November 2021 – Future Land Operations

ViacomCBS to promote famed Studio Metropolis TV lot for $1.85 billion

Published on November 30, 2021November 30, 2021 by James

ViacomCBS has reached a $1.85-billion deal to promote the CBS Studio Heart complicated in Studio Metropolis — residence to such landmark TV reveals as “Seinfeld,” “The Mary Tyler Moore Present,” “Gilligan’s Island” and “It’s At all times Sunny in Philadelphia.”

Actual property traders Hackman Capital Companions and Sq. Mile Capital Administration teamed as much as win the aggressive public sale for the 55-acre Radford Avenue property.

The staggering price ticket underscores the worth — and shortage — of TV soundstages in Los Angeles as content material producers scramble for house to shoot TV reveals and flicks to inventory their streaming providers. The public sale was introduced final summer time.

The deal, introduced Tuesday, represents one of many largest actual property transactions for a TV studio complicated in Los Angeles.

“We’re honored to have been chosen as the brand new stewards of CBS Studio Heart, one of the crucial celebrated and

Some California cities attempt to blunt new duplex regulation with restrictions on new developments

Published on November 30, 2021December 27, 2021 by James

With California on the verge of permitting multi-unit housing in neighborhoods beforehand reserved for single-family properties, some cities are speeding to move restrictions on the brand new developments.

Senate Invoice 9, which takes impact Jan. 1, requires communities throughout California to permit duplexes, and in some instances 4 models, in most single-family dwelling neighborhoods.

The regulation’s passage this summer season got here after years of debate over tips on how to handle a scarcity of obtainable properties at root of the state’s housing affordability issues.

However opponents to the brand new regulation contend that it’ll overrun single-family dwelling neighborhoods with growth that runs counter to the character of their communities and can imply extreme site visitors. In addition they argue that the housing allowed gained’t be reasonably priced. Cities throughout the state, from Los Altos Hills and Cupertino within the Bay Space to Pasadena and Redondo Seashore in Los Angeles

House worth good points decelerate for the primary time since Could 2020

Published on November 30, 2021November 30, 2021 by James

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Daniel Acker | Bloomberg | Getty Photos

House costs are nonetheless significantly greater than they have been a 12 months in the past, when the pandemic prompted a large run on housing, however the good points are lastly beginning to ease up.

House costs rose 19.5{bcca2771c8fd4f0539f1ec527d1835c8bb922de3213c66cf8820e64eb9f0da12} in September 12 months over 12 months, down from a 19.8{bcca2771c8fd4f0539f1ec527d1835c8bb922de3213c66cf8820e64eb9f0da12} annual achieve in August, in line with the S&P CoreLogic Case-Shiller nationwide residence worth index. That’s the first lower within the annual achieve since Could 2020.

The ten-city composite rose 17.8{bcca2771c8fd4f0539f1ec527d1835c8bb922de3213c66cf8820e64eb9f0da12} from a 12 months in the past, down from an 18.6{bcca2771c8fd4f0539f1ec527d1835c8bb922de3213c66cf8820e64eb9f0da12} achieve in August. The 20-city composite gained 19.1{bcca2771c8fd4f0539f1ec527d1835c8bb922de3213c66cf8820e64eb9f0da12} year-over-year, down from 19.6{bcca2771c8fd4f0539f1ec527d1835c8bb922de3213c66cf8820e64eb9f0da12} within the earlier month.

Cities with the best worth will increase have been Phoenix, Tampa, and Miami. Phoenix costs have been up 33.1{bcca2771c8fd4f0539f1ec527d1835c8bb922de3213c66cf8820e64eb9f0da12} year-over-year, Tampa up 27.7{bcca2771c8fd4f0539f1ec527d1835c8bb922de3213c66cf8820e64eb9f0da12} and Miami up 25.2{bcca2771c8fd4f0539f1ec527d1835c8bb922de3213c66cf8820e64eb9f0da12}. Six of the 20 cities reported greater