Real estate.Los angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. county's real estate market is beginning to show some signs of new life, following one of the industry's worst downturns in history. Leading the way is the county's industrial market, being driven by a rebounding local economy that's driving up manufacturer demand for production and warehouse space. The office market is following close behind, with rents creeping up in the Westside and Burbank/Glendale markets to the point where a burst of new development has already started to occur - the first such major development since 1991. The comeback in the business sector may be finally breathing some new life into L.A.'s moribund moribund /mor·i·bund/ (mor´i-bund) in a dying state. mor·i·bund n. At the point of death; dying. mor residential real estate market, as home prices show signs of bottoming out and even rising in certain markets. L.A. County's industrial market started showing signs of recovery as early as 1995. That segment reached a major milestone in 1996, when vacancy rates for all major L.A. County submarkets dropped to the single digits for the first time in the 1990s. L.A.'s strongest industrial markets are in the San Fernando Valley San Fernando Valley Valley, southern California, U.S. Northwest of central Los Angeles, the valley is bounded by the San Gabriel, Santa Susana, and Santa Monica mountains and the Simi Hills. and the South Bay, where spots of speculative development - development of new space without any prelease tenants - have been springing up in areas with the lowest vacancies. Meanwhile, office vacancies reached the single digits in Santa Monica Santa Monica (săn`tə mŏn`ĭkə), city (1990 pop. 86,905), Los Angeles co., S Calif., on Santa Monica Bay; inc. 1886. Tourism and retailing are important, and the city has motion-picture, biotechnology, and software industries. , Burbank and Glendale in 1996, and rents have been moving slowly but steadily upward in those areas since then. The rising rents and prospects of future rental growth have spurred a number of planned new developments expected to break ground this year, including four new sites in Burbank and Glendale that could add more than 1.8 million square feet of new office space to the market. Home prices have been slow to follow the gains in the office and industrial sectors, though 1996 numbers pointed to the beginnings of a turnaround, and those numbers have picked up some steam in 1997. The strongest sector of the home market so far has been in upper-class communities. In the first quarter of 1997, home prices rose 16.2 percent in Pacific Palisades Palisades, cliffs along the west bank of the Hudson River, NE N.J. and SE N.Y., extending from N of Jersey City, N.J., to the vicinity of Piermont, N.Y., with a general altitude of from 350 ft to 550 ft (107–168 m). , 8.8 percent in Bel Air Bel Air may refer to: Places in the United States:
San Marino (săn mərē`nō), residential city (1990 pop. 12,959), Los Angeles co., S Calif.; inc. 1913. Of interest is the Huntington Library, Art Collections, and Botanical Gardens. compared to the like period for 1996. Areas of the San Fernando Valley hit hard by the Northridge Earthquake The Northridge earthquake occurred on January 17, 1994 at 4:31 AM Pacific Standard Time in the city of Los Angeles, California. The earthquake had a "strong" moment magnitude of 6. , however, continued to show a decline. Prices also continued dropping in Dropping in is a skateboarding trick with which a skateboarder can start skating a half-pipe by dropping into it from the coping instead of starting from the bottom and pumping gradually for more speed. the Antelope Valley This article is about the Los Angeles County region. For the census-designated place in Wyoming, see Antelope Valley-Crestview, Wyoming. The Antelope Valley , where one of the strongest selling points selling point n. An aspect of a product or service that is stressed in advertising or marketing. Noun 1. selling point - a characteristic of something that is up for sale that makes it attractive to potential customers - the availability of low-cost housing - was undercut undercut, n 1. the portion of a tooth that lies between its height of contour and the gingivae, only if that portion is of less circumference than the height of contour. 2. dramatically by the sharp decline in the prices of homes closer to the county's urban center.
Select L.A.-Area Office Submarkets
Total Vacant Vacancy
Submarket inventory space rate
(square feet) (square feet)
Downtown L.A. 32,382,070 6,010,979 18.6%
Pasadena 5,818,334 607,388 10.4
Glendale 5,106,335 355,276 7.0
San Gabriel Valley 12,267,279 2,617,723 21.3
Central L.A. Total 62,835,820 11,539,757 18.4
Beverly Hills 5,085,862 574,414 11.3
Century City 8,798,835 929,587 10.6
Miracle/Park Mile 5,072,363 1,178,593 23.2
Santa Monica 6,497,920 773,947 11.9
West L.A. 5,136,708 872,119 17.0
Westside Total 43,334,497 6,195,153 14.3
East S.F. Valley 5,856,127 350,553 6.0
Central S.F. Valley 7,240,449 998,814 13.8
West S.F. Valley 7,093,629 1,077,888 15.2
S.F. Valley Total 23,358,563 2,798,215 12.0
LAX/Century Blvd. 4,059,752 1,305,336 32.2
El Segndo./Mnhtn. Bch. 9,435,824 1,719,710 18.2
Suburban Long Beach 4,291,900 584,048 13.6
Downtown Long Beach 3,947,499 949,912 24.1
South Bay Total 29,966,425 6,275,932 20.9
L.A. County Total 159,4955,305 26,809,057 16.8
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