Larry Margo is a Berkshire Hathaway Senior Commercial Real Estate Agent, specializing in commercial and investment properties in Southern California for over 25 years. Whether it be a commercial sale, commercial lease, multi-family apartments, or a 1031 exchange; Larry Margo has the professional experience and seasoned expertise in all of these areas to best help with your commercial real estate needs.
Larry has been named in the top 5% of Real Estate Agents for his track record in Real Estate Sales and has also received a number of awards for outstanding sales and performance. (Larry also sits on the Southland Regional Association of Realtor’s Commercial and Investment Board and Berkshire Hathaway Charitable Board.)
Company: Berkshire Hathaway
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DRE License: #00911053
Larry Margo’s FAQs
The market is good, depending on the type of real estate of interest...In office buildings, all is still a bit soft but recovering post-Covid pricing and rents and creative office spaces are still being converted and built..Industrial buildings and storage are still a very good market with buyers having to go into San Berdoo/Riverside to find anything for owner/user or investment. Last-mile warehousing, as close to the ports as you can get is still very good.
Land for building industrial has gone up to purchase and to even lease to put vehicles on or storage containers...Apartment buildings are holding their value almost everywhere in SoCal and still getting low cap rates, particularly in town and surrounding areas...Suburbs are doing well in apartment pricing as more people seem to want them as they are a bit less expensive and probably more space than in the more urban areas.
Retail is still struggling with pricing and rents...Covid has really thrown retailers off the track a bit with less shoppers and more electronic shopping, although, I just spoke with a deli owner in Studio City, yesterday, and he said his take-out has exploded but if you own a dress shop, things might be tougher, right now, for you...
As far as ideal real estate at the moment, I'd say, if you can get your hands on a nice warehouse space you'll be able to lease it readily and I don't see that market chilling out for a while...If you want to take a longer term gamble, office buildings and retail in good locations are probably a good bet...Apartment buildings are the steady, stable investment going and since we are still underhoused in SoCal, those properties will continue to move right along...
Depends on what you're offering...
Office space, if you're within a competitive pricing range for your type of building could take up to a year...NNN (NNN = Triple net lease) leases are not very common for these type offerings and offering to build out is usually a must along with a bit of a concession in price.
Retail is not much better but, again, depending where you are the market is moving a bit faster but still around six months or so...NNN leases are common in retail...No concessions on the NNN charges but you will, probably have to concede on the base rent and help with build out. Apartment buildings are still going on well and unless you're very picky or demanding of new tenants or outside the market range, you will probably be able to rent a unit within a three month period or so...Some concession might be necessary
Industrial/warehouse properties are still on fire (not literally). Looks like you can get new renters in within a 60 day period...Most of the leases are not NNN and not much in concession on price..Maybe a little concession on build out but a lot of space comes empty (vanilla shell condition) and most of the build out is tenant driven and paid for.
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