ADVERTISING SUPPLEMENT COVID-19 Hits All Commercial Micro-Grants Now Available to California Small Businesses Real Estate California on Wednesday began accepting applications for a new relief grant program for small businesses, including Real- tors, affected by the COVID-19 pandemic. The program provides micro-grants ranging from $5,000 to $25,000 to eligible small businesses includ- ing independent contractors and sole proprietors- impacted by COVID-19 Soutand Regonal Aesociation ot Reators By Dane Sydel, President, and Daid Waker In the weeks and months prior to the pandemic in early 2020, commercial real estate through- out Los Angeles was basking in the glow of a nine-year-long up market. SOUTHLAND REGIONAL ASSOCIATION OF REALTORS", INC. GOV Downtown Los Angeles will struggle to recover what has been lost to the pandemic, though the Southem California economy overall should weather the downtum. "We lost a lot of large corporate businesses," Patap said, "but the region is still a hub for the entertainment industry. ... As a result, I don't see a lot of out-migration going forward." If the pandemic played havoc with office space, it socked hotels, as business travel came to a hard stop, and provided a double-whammy to the retail sector for several quarters. Multi-family commercial properties definitely are going through issues, he said. Rents haven't seen much movement, Today, all seg- ments of local commercial real estate have been negatively impacted from the pandemic, although to dif- fering degrees. "What does the future hold?" asked Ryan Patap, market analyst for CoStar Group, during a December Zoom meeting organized by SRAR's Commercial and Ivestment Division attended by 41 San Fermando Valley and Santa Clarita Valley commercial and the related health and California COVID-19 amount will be based on the Relief Grant Program safety restrictions. The grant maintaining the region's reputation as a high-cost housing market. "We kocked down harder in LA. and it had an impact, Patap said. "Clearly people are migrating east, with rents in the Inland Empire going up,"which are the same dynamics seen over decades. Urban multi-family units will struggle, while suburban vacancy has business's annual revenue as documented in its most recent tax returm: For annual revenue of $1,000 to $100,000, the available grant amount is $5,000; For annual revenue of greater than $100,000 up to $1,000,000, the avail- able grant amount is $15,000; For annual revenue of greater than $1,000,000 up to $2,500,000, the avail- able grant amount is $25,000. Applications for the program must be submitted through a Community Devekopment Financial Institution that has partnered with the state of Cali- fornia to distribute the funds. The list of partners, organized by location and by language services, can be found at: https//careliefgrant.com/partners/county The first round for applications opened on Wednesday, Dec. 30, and closes on Jan. 8, at 11:59 p.m. Approval notifications will begin on Jan. 13. There will be a second round for application submissions and reviews, although the dates for that round have not yet been announced. Applicants who submit their application and submit all documentation in the first round should not reapply, since one complete application qualifies an applicant to be considered for both rounds. For additional details, go to the California Small Business COVID-19 Relief Grant Program website, at https://carelicfgrant.com. Realtor Diane Sydel, 2021 SRAR President Retail Supply, Demand, and Vacancy - Baseline Forecast 2M professionals. IM "There are so many variables," Patap said, "which means we really don't know.... We're secing conditions OM (M) deteriorate quite quickly." The pain felt varies from sector-to- sector, though office and retail com- mercial space are hardest hit. Companies are re-considering origi- nal decisions about the importance of office space as they struggle to survive the paridemic with many employees (2M) 2% OM) 06 or o8 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 FREE COMMERCIAL Quaterly Change in Demand Ouarterly Charge in Supply -Vacancy Cour 2021 -by driving demand for home deliv- ery and fueling on-line shopping. As a result, only retail space for grocery stores - such as the new been and will remain tight. "We've gotten hit more than the rest of the country,"he said. Affordability will remain an isue, especially with ommercial Keal Fatate ducation Series working from home. CLASSES IN A er Healthy firms are thinking differ- ently right now, evaluating if they will have more people working remotely even after the pandemic ends. Space is up 75 percent since the end of March. There will always be a need for office space, Patap said, "but it will be shrink- ing,"perhaps 15 percent to 20 percent. "Some areas will comeback, some paces will just sit empty, "he said. There will be a lot of unknowns. "Some companies may adopt a hybrid model, doing more work at home, but in the office several days per week,"he said. "It will be different for everyone. In the meantime, office rents are trailing down. We see vacancy increasing for several more quarters JANUARY 2021 Amazon Fresh store in Woodland Hills little new multi-family construction, ex- -provided any significant movement cept for a few pockets of development. in this sector, Patap said. Warner Center, in the west San All Classes are Taught by Practioners, and held via Zoom unti further notice. In many instances, however, as the pandemic continued, temporary retail closures morphed into permanent shutdowns. "Retail va- cancy will con- tinue to rise, he said, "staying high even when there's a Ryan Patap, Market Analyst, recovery." Renis for retail space peaked in the first quarter and have been tuming down ever since, a trend Patap said is likely to continue Fermando Valley, is one of the few urban areas with several multi-family projects underway. For More Info. Visit www.Commercial srar.com The Southland Reglonal Association of Real tors is a local trade association with more BRIAN HATKOFF, CCIM HEATHER BOREN than 10,300 members serving the San Fer nando and Santa Clarita Valleys. SRAR is one of the largest local associations in the nation. ABC's of Commercial Real Estate Introduction to Leasing Interest Rate Update January 20, 2021 January 27, 2021 9:00am-10:30am 9:00am-10:30am As reported by Freddie Mac onc December 31 30-Yr FRM 2.66% An Introduction to the practical applications ol Commercial Real Estate and how itdffers from Residential Real Estate. An introduction to leasing of Commercial propertes which touches upon the dforent types of properties including Retal. Otlioe and Industrial before plateauing." Despite these setbacks, he said con- struction of office space is at a 30-year high with developers going forward with projects concentrated in Burbank 15-Yr FRM -2.19% December 17 30-Yr FRM - 2.67% 15-Yr FRM 2.21% CoStar Group Register Here: sar.oom Cilass20January2021 Register Here Sar com Cicdass27January2021 and West Los Angeles. THE VOICE OF REAL ESTATE IN THE SAN FERNANDO AND SANTA CLARITA VALLEYS www.SRAR.com | Real Estate Questions? E-mail Diane Sydell, SRAR 2021 President, c/o DavidW@SRAR.com REALTORS is a federally registered collective membership mark which identifies a real estate professional who is a Member of the NATIONAL ASSOCIATION OF REALTORS and subscribes to its strict Code of Ethics. Vacancy Rane Quanerly Change in Supply & Demand ADVERTISING SUPPLEMENT COVID-19 Hits All Commercial Micro-Grants Now Available to California Small Businesses Real Estate California on Wednesday began accepting applications for a new relief grant program for small businesses, including Real- tors, affected by the COVID-19 pandemic. The program provides micro-grants ranging from $5,000 to $25,000 to eligible small businesses includ- ing independent contractors and sole proprietors- impacted by COVID-19 Soutand Regonal Aesociation ot Reators By Dane Sydel, President, and Daid Waker In the weeks and months prior to the pandemic in early 2020, commercial real estate through- out Los Angeles was basking in the glow of a nine-year-long up market. SOUTHLAND REGIONAL ASSOCIATION OF REALTORS", INC. GOV Downtown Los Angeles will struggle to recover what has been lost to the pandemic, though the Southem California economy overall should weather the downtum. "We lost a lot of large corporate businesses," Patap said, "but the region is still a hub for the entertainment industry. ... As a result, I don't see a lot of out-migration going forward." If the pandemic played havoc with office space, it socked hotels, as business travel came to a hard stop, and provided a double-whammy to the retail sector for several quarters. Multi-family commercial properties definitely are going through issues, he said. Rents haven't seen much movement, Today, all seg- ments of local commercial real estate have been negatively impacted from the pandemic, although to dif- fering degrees. "What does the future hold?" asked Ryan Patap, market analyst for CoStar Group, during a December Zoom meeting organized by SRAR's Commercial and Ivestment Division attended by 41 San Fermando Valley and Santa Clarita Valley commercial and the related health and California COVID-19 amount will be based on the Relief Grant Program safety restrictions. The grant maintaining the region's reputation as a high-cost housing market. "We kocked down harder in LA. and it had an impact, Patap said. "Clearly people are migrating east, with rents in the Inland Empire going up,"which are the same dynamics seen over decades. Urban multi-family units will struggle, while suburban vacancy has business's annual revenue as documented in its most recent tax returm: For annual revenue of $1,000 to $100,000, the available grant amount is $5,000; For annual revenue of greater than $100,000 up to $1,000,000, the avail- able grant amount is $15,000; For annual revenue of greater than $1,000,000 up to $2,500,000, the avail- able grant amount is $25,000. Applications for the program must be submitted through a Community Devekopment Financial Institution that has partnered with the state of Cali- fornia to distribute the funds. The list of partners, organized by location and by language services, can be found at: https//careliefgrant.com/partners/county The first round for applications opened on Wednesday, Dec. 30, and closes on Jan. 8, at 11:59 p.m. Approval notifications will begin on Jan. 13. There will be a second round for application submissions and reviews, although the dates for that round have not yet been announced. Applicants who submit their application and submit all documentation in the first round should not reapply, since one complete application qualifies an applicant to be considered for both rounds. For additional details, go to the California Small Business COVID-19 Relief Grant Program website, at https://carelicfgrant.com. Realtor Diane Sydel, 2021 SRAR President Retail Supply, Demand, and Vacancy - Baseline Forecast 2M professionals. IM "There are so many variables," Patap said, "which means we really don't know.... We're secing conditions OM (M) deteriorate quite quickly." The pain felt varies from sector-to- sector, though office and retail com- mercial space are hardest hit. Companies are re-considering origi- nal decisions about the importance of office space as they struggle to survive the paridemic with many employees (2M) 2% OM) 06 or o8 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 FREE COMMERCIAL Quaterly Change in Demand Ouarterly Charge in Supply -Vacancy Cour 2021 -by driving demand for home deliv- ery and fueling on-line shopping. As a result, only retail space for grocery stores - such as the new been and will remain tight. "We've gotten hit more than the rest of the country,"he said. Affordability will remain an isue, especially with ommercial Keal Fatate ducation Series working from home. CLASSES IN A er Healthy firms are thinking differ- ently right now, evaluating if they will have more people working remotely even after the pandemic ends. Space is up 75 percent since the end of March. There will always be a need for office space, Patap said, "but it will be shrink- ing,"perhaps 15 percent to 20 percent. "Some areas will comeback, some paces will just sit empty, "he said. There will be a lot of unknowns. "Some companies may adopt a hybrid model, doing more work at home, but in the office several days per week,"he said. "It will be different for everyone. In the meantime, office rents are trailing down. We see vacancy increasing for several more quarters JANUARY 2021 Amazon Fresh store in Woodland Hills little new multi-family construction, ex- -provided any significant movement cept for a few pockets of development. in this sector, Patap said. Warner Center, in the west San All Classes are Taught by Practioners, and held via Zoom unti further notice. In many instances, however, as the pandemic continued, temporary retail closures morphed into permanent shutdowns. "Retail va- cancy will con- tinue to rise, he said, "staying high even when there's a Ryan Patap, Market Analyst, recovery." Renis for retail space peaked in the first quarter and have been tuming down ever since, a trend Patap said is likely to continue Fermando Valley, is one of the few urban areas with several multi-family projects underway. For More Info. Visit www.Commercial srar.com The Southland Reglonal Association of Real tors is a local trade association with more BRIAN HATKOFF, CCIM HEATHER BOREN than 10,300 members serving the San Fer nando and Santa Clarita Valleys. SRAR is one of the largest local associations in the nation. ABC's of Commercial Real Estate Introduction to Leasing Interest Rate Update January 20, 2021 January 27, 2021 9:00am-10:30am 9:00am-10:30am As reported by Freddie Mac onc December 31 30-Yr FRM 2.66% An Introduction to the practical applications ol Commercial Real Estate and how itdffers from Residential Real Estate. An introduction to leasing of Commercial propertes which touches upon the dforent types of properties including Retal. Otlioe and Industrial before plateauing." Despite these setbacks, he said con- struction of office space is at a 30-year high with developers going forward with projects concentrated in Burbank 15-Yr FRM -2.19% December 17 30-Yr FRM - 2.67% 15-Yr FRM 2.21% CoStar Group Register Here: sar.oom Cilass20January2021 Register Here Sar com Cicdass27January2021 and West Los Angeles. THE VOICE OF REAL ESTATE IN THE SAN FERNANDO AND SANTA CLARITA VALLEYS www.SRAR.com | Real Estate Questions? E-mail Diane Sydell, SRAR 2021 President, c/o DavidW@SRAR.com REALTORS is a federally registered collective membership mark which identifies a real estate professional who is a Member of the NATIONAL ASSOCIATION OF REALTORS and subscribes to its strict Code of Ethics. Vacancy Rane Quanerly Change in Supply & Demand