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.
In September 2024, GM Properties’ brokerage team—Dustin Wheelan, Tyler Portman, and Ben Greer, Vice Presidents of Brokerage—was engaged to sell a ±6,700 SF retail building at 14043 Whittier Blvd. The seller, who had inherited the property through a trust, was motivated to sell quickly and aimed to close by year-end. With just three months to list, secure a buyer, and close escrow, GM Properties needed to act quickly and strategically to meet this deadline.
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.
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.
Starting January 1, 2025, California property owners will need to adapt to SB 1103, a new law introducing comprehensive protections for Qualified Commercial Tenants (QCTs). As a property owner, understanding these regulations is essential for maintaining compliance and fostering strong tenant relationships. GM Properties is here to guide you through these updates and ensure your properties meet the latest legal requirements.
Earlier this year, GM Properties’ Dustin Wheelan, Vice President Brokerage and Tim Frost, Property Manager, were engaged to sell a multi-tenant commercial building located in Colton, California. Comprised of 30 units, the ± 23,676 sf building had a 40% vacancy rate, which was on par with occupancy trends in the area.
In navigating the complex landscape of Americans with Disabilities Act (ADA) compliance, the experienced team at GM Properties is dedicated to safeguarding the interests of property owners, whether managing older or newer buildings. It’s imperative to recognize that although the ADA laws have not changed significantly, the standards and specifications that define how they are enforced have evolved over the years.
Since 2011, GM Properties has provided Trustee Services on behalf of a confidential family trust, which includes nine income beneficiaries across a diverse commercial real estate portfolio totaling $30M in property assets.
In navigating the complex landscape of Americans with Disabilities Act (ADA) compliance, the experienced team at GM Properties is dedicated to safeguarding the interests of property owners, whether managing older or newer buildings. It’s imperative to recognize that although the ADA laws have not changed significantly, the standards and specifications that define how they are enforced have evolved over the years.
Earlier this year, GM Properties was approached by an owner interested in selling two industrial properties in the Pico Rivera area of Southern California. Although the buildings were near each other, they each presented unique challenges.
In January of this year, GM Properties received a referral from a prominent attorney to assist the owner of a single-tenant, NNN property in Fullerton, CA. The property faced challenges, with the long-term tenant consistently paying under-market rent and being tardy with payments. The tenant, an electromagnetic environmental testing company, had occupied a building in a business park since 2007, with common areas overseen by an association.
As trusted brokerage professionals, our team always has its fingers on the pulse of the Southern California market. In recent years, the six different Qualified Opportunity Zones in Lancaster have captivated our attention. It’s a place where investors can benefit from reduced pricing and tax breaks in a burgeoning region where industry is already thriving.
GM Properties has provided Property Management and Leasing services to global private real estate investment management Firm since 2021. The client had acquired a 41,000 sf multi-tenant industrial property in Brea, CA that had been under long-term ownership.
Over the last year and a half, the GM Properties team has seen major shifts in the Southern California insurance landscape for commercial properties. In case you have not been informed of such changes, we’d like to update you and make recommendations about how you can prepare yourself for increasing rates, carrier departures, and broker challenges.
GM Properties has performed Asset Management and Leasing services on behalf of a private real estate investor since 2016. The client owned six industrial properties across Santa Fe Springs, CA that totaled 117,000 sf.
At GM Properties, we manage our clients ‘commercial real estate properties with personalized attention and care. Through value-added programs and superior management expertise, our knowledgeable property management team empowers CRE owners of all types to maximize return on commercial real estate investments from industrial facilities to office spaces and retail centers.
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 2024 Book of Lists published by the Los Angeles Business Journal (LABJ).
We extend our heartfelt congratulations to the exceptional winners of the 2023 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!
GM Properties proudly announces the acquisition of T.F. Merrick Company, Inc., a Long Beach-based commercial and industrial real estate property management firm, effective January 1, 2024. This strategic move not only welcomes new clients but also includes the addition of two experienced employees to the GM Properties team.
We are very excited to announce the launch of our new company branding and website for GM Properties. Celebrating our 60th year in business, this is a milestone that reflects the high level of professionalism and superior service for which we’ve always been valued. Now more than ever, we are focused on our clients and would like to highlight all our core services, some of which have grown over time. With GM Properties, we have everything you need for property management, brokerage sales and leasing, trustee services as well as asset management and net leased management, our two newest service lines.