West

MARKET SNAPSHOT: Lack of Construction in Portland to Send Vacancy Rates to Historic Lows

As the next building cycle for the Portland area is still another year out, vacancy rates are expected to fall to historic lows across the metro.

MARKET SNAPSHOT: Albuquerque Multifamily Takes Hit Due to Poor Employment, Renewed Single-Family Growth

As employment in the Albuquerque MSA tumbled 0.5 percent in 2011, reflecting a loss of 1,900 jobs, demand for apartments fell to a four-year low.

MARKET SNAPSHOT: Fort Carson Expansion to Bring Jobs, Rental Occupancy to Colorado Springs

Fort Carson, a 137,000-acre U.S. Army Base in Colorado Springs, will see the addition of a 2,700-soldier aviation brigade by 2013, raising the total GI population of the base to around 30,000, according to Hendricks & Partners.

MARKET SNAPSHOT: Las Vegas Recovers Select Jobs, Increasing Multifamily Sales

Multifamily sales in the Las Vegas metro area increased by 59.6 percent between the third quarters of 2010 and 2011, this in concurrence with the overall unemployment rate dropping from 15.5 percent to 14.2 percent.

MARKET REPORT: West Coast Experiences Substantial In-Migration, Rent Growth

Many major markets on the West Coast are experiencing significant rent growth due to substantial in-migration.

JLL Strengthens Multifamily Team in SoCal

San Diego–Higher occupancies and rising rental rates in the Southern California apartment market are creating a significant demand for investment sales expertise, prompting Jones Lang LaSalle to hire big guns.

Time Equities Expands with West Coast Office

New York–New York-based Time Equities Inc. has opened its first West Coast office in Los Angeles.

Berzack Group Joins Lee & Associates

Sherman Oaks, Calif.–The Berzack Group, led by President Warren Berzack, has joined Lee & Associates.

Southern California on Its Way Back to Health

SoCal may not return to true health until 2013-2014, but institutional buyers are bidding for quality properties.

Jamboree Awarded Grant for Special Needs Services

Irvine, Calif.–Jamboree Housing Corporation received a $15,000 grant as part of CSH’s Assuring Quality Initiative to assist residents living with permanent mental illness and to help end homelessness.