What Silicon Beach Can Mean for Commercial Real Estate
February 25th, 2013 by Tatyana Levin
Commercial real estate is intrinsically connected with industry. Without industry, there would be no offices to lease or buildings to buy. This means that the more industry there is, the more voluptuous the choices for commercial real estate are.
Whether it is an office building, an office, or a multi-family residence, if a city’s industry is booming, investment properties grow in value and worth.
For a long time now Northern California and Southern California have been competing when it came to business. Southern California has the film industry while Northern California is the biggest technology hub in the world.
But now, Southern California is become an independent technology hub. Silicon Beach, as they are calling it, is bringing a whole new type of business to Los Angeles.
What does this mean for commercial real estate in Los Angeles?
As any industry booms, the city that houses it profits. With more start-ups opening and more businesses relocating to Los Angeles, the city needs more commercial and office space which means more developments.
The more buildings available and developments being built in a city where people actually want to live and work means more and more opportunity for investment.
Los Angeles has always been a popular destination, but now it is getting a new breed of creative and scientifically minded professionals, pumping new blood and fresh ideas into the city.
Looks like now Los Angeles has the best of both worlds.
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