CBM’s Retail Shopping Center Management & Leasing Blog

Retail Real Estate News & Trends in Southern California

Shopping Centers Today, December 2011

Prices paid for U.S. commercial real estate properties rose 2.2 percent in October from a year ago, according to CoStar Group, which says this is the first year-on-year increase since the economy turned down in 2008. An ongoing decline in distressed-property sales helped spur these higher prices, the firm says. Distressed-property sales as a percentage of total sales fell from 35.4 percent in March to 25.2 percent in October. Overall deal volume and size continued to trend upward. In October overall volume rose by 29.4 percent year on year, and deal size increased by 23 percent on average

Bill Gates (about as non-Jewish as anybody can be) advertised for a new chairman of Microsoft Europe.

5,000 candidates show up at the job screening. They are assembled in a large room.

Among them is Maurice Cohen, a French Jew, a small, bearded, bespectacled man.

Bill Gates thanks the candidates for coming, but asks all those who are not familiar with the JAVA programming language to leave; 2,000 people rise and leave the room.

Maurice Cohen says to himself, “I do not know this language, but what have I got to lose if I stay?  I’ll give it a try”.

Bill Gates then asks all those who have no experience of managing teams of more than 100 people to leave.  Another 2,000 people go.

Maurice Cohen says to himself, “I have never managed anybody but myself, but what have I got to lose if I stay? What can happen to me?”

Then Bill Gates asks all candidates who do not have outstanding academic qualifications to rise and leave; 500 people remove themselves.

Maurice Cohen says to himself, “I left school at 15, but what have I got to lose if I stay?”  So he stays in the room.

Lastly, Bill Gates asks all of the candidates who do not speak the Serbo-Croat language to rise and leave; 498 people rise and leave the room.  Maurice Cohen says to himself, “I do not speak Serbo-Croat, but what the hell!  I’ll learn it.  Have I got anything to lose?”  He finds himself alone with one other candidate.

Everyone else has gone.  Bill Gates joins them and says:  “Apparently, you are the only two candidates who know JAVA, have managed large teams of employees, have advanced PhD degrees, and who can speak Serbo-Croatian.  I’d like to hear you converse with one another in Serbo-Croation”.

Calmly, Maurice turns to the other candidate and says to him,  “Baruch ata Adonai”.  The other candidate answers, “Elohénu melech ha’olam”.

Chase Bank Location at the intersection of Long Beach Boulevard and 10th Street in Prime Long Beach recently sold for $3,615,000.

Approximately 5,000 SQFT newer construction Chase Bank occupied single-tenant freestanding building, located at 940-46 Long Beach Blvd. in prime Long Beach location.  Rick Rivera of Centers Business Management (CBM) represented both buyer (private investor) and seller (Heritage Equities LLC).

By Christopher Leinberger The New York Times

The last decade’s real estate boom seemed poised to create a new strata of suburbs, essentially adding another ring to the great trunk of the ever expanding metropolitan tree. Barron lands were developed into enormous housing developments, and once empty corners of quiet, semi-rural intersections played host to newly minted retails shopping centers – designed to support those booming subdivisions.

Now, however, those house developments sit empty, and the shopping centers languish in deserted despair.

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York Blvd & Ave 57

5689 York Blvd, Los Angeles, CA 90042

Approx. 1,230 SQFT street retail space available for lease. Property features tremendous visibility on high-traffic York Boulevard, with prominent signage. Ideal location for skin care, nail or hair salon, Pilates, dance studio, tax or insurance services, yoga, or retail outlet. Positioned on the high-traffic signalized intersection of York Boulevard and Avenue 57, across from well patronized Superior Market grocery store. Located adjacent to a dense residential area with strong demographics: 1-Mile AVG HH Income: $56,000, 1-Mile Population: 44,749. Property situated on the boarder of Eagle Rock.

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