre multifamily development site in Huntington Beach for $2.97M, CBRE announced. The land at 17631 Cameron Lane will be used as a homeless navigation center, which will offer services and temporary shelter, The Daily Pilot reported. CBRE’s Dan Blackwell and George Felix…

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California Commercial Eviction Moratorium Extended To March 2021

Gov. Gavin Newsom signed an executive order Wednesday allowing cities and counties across California to pause evictions for coronavirus-affected commercial tenants through March 2021.

Offering stability to commercial tenants is key to stemming the financial impacts of the pandemic and a public health issue, allowing businesses to make decisions based on worker and customer health instead of concerns about making rent, Newsom’s order said. The previous order was set to expire this month.

California Commercial Eviction Moratorium Extended To March 2021

Rebounding from the mandatory closures hasn't been easy for the state's businesses. Closure data from Yelp shows that as of this month, 7,500 businesses in the LA metro area remain temporarily closed, with another 7,500 shuttered for good. San Francisco has approximately 3,300 temporarily closed businesses and at least 2,900 that won't be…

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Airport Retailers, Facing Painful Long-Haul Recovery, Contemplate Changing Business Model

The airport industry is facing a lengthening runway to recovery.

Passenger traffic is averaging between 50% and 75% below normal levels across U.S. airports. That's an improvement from the early days of the coronavirus pandemic, but now that peak summer travel season is over, traffic volumes are expected to drop off even further in the fall and winter months.

That is hitting retailers and restaurateurs in airports hard. The airport concessionaire industry estimates it could lose $3.4B, or more than three years' worth of profits, by the end of 2021.

Forecasts for full recovery extend as far as three to four years out, prompting airport concessionaires to seriously think about whether the entire business model needs to be overhauled.

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Hotter Than Ever, Construction Tech Still Has Plenty Of Flaws, Experts Say
 

Building information modeling, or BIM, and other construction technologies have only grown in importance to developers, architects and contractors amid the coronavirus pandemic.

But the construction industry's adoption of new construction tech isn't without its speed bumps, panelists said during Bisnow's BIM and future of construction and development webinar.

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