LOS ANGELES-“The office sector will remain depressed as long as unemployment levels remain high,” so says Richard Green, director of the USC Lusk Center for Real Estate and co-author of the 9th annual Casden Southern California Industrial and Office Forecast. The USC Lusk Center for Real Estate’s annual check-up of Southern California’s industrial and office markets produced vastly different bills of health for the two real estate sectors this year.

The findings, which were unveiled Tuesday, signal modest growth for the industrial market, while the office market will remain depressed. “Clouding the office forecast is a shift in the traditional workplace,” Green continues. “Today, cubicles are the norm and concepts such as telecommuting, ‘hoteling’ and office-sharing are becoming more common and having an increasing impact on demand for office space. As a result, the office market may not see rent increases until the overall economy improves.” 

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