Fitness Tenants in the Era of COVID-19
Before the pandemic, the fitness industry was booming. They were one of the best tenants for retail centers and were among the top five retailer users in Southern California.[1] In 2018, the U.S. health club industry revenue totaled $32.3 billion, and more than 71.5 million U.S. consumers used health clubs, an all-time high.[2] The number of fitness centers in the U.S. increased by 24 percent since 2010 to 111,055 locations, and the figure was expected…
The Impact of Prop 15 on Commercial Real Estate
On November 3, 2020, Californians will decide the fate of Proposition 15. Prop. 15, also known as the Tax on Commercial and Industrial Properties for Educational and Local Government Funding Initiative, asks voters to approve an amendment to the Constitution requiring commercial and industrial businesses to be taxed at market value rather than at purchase price. The market value of properties will be reassessed every three years beginning in fiscal year 2022-2023. This report will…