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There has been an increase in environmental site assessments nationwide. According to data from LightBox, phase 1 site assessments are up 8% for the first quarter, and Los Angeles and Orange County are both ranked among the top markets for site assessment activity. Phase 1 assessments are typically a precursor to CRE transaction activity, and could be an indicator of increasing sales volumes on the horizon.

“Unlike the Great Financial Crisis, which was a credit shock to commercial real estate, the current downturn was triggered by a health crisis,” Dianne Crocker, principal analyst at LightBox, tells GlobeSt.com. “As metros across the U.S. reopen and dealmaking gets back underway, metros like L.A. and Orange County that had strong fundamentals earlier this year are expected to recover faster than weaker metros with less robust interest from investors.”

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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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