A new California Senate bill—SB 789—is proposing a statewide Commercial Vacancy Tax that would charge $5 per square foot annually on any unoccupied commercial space. This unprecedented move threatens to burden property owners with steep penalties during a time when many are already navigating prolonged vacancies due to shifting market conditions.
In recent years, energy disclosure laws have become increasingly prevalent across various jurisdictions in Southern California. These regulations aim to promote transparency in energy consumption and encourage improvements in building efficiency. For building owners, understanding and complying with these laws is crucial to avoid potential penalties and to enhance property value.
GM Properties is committed to keeping our clients informed about key trends related to the commercial real estate market in Southern California. Recently, our partner, AIR CRE, held a Town Hall focused on the evolving landscape of commercial property insurance, especially within California.
GM Properties is proud to reflect on a year marked by exceptional growth, significant milestones, and continued commitment to our clients across Southern California.
In property management, small claims disputes are an occasional inevitability, even for those who emphasize proactive tenant relations and meticulous record-keeping. At GM Properties, we typically encounter between 1 and 3 small claims cases annually, with security deposit disputes being the most common. Understanding the intricacies of small claims can empower property owners to protect their interests and handle cases efficiently.
We are excited to announce that GM Properties has once again been recognized for its strength in property management by securing impressive rankings in the prestigious 2025 Book of Lists published by the Los Angeles Business Journal (LABJ).
We extend our heartfelt congratulations to the exceptional winners of the 2024 GM Properties Broker Awards. Your outstanding achievements and unwavering dedication to the business have set a remarkable standard for the firm. Thank you for your commitment to excellence, and may your continued success inspire others. Cheers to a 2024 filled with even greater accomplishments and prosperity. Thank you!
Waste removal poses unique challenges for property owners, especially in multi-tenant industrial spaces where shared waste facilities and varying levels of waste production can create logistical and budgetary concerns. At GM Properties, we understand that effective waste management is key to maintaining clean, compliant, and cost-efficient properties.
Due to new regulations under AB 2992, GM Properties is providing the following information to help you understand its implications. This summary is based on insights from the official California State Legislature website AB 2992, a California Business Properties Association (CBPA) Webinar, and an AIR CRE Town Hall.
In a significant move toward environmental sustainability and public health, California has enacted Assembly Bill 2208 (AB 2208), which mandates the phase-out of fluorescent lighting. Effective January 1, 2025, the sale and distribution of linear fluorescent lamps (LFLs) will be prohibited statewide.