The struggles of office markets in major cities across the country are no secret (just look at the article about DTLA in the links below), but one building in Burbank appears to be living in an alternative universe.
This week, Lee & Associates - LA North/Ventura announced seven leases totaling more than 23,000 square feet of space at 601 S. Glenoaks Boulevard. The property, owned by Jamison Services, has seen its occupancy increase from 64 percent to 85 percent as a result.
“The demand for this type of suburban/low-rise asset has increased. There is a continuing trend of companies seeking to optimize their operations in this submarket to serve their existing local employees,” said Darren Casamassima of Lee & Associates, who represented Jamison along with Scott Romick and David Kaufman.
Here's what we're reading this week:
Metro looks to create its own police force. It won’t be easy "The in-house transit force would save more than $38 million over contracting with the Los Angeles Police Department, the Long Beach Police Department and the Los Angeles County Sheriff’s Department, which policed the trains and buses at a cost of $172.9 million this year, according to a study commissioned by the Los Angeles County Metropolitan Transportation Authority board." (LA Times)
As Yet Another Scandal Rocks LA City Council, How Can We Improve Governance? L.A. Governance Reform Project recommends expanding City Council to 25 seats, adopt independent redistricting, and expand the role of the Ethics Commission (LAist)
Pedestrian Traffic Fatalities by State: 2022 Preliminary Data "GHSA previously issued a report finding that 3,434 pedestrians were killed on U.S. roadways in the first half of 2022, based on preliminary data reported by State Highway Safety Offices. A second report analyzing state-reported data for all of 2022 found that roadways continue to be incredibly deadly for pedestrians. There were 2.37 pedestrian deaths per billion vehicle miles traveled (VMT) in 2022, up yet again and continuing a troubling trend of elevated rates that began in 2020." (GHSA)
Modest Bike Improvements Along Downtown Connector Stations, Though Mostly Missed Opportunities "With the downtown Regional Connector subway stations open, Metro contractors have largely completed finished restoring streets along stations. Many of these streets had been partially closed off for construction for the past decade. The smooth newly repaved restored streets, many widened (more on this below) present opportunities for implementing bike and bus facilities already approved in the city of Los Angeles plans." (Streetsblog LA)
LA Needs To House The Unhoused Fast. Are Plastic Homes An Answer? "In a world where stick-built homes are the convention, houses made of plastic can be a hard sell. The mention of plastic — already ubiquitous in daily life, including in our bodies — may turn off some. But there’s nothing like an emergency to shift views." (LAist)
Affordable Housing (AH) Covenants - 1985 to 2022 Los Angeles. City Controller Kenneth Meijia's office has produced an interactive map showing all of LA's affordability covenants from 1985 through 2022. Check it out. (LA City Controller)
As high-rise offices lose their luster, can this part of downtown L.A. find a way forward? "To many insiders — the urban planners, real estate developers and business owners with interests in it — the area will recover only if its identity grows more textured than a zone of white-collar office space." (LA Times)