Most equity providers are fairly optimistic about the residential-development sector for the next two to three years and can't really see beyond that, Presidio Capital Partners' Don Faye tells GlobeSt.com.

Majestic's 200,000 square feet of space in the master-planned project represents the largest block of available space in the market, and economic conditions are prompting more development very soon.

This 8.2 million square feet is a 75.6% increase from 2016's total, essentially equivalent to adding an additional Plano office market to the region, says Transwestern's Ryan Tharp in a recent analysis.

Despite the high office vacancy rate in DTLA, investors lined up to buy trophy asset Wedbush Center at 1000 Wilshire for $196 million.