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Commercial Real Estate

Westlake Village

Telephone
805.497.4557
FAX
805.496.3589
E-Mail Address
Lloyd@Westcord.com

Address
951 Westlake Blvd
Suite 101
Westlake Village, CA 91361

Commercial Real Estate Westlake Village is represented by Westcord Commercial Real Estate Services and Lloyd Wertheimer, serving the Commercial Real Estate Industry for over six years. Commercial Real Commercial Real Estate Westlake Village specializes in the lease and sale of office space and industrial properties in Westlake Village, Thousand Oaks, Agoura Hills, Newbury Park, Camarillo and Conejo Valley.

Specializing in office space and industrial properties, Lloyd has concluded the leasing and sale of properties from the North San Fernando Valley to Ventura County. His experience in business and sales has made him an effective communicator. Lloyd subscribes to a “win-win” philosophy, and satisfied clients on both sides of the transaction are the result.

He is an office space specialist who is skilled at stabilizing high-vacancy properties. His aggressive marketing, first-hand knowledge of available office space, and up-to-date knowledge of the commercial market give Lloyd’s clients an edge over their competitors.

Whether he is representing Owners or Tenants, Lloyd is committed to the highest level of professionalism and work ethic in every transaction and service. Call Lloyd at 805.497.4557 Ext 251, for your Commercial Real Estate Westlake Village inquiries.


 

 

 

         TOBA Web Site    Owner Representation    Agent's Project History    Tenant Representation


     

 

 

 

 

 

 

Quote of the Day....

I firmly believe that any man's finest hour, the greatest fulfillment of all that he holds dear, is that moment when he has worked his heart out in a good cause and lies exhausted on the field of battle - victorious.
Vince Lombardi

 

 
 

The Exchange Update 

June 2009

A Newsletter For 1031 Tax-Deferred Exchanges

 

 

 

 

Wanting to Exchange but don't know all the opportunities available? Check out what Tenant In Common (TIC) offer.

Commercial Real Estate Westlake Village

Office Space, Retail & Industrial Space Vacancy Information; From 5/1/2009 to 6/8/2009

Office Space

Vacancy

Chg +/-

Rates (FSG)

Average

Chg +/-

Conejo Valley

15%

-1%

$1.00 to $4.19

$2.39

+$.02

Camarillo

20%

-1%

$1.20 to $3.45

$1.90

N/C

Newbury Park

19%

N/C

$1.85 to $3.11

$2.93

+.04

Thousand Oaks

12%

N/C

$1.00 to $4.18

$2.07

+$.02

Westlake Village

14%

-1%

$1.75 to $4.19

$2.47

+$.02

Agoura Hills

21%

N/C

$1.40 to $3.95

$2.33

-$.03

Simi/Moorpark

21%

N/C

$1.37 to $3.84

$2.25

+$.10

Retail Space

Vacancy

Chg +/-

Rates (NNN)

Average

Chg +/-

Conejo Valley

4%

-1%

$1.00 to $5.25

$2.23 -$.02

Camarillo

5% N/C

$1.25 to $3.50

$1.81

N/C

Newbury Park

8%

N/C

$1.00 to $4.00

$1.96

N/C

Thousand Oaks

3%

-2%

$1.29 to $3.50

$2.14

+$.03

Westlake Village

3%

N/C

$2.41 to $5.25

$3.14

-$.14

Agoura Hills

4%

N/C

$1.75 to $3.01

$2.33

-$.02

Simi/Moorpark

5%

N/C

$1.00 to $6.51

$2.10

-$.04

Industrial Space

Vacancy

Chg +/-

Rates (MG)

Average

Chg +/-

Conejo Valley

5%

N/C

$.44 to $1.35

$.79

$-.02

Camarillo

6%

N/C

$.29 to $1.00

$.56

N/C

Newbury Park

4%

N/C

$.44 to $1.25

$.74

-$.03

Thousand Oaks

13%

N/C $.75 to $.88

$.80

+$.01

Westlake Village

1%

-2%

$.79 to $1.35

$.99 N/C

Agoura Hills

0%

-1%

 $1.60

$1.05

-$.55

Simi/Moorpark

10%

+2%

$.38 to $1.22

$.62

N/C

 

Costar Deal Tracker- Week of July 1, 2009

Type Lease/Sale Location Size Status
Industrial Lease Camarillo 11,524 SF Listed
Office Lease Thousand Oaks 39,421 SF Listed
Office Lease Newbury Park 2,520 SF Leased
Office Lease Westlake Village 5,126 SF Leased
Office Lease Thousand Oaks 7,000 SF Leased

 

 

 

 

 

 

*Information obtained from: COSTAR COMMERCIAL MLS.


Commercial Real Estate Westlake Village

Available Interest Rates

Libor

As of 7/2/0909

30 Day

0.31%

Prime: 3.250%

3 Month

0.60%

Federal Funds: 0.25

Treasury Yields - As of 7/2/09  Fixed Rates starts as low as:

5 Year US T's

2.43%

Phoenix First Credit: Loans from 750,000-10 Million. Amortized over 25 years. Click on logo for more information.

7 Year US T's

3.14%

5 Year Fixed 10 Year Fixed 10 Year Adjustable

Current CPI Index

10 Year US T's

3.51%

Industrial, Anchored Retail

 6.350% 6.500% 4.617%

Unanchored Retail, Medical Office

 6.550% 7.000% 4.617%
30 Year US T's 4.32% Apartment  5.800% 6.000% 4.117%
General Office  6.550% 7.000% 4.617%  

Unemployment

Inflation

Interest Rates & more

*Information obtained from: The U. S. Department of the Treasury. Subject to change w/o notice.


 
 

        

Commercial Real Estate Westlake Village

NEWS STAND FOR UP TO THE DATE NEWS!!

 

 


LLOYD'S LEGAL LANE

Think Twice Before Serving A Three-Day Notice to Pay Rent or Quit / Allen Matkins - Legal Alert

Acquiring Restaurants in Turbulent Times / Allen Matkins - Corporate and Securities

Acquiring Manufacturing Businesses in Turbulent Times  / Allen Matkins - Corporate and Securities

 Landlords and Sub-Leasing / Allen Matkins - Jukebox Real Estate


National Commercial Real Estate News

 

     

 News From the U. S. Treasury

               

News From LA Economic Development Corp

 

 

Foreign Investors See Turnaround a Year from Now, but Activity Will Pick Up This Year

REITWeek 2009: Low-Leverage REITs May Lead '90s-Style Real Estate Revival

Retail Indicators Looking Up; But Execs Warn, "Curb Your Enthusiasm"

Small Retailers Seize Opportunities to Expand in Down Real Estate Market

Liquidity, Liquidity, Liquidity

Retail REITs see Light Beginning to Break through the Clouds

In Sign of the Times, Owners Court Clean Tech Tenants

ICSC RECon 2009 Recap: Straight From the Participants

Sour commercial real estate loans threaten to hurt regional banks

LEED Incentives From ... Your Broker?

Simon Opens The Promenade at Camarillo Premium Outlets

Institutional Investors Pay More for Energy-Efficient Buildings, Study Finds


REITs Move Off Bottom, Can Commercial Real Estate Be Far Behind?

By Mark Heschmeyer

Data from the National Association of Real Estate Investment Trusts (NAREIT) clearly show that investors have smiled on REITs so far this year. There were 45 secondary equity offerings in the REIT industry in 2009 through May 31, which raised $14.2 billion. In May alone, 18 secondary equity offerings raised $5.3 billion. By comparison, there were 76 secondary offerings in all of 2008 raising about the same amount. This was greeted as very good news indeed by commercial real...
Click here for full story

Stressed but Not Distressed: CRE Pricing Disconnect Spreads to Mortgage Investments

By Mark Heschmeyer

Increasingly frustrated in their attempts to acquire income-producing property at pricing levels lower than what sellers have been willing to accept, commercial real estate investors have turned their attention to commercial mortgage-related investments. But they're finding sales conditions in that arena are not too different than those for the brick-and-mortar assets. While it looks like there is a consensus that opportunities exist for debt and mortgage investments, and there...  
Click here for full story

Fannie, Freddie Tighten Loan Underwriting
Fannie Mae and Freddie Mac, which last year accounted for nearly 37% of the multifamily loans outstanding in the country, have become more conservative in their underwriting practices. Despite the tightening standards, it's still possible to line up 85% leverage for a stabilized property from either agency. Read Full Story

Poll Results: When will the Market Recover?
Over 1,500 LoopNet members responded to our poll on when the commercial real estate market will recover. Over 40% of the respondents anticipate the market will pick up by 2010, with another 33% optimistic that commercial real estate transactions will pick up velocity later this year. While almost a quarter of respondents thought that the price expectations between buyers and sellers was the main hurdle, 46% cited the lack of available credit as the primary barrier to getting deals done. See Poll & results

Troubled CRE Assets on Banks' Books Double to $34 Billion

The amount of troubled loans on income-producing commercial real estate property is rising rapidly at the nation's bank and thrift institutions. The total is now more than double what it was a year ago with the bulk of the increase occuring in the first quarter of this year. The nation's FDIC-insured banks reported carrying $22.3 billion in nonperforming office, industrial and retail property loans on their books at the end of the first quarter and another $4.3 billion in multifamily...  
Click here for full story

Despite Economy, CRE Portfolios Performing Adequately for Banks

For all of the dread concerning a widespread crash in the commercial real estate markets that has been put into words in the first quarter of 2009, the nation's largest banks seem relatively unruffled coming out of the quarter. That's not to say that real estate asset quality has not deteriorated nor that problem loans have not surfaced, but the prevailing attitude from bank executives in their first quarter analyst conference calls was one of composure regarding their commercial...  Click here for full story

Ossola Debuts 300,000-SF Patriot Project
By Bob Howard of GlobeSt.com
Developer M.W. Ossola & Associates Inc. has debuted its new Patriot Commerce Center, a 300,000-square-foot class A business park that features office, medical and industrial buildings and condominiums...Full Story

Owner-User Sales Close at Two Projects
By Bob Howard of GlobeSt.com
A 40,000-square-foot business park here has opened with 70% of the space pre-sold, and in Calabasas Arden Realty has sold a 36,660-square-foot office building to an owner-user for approximately $7 million, according to brokers involved in the deals...Full Story

What the Bank 'Stress Tests' Tell Us About Commercial Real Estate

If the current economic malaise brings down any of the largest banks in the country, commercial real estate likely WON'T be the culprit. Office, industrial and retail properties specifically are even less likely to bring down the nation's top banks. The 19 largest U.S. banks, which account for 70% of the bank holdings of this country, were the focus of the U.S. Federal Reserve 'stress tests' results released this past week. Under the worst case scenarios envisioned for the...  Click here for full story

Brokerage Industry Hard Hit by Losses

Major U.S. commercial real estate brokerage houses are reporting first quarter net losses across the board, reflecting the ongoing impact of the current recession and dearth of transaction activity. This is believed to be the first time in recent memory that all the major brokerage firms reported a quarterly loss, an occurrence that can't be recalled even during the last major recession following the dotcom bust in 2001. Jones Lang LaSalle reported a net loss of $61 million...  Click here for full story

Investors Draft Proposal to Improve Market
Executives from the biggest owners of investment-grade CMBS have drafted a list of proposals to improve the market, and they want investors in subordinate bonds as well as lenders to help fine-tune their ideas. The CMBS roundtable, an informal task force of executives from about 25 investors that hold a combined $400 billion of CMBS, put together the list and is expected to post it today or Monday. Read Full Story


What are; "Building Classes"?

The primary feature of Class A buildings is the fireproofed structural steel frame, which may be wielded, bolted, or riveted together. The fireproofing may be masonry, poured concrete, plaster, sprayed fiber, or any other type which will give a high fire-resistant rating.

The primary characteristic of Class B buildings is the reinforced concrete frame in which the columns and beams can be either formed or precast concrete. They may be mechanically stressed, and the structure is fire resistant.

Class C buildings are characterized by masonry or reinforced concrete (including tilt-up) construction. The walls may be load-bearing, i.e., supporting roof and upper floor loads, or non-bearing with open concrete, steel, or wood columns, bents, or arches supporting the load.

Class D buildings are characterized by combustible construction. The exterior walls may be made up of closely spaced wood or steel studs as in the case of a typical frame house,with an exterior covering of wood siding, shingles, stucco, brick, stone veneer, or other materials. Otherwise they may consist of an open skeleton wood frame on which some form of curtain wall is applied, including, pre-engineered pole buildings.

Class S buildings are characterized by incombustible construction and prefabricated structural members. The exterior walls may be steel studs or an open steel skeleton frame with exterior single or sandwich wall coverings consisting of prefabricated or sheet siding.

(Source: Marshall Valuation Service)


The Watch List
Mark Heschmeyer, Editor                                         May 31-June 1, 2009

U.S. banks' troubled commercial real estate property assets double to $34 billion in past year.

Banks Troubled CRE Assets Double to $34 Billion
The amount of troubled loans on income producing commercial real estate property is rising rapidly at the nation's bank and thrift institutions. The total is now more than double what it was a year ago with the bulk of the increase coming in the first quarter of this year. The numbers are a blight on what otherwise was a good quarter for the nation's banks.
GM To Emerge as Much Leaner "New GM"
Through the bankruptcy process GM will shed more than $79 billion in debt, eliminate half its brands, reduce labor costs substantially, shrink its dealer network by 40% and close several U.S. assembly plants and sell all but 17 of its owned properties to a U.S. Treasury sponsored buyer that will emerge as the "new GM."

Grubb & Ellis Reports First Quarter Loss
Grubb & Ellis Co. reported revenue of $118.3 million for the first quarter of 2009 and a net loss attributable to the company of $41.5 million.


Private Equity's Lifeblood Running Thin
The real estate private equity business has not been spared in this recession. Debt and equity capital, the lifeblood of a thriving real estate private equity firm, are scarce, very costly and highly coveted.
Retail News Roundup
CoStar reports on expansions or new concepts at 7-Eleven, Walmart, Marco's Pizza and IKEA; and closings, cutbacks, defaults, or bankruptcies at Hill Country Galleria, Filene's Basement and Jones Apparel.

Watch List of Distressed Properties & Loans of Concern
This week's distressed properties and loans of concern are in: Rialto, CA; Grand Haven, MI; Eagan, New Ulm and Oak Park Heights, MN; Columbia, MO; Hillsborough Township, NJ; Albuquerque, NM; Las Vegas, NV; Cincinnati and Clyde, OH; Dallas and Irving, TX; Sandy, UT; and Kenosha and Pewaukee, WI.
Lease Cancellations: Auto Suppliers Cutting Rent Expenses
Plus we have lease cancellations from Chesapeake Corp., Norwood Promotional Products, Tenet Healthcare, and Thornburg Mortgage.

In the Pipeline
In this week’s edition, an unusual pact between labor unions and construction managers is clearing the way to lower costs and kick start projects in New York City; the Dallas Cowboys are fixing to open their $1 billion-plus retractable roof stadium in Arlington, TX; the Goodyear Tire & Rubber Co. has taken a step toward developing a new headquarters in Akron, OH; and more.


Economic Week in Review:

Signs of a slow but steady recovery
June 5, 2009

A reprint from Vanguard®

Several recent reports provided hope that the economy may indeed be in the beginning stages of recuperating. The number of jobs lost in May was far fewer than expected. Demand for durable goods seemed to be on the rise again, and construction spending picked up. Personal income increased significantly in April, while consumer spending declined slightly. The U.S. savings rate reached a 14-year high. For the week ended June 5, the S&P 500 Index rose 2.3% to 940.1 (for a year-to-date total return of about 5.4%). The yield of the 10-year U.S. Treasury note increased 37 basis points to 3.84% (for a year-to-date increase of 1.59 percentage points).

Job losses fall significantly
According to the government's latest employment report, 345,000 jobs were cut during the month of May—the smallest number since Lehman Brothers collapsed last September. This number was significantly lower than the 520,000 expected by analysts. Several industries added jobs during the month, including education, leisure and hospitality, and health services. Fewer cuts in other areas, such as construction and business services, also contributed to the improvement. Despite the slowdown in job cuts, the nation's unemployment rate rose 0.5% for the month, to 9.4%, reaching a 26-year high. Still, the sharp decrease in losses may indicate that the job market is slowly improving.

Saving trend continues
Personal income saw its largest increase in 11 months, jumping 0.5% in April. Despite a rise in income, personal spending fell 0.1% as consumers continued to forego discretionary spending, preferring to hang on to their extra dollars. The savings rate—measured as a percentage of disposable income—rose 5.7% for the month, marking its highest level since February 1995.

Manufacturing outlook brightens
The Institute for Supply Management's (ISM) manufacturing index was up for the fifth consecutive month in May. The index, which measures the activity of our nation's factories, reached 42.8 for the month, 2.7 points higher than April. Although a reading of less than 50 indicates economic contraction, the fact that the index is steadily rising is a good sign.

The ISM's index of nonmanufacturing goods—a measure of the U.S. services industry, including banks, restaurants, and hotels—was also up in May. However, despite an increase in the overall number, drops in both new orders and business activity were less encouraging
.

Construction spending on the rise
Construction spending gained ground for the second consecutive month in April. The 0.8% increase surprised analysts, who had expected a decline of about 1.3%. Spending in the private sector jumped 1.4% for the month, with increases in both residential and nonresidential construction. Public construction spending fell slightly, indicating that state governments are still cutting back. Still, the rise in overall spending is a good sign for the economy.

Increased demand for durable goods
Factory orders in April were up less than expected; however, the 0.7% jump was a big improvement from March's decline of 1.9%. Orders for durable goods—which include big-ticket items that are intended to last at least three years, such as cars and appliances—increased 1.7% for the month, their biggest gain since the start of the recession in December 2007. Nondurable goods orders fell 0.1% for the month.

Productivity higher than expected
Growth in U.S. nonfarm business productivity—which is defined as output per work hour—was revised upward to 1.6% for the first quarter, a significant jump from the Labor Department's original estimate of 0.8%. Output declined less than originally anticipated, which led to the revision. Labor costs, a key indicator of inflationary pressures, were also adjusted, sliding from 3.3% to 3.0%.

Consumer debt falls farther than expected
Consumer credit declined by $15.7 billion in April, more than the $6.0 billion that analysts had expected. Revolving credit led the decline, down 8.6% for the month; however, nonrevolving credit also fell 7.1%. These numbers are a reflection of tightened lending standards and weakened consumer demand.

The economic week ahead
Next week will be somewhat light in terms of economic news. On Wednesday, the Federal Reserve will release its latest Beige Book, which provides a summary of current economic conditions in each of the 12 Federal Reserve regional districts. The latest report on international trade will also be released on Wednesday, while updates on retail sales and business inventories will be provided on Thursday.


       

Commercial Real Estate Westlake Village

Lloyd’s Clients have included, but not limited to:

AT&T      

Westland Civil, Inc.  

Many Mansions   Oxford Learning       
All State Insurance   Red Mastering  
Billy Blanks World Karate   Novantus  
Community West Bank Sotheby’s International  

Contributing to personal civic betterment, Lloyd has been actively involved in the following organizations:

2004 – Present:  Rotary Club International, Lloyd has recently become a member and is volunteering his time for various community outreach programs.    

1978 – Present: Youth Activities. Participated in the organizational management and coaching of Youth Sports and Boy Scouts in various capacities.

2005 – Present: Fulfilling prerequisites as a Qualifying Candidate for the prestigious “Certified Commercial Investment Member” (CCIM) designation of the Realtors National Marketing Institute.

2005 – Present: Member of the Westlake Sunrise Rotary, Facilitator at the Homer Dickerson's Ethics Seminars and Instructor at RYLA's annual camp. (Rotary Youth Leadership Awards)

2009 - Present: AIR Commercial Real Estate Association

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