Government sponsored programs are not the primary solution to urban decay such as drug trafficking and crime. Â To restore a city and its neighborhoods, fight crime successfully and everything else will start to fall into place. Â Just ask Los Angeles Police Commissioner Bill Bratton because he understands this concept. Â It appears Mayor Villaraigosa is also taking this notion to heart while making an increase in the police force a top priority. Â L.A.’s troubled neighborhoods will welcome more officers.
The California Employment Development Department (EDD) released January unemployment estimates last week. Seasonally adjusted, the Los Angeles County unemployment rate was 5.7%, up from 5.4% in December, from 5.3% in November, and from 4.7% a year earlier. January was the eighth consecutive month that the County’s unemployment rate increased over the previous year. Last month’s County unemployment rate was the highest since February 2005 (5.7%). Historically speaking, 5.7% is not high and poses no immediate threat to the industrial real estate market.
Standards for commercial real estate loans were tightened by a whopping 80% of responding banks.Â About 46% of banks reported that demand for CRE loans has weakened. Â
Commercial & industrial loan credit standards and lending terms have been tightened by 32% of banks for large-and mid-size business customers and by 30% of banks for small business clients.Â Here also, loan demand has weakened. Â er, the pool of buyers has decreased and thus demand has further decreased.Â
Preferred Freezer Services of Newark, NJ built and opened 8 new cold storage buildings in strategic locations throughout the USA in 2007. Â Starting off this very busy year, Preferred Freezer Services opened the first of these warehouses on January 2nd in Los Angeles CA. Â It is their 16th warehouse nationwide and 5th facility in Los Angeles. Â This new, custom build warehouse will be known as Preferred Freezer Services Long Beach Freeway (LBF), an is located at 4901 Bandini Blvd., Vernon, CA.Nearby locations include: Â Alameda Street and 52nd Street, and the Washington Blvd. freezer. Â Next to the Washington Blvd facility, Los Angeles, they are building another freezer unit adjacent and east to the existing warehouse. Â This latest warehouse should be completed in 2008.
Los Angeles has one of the largest and busiest ports in the United States. Â Development of intermodal facilities, where shipping containers are transferred between rail and trucks, and adjacent logistics parks is a trend that is being seen across the country. Intermodal container shipments increased 37% in the last 5 years. Â The vast majority of goods manufactured in Asia arrive in ports on the west coast. Â This trend is changing the face of the bulk distribution sector. Â Â For more information on theÂ Port of Los Angeles.