What's Happening in Commerical Real Estate
Culver City
Retail
Downtown Culver City has reached it quota of Restaurants. There remain only a few permits for such a business in the Down Town area. Anyone considering a restaurant should consult with a knowledgeable Agent about possible locations.
Office
The office market is still soft in Culver City and all of Los Angeles. Market rates have dropped and vacancies are high. Office space is leasing for 2.50SF and up. There are some fabulous opportunities with new creative office space available .
Warehouse
Culver City warehouse space is often used as creative office space. Some M-1 property on Jefferson Blvd. has been converted by the owners in to such, in order to meet the demand for Creative Office. The warehouse district on Messmer is preparing for a change when the phase 2 Playa Vista Project completes.
What's New in Playa Vista
Phase 2 has been approved which will consist of new retail developments. One restaurant has already opented (Hangar 19) with more to follow. Expectations are that this will be a vibrant office/retail community.
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