Positivity Reigns in Los Angeles Investment

LOS ANGELES—Positivity is still prevailing in the Los Angeles investment market, despite some experts calling 2017 the year of uncertainty. Jodie Poirier, the managing director of CBRE's South Bay office, is speaking on the State of the Industry: Growing the Los Angeles Market in a Year of Uncertainty panel on April 25, but says that her Los Angeles market outlook remains positive.

“I would not coin 2017 as a year of uncertainty,” Poirier tells GlobeSt.com. “Overall, activity was quite strong in the first quarter, and I sensed a bit of a post-election uptick in activity; however, as far as the rest of the year goes, tax cuts and infrastructure spending would boost tenant demand, while any trade conflicts would negatively affect economic activity.”

Poirier instead says that activity in the Los Angeles market is expected to be strong this year, and the performance in the first quarter supports a healthy and active year. “Our Regional Director of Research and Analysis, Petra Durnin, and I agree that the short-term outlook is positive,” she adds. “Los Angeles is still very healthy with strong market fundamentals. Tenant demand remains diverse and rents continue to appreciate in most submarkets. The Westside continues to be the most robust submarket, driven by tech and media activity, but El Segundo has emerged as a viable tech and media center. This past quarter, investment activity trended upward with a substantial amount of interest from China and more recently, Germany and Norway.

Poirier will speak on the panel with Adam P. Christofferson, SVP of the Southern California division of Marcus & Millichap, and Jason Pendergist, president of consumer & commercial banking at Luther Burbank Savings. James Malone, VP of leasing at Brookfield Property Partners, will moderate the panel. Poirier is looking forward to discussing the diversity in the Los Angeles market and how each of the panelist's respective markets is performing differently. “I look forward to hearing what others are seeing and experiencing in their particular markets and sectors,” says Poirier. “Los Angeles is such a diverse and dynamic market, so I think it will be interesting to hear the various points of view.”

LOS ANGELES—Positivity is still prevailing in the Los Angeles investment market, despite some experts calling 2017 the year of uncertainty. Jodie Poirier, the managing director of CBRE's South Bay office, is speaking on the State of the Industry: Growing the Los Angeles Market in a Year of Uncertainty panel on April 25, but says that her Los Angeles market outlook remains positive.

“I would not coin 2017 as a year of uncertainty,” Poirier tells GlobeSt.com. “Overall, activity was quite strong in the first quarter, and I sensed a bit of a post-election uptick in activity; however, as far as the rest of the year goes, tax cuts and infrastructure spending would boost tenant demand, while any trade conflicts would negatively affect economic activity.”

Poirier instead says that activity in the Los Angeles market is expected to be strong this year, and the performance in the first quarter supports a healthy and active year. “Our Regional Director of Research and Analysis, Petra Durnin, and I agree that the short-term outlook is positive,” she adds. “Los Angeles is still very healthy with strong market fundamentals. Tenant demand remains diverse and rents continue to appreciate in most submarkets. The Westside continues to be the most robust submarket, driven by tech and media activity, but El Segundo has emerged as a viable tech and media center. This past quarter, investment activity trended upward with a substantial amount of interest from China and more recently, Germany and Norway.

Poirier will speak on the panel with Adam P. Christofferson, SVP of the Southern California division of Marcus & Millichap, and Jason Pendergist, president of consumer & commercial banking at Luther Burbank Savings. James Malone, VP of leasing at Brookfield Property Partners, will moderate the panel. Poirier is looking forward to discussing the diversity in the Los Angeles market and how each of the panelist's respective markets is performing differently. “I look forward to hearing what others are seeing and experiencing in their particular markets and sectors,” says Poirier. “Los Angeles is such a diverse and dynamic market, so I think it will be interesting to hear the various points of view.”