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Planned Hollywood Office Tower Gets Billion-dollar Value Tag

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작성자 Lolita
댓글 0건 조회 8회 작성일 24-07-20 20:38

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Real estate brokerage CBRE reported that 22.7% of Hollywood office space was vacant in the fourth quarter, about the same as Los Angeles County total. A wholesome vacancy fee is closer to 10%, when neither landlords nor tenants sometimes have the higher hand in lease negotiations. However Hollywood has been probably the most energetic office leasing markets just lately, analyst Petra Durnin mentioned; the latest buildings, sporting such amenities as out of doors decks and eating places, are getting the most attention. "These extremely amenitized office buildings command the highest rents in the Hollywood market and account for some of the largest deals signed within the final nine months," mentioned Durnin, head of market analytics at Elevate Commercial Actual Property. She just isn't concerned within the Star challenge. Pent-up demand has increased leasing activity in Hollywood, in "a enormous boon to a neighborhood that was disproportionately affected by the pandemic, downturn in the tech industry and strikes by writers and actors," Durnin mentioned. Miracle mentioned she is betting that the neighborhood will continue to grow as a enterprise center.


She mentioned it could be a place for companies such OrthoIndy and a training site for the Indy Eleven soccer club. The area could additionally characteristic a gathering place that Fairman compared to Georgia Road in Indianapolis, which hosted events this 12 months for the NBA All-Star Recreation and U.S. "That vibrant road surroundings where you could have a celebration and folks would gather and they would have a good time this actually superb event that was taking place of their neighborhood, we will have that additionally in Grand Park," Fairman said.


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