L.A. Market Finally Rivals Bay Area

GlobeSt.com (July 25, 2014) "After lagging behind for a few years, Los Angeles commercial real estate is finally catching up with the Bay area,” according to a video report produced by Allen Matkins and UCLA Anderson. In the video report, which GlobeSt.com has exclusively, industry experts discuss the Los Angeles market across the office, industrial and multifamily sectors, and agree that the three-year outlook is strong. In Los Angeles, this new construction is concentrated in Downtown L.A, according to the video, as well as Hollywood, according to a recent interview with John Tipton, Allen Matkins attorney. Job growth has also helped to fuel the demand for new housing in the Los Angeles market and has put upward pressure on rental rates, which inevitably has led developers to launch new multifamily projects to fill supply. “People come here for the opportunities. It is a very open city that welcomes new comers, and so the combination of those will always make it a very attractive place to put down your stake and take your shot," says Tipton.