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California  + Retail  | 

Hospitality, Retail Lead DTLA Momentum, DCBID Report Finds

Find out more about Los Angeles CRE and discuss these findings at Connect Los Angeles on June 9th.

DTLA 2016 picked up right where 2015 left off, with strong momentum and positive trends in all sectors of the DTLA market, highlighted by growing demand for residential, office, hotel, and retail space, according to the Downtown Center Business Improvement District’s (DCBID) 2016 Q1 Market Report.

DCBID’s Carol Schatz says residential construction continued its record pace, with 4,000 units due to market in 2016. Rental rates increased 5% over last year, and occupancy rates remained above 90%. Condo prices also continued to rise in advance of new inventory.

The retail vacancy rate dropped 28% since last year with rents holding steady in a market highlighted by new leases and openings.

DTLA’s desirability as a tourist destination continues to rise, and more than 2,500 hotel rooms are under construction to meet that growing demand. The market’s Average Daily Rate now exceeds $200, with RevPAR up nearly 20% over last year.

Connect

Inside The Story

Read More at DCBIDConnect with DCBID’s Schatz

About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

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