Millennials Driving Real Estate Trends
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1_LBBJ_Sept27_2016version_LBBJ 9/25/16 4:48 AM Page 1 September 27-October 10, 2016 Long Beach’s Newsmagazine www.lbbizjournal.com Long Beach Bands That ‘Made It’ Coldwell Banker Commercial President: And How The City Embraced Them Millennials Driving Real Estate Trends I I By BRANDON RICHARDSON By SAMANTHA MEHLINGER growth, but we’re taking nothing ually decreasing – office, indus- Staff Writer Senior Writer for granted given the volatility in trial, retail.” the market,” he said. “But if you The multifamily market has “ think Long Beach’s roots in the OC punk scene, the Sublime oldwell Banker Commer- look at all the indicators in terms been particularly strong among I backyard parties, the riots they had at Fender’s Ballroom, the C cial recently held its west- of commercial real estate across commercial markets, with increas- noise complaints at Bogart’s, some of the punk shows and some of ern regional conference at the the board, supply has been grad- (Please Continue To Page 10) the violence and drunkenness and neighborhood issues that spilled Queen Mary in Long Beach. out of the Foothill, I think that the city looked at music as something President and Chief Operating that was a component in problems,” Rand Foster said. Officer Fred Schmidt was in town Foster has been an advocate for music in Long Beach for more than for the event and gave the Busi- two decades. He opened ness Journal insights into na- Fingerprints record tional trends in commercial real store on 2nd Street in estate. As the company’s leader, Belmont Shore in 1992, Schmidt oversees more than 200 and relocated it to 4th offices in 43 countries. Street downtown several “The best way to assess it is years ago. Over the we’re looking at slow, steady course of the last decade, he said he has seen a shift in the city’s WeWork Latest Pictured at Coldwell Banker Commercial’s (CBC) western regional conference aboard the Queen Mary are, from left: Fred Schmidt, president and COO of CBC; Becky opinion of music, which Firm To Catch Blair, president and principal of CBC BLAIR WESTMAC in Long Beach; Tim Macker, he attributes to a change president of CBC WESTMAC based in Los Angeles; and T.C. Macker, managing di- in leadership, as well as The Creative Wave rector of CBC WESTMAC. (Photograph by the Business Journal’s Larry Duncan) several positive exam- ples of music being a Hitting Long Beach good economic driver. Duane Kenagy Steps In As Port Of Through his work or- I ganizing music festi- By BRANDON RICHARDSON, Long Beach’s Interim Chief Executive vals, Foster has played a Staff Writer, and EORGE CONOMIDES I pointment was effective on Mon- Long Beach Business role in the city’s chang- G E , Publisher By SAMANTHA MEHLINGER Journal Photograph day,” Kenagy told the Business (Please Continue To Page 24) Senior Writer I nside the newly leased space Journal. “Jon will still be working From Rock Star To Restaurateur: covering two floors at 100 uane Kenagy, who has and supporting and helping with West Broadway in Downtown D served as capital programs the transition through October 28.” Chris Reece Of Pike Bar On 4th Long Beach, Mayor Robert Garcia lead at the Port of Long Beach since Although Slangerup is leaving, last week welcomed WeWork, a 2014, officially became the port’s some policies and ideas he has been creative workspace provider, interim CEO on September 26. The pursuing will continue forward, Ke- I By BRANDON RICHARDSON whose mission is “To create a Long Beach Board of Harbor Com- nagy said. Two such ideas are En- Staff Writer world where people work to make missioners selected Kenagy to lead ergy Island, a plan for the port to a life, not just a living.” the port while they conduct a global generate its own clean energy, and even days a week, every pint of beer served at the Pike Restau- The company, which launched search for a permanent CEO. developing an inland port for better S rant & Bar is presented in a glass decorated with a hat-wear- in 2010 and now provides creative Current CEO Jon Slangerup, flow of goods to and from the In- ing, cigarette-smoking, martini-swilling skeleton – the unmistakable workspace to almost 65,000 mem- who will remain on with the port land Empire and inner U.S. “It’s logo of longtime punk rockers Social Distortion. bers around the world, physically until the end of October, announced going to be a pleasure to work with (Please Continue To Page 18) and virtually, is the latest firm to his resignation earlier in Septem- the team to continue to carry out recognize the growing creative ber. He is leaving to head up Mxi those initiatives and I’m quite con- sector sweeping Long Beach. It’s Technologies, a Canadian aviation fident that we’ll continue to make website says this about the city: firm, as chairman and CEO. progress on all fronts,” Kenagy said. “With six million yearly visitors, “Jon is still around. He is still (Please Continue To Page 9) Long Beach is one of the coolest providing support, but the board (Please Continue To Page 16) wanted a clean transition so the ap- During his time as Social Distortion’s drummer, Long Beach restaurateur Local Artists Profiled For Arts Month Chris Reece recorded two Gold records: “Social Distortion” and “Somewhere Between Heaven and I Hell.” Reece has the awards hanging By SAMANTHA MEHLINGER, Senior Writer in his Long Beach home. (Photo by the Business Journal’s Larry Duncan) n recognition of Long Beach Arts Month, the Business Journal is I profiling six local artists – a cross section of the wide array of artis- tic talent found in the Long Beach area. Many come from other parts of the state and nation, but all have chosen to forge their careers in Long Beach, a city they say has a diverse and growing arts community. The artists profiled here represent many different backgrounds and fields within the arts. They are: Tyler Dilts, novelist; Latonya Kitchen, actor; Ron Leiter, metal sculptor; Julian Sanz, dancer; Katie Stubble- field, painter; and Donovan Vim Crony, filmmaker and illustrator. 2016 JetBlue Long Beach Focus On The Arts Begins On Page 17; Artist Profiles On Pages 20 & 22 Marathon & Half Marathon Program 20 Pages in the Center of this edition PERMIT NO. 447 NO. PERMIT Los Angeles, CA Angeles, Los 562/988-1222 • www.lbbizjournal.com • 562/988-1222 Three For Free: PAID Signal Hill, CA 90755-2139 CA Hill, Signal U.S. POSTAGE U.S. 2599 E. 28th Street, Suite 212 Suite Street, 28th E. 2599 Long Beach Business Journal Digital Edition, Monday Morning Coffee and NewsFlash – PRSRT STD PRSRT Long Beach Business Journal Business Beach Long Sign up at: www.lbbizjournal.com 1_LBBJ_Sept27_2016version_LBBJ 9/24/16 9:09 PM Page 2 This Edition’s Advertisers Aquarium of the Pacific....................................8 & M17 Inside This Issue Belmont Shore Business Association........................M5 Big E Pizza...................................................................11 Boulevard Cadillac......................................................10 5 Newswatch Buono’s Pizzeria .........................................................12 • Longtime Airport Tenant AirFlite Sold To Ross Aviation Bustamante, George/Warshauer, Steve/ • Another Delay For U.S. Customs Facility Feasibility Study Jacques, Cameron – CBC BLAIR WESTMAC .............13 • Queen Mary Task Force Presents Final Report To City Council C2O...........................................................................M9 CSUDH South Bay Economic Forecast Conference.......7 • City Council Nixes Rental Property Inspection Fee Increase Catalina Express .........................................................11 • Retail Project Postponed Due To Not Enough Commissioners City of Long Beach, Department of • Two More Starbucks Okay, But Small Businesses Impacted Financial Management, Purchasing Division............8 • Duane Kenagy Named Interim CEO For Port, from Pg 1 Coldwell Banker Commercial BLAIR WESTMAC ...........3 Florastor .................................................................M17 • Coldwell Banker President Discusses Real Estate Trends, from Pg 1 Grounds Bakery & Café ................................................2 • Amazon@TheBeach Now Open At University’s Book Store Home Care Specialists..................................................5 INCO Commercial.........................................................9 12 People In The News International City Bank ................................................6 International City Theatre..........................................12 Irvine-Parker, Barbara – CB Coastal Alliance ..............13 Perspectives JetBlue..............................................................3 & M20 14 Kafe Neo.......................................................................5 • Inside City Hall By Gerrie Schipske LB Walker Automotive .................................................2 • Small Business Dollars & Sense By Ben Alvarado Long Beach Ace Hardware ...........................................9 • Effective Leadership By Mick Ukleja Long Beach Airport ...................................................M9 • Realty Views By Terry Ross Long Beach Ballet.......................................................23 Long Beach Camerata Singers....................................19 • Third Sector Report By Jeffrey Wilcox Long Beach Convention & Entertainment Center.....M2 Long Beach Museum of Art........................................25 Long Beach Symphony ...............................................30 16 WeWork Long Beach Water Department .................................10 Luke Hiller,