Western Real Estate Business

SEP 2017

Western Real Estate Business magazine covers the multifamily, retail, office, healthcare, industrial and hospitality sectors in the Western United States.

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C onvenience is a commodity no matter where you go, but that's especially true in Los Angeles, where a 10-mile car ride can mean more than an hour on the road. Work- ers and residents tend to accept this hassle as part of their daily commute. However, it can be an unwelcome ad- justment to those traveling to the area for business or pleasure. The demand for hotels that still provide a worthy experience, decent rooms and the added bonus of being near Los Ange- les International Airport are attracting investors both near and far. D ata center owners are equipping their assets with more capacity while pre- paring for the future of automation, ar- tificial intelligence and processor technology. Data center construction in North America is up 43 percent from 2016, and industry consoli- dation powered a $10 billion surge in merg- ers and acquisitions (M&A;) in the first half of 2017. Meanwhile, cloud leasing activity start- ed shifting to global markets. West Coast mar- kets like Los Angeles and Northern California have returned to normalcy following a wild year for leasing while markets like Phoenix continue to ramp up. Looking ahead, West Coast data center mar- kets are expected to continue to grow in effi- cient, strategic ways. The ViaWest (being acquired by Peak 10) Lone Mountain Data Center in Las Vegas provides secure and compliant colocation, cloud and managed services. HOTEL ACTIVITY NEAR LAX TAKES FLIGHT A slew of new hotel development, redevelopment and sales transactions have taken place recently near Los Angeles International Airport (LAX), the West's busiest sky hub. By Nellie Day see HOTELS, page 78 see DATA CENTERS, page 77 Choice Hotels International entered the California market this past May with the 152-room Cambria Hotel Los Angeles — LAX. It now has five more Southern California locations in development, as well as agreements to develop future hotel properties in Napa (pictured) and Sonoma. THE WEST'S DATA CENTER MARKET CONTINUES CALCULATED GROWTH As consumers turn to their smartphones for everything from streaming video to buying their groceries, the data center industry is stepping up its game throughout the West. By JLL West Coast Brokers Strategies to Perform Due Diligence on a Multi-Property Portfolio page 48 San Diego Market Highlight page 38 page 58 Lending Financial Advice New Day For California Retail page 50 INSIDE THIS ISSUE www.REBusinessOnline.com September 2017 • Volume 15, Issue 1

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