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Rents are expected to climb again in Los Angeles in 2020 across commercial real estate asset classes. According to the 2020 market forecast from Avison Young, Los Angeles will continue to have record-low unemployment this year, which will fuel industry growth and demand for real estate across asset classes.

“At 4%, Los Angeles’ unemployment is at an all-time low, and many industries are bullish on their plans to expand their footprint,” Christopher K. Cooper, principal and managing director of Southern California at Avison Young, tells GlobeSt.com. “General labor force growth from a very diverse L.A. economy has been driving the health of all CRE property sectors, and we believe this trend will not slow in the near term—barring any catastrophic macroeconomic events.”

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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