LOS ANGELES—“After lagging behind for a few years, Los Angelescommercial real estate is finally catching up with the Bay area,”according to a video report produced by AllenMatkins and UCLA Anderson. In the videoreport, which GlobeSt.com has exclusively, industry experts discussthe Los Angeles market across the office,industrial and multifamilysectors, and agree that the three-year outlook is strong.

The information in the video is commentary about a recentsurvey conducted by UCLA Anderson and Allen Matkinsthat showed Southern California new construction would remainstrong through 2017. In Los Angeles, this new construction isconcentrated in Downtown L.A, according to the video, as well asHollywood, according to a recent interview with JohnTipton, Allen Matkins attorney.

According to experts, L.A. has replaced the industries it lostduring the recession, like oil, national banks and aerospaceindustries, with new professional industries, namely entertainmentand technology. These industries are helping to fuel demand in theoffice sector, which had not been built out before the 2008 and2009 recession hit.