Thursday, December 18, 2014

Roll Real Estate Development broke ground on CrossRoads Business Park

Roll Real Estate Development broke ground on CrossRoads Business Park. The 80-acre park will offer build-to-suit and spec office, retail and light industrial facilties. Parcels range from 1 to 16 acres, and are now available for sale or lease. 

CrossRoads Business Park offers businesses a location in one of the most sought-after areas of Bakersfield, with maximum visibility and local access to consumers. The park is adjacent to numerous retailers and servicers including Sam’s Club, Walmart, Kohls, Home Depot and Cintas. 

Crossroads Business Park - Roll Real Estate

Sunday, November 2, 2014

Local rental market remains tight -

Local rental market remains tight -

Friday, Oct 31 2014 06:11 PM

Local rental market remains tight

BY JOHN COX The Bakersfield Californian
The upshot of Bakersfield's rental market these days is "slow and steady," which is good for both investors and renters.
Compared with neighboring communities, Bakersfield rental properties are affordable to buy into, there's high demand and rents are reachable for the average person.
The only problem for renters is it can sometimes be hard to find a place. But that may be changing in the next year or so as more apartments are built.
Rent prices haven't jumped here as much as they have recently in Los Angeles and Fresno counties, even though industry data show their markets aren't as tight as Bakersfield's.
Property manager Darren Powers said more people are moving to Bakersfield, it's relatively inexpensive to invest in multifamily housing locally and landlords understand renters here can't pay steep price hikes.
"The rank and file can't afford higher rents, and we're sensitive to that," said the owner of Atco Property Management Inc. on H Street.
Novato-based RealFacts reported Bakersfield's third-quarter apartment vacancy rate, 2.3 percent, was the lowest in at least two years. It compared favorably with Fresno County's 4.2 percent in the third quarter, and L.A. County's 5.4 percent.
At the same time, RealFacts said, Bakersfield's average apartment rents have increased only 1.7 percent in the last year to reach $949 per month. That increase was significantly less than Fresno County's (up 4.9 percent at $855) and L.A. County's (6.1 percent, $1,939).
These and other conditions have made Bakersfield the sixth-best rental market in the West for investors, just after Los Angeles and before Fresno, according to a second-quarter ranking by Seattle-based All Property Management.
The company noted Bakersfield's solid performance in terms of vacancies, increasing property values and job growth.
But the city's strongest suit, All Property CEO Jacob Colker said by email, was its capitalization rate, defined as a property's net operating income divided by its cost. The city's second-quarter capitalization rate of 9.34 percent was the highest among all other cities in the company's top 13 in the West.
Marc A. Thurston, senior vice president at Newmark Grubb ASU & Associates, said he has been "pleasantly surprised" at the strength of the local rental market despite the recent addition of 340 apartment units.
But he added that an additional 742 apartment units are scheduled to open over about the next year.
"The fourth quarter and first quarter 2015 will be interesting to watch as we will see how deep the demand for rentals is," he wrote in an email.
Bakersfield real estate appraiser Gary Crabtree, who was recently hired by city government to study the local apartment market, said one reason the rental market remains tight is that investors who bought single-family homes as rental properties have begun to sell to owner-occupants.
Still, he predicted a shift toward even more local rental activity. Interest rates are poised to rise, he noted, and families' disposable incomes are declining. Both would make it harder for people to buy homes of their own, he said.

Friday, May 30, 2014



Friday, May 16, 2014

Wednesday, April 16, 2014

Friday, February 28, 2014

Kern's Economy & Quality of Life | By The Numbers | State of the County 2014 - YouTube

Kern's Economy & Quality of Life | By The Numbers | State of the County 2014 - YouTube

"Kern County is larger than Connecticut, Rhode Island, and Delaware COMBINED"

"Kern County is #1 in California for 10 - year job growth and personal income growth"

"The Central Valley contains about 1% of the nation's Farmland, but produces 25% of its food supply"

"In 2012, Kern County was home to 78% of California's active oil wells and produced 71.6% of California's total oil and 63.4% of California's net gas production"