Los Angeles State of the Market Conference

Tue Sep 24, 2024

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Los Angeles State of the Market Conference

Name: Los Angeles State of the Market Conference
Start: 2024-09-24T08:00:00-07:00
End: 2024-09-24T13:00:00-07:00
Location: Casitas

UNCOVERING WHY COMMERCIAL REAL ESTATE IS SO VITAL TO LA’S ECONOMIC FUTURE

Tuesday September 24 2024 @ 8:00 AM PDT

$299.00

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Event Host

Casitas

Nestled in the vibrant neighborhood of Atwater Village, Casitas offers a thoughtful reprieve from the bustling city with a series of 10 revitalized buildings that provide high-volume spaces filled with natural light, private patios with greenery, and activated outdoor amenities. The South Campus, encompassing 80,000 square feet, features a dedicated outdoor park and amenity area that fosters collaborative and innovative endeavors. The reimagined overhead canopy introduces a modern flair and will soon include a local food and beverage option. Architecturally upgraded spaces integrate with outdoor areas through operable doors and windows, with new roofs, skylights, and industrial-style window systems flooding interiors with natural light. Modern concrete wall treatments, sandblasted wood ceilings, and refinished concrete floors create a stylish ambiance, while preserving original industrial doors and artifacts adds historical charm.

The newly constructed 3-story office building at Casitas North Campus blends indoors with the outdoors, featuring natural landscaping and abundant light access. With high-volume spaces ranging from 13'-6" to 31'-0", the building includes private tenant patios and a distinctive pitched roof with custom concrete exterior paneling, creating a modern aesthetic. Expansive windows and skylights illuminate the interiors, while exposed steel structures and wood ceilings add an industrial-chic touch. The campus transformation includes significant renovations, such as creating outdoor amenity spaces, installing state-of-the-art HVAC, roofs, and MEP systems, reprogramming a loading dock for retail use, and building a 40,000 square foot creative media building with an adjacent parking structure.

Current Asking Rates | $3.95/sf/mo nnn (as of 6.2024)

Speakers and Panels

Rachel Freeman

Rachel Freeman serves as the Deputy Mayor of Business and Economic Development under Mayor Karen Bass. For nearly two decades she has been engaged in a broad range of economic development projects with an emphasis on commercial real estate and development. Rachel oversees seven departments totaling over 6,000 employees and a combined budget of over $8 billion: Port of Los Angeles, Los Angeles World Airports, Department of City Planning, Department of Building & Safety, Department of Convention & Tourism Development, Economic & Workforce Development Department, and Department of Cannabis Regulation. She is charged with growing a prosperous economy by creating jobs, attracting investment, increasing tourism and supporting businesses of all sizes through equitable pro-growth strategies. Prior to joining the administration Rachel Freeman served as Senior Vice President, Real Estate for Tejon Ranch Company (NYSE:TRC). Where she oversaw entitlements, land planning, transportation infrastructure, sustainability, legal and other development related activities in the Los Angeles County region, directly managing over 12,000 acres, 19,300 homes and 10M SF of commercial, industrial, parks and other civic uses. Prior to Tejon Ranch Company, she held the position of President & CEO at Capri Retail Services, LLC a subsidiary of Capri Capital Partners, LLC, an SEC registered real estate investment management firm leading entitlements, asset management and supporting acquisition/disposition related initiatives for Southern California, on behalf of major institutional investors. Having spent her career spearheading innovative and impactful real estate projects, Rachel Freeman has led the development efforts for a diverse array of projects including greenfield, mixed-use, multi-family, sustainable and transit-oriented developments across the region. She has most recently served as Co Chair for BizFed’s CEQA, Land Use and Housing Committee, the Board of Directors for Building Industry Association of Southern California's Los Angeles/Ventura Chapter and is an active member of Urban Land Institute’s (“ULI”) Housing Council.

Los Angeles

Deputy Mayor for Business & Economic Development

Rachel Freeman

Deputy Mayor for Business & Economic Development, Los Angeles

Mark Falcone

CEO, Continuum Partners, & Chairman of the Solutions Alameda Coalition

Gregg Hall

Managing Director, SteelWave

Arturo Sneider

CEO, Primestor

Richard Green

Director and Chair, USC Lusk Center for Real Estate

Milan Ratkovich

CDO & EVP, The Ratkovich Company

Chris Tourtellotte

Chris Tourtellotte serves as a Managing Director of LaTerra. Chris is responsible for overseeing the Development group, sourcing and closing new acquisitions, sourcing debt and equity for LaTerra’s projects, and growing LaTerra’s apartment and mixed use development platform, which currently includes over 3,000 apartment units either under construction or in the pipeline. Prior to joining LaTerra, Mr. Tourtellotte spent 7 years at Prudential Global Investment Management (PGIM), a global real estate private equity investment fund manager with over $50 billion of gross assets under management. Most recently at PGIM, Mr. Tourtellotte held the position of Director, overseeing all development activity west of the Mississippi River with over 20 development deals at a total cost basis greater than $1 billion. Prior to Mr. Tourtellotte’s role overseeing West Coast development, he spent 5 years on the West Coast acquisitions team where he worked on closing over $1 billion in acquisitions across all property types (multifamily, office, retail, industrial, and hotels) and all layers of the capital stack (senior debt, subordinate debt, preferred equity and equity). Chris co-founded SnowGlobe Music Festival, which was ultimately acquired by MTV. SnowGlobe is a world-renowned annual music festival (featuring the largest musical acts in the world) drawing over 50,000 attendees over the three day event. Mr. Tourtellotte was responsible for raising the capital, and structuring and negotiating the investment documents prior to the inaugural 2011 festival. Mr. Tourtellotte was selected for Real Estate forum’s 50 under 40 list. Mr. Tourtellotte holds a Bachelors Degree in Business Administration (Cum Laude) with a double concentration (Finance & Accounting) and a minor in Real Property Development from California Polytechnic State University, San Luis Obispo, CA.

LaTerra Development

Managing Director

Chris Tourtellotte

Managing Director, LaTerra Development

Nick Halaris

President, Metros Capital

Justin Chausse

Managing Director, Invesco Real Estate

Nicole Mihalka

Managing Director, JLL

Lee Shapiro

EVP, Director of Retail, Kennedy Wilson

William Gorham

Vice President, Project Development and Partnering, Plenary Group

Geoffrey Moen

Geoffrey Moen is a leader in the affordable housing industry who has been involved in the acquisition, development and financing of more than 4,000 housing units across the country with a value of more than $1 billion. Since 2021, Geoffrey has served as the Director of Development for the Housing Authority of the City of Los Angeles (HACLA), the nation’s second largest housing authority. In his role, he manages a diverse team of real estate development, acquisitions, construction, and finance professionals who are tasked with the transformational redevelopment of large public housing communities using a build first model, acquiring properties directly and through public-private partnerships to create long-term affordable housing for lower-income and unhoused families, and issuing governmental and conduit bonds to finance affordable housing development. Prior to joining HACLA, Geoffrey was the Director of West Coast Production for Standard Communities, one of the nation’s largest owners and developers of affordable housing, where he managed the acquisition and rehabilitation of affordable housing developments across Southern California. Geoffrey also served as the Senior Acquisitions Manager for POAH, a national nonprofit owner and developer of affordable housing, where he sourced and managed acquisitions across the East Coast, Southeastern, and Midwestern United States. Earlier in his career, Geoffrey served as a city planner in New Orleans, Louisiana, where he managed entitlements for major development projects, oversaw the city’s capital improvement plan, and assisted in the development of its first ever Master Plan and a rewrite of the citywide zoning code. Geoffrey holds a bachelor’s degree from the University of Minnesota, a master’s degree in urban planning from the University of Illinois at Chicago, and a master’s degree in public policy, with a focus on public finance and real estate, from Harvard University.

Housing Authority of the City of Los Angeles

Director of Development

Geoffrey Moen

Director of Development, Housing Authority of the City of Los Angeles

Stephen Cheung

Stephen Cheung is the President and Chief Executive Officer of the Los Angeles County Economic Development Corporation (LAEDC) and its subsidiary, the World Trade Center Los Angeles (WTCLA). As CEO of the LAEDC, Mr. Cheung brings together the capabilities of LAEDC’s mission-delivery department areas, including the Institute for Applied Economics (Research), Business Assistance, Industry Cluster Development, Workforce Development, World Trade Center Los Angeles (International), Strategic Relations, Communications & Marketing, and Public Policy, into a single team that delivers the LAEDC’s critically important, public-benefit mission – Reinventing our economy to collaboratively advance growth and prosperity for all. In 2023, Cheung was elevated to President and CEO after serving as Chief Operating Office and Executive Vice President of LAEDC, and continues in his concurrent role as President of World Trade Center Los Angeles, a title he has held since coming to the organization in 2014. Prior to that, Cheung was the Secretary General and Managing Director of International Trade and Foreign Affairs for Los Angeles Mayors Eric Garcetti and Antonio Villaraigosa, and was responsible for managing policies and programs related to the Port of Los Angeles, Los Angeles World Airports, International Affairs, Global Trade and Clean Technology. In these roles, he was the lead organizer for the Mayors’ previous international trade missions to Mexico, China, Korea, Japan, Colombia, Chile and Brazil. Furthermore, Cheung implemented the city’s strategic plan to make Los Angeles a global capital of clean technology by building the infrastructure to support research, development and manufacturing with key partners. Concurrently, Cheung was the Director of International Trade for the Port of Los Angeles – the busiest container port in North America, and was responsible for developing programs to increase trade through the Port of Los Angeles, and facilitate goods movement through the Southern California region. Cheung currently sits on the Board of Advisors of UCLA’s Luskin School of Public Affairs, UCLA Extension, Coro Southern California and Sister Cities of Los Angeles, while also serving on the Los Angeles County Workforce Development Board.

LAEDC (LA Economic Development Corporation)

President & CEO

Stephen Cheung

President & CEO, LAEDC (LA Economic Development Corporation)

Adam Burke

President & CEO, LA Tourism & Convention Board

Jason Foster

President & COO, Destination Crenshaw

Mary Leslie

Mary was elected to serve as chair of the Board of Trustees of California Independent System Operator, a nonprofit that is the only independent electricity grid operator in the West, coordinating the distribution of energy resources for 80% of California and part of Nevada. She was also named to Mayor Karen Bass’s transition advisory team. Ms. Leslie has served as LABC President since 2001, growing the council into one of the most prominent business organizations in the region, working closely with leaders from business, government and the non-profit sectors to enact policies and programs to strengthen Los Angeles’ economic competitiveness and quality of life. Under her leadership, she launched the LABC Institute in 2010 as the 501 (c) 3 research and education arm, attracting local and national funding. Both organizations operate with the core mission, focused on creating cutting edge policy strategies to reduce the region’s housing affordability gap, increase sustainable development, promote international trade, and expand high-paying workforce opportunities. Ms. Leslie currently serves on the LA Sustainability Leadership Council, LA Cleantech Incubator Board of Directors, Los Angeles Conservation Corporation Board of Directors, UCLA Advisory Committee for the Luskin Center for Innovation, and is a member of the Pacific Council of International Policy. She previously served as a Commissioner on the Los Angeles Department of Water and Power Board, Advisory Committees of L.A. Family Housing the California Women’s Law Center and the LA2028 Olympic Bid Committee. In her previous role as Deputy Mayor for the City of Los Angeles under Mayor Richard Riordan, Ms. Leslie was responsible for the Mayor’s Business Development programs. Prior to joining the Riordan Administration, she was Deputy Director of the U.S. Small Business Administration (SBA), where she oversaw the Northridge Earthquake relief dollars for Los Angeles as part of her portfolio of lending and education programs for SBA Director Erskine Bowles. She also served as the Executive Director of the California Economic Development Commission, overseeing policy development and trade missions for California business. Ms. Leslie was also President Clinton’s California Finance Director in his successful 1992 race for President. Ms. Leslie received her Bachelor’s degree from the University of Santa Clara, holds a Master’s degree in Public Administration from the University of Southern California, and attended the Executive Management Program at the UCLA Anderson School of Management.

LA Business Council

President

Mary Leslie

President, LA Business Council

Eli Lipmen

Executive Director, Move LA

Moderator

Talar Berberian

Partner, Thompson Coburn

Moderator

Joe Gubic

Partner, Citrin Cooperman

Moderator

Elizabeth Wilgenburg

Partner, Allen Matkins

Moderator

Brian Kang

Partner, Greenberg Glusker

Remarks

Heidi Henderson

EVP, Engineered Tax Services

Venue

Casitas
3333 Casitas Avenue
Los Angeles, CA 90039

Parking Information:

Onsite parking in parking structure adjacent to the North Building at 3433 Casitas Ave

Get Directions

Agenda

Time	Activity
8:00 AM 9:00 AM	Networking, Coffee & Breakfast
9:00 AM 9:45 AM	Digesting Today’s Economy What Makes This Cycle Different Than The Last? What Can We Expect Next Cycle?
9:45 AM 10:30 AM	Assessing the State of Infrastructure in LA Ensuring The Well-Being of The LA Community & Sustaining Economic Growth With Major Improvements In Infrastructure
10:30 AM 10:45 AM	Quick Break
10:45 AM 11:30 AM	Tourism Has The Power To Invigorate The Local Economy Tourism Influencing The Growth of CRE, Boosting Commercial Property Values & Demand
11:30 AM 12:15 PM	Exploring The Boom Blocks Neighborhood Revitalization Providing Opportunity & A Chance To Create, Underwrite, Or Invest In The Next New District
12:15 PM 1:15 PM	Lunch & Networking
1:15 PM 2:00 PM	Transportation & Transit-Oriented Development Enhancing The Local Economy Providing Better Mobility, Connectivity & Accessibility To The Entire Region
2:00 PM 2:45 PM	Transforming Los Angeles’ Economic Future Exploring Goals, Policies, Programs that Frame the City’s Short-Term & Long-Term Priorities And Uncovering Opportunities For Inclusive Growth in LA’s CRE Market
2:45 PM 3:30 PM	More Networking!

Why You Won't Want To Miss This CRE Deal-Making Conference:

What You'll Learn From Commercial Real Estate Leaders At This Event:

Given the current economic conditions, what negotiation and deal-making strategies are proving effective for investors in the Los Angeles commercial real estate market?
What are the short-term and long-term social and economic impacts on LA’s commercial real estate market?
In light of a downturn in the economy, how does LA compare to other major cities across the U.S.?
How are high interest rates and other economic headwinds affecting city development and expansion operations?
How can developing mixed-use properties help tenants in communities that are suffering due to the recent downturn?
How are developers working to transform neighborhoods? Does transitioning properties from a single sector asset to a mixed-use site work?
When looking at the two-year and five-year horizon for a neighborhood, what are the things to look for to determine whether the neighborhood is worth investing in?
Which particular submarkets within Los Angeles are seeing growth or stability despite economic challenges, and what features contribute to their attractiveness to investors?
What development projects will have the greatest impact on residents and tourists in Los Angeles?
What will be the economic ripple effect of redevelopment projects on the local and regional economy?
How are civic organizations and commercial real estate leaders preparing for the upcoming Olympics in 2028?
What is in the plans to expand the LA Convention Center before 2028?
With a reimagined LAX airport on the horizon, featuring expansions and improvements, how will this affect the local economy and travelers coming to and from the city?

Notable Properties & Projects:

Casitas: 3333 Casitas Avenue, Los Angeles CA 90039: Nestled in the vibrant neighborhood of Atwater Village, Casitas offers a thoughtful reprieve from the bustling city with a series of 10 revitalized buildings that provide high-volume spaces filled with natural light, private patios with greenery, and activated outdoor amenities. The South Campus, encompassing 80,000 square feet, features a dedicated outdoor park and amenity area that fosters collaborative and innovative endeavors. The reimagined overhead canopy introduces a modern flair and will soon include a local food and beverage option. Architecturally upgraded spaces integrate with outdoor areas through operable doors and windows, with new roofs, skylights, and industrial-style window systems flooding interiors with natural light. Modern concrete wall treatments, sandblasted wood ceilings, and refinished concrete floors create a stylish ambiance, while preserving original industrial doors and artifacts adds historical charm. The newly constructed 3-story office building at Casitas North Campus blends indoors with the outdoors, featuring natural landscaping and abundant light access. With high-volume spaces ranging from 13'-6" to 31'-0", the building includes private tenant patios and a distinctive pitched roof with custom concrete exterior paneling, creating a modern aesthetic. Expansive windows and skylights illuminate the interiors, while exposed steel structures and wood ceilings add an industrial-chic touch. The campus transformation includes significant renovations, such as creating outdoor amenity spaces, installing state-of-the-art HVAC, roofs, and MEP systems, reprogramming a loading dock for retail use, and building a 40,000 square foot creative media building with an adjacent parking structure. Current Asking Rates | $3.95/sf/mo nnn (as of 6.2024), SteelWave

How You'll Do More Business From Attending This Summit: Join industry leaders as they discuss uncovering opportunities and risks in Los Angeles’ CRE market, what makes this cycle different from the last and what LA’s economy in the near and far future will look like. Hear more about strategizing for the years to come, goals, policies and programs that frame the city’s short-term and long-term priorities.

To Read Before Attending:

LA City Planning: Chapter 7 Economic Development --- Goals: A vibrant economically revitalized City, A City with land appropriately and sufficiently designated to sustain a robust commercial and industrial base, A City with thriving and expanding businesses, A City able to attract and maintain new land uses and businesses, A City with a highly qualified labor force, A fiscally stable City, A range of housing opportunities in the City, A distribution of economic opportunity throughout the City

Who You'll Network With At This Discussion: Owners, developers, investors, architects, construction, designers, brokers, leasing agents, tenants, lawyers, financial institutions, civic organizations and government officials.

Why You Should Attend This Session: Bisnow events bring together the biggest power players in the industry to identify opportunities, build your network and expand your business. With the largest audience of commercial real estate professionals in the world, no one knows how to help your business more than us.

For questions, recommendations, comments or press inquiries please email our event producer, Samantha D'Angelo at samantha.dangelo@bisnow.com. To request disability-related accommodations, please contact thea.parkert@bisnow.com no later than seven business days prior to the event.

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