All posts by singlemalt

Native Angeleno and Industrial real estate agent since 1994.
Market Trends & Indicators

Street Art – Enhancing Los Angeles Buildings

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Los Angeles has an abundance of street art, especially DTLA and in the DTLA Arts District. I and many downtown dwellers view and define “street art” as artwork in a public space that has a generally pleasing design. Contrast that with typical street-gang graffiti, which was primarily composed of dreadfully designed words and dominated the public realm prior to 2000. Most denizens consider graffiti to be blight. Street art adds value to the public realm as well as property values, especially in areas such as the Arts District. Check out some great examples here: https://www.instagram.com/explore/tags/lastreetart/. A large portion of DTLA street art has been painted on industrial buildings.

Street art is not exclusive to gentrifying areas. See below in the heart of Skid Row with homeless encampments.

Market Trends & Indicators

Los Angeles Leads the Nation in the Creative Economy

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According to the 2017 Otis Report on the Creative Economy of the Los Angeles Region:

  • With 747,600 salaried jobs in the creative industries, California far surpasses New York State, which has 478,100 jobs, followed by Texas at 230,600 jobs.
  • In a postindustrial society, activities based on creativity are an essential feature of a flourishing economy.
  • What unifies this dissimilar set of industries is the fact that they all trade creative assets in the form of intellectual property – the medium through which creativity is transformed into something of economic value. Within these industries, we find the intersection of art, culture, business, and technology.
Market Trends & Indicators, Food Industry

California Tops List of Cold Storage Warehouse States

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As shown above, California leads the nation in industrial cold storage cubic feet, that is warehouses with coolers and freezers. What drives this inventory of frigid distribution space? Metro areas have large populations along with food production facilities and food logistic hubs. California has major port activity along its coast to drive much of the logical demand.