Exclusive Q&A: Lee & Associates Principal On The Action In the 818
The Valley is the place to be, according to some industry experts, and Lee & Associates principal Jay Rubin says the Warner Center is one of the reasons people should be eyeing the area. We caught up with Jay to discuss what's going on in the San Fernando Valley—the focus, with a particular emphasis on recent and future developments in Burbank, of Bisnow's Future of the 818 event Sept. 14.
Jay is pictured above with his sons, Bryce and Shayne, and below with the boys and his wife, Teresa.
Bisnow: How did you first get involved in the industry?
Jay Rubin: I have always had a lot of interest in real estate, putting the puzzle together of best use, optimizing investments, marketing and sales. The commercial real estate industry never has a dull moment and is multi-faceted. Growing up in Michigan, the landscape was much different than the LA real estate market with all the numerous submarkets and understanding the differences and complexities of each. I spent time while I was obtaining my licensing touring the markets and trying to understand the intricacies. Having no existing relationships in the business, I reached out to active brokerages and asked if they would provide me with an informative interview. From that process, I was offered a few opportunities and started my career at Charles Dunn in their Warner Center office.
Bisnow: Why is the Valley booming?
Jay: The Valley is booming due to a number of exciting developments and the evolution of the LA market. As many Westside Los Angeles neighborhoods have hit record prices in both commercial and residential, the population has been pushed to more affordable areas. Redevelopment and urban infill have improved the quality of life and increased the demographics throughout. The drive for live/work to improve the quality of life and commute times has played a theoretical role in this. As the younger demographics have families and search for more economical, safe and quality schools, the Valley boom is reborn.
Bisnow: What are some of the developments you're most excited about in the 818 area code?
Jay: Warner Center has many exciting developments coming online. The old Daily News site on Oxnard Street and Canoga Avenue is set to break ground to add an additional 380 luxury multifamily units. The proposed development on 6041 Variel Ave offering 274 units and the future of the Pratt Whitney sites [are among other exciting developments].
Bisnow: What do you find most rewarding about your work?
Jay: My clients, [and] the opportunity to work with so many enthusiastic people who love what they do and are passionate about their business. I am fortunate to be able to be in business with so many wonderful people.
Bisnow: What do you like to do in your spare time outside of the office?
Jay: Family. With two young boys ages 4 and 5, most of my free time is spent with them and my wife of eight years. We love to be active, going to the beach, swimming, hiking and traveling.
Hear more from Jay and our other all-star panelists at Bisnow's Future of the 818 event at 7:30am Sept. 14 at the Connexion Burbank.