Richard Berger

Virginia

Contributor at Commercial Property Executive

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Articles

Allied Commercial Converts Roosevelt New Deal Office Into Art Campus

1 day ago | globest.com | Richard Berger

Allied Commercial has converted and restored an 85-year-old post office in Venice, California, into a 23,690-square-foot creative campus for media, events and seminars designed to foster artistic growth. The site at 1601 Main St. is now the headquarters of the Lighthouse Creative Group, which has a versatile event space with dedicated artist studios. The property offers a collaborative workspace for creatives to meet and exchange ideas, as well as production offices and facilities.
Levin Johnston Estimates Q2 CRE Sales Doubling as California Activity Heats Up

2 days ago | globest.com | Richard Berger

Marcus & Millichap’s brokerage group Levin Johnston has closed $82 million in commercial real estate transactions spanning 16 transactions during the first quarter of 2025 and is slated to complete more than $200 million in CRE transactions in the second quarter. That's on escrow figures.
San Diego Medical Office Rents Hit All-Time High as Tariffs Limit Construction

3 days ago | globest.com | Richard Berger

The average asking rent for medical office buildings in San Diego has reached a record high, according to a JLL report, reflecting Q1 2025. Prices climbed by $0.12 per square foot (sf) over the past 12 months to an average rate of $4.28 per square foot (FSG) across all submarkets. That came even as San Diego’s vacancy rate for medical office buildings increased from 5.7% to 6.0% during the past 12 months.
Public-Private Partnerships Gain Momentum as California Bets on Urban Revitalization

4 days ago | globest.com | Richard Berger

In this high-interest rate environment, public-private partnerships as investment vehicles have become a powerful tool for unlocking opportunities, particularly in infrastructure and urban development. In California, Jordan Lang, President, McCourt Partners, is seeing momentum build around these models. Take San Francisco’s recent announcement of a new professional Major League Soccer team and a privately funded stadium as a timely example.
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4 days ago | globest.com | Richard Berger |Holly Amaya |Anthony Russo

Special Report Instant Insights Falcon Edit Post SHARE ON FACEBOOK SHARE ON TWITTER Experts Warn Housing Could Be the Tipping Point for the Next Recession Rising Private Equity Control Raises New Questions for Apartment Sector Slowing Apartment Rent Growth Defies Seasonal Norms Harbor Group Pays $625M for Garden-Style Multifamily Sunbelt Portfolio Supreme Court Limits Environmental Reviews, Clearing Path for Faster Development Real Estate GlobeSt. ELITE Women of Influence (WOI) 2025 July 21,...
California Apartments Adapt to New Move-In and Move-Out Documentation Rules

5 days ago | globest.com | Richard Berger

California apartment communities are feeling the time crunch of a new regulation that requires them to document move-ins and move-outs to greater detail, including time-stamped images and notes about the unit’s condition. The scrutiny from recently implemented AB 2801 has led some to rely on manually uploading inspection photos, organizing them into folders, and creating itemized statements from scratch – all in the name of security deposit management and accountability.
Mission Valley Office Building Sells at ‘Market Price’ Amid Discounted Office Market

1 week ago | globest.com | Richard Berger

In partnership with Realm, L.P., HP Investors has acquired 1450 Frazee, a seven-story, 145,000-square-foot Class A office building in San Diego’s Mission Valley submarket. The off-market transaction is valued at $20.25 million. The building will be rebranded as Axis 1450 and will seek tenants seeking from 2,000 square feet to a 20,000-square-foot whole floor.
Lendlease Office Bringing Net Zero to Culver City’s ‘Techtainment’

1 week ago | globest.com | Richard Berger

Habitat, a two-building, net-zero mixed-use development in Los Angeles from Lendlease that features 253,000 square feet of creative office space, is set to open in early 2026. The property also has 260 multifamily units and 2,900 square feet of retail and restaurant space. The property is adjacent to the Culver City submarket, which caters to the area's active entertainment, technology, and media businesses.
Retail Competition Heats Up in Orange County Amid Record-Low Vacancy

1 week ago | globest.com | Richard Berger

Orange County’s retail market has become increasingly competitive due to a significant lack of available space, according to JLL’s quarterly retail report. In the first quarter of 2025, retail availability dropped to just 3.8%, only slightly above the historic low of 3.5% recorded in the fourth quarter of 2007.
Innovo Tops Out Multistory Industrial Project

2 weeks ago | commercialsearch.com | Richard Berger

By Richard Berger May 23, 2025 DevelopmentIndustrialNew YorkNewsNortheast This Queens development is slated for completion this fall. Review Avenue Complex rises six stories in the Borden Innovation District. Image courtesy of Innovo Property Group Innovo Property Group has topped out its newest multistory urban industrial facility, Review Avenue Complex in Queens’ Borden Innovation District. The firm is developing the project in partnership with The Urban Investment Group at Goldman Sachs...