Globest Sectors

Downtown Los Angeles has attracted a bevy of major retailers, and with a growing population base, this is likely just the start.

Office rents in the market are up more than 22% from 2013 in San Diego, driven by tenant growth and improved real estate quality.

In this <b>EXCLUSIVE</b>, GlobeSt.com learns more about the challenges and opportunities that Bay Area builders are facing, including the huge push for mixed-use and transit-oriented development.

“The properties on Passaic Avenue were vacant eyesores for many years, and Russo has been transforming them into better ratables that will bring residents, shoppers and businesses to Kearny,” says Mayor Alberto Santos.

The recent regulations released for Opportunity Zone Funds answered a lot of questions, but there are still a handful of unknowns.

CBRE VP David Kleinhandler, who has worked in this sector for more than a decade, does not see this trend swinging the other way in the near future.

Among the stores targeted for shut down include two locations in Manhattan at 2008 Broadway on the Upper West Side and 635-641 6th Ave. in Chelsea. According to the two stores' respective website, both locations have already been permanently closed.

The largest broker-owned firm in the country is growing in select US markets and has plans for expansion in Canada and Mexico.