Los Angeles Rising: Trending Neighborhoods and Rising Value

Los Angeles is an ever-changing landscape – ever growing, ever developing and ever expanding. As new streams of residents enter the dense urban landscape, developers are continually building to meet the increasing demand for accessible housing. As cranes dance around Downtown Los Angeles’ skyline, developments continue to pop up in trending hot-spots like Echo Park, Highland Park, and Silver Lake.

Echo Park, Highland Park, and Silver Lake have grown exponentially over the past decade and these so-called “hipster” neighborhoods have become epicenters for gentrification. Although these areas have gone through various stages, history has shown that they have always attracted hip and urban influencers through the allure of untapped potential, ease of accessibility, and a relatively lower cost of living.

These neighborhoods also hold a significance to a larger Los Angeles narrative.

Rooted in Los Angeles’ Cultural DNA

Silver Lake became a refuge for the LGBTQ community in the late sixties, notably shown through the peaceful demonstration in February of 1967 held at the Black Cat Bar. Now a historical monument, the Black Cat Bar was the site for the first documented LGBTQ civil rights demonstration in the nation. Over the past 10 years, Silver Lake has developed into one of the most expensive areas in Los Angeles’ East Side, boasting affluent residents and hip and trendy retail and restaurants.

Highland Park Bowl was erected during the midst of the Prohibition era for a place to relax and have fun. Over time, the facade was covered and the building became a local hangout for punk-rockers to see live shows while being rebranded as Mr. T’s Bowl. In 2016, a local group purchased Highland Park Bowl and through a demolition discovered that much of the original venue could be restored and repurposed, continuing a common thread that ties many of the redevelopments throughout Los Angeles’ East Side.  Highland Park  is still going through an expansion and developers are discovering the demand for more housing. Luxury condominium projects and new tenants are just starting to sprout along the streets of this historic community.

Echo Park, nestled in between Highland Park and Silver Lake, represents the middle ground of the gentrification battle. Currently, rent in the area is approaching astronomical levels while the seeds of initial developments are reaching fruition and many are asking if they are already late to the proverbial party. There is still a strong mix of both new and old in Echo Park, and reverberations remain of cultural and counter-culture movements that began along Glendale Boulevard and Echo Park Boulevard.

The Rising Tides of Value

There is a strong correlation between development, gentrification and rising value.
The median value of a home in Highland Park in 2013 was $426,000. In 2018, the median home value was $801,400, which is nearly double that of 2013, and an increase of 11.6% from last year, and is anticipated to increase 6% next year. In Silver Lake, the 2013 median value was $658,000, and in 2018, $1,184,000. [Again, nearly double in value from 2013, and a healthy] increase of 13.4% from last year, with an expected rise of 9.4% next year. Echo Park tells a similar story; the median value of a home in 2013 was $475,000, and in 2018, it rose to $850,900. The 2018 value is an increase of 4.81% from last year and is expected to increase by 5.6% next year.
All three neighborhoods have median home values that grew by nearly 200% in just 5 years. The rent prices for a 2-bedroom, 1-bathroom apartment tell a similar story

Median Rent Prices 2012 2018 Increase
Echo Park $2,347 $3,700 150%+
Silver Lake $2,195 $4,300 190%+
Highland Park $1,100 $3,495 300%+

As the residential market started to boom, so did the retail market. Along the main boulevards in these neighborhoods, retail rents are continuing to increase year by year. Along Sunset Boulevard in Echo Park, the triple net asking rent per square foot median price in 2012 was $24. In 2018, just 6 years later, the price rose to $31. Glendale Boulevard exhibited the same price fluctuation. On Sunset in Silver Lake, the median price rose from $28 to $41 over the same period of time. Figueroa, Rowena, and York all saw similar price hikes and all are expected to grow exponentially in the years to follow.

The Hipster Aesthetic

The so-called “aesthetic” culture of these areas is part of what is making them thrive. Around every turn, there is always an Instagram worthy moment at a cute coffee shop or hip boutique. Millennials love to enjoy a $5 cup of coffee that they can snap a pic of and share with friends.

Our team recently marketed a newly redeveloped building in the heart of Echo Park, providing a prime example of this new aesthetic.  Much of the appeal of Mohawk Collective comes from its design – all glass, iron elements, and exposed industrial vibe. Many developments and shops in this area are a part of this style and they attract consumers. The area directly around and in Echo Park, in general, will inevitably follow in this design retail trend.

Notable Developments


Other new developments in the area, like 1111 Sunset, are continuing to attract visitors and residents. This project will include 994,000 square feet of residential, commercial and hotel space with 778 condos, a 98-room hotel, and a 4000 square foot conference center. Other high-end residential developments are popping up, like The Griffith in Silver Lake and Alexan South Echo in Echo Park. The Griffith includes 11 3-bedroom single-family homes, starting at a price of $1,200,000. The Alexan will house 200 apartments, with rent prices between $1700 and $3900 per month.

These developments will attract new residents and visitors, driving up both home values and retail rent prices. Various neighborhoods in Los Angeles are following this same trend. Keep a look out for our next post that explores which neighborhoods are quickly developing to join the ranks of Echo Park, Silverlake, and Highland Park.

Maximizing Communication Through the Marketing Process

Communication is one of the roots to successful project management, and the main difference between a project running smoothly or a project filled with missed deadlines and avoidable bottlenecks. One of the areas with a high probability for communication to affect process and productivity is in the creation of marketing collateral and marketing campaigns.

Process, Process, Process…

Miscommunication is deadly to productivity within the fast paced lifecycle of a marketing campaign. Many times, properties have strict client deadlines, and in many cases it is as soon as humanly possible. With speed-to-market being a top priority, it is imperative that a team operates on the same page from the beginning of the marketing process.

Project managers, graphic designers, analysts, brokers, and additional administrative assistants all help funnel along a marketing campaign from its inception to its launch. Having a battle-tested process is one of the most reliable ways to ease a communication dilemma. Our team has various processes for various product types, most of them beginning with a project kick-off call or meeting. This not only helps the brokers iron out any property positioning quandaries, it helps the team understand the project vision and their individual roles within the collateral building process while creating accountability.

A process is only as strong as its level of adherence, and this is where accountability becomes king.

Establishing Defined Roles for Greater Accountability

As mentioned above, defined roles create accountability. When analyzing the effectiveness of process—how to build, improve, and even celebrate—roles are critical to seeing where communication strengths and weaknesses lie. Defined roles also pair nicely with process because it promotes a symbiotic system of checks and balances.

When our team creates an Offering Memorandum for a property, we have various stages of quality control. Ultimately, there is one person who has the final check and stamps approved to launch. If someone misses an edit, the next person can catch it and so forth.

We can also invoke the imagery or reference of a McDonald’s assembly line. Each person has their defined role and strength in completing a certain task along this assembly line. When a team process is created, you put your team members with unique abilities in a position to complete certain tasks within that role. It sounds like common sense, but many teams rely on the wrong person to complete certain tasks. You wouldn’t go to a dentist for a haircut, would you?

How to Communicate with Different Productivity Styles

There are various ways to effectively communicate, though since every team is different, no exact formula exists. Our team utilizes various tools to understand how to effectively communicate with each other, including defining our productivity styles as illustrated in Travis Carson’s Market Force chart below:

All personality types cannot be completely defined to fit in these four categories, but it can provide a few tools and can help cultivate clearer channels of communication and understanding.

It is also helpful to see communication as a two way street. People are not mind-readers, and most often do not think the same way as you. After years of working with someone, you can learn subtle nuances and come to intuitively understand your teammates; but that cannot replace clearly communicating thoughts, ideas or instructions.

Make sure everyone is on the same page early on in the process, and those few extra minutes it might take you to explain your vision will undoubtedly make a difference in the end result.

The Future of Drone Technology in Commercial Real Estate​

The Technical Advances of Drone Usage Across Industries

Technology advances so quickly it often feels faster than it should. As a professional in my thirties, I have lived through the advent of home internet and the progression of dial-up to wifi; pagers progress to the handheld technological magic we commonly refer to as our smartphones; and music being played from a Walkman, to a portable cd player, and now the multiple streaming platforms that give me access to any song at anytime and anywhere. Drone technology is progressing just as quickly, and we are continually seeing applications of drone usage across various industries.

Even in an industry that is often late to adopt cutting edge, and even sometimes commonplace technology, drones have made their mark in commercial real estate. We have discussed laws and regulations around drone usage as well as how our team, among others, have utilized this technology in marketing commercial real estate assets. Which begs us to ask, where is drone technology going? And, more importantly – what does that mean for commercial real estate?

The Future of Drone Application in Daily Life

The future has arrived and the vision of a world where drones are fully integrated into our daily lives has come to fruition. Drones have already become very commonplace and are even being integrated into our daily routine, including law enforcement using them to patrol large crowds. We saw this at this year’s Coachella music festival, where local law enforcement utilized drones to prevent potential safety incidents.

Photographers can be hired for events to take bird’s eye views of the festivities, delivery services have begun amassing fleets to launch same-day and even same-hour deliveries, and a few cities have begun utilizing drones for disaster response. These are just a few ways industries have applied drone technology. Drones have been fully integrated, and now companies are finding ways to further this technology through augmented and virtual realities.

Augmented Reality, Virtual Reality, & Mixed Reality

The first two terms have been buzz words in the marketing community in recent years and we should take a moment to clarify the difference between the two. Virtual reality (VR) aims to create a new environment, fully immersing the user’s reality into a digital world while augmented reality (AR) enhances a user’s experience in the real world with virtual elements through overlays and digital lenses. A tangible example of augmented reality would be social media filters or Pokémon Go.

There is also a third segment called mixed reality (MR) which combines aspects from AR and VR. The relationship between AR and MR is more similar. The concept is still settling into its own stride and MR products have hit the market such as Microsoft’s Hololens. This hybrid reality anchors the user’s virtual world into the user’s real world enabling a virtual object to interact with the real world. Not only would a virtual object like a box, or person be able to interact in our reality; a user could also be fully immersed in a virtual world that blends together with real-world surroundings.

Drone Application for Commercial Real Estate

This is an exciting time in technology which directly correlates with a multitude of industries. Commercial real estate can take advantage of new technology by utilizing drones to help create AR, VR, and MR elements for marketing.

Drones will aide in the ability to create virtual tours of properties and /or build interactive renderings of what a future building or build-out could be before funding construction costs. Furthermore, developers could create virtual worlds and test concepts on consumers before a property is even built.

Marketing campaigns will become immersive experiences, giving an investor the ability to tour and interact with a property from the comfort of their office or home.

The future also holds applications of drone and MR technology outside of marketing. The combination of the two could provide safer, easier and quicker site inspections.  A site inspection could be conducted remotely, providing a safer route for sites that are under construction or structurally damaged. Thermal cameras could also be utilized and surveys could be conducted through automation.

Drone technology could also improve building security and work hand in hand with human surveillance. Companies could monitor properties remotely and improve response times by utilizing drones to investigate potential security risks.

As technology advances, the commercial real estate industry will find new ways to pair drone technology with best practices. Drones have the potential to provide improved client experiences through convenience and impressive visual collateral. The possibilities are endless, exciting and inspiring.

Technology’s Potential in Property Marketing: Drone Usage & Applications

Now that we have learned about important laws and regulations on the use of drones, let’s discuss how drone technology is integrated into marketing usage within commercial real estate.

Drone Photography

One of the most pivotal components of marketing commercial real estate assets is photography. In order to create any collateral, you need a picture of what you are selling – ideally many pictures in fact and strong ones at that. Drones have brought a wonderful new perspective to real estate photography.

Because drones are able to take a bird’s eye view of the property, photographs are now able to give an investor an image of the property at all angles. This also provides your marketing team with high quality and unique photography options to create visually striking marketing collateral.

A drone can only fly up to 400 feet, so if you want to get a trade area shot that encompasses a larger radius, stick with helicopter or plane aerials. Costs for drone photography vary, but they tend to be less expensive than helicopter or plane photography. Drones can get very distinct shots of the property at angles a helicopter of plane cannot achieve.

Drone Video

The next practical application of this technology is drone video. Often, if you are hiring a drone pilot to fly drone aerial photography you will also contract them to get drone video footage. Property marketing videos have become more commonplace in commercial real estate to give an investor the opportunity to view the property more immediately than a property tour.

Drone Video has also given marketers a new medium to craft telling and compelling marketing campaigns. Getting the video footage  is only the first step in the process; the next step is contracting an editor and visual effects artist to cut and animate the footage.

This can be costly, but when done correctly drone video adds layers of sophistication and distinction to property marketing campaigns.

Contracting Drone Photographers and Pilots

One of the greatest challenges in executing both drone photography and video is finding a pilot you can trust. To set yourself up for success, start by finding out if they are licensed by the FAA and carry an insurance policy. This is very important, especially if something were to happen during a shoot. Secondly, do some research to discover what your drone preferences are. What kind of angles do you like and how do you like your video footage shot?  Providing this information to your photographer will help cut extra costs and will also help your pilot deliver exactly what you want and what you need to deliver to your post production team. This extra step will save a lot of time and money on re-shoots and the overall post production process.

The Future of Technology in Real Estate Marketing

With the advent of VR, we can only presume that drones will be a huge part of where commercial real estate marketing is going. There’s the potential for every technological opportunity from virtual reality tours to area flyovers. Drone technology is also becoming more exact. Now, many of the drones  carry bluetooth technology and motion sensors allowing the pilot to direct the drone with the slide of their own hand. Drones can also detect when they are in range of a no-fly zone and will often times not work until they are within safe parameters.

The future is opening new doors for real estate marketing — don’t let potential pass you by​.

Understanding Your Property Type & How to Market It

Property marketing can be a complex formula in understanding both the buyer and property. Our team has found that breaking that formula down to two equal parts has been a proven way to properly position a property on the market.

Understanding the buyer is the foundation to our property marketing methodology. Next step is understanding the property.

What Type of Property is it?

Classifying the subject property type is just as important as finding out what kind of buyer bucket the property fits into. Our metrics begin with distressed and go all the way up to generational.

A distressed property would be one that sounds just as it is described – a property that would need a lot of capital improvements, potential lease-up strategy, and would probably market with an “as-is” financial analysis. Distressed properties are very specific to certain buyer profiles, and we typically see more of the private equity and sole ownership buckets purchasing these types of properties.

Opportunistic and value-add properties typically appeal to the dreamer – one who can see the potential in either the property or the trade area. When our team markets a property that fits into this category, we usually form the offering memorandum around the possibilities rather than the “as-is” narrative. This usually includes a projected financial analysis as well as a strong market and area overview section. A prime example of this would be our Hacienda Plaza property in La Puente, California. Typically these types of properties offer a higher yield in a shorter amount of time than a distressed property, and usually have some sort of characteristic that would attract a Syndicator or REIT.

Once we move on to the lower quadrants of the property positioning chart, we see core through generational. These properties are highly sought after and are highly attractive to the more institutional buckets. Marketing these properties revolves around a narrative of the stability and long-term viability rather than high-yield opportunities. Our offering memoranda become more financially driven and focus on the tenants and overall market landscape. For a property to be considered core or above, there are very distinct characteristics it must have i.e., strong tenancy, high occupancy rates, stable to upward trending financials, and a strong trade area that is either consistent or growing. Of course, these are not the final say in what makes a property core or higher, but they are common traits among the properties we have marketed and sold.

 

Marketing the Property

Once our team has fully vetted the subject property and has placed it on our property positioning chart, we take active marketing steps to not only target the specific buyer profile but also tailor each marketing campaign to the property type.

For a distressed property we might take a softer approach and target a specific pool of buyers that seek distressed properties by creating a very direct valuation and offering memorandum. Often third party platforms would be leveraged at a higher rate such as Loopnet, TenX, Propertyline, and Costar. A buyer for a distressed property is very specific, and the marketing campaign would reflect that specificity.

Value-Add and opportunistic properties have to appeal to the macro-minded individual. Our team generally places a stronger emphasis on graphic elements, trade area information, and photography. Our visuals tend to emphasis the property’s potential as well as its inherent value. We usually launch a full eBlast marketing campaign and often leverage third party marketing platforms such as Real Capital Markets as well as produce a property video.

When we start marketing core through generational properties, our team creates a full eBlast campaign, leverages third party marketing platforms such as Real Capital Markets, and produces a property video. Although these property types do appeal to the more institutional buckets, the buyer pool also widens to include high net worth individuals as well as REITS and funds. We tend to place a heavier emphasis on the underwriting, but also make sure we are implementing highly stylized graphics. Since the buyer pool widens, our marketing campaigns have to appeal to that larger audience.

Ultimately, each property is unique in its own right. Even with our property positioning chart and formula, there will be exceptions to our methodologies. Each of our marketing campaigns is customized and individually built to reflect each property’s unique characteristics.

We make sure to maximize exposure, create a best-in-class campaign, and always strive for our team’s promise of a secured and managed close. If you would like more information on our process or how your property fits into our positioning chart, please feel free to contact us.

Real Capital Markets : A Resource for Online Marketing

One of the greatest tools we have found in utilizing technology within our property marketing is leveraging the third party platform Real Capital Markets (RCM). Although it is attached to a distinct price tag, the platform is a one-stop-shop for all of our property marketing needs. The platform not only allows you to create a unique website for the property equipped with its own domain, it can send property emails, keep an on eye on real-time reporting, and provide immediate war room access to qualified investors.

Know Your Pricing Options

There are different pricing options for the platform (for more information on pricing please contact RCM), and our team has utilized both the DIY Package and the Silver Package. The main difference between the two is that the Silver Package includes RCM’s distribution list of qualified investors, and depending on your pricing rubric – a thousand dollars. The purchased distribution information is proprietary and protected by RCM, so certain items are hidden from the user such as email address. There are two higher packages, Gold and Platinum Package, which offer additional support in creating the “teaser” or landing page as well as additional email building support. These two packages would be ideal for a team that did not have the graphic support capability to create and execute the design elements for a landing page or eblast on their own.

RCM also offers exceptional support. It took me a few months to figure out how to fully navigate through the platform, and their support staff was with me every step of the way. With each new project, you are assigned an account manager who will be able to help you with any questions you might have.

Reporting Metrics

One of my favorite features is the RCM Reporting tab. Not only is everything in real-time, the interface is easy to use and there are also notification features. Everything is vertically integrated within the platform, and reporting begins from viewing the landing page, to the initial eblast, and all the way through downloading documents from the war room. You no longer have to visit several platforms to provide your client with updated and accurate reporting, RCM provides it all in one place.

Another great feature is the notifications. RCM sends a bi-weekly report and you can also set up your own personal notifications to receive an alert when someone executes ta project’s confidentiality agreement. Our team loves this feature because it is a wonderful, real-time gauge of the market’s interest in a specific property/project. Yes, a surge of emails filling your inbox could be somewhat distracting, but it is also a great way to see property interest and build genuine excitement about the marketing campaign itself.

War Rooms

RCM has set a high precedent on what a War Room should be and how it should interact with your marketing platform.

The War Room itself is user-friendly and provides you with multiple security settings. This is where our team typically houses the property’s offering memorandum and all of the property’s due diligence.

The offering memorandum and any other information we would want someone to initially receive about the property is typically set to low, while higher level due diligence items such as leases and sensitive financial documents are set to medium or high. And the wonderful things about the RCM War Room is that clients can access the low-level information immediately after executing the online confidentiality agreement.

Please do keep in mind that RCM does allow you to manually approve each person who enters the War Room even if they execute the CA, and for some brokers this is preferred. Our team has found that adding additional security measures has no added benefit to the low-level information. Our distribution lists are already filtered and find that a best practice is to let people get the information as soon as and with as much ease as possible.

In conjunction with the reporting, RCM allows you to see who has downloaded specific documents, what they have opened, and their time stamped activity within the War Room. In my experience, no other service out there has been able to provide this in such a user-friendly and aesthetically pleasing interface.

There is an initial storage limitation on of 100 MG to the War Room, but there are also options to purchase more space if needed.

Cross Linking Between Platforms

Something that we have also found useful within our property marketing is that RCM allows you to cross link to their platform. RCM does limit the amount of full distribution blasts you can send per project. Each project is allowed two full distribution blasts. This stops people from sending mass amounts of emails to their distribution lists, which in turn protects RCM and RCM’s distribution list from SPAM complaints.

Although this may seem limiting, this is one of the factors that make’s RCM’s purchased distribution lists so effective. They take these extra measures to ensure that the people on their lists are active users. Do not fear, you can send additional (and unlimited) emails to “approved” users, or those that have engaged in the marketing campaign. RCM will also make additional exceptions if there are significant changes to the property such as a notable price adjustment.

There will be times when a team will want to send another email to a full distribution list after using the initial two blasts. The great thing about that is you don’t have to lose any valuable reporting by going through another e-blasting platform. RCM has built in generic links to both the project’s landing page as well as a confidentiality agreement. By placing these generic links into the other platform, you are still able to filter all the reporting through RCM. These generic links have proven to be invaluable not just for additionally blast, but for answering property requests that have been sourced from third party sites such as Loopnet, Costar, and Propetyline.

RCM really has done a wonderful job in supplying brokers and marketers with all the tools needed to create and execute a successful marketing campaign. My only criticisms of the platform really lie within the pricing and time limitations surround the lifespan of a project, but those things are extremely subjective and do not diminish the many benefits you receive when using the platform.

Please feel free to contact us with any questions you might have on the platforms functionality as well as our team’s best practices. We have utilized the platform for years and have found it to be one of our greatest marketing tools.

Understanding the Buyer for Your Shopping Center

Winning the business is half the battle. Marketing the property with a comprehensive and precise marketing campaign therein lies a greater challenge. If positioned incorrectly, the property will not sell, the marketing methodology becomes diluted, a team loses credibility, and a long term relationship could be lost.

Sellers want to feel confident that their property will sell, quickly, and that they are working with a team that has proven their ability to properly position a property on the market.

Typically, marketers and teams will focus on external elements such as a property’s location, tenancy, and pricing metrics to formulate the overall marketing strategy and positioning. Our team tends to work the other way. Our analysis of the property goes deeper and into the minds of different buyer profiles. Our buyer becomes “ground zero” for all positioning and marketing methodologies.

The key to precision is positioning the buyer, not the property.

Understanding Your Buyer

The key to properly positioning a property is understanding the buyer and their corresponding risk categories. The higher the yield on a property; the higher the risk.

When our team is awarded a listing, we use the chart below to define the different categories of buyer profiles and their corresponding risk categories. We look at where the property would fall within this chart and begin from there.

What Next?

Once our buyer and risk category have been established, our marketing materials seamlessly fall into place.

Specific buyer profiles lend to specific styles. Let’s say a property falls within the Fund Adviser bucket and a trophy property (Q3). Our team would create a financially driven offering memorandum, with less imagery and more substance. In this case, we are speaking to industry professionals that are looking for exact information and specific terms. They are clear with their requirements and the marketing materials are then focused on messaging that resonates with those buyer profiles​.

If we were catering to a profile in Q1, the offering memorandum and materials would be a little more vibrant and picturesque. We would include information that would emotionally drive a buyer in this quadrant to feel confident in the possible investment. At times these investors are also more drawn and sensitive to regional connections, tenants, and the inherent narrative and nuances of a property. Since these properties might pose higher risks than those found in other segments, our marketing materials would have to lend to those characteristics.

The Art of Positioning

The art of property positioning lies in the ability to translate the raw property data to our property positioning rubric. Decades of experiences have provided our team with the ability to analyze subtle nuances, analyze the projected yields, as well as the long term viability of the potential investment.

Of course there are outside factors that can also change the effectiveness of positioning the property based on a certain buyer profile. We have had instances where the market has shifted during a marketing campaign, changing not only the buyer profile but also the content of our marketing materials, and at times, creating a whole new set of marketing materials.

Above all, being artfully adaptable is the best way to complement experience. For more information on our proven process, or to find out where your property is on our chart, contact us here:

Bringing Technology To Market

Baking a pie takes precision and strategy, a careful measure of all the ingredients creating the perfect formula. The pie crust needs to be the right consistency and bake to support the filling. Timing becomes the catalyst to perfection. Thankfully, today’s modern technology has supplied digital scales, timers, and thermometers that have taken away most of the guess work, providing many with the tools needed to achieve culinary success.

Marketing for commercial real estate has also experienced similar advances in technology that measure campaign metrics and provide the data to help perfect one’s marketing methodology.

Our team has learned to lean on much of this technology to build our marketing process and ensure both precision and efficiency.

Digitize all Materials

Most of our materials are now digital.  Although we do make printed collateral for our team marketing, we always accompany each piece with a digital version.

Digital Materials not only help track open rates and additional metrics, it also allows for incorporating interactive elements that are not traditionally utilized in the industry. As a marketer for Lagos Shopping Center Advisers, I push our team to breathe new technological innovations into our campaigns. No longer are the days of printed collateral, mailers, and faxing. Everything needs to be instant and easy to access.

Our team utilizes a few platforms to ensure investors can access the property marketing materials immediately – our go-to being Real Capital Markets (RCM). Their user friendly interface not only allows for immediate access, its aesthetics are sharp and the platform is easy to use. RCM also provides our team with real time alerts letting us know when someone has accessed the marketing materials.

Drone Videos have also been a great way to bridge the gap between antiquated marketing campaigns and innovation. Our team creates a video for every property we market and we make sure to utilize the newest trends in video editing and animation.

Tracking Metrics

Tracking the effectiveness of marketing campaigns is one of the most distinct benefits of leveraging technology for commercial real estate marketing campaigns. Metrics are essential to any marketing campaign because they show whether your marketing efforts resonate with your target audiences.​ This not only helps us make adjustments to current campaigns, it also helps us streamline future campaigns.

With every new campaign innovation there is a huge curve for learning. A wonderful example of this was our team figuring out the appropriate length for a property video. Metrics helped us find that most videos should be no longer than one minute and ten seconds. We learned an important behavioral pattern, specifically how much time our audience wants to spend watching a property video.

Not only are metrics important to us, they are important to our clients. And, technology allows us to accurately provide that information. Our clients want to know that we are correctly positioning their properties by showing them how many people watched the property video, how many people opened up an email from our marketing campaign, as well as how many people downloaded marketing materials throughout the campaign. These metrics provide valuable benchmarks and also help us re-assess a marketing campaign if the numbers just aren’t reaching our expectations.

Timing Is Everything

Timing really is everything with commercial real estate marketing campaigns and technology is a wonderful tool in helping our team find a campaign’s rhythm.

Because most of the platforms we use give us detailed metrics, we are able to see what time of the day works best for sending email campaigns, and even if a campaign is losing steam.

Technology goes hand in hand with all of our marketing campaigns and we are always looking for new ways to provide our clients with the highest quality possible and the most effective marketing campaigns.

The Lagos Team | Shopping Center Advisors | Ikea, Burbank

New Ikea. New Burbank?

February was an exciting month for Burbank as the largest IKEA in US history opened its doors to a swarm of excited patrons.

This 456,000 square foot location provides shoppers with a 1,700 vehicle parking structure, and a 600-seat restaurant, a childcare center, and all 10,000 items that IKEA sells. Even though the new location is less than a mile away from its previous location within Burbank’s main shopping corridor, this new free-standing IKEA might mean big changes for Burbank retail.

Our team has seen the retail market in Los Angeles County transform over the past twenty years, and this IKEA development will undoubtedly usher in a new retail transformation for Burbank. It only takes one landmark development to ignite a movement, and we directly saw the effect of the IKEA long before its completion.

In 2015, our team sold a contiguous property known as Gateway at Burbank shopping center. The property and marketing campaign garnered notable attention solely based on its proximity to the IKEA development. Investors knew that there would be an influx of consumer traffic to the property and anticipated the possible influence the development would have on the immediate trade area.

Generally characterized as a quiet city with a strong focus on media production, Burbank has gained the attention of many national retail tenants as of late. One of the biggest and unique advantages of the Burbank trade area is the luxury of space while still retaining a high density. The city has also seen a consistent and growing population of young professionals and family households, and retailers are answering the call for closer, national chains.

The new IKEA is a prime example of what that answer might look like for the national retailers setting up shop in Burbank. It is also poignant to note that IKEA has always taken an innovative lens when it comes to their products and providing their clients with quality at an affordable price. Their new location has only echoed this innovation and we can guarantee that other retailers will follow their lead by breaking ground on larger and more distinct developments.

Whole Foods is building a new location that will be accompanied by a 241-unit, four story apartment complex, echoing their Downtown Los Angeles location. The Yard House is also slated to open a new location in Burbank as well as the regionally famous taco spot –  Guisados.

Although many shoppers are excited about these flagship developments, some residents are concerned that the developments will harm the city’s “small town” feel. And, they might be right. We can only anticipate that the reverberations from this new development will change Burbank much like The Americana at Brand and The Galleria transformed the retail landscape of Glendale. This change most certainly won’t happen overnight, but we should see a few more notable retail developments pop up around Burbank over the next few years – specifically in Downtown Burbank, the Airport District, Magnolia Park, and the Media District.

The City of Burbank also provides information on current economic developments through their website. This is a great tool and a wonderful way to monitor the growing pulse of Burbank’s retail development. We highly recommend paying special attention to new applications for zoning and building changes as well as any multifamily development. More homes and people always equals more demand.