Leasing

Rent debt improved slightly in September as the economy has continued to improve and add back jobs.

While spending continues to trend behind pre-pandemic levels, the rate of both traffic and spending declines eased in August.

In July, two-thirds of retailers paid only 65% of rent, but most tenants have worked out repayment plans.

However, the pandemic has changed investment trends in Los Angeles, with more capital exiting the state.

Despite the ongoing pandemic, the firm has seen momentum in the retail market with new construction projects.

The pandemic has precipitated a meaningful pullback as tenants revert to the rent-free work from home alternative.

Demand for office space has decreased 20% more during the pandemic than it did during the Great Financial Crisis.

Activity in the sector did decline year-over-year in the second quarter, but when compared to dips in other industries, the legal profession rode high.