SHERMAN OAKS, CA—“I firmly believe that commercial real estateis the best investment vehicle for buildinglifelong wealth. And nowhere else is there such a unique andpowerfully desirable geographic as Southern California.” So saysWarren Berzack, a principal at Lee & Associates-L.A.North/Ventura Inc., who is one of the recognized “Tomorrow'sLeaders” for Southern California, in the June issue of RealEstate Forum.
According to Berzack, “the Southern California market isextremely overheated now, due to both lack of inventory and thetremendous amount of cash that's on the sidelines looking fordeals. These key factors, coupled with low interest rates, havedriven prices to extreme levels over the past 24 months.”
Although volume was tremendous in 2013, Berzack says we will seethis year's volume at 50% to 60% of last year's, given the gapbetween buyers' and sellers' expectations. “I don't anticipate moregrowth in prices at this point, unless rents truly start toincrease.” Overall, he says, rents have reached a plateau inC/D areas, with only very modest growth in A/B areas. “With LACounty at over 10% unemployment, this factor needs to change ifrents and, in effect, prices, are to see an increase.”
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
