Allen Matkins/UCLA Anderson – California Commercial Real Estate Survey


As providedthe introduction to this survey, by John M. Tipton Partner, Real Estate Department Allen Matkins:

Allen Matkins and UCLA Anderson Forecast have partnered to create a Commercial Real Estate Survey and Index to better predict future California commercial rental and vacancy rates. This tool surveys supply-side participants – commercial developers and financiers of commercial development – for insights into their markets. The Survey and the resulting Index provide a measure of the commercial real estate supply-side participants’ view of current and future conditions. Since participants make investment actions based upon these views, it provides a leading indicator of changing supply conditions.

Allen Matkins sponsored this Survey to provide value to the industry. Partnered with UCLA Anderson Forecast, the leading independent economic forecast of both the U.S. and California economies for over 65 years, they have tapped the knowledge of the leading developers and financiers of real estate development in California to provide the best, clear-sighted forecast of the California commercial real estate industry. Read they Survey and Index here.

LA Unified School District Awards Terra-Petra Certification of Small Business Enterprise (SBE)

The Los Angeles Unified School District (LAUSD) issued Terra-Petra an SBE certificate effective October 26, 2016.

The company's SBE status lausdcertificationofsbeis recognized for NAICS codes:

541620 & 541330 through October 2018.

To maintain a valid SBE Certificate after three years with LAUSD, Terra-Petra must also renew its self-certification with LAUSD or register with the Small Business Administration before the SBE certification expiration date referenced expires.

Letter of approval.

Terra-Petra Assists on Final Phase of Dana Strand Development in Wilmington

Terra-Petra has recently completed its role on Phase 4 of the Dana Strand project in Wilmington, California. Our team of environmental engineering professionals has been involved with this project since its inception, having worked on Phases 1, 2 and 3.

Earlier this week, nonprofit developers Abode Communities and Mercy Housing California convened in Wilmington to celebrate the groundbreaking of Vista del Mar and Camino del Mar, a new collection of 176 affordable homes.

In addition to housing, the $71 million development will offer 35,000 square feet of open and recreational space, as well as features uch as a computer lab, bicycle parking and on-site social services.  The property also is located in close proximity to the Wilmington Waterfront Park.

The projects are considered the fourth and final phase of the Dana Strand Village redevelopment, which has repurposed a 20-acre post-war military housing site.  A full buildout of the New Dana Strand, the culmination of a process that began in 2000, will provide housing for approximately 750 people.

Vista del Mar and Camino del Mar were through both public and private sources, including U.S. Bank, low income housing tax credits and tax exempt bonds from the City of Los Angeles.

Completion is expected in 2018.

Waterproofing Inspections on the Hollywood Argyle Hotel by Terra-Petra

Terra-Petra Waterproofing Division is performing the waterproofing inspections for the Hollywood Argyle Hotel project. Here's an update via UrbanizeLA.com – by STEVEN SHARP:

After nearly one year of construction, exterior work is in full swing for Hollywood's Argyle Hotel.

Located at 1800 N. Argyle Avenue, the project consists of a 16-story hotel featuring 220 guest rooms, restaurant space, and ancillary features such as meeting rooms, a swimming pool and a parking garage.  1800 Argyle Avenue Archive (Urbanize LA)

hollywoodkimptonhotel

Mixed-use project, called Metropolis, is unprecedented for Downtown L.A.

If you travel down through the Downtown LA area on a regular basis, you have probably noticed the every-changing skyline. As an environmental engineering firm, Terra-Petra is taking part with many of these new projects. One of which is called the Metropolis (you can't miss this large mixed-use community steadily growing along the 110 freeway). The Terra-Petra Waterproofing Division is consulting on the building envelope waterproofing system for the Metropolis project and inspecting all of the waterproofing as it gets installed. 

Read more about Metropolis and other projects currently being led by Chinese developers in Downtown Los Angeles.

Screenshot 2016-08-31 at 10.19.27 PM

Terra-Petra’s Abode Communities and Mercy Housing Project to Break Ground in Wilmington, CA

Terra-Petra has been honored to be a part of this incredible development in Wilmington, California. Abode Communities and Mercy Housing will celebrate their Vista del Mar and Camino del Mar Groundbreaking on September 14, 2016.

Terra-Petra Adobe Communities project, Wilmington CA 2016

Terra-Petra performs subterranean waterproofing inspections for new Academy Museum project

Terra-Petra heads environmental engineering and waterproofing design, inspection and systems for the new $300-Million Academy Museum project at Wilshire and Fairfax Avenue which is slated to complete in 2018. 

STEVEN SHARP
June 14, 2016 for Urbanize.LA.

Even June Gloom failed to put a damper on construction at the LACMA campus on the Miracle Mile, where the Academy of Motion Picture Arts and Sciences' (AMPAS) long-awaited museum is well underway.

The $300-million undertaking, located at Wilshire Boulevard and Fairfax Avenue, will create a showcase for AMPAS' vast collection of filmmaking artifacts, including tens of thousands of still photographs, screenplays, production and costume design drawings, manuscripts and storyboards.  These assets will be displayed through a series of galleries, exhibition spaces, educational spaces and on-site theaters.

The museum, designed by the famed Italian architect Renzo Piano, will restore the May Company Wilshire department store, a Streamline Moderne structure built  in 1938.  North of the historic building, the project will add an eye-catching spherical glass structure, replacing a surface parking lot and a 1946 annex to the department store.

Completion of the Academy Museum is expected in Spring 2018.

Terra-Petra designs subterranean waterproofing on DTLA Oceanwide Plaza

Working closely with Oceanwide Plaza, LLC Vice President Peter Lai (featured in the video below), Terra-Petra designed the subterranean waterproofing  (which Terra-Petra is also still currently inspecting).on the walls of Oceanwide Plaza project site – easily seen via the aerial camera shots in the video. Lendlease, an international property and infrastructure company, recently announced the completion of the initial mat foundation pour for the Oceanwide Plaza development in Downtown Los Angeles to allow for vertical construction of the project to begin. Read the article here

Read the full article here.

Terra-Petra Environmental Engineering Helps Developer with Pico Gateway Apartments Project Success

Terra-Petra designed the environmental engineering designs and waterproofing systems for this multifamily property in the Pico-Robertson neighborhood just sold for $22.4M a few years back. As always, Terra-Petra is quite proud to be a part of the revision and revamping of land that was up until today, unusable. The revitalization of the LA Basin continues with environmental engineering being a key component of developers' success stories. So now, in what is becoming to be known as an increasingly popular Westside area, this building is being described as a “very high-quality property in a great location." 

This Week's LA Deal Sheet

The fully occupied Pico Gateway Apartments location offers 48,275 SF of rentable space, including 7,500 SF of ground-floor retail, 39 apartments and more than 135 underground parking spaces. Just two blocks from Beverly Hills, which is also a draw, apartment amenities include double sinks for preparing kosher meals, maple hardwood floors, double-paned windows to block out street noise and appliances. 

There is also an optional Shabbat elevator for residents to use on the Jewish Sabbath. Projected growth in the area is making the neighborhood increasingly popular. A recent study shows the population on the Westside could grow by 3.4% over the next five years. 


Read the full story about this properties sale at: Bisnow.com

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