How Strong Is the Commercial Real-Estate Market in Glendale California?
First let’s take a glance at how well the United States is doing in commercial real-estate. As of early May 2017, there is a positive outlook because it is expanding at a slow rate. Many people agree that slow and steady positive growth is better than fast growth followed by a big decline.
Two very positive factors for commercial real-estate nationally – The Gross Domestic Product has a stable increase, and a rise in employment.
The big challenges investors deal with at this time are changes in regulations, big changes in demographics, and new trends – how do we leverage them? Even though these are highly challenging factors, growth is still occurring. Consumers are thus spending more, and there are more highly profitable commercial transactions.
Interestingly, southern California is performing very strongly in commercial real-estate. If you look particularly at Glendale, California, even though there was a decline of 1200 jobs from Nestle leaving California, Glendale is doing well in commercial real-estate. $62,544 is the median earnings per household in Glendale.
The percentage of those not employed is 5.3 percent. And $200 for each square foot is the cost of commercial real-estate in Glendale California. 7.9% is the vacancy of Glendale commercial real estate, except for office with a percentage of 16.6%, a much higher percentage. Also in downtown Glendale there are a number of mixed use construction buildings being built.
If you want to find Glendale apartment complexes that are for sale, click on http://www.loopnet.com/Apartment-Buildings-ForSale/(link is external). If you want another resource for information on Glendale apartment complexes for sale, click on http://www.biggerpockets.com
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