The spending is also likely to further squeeze materials and commodities that are already in short supply, as well as labor.
The former Corrigan Tower was transformed from a midcentury office building to a 150-unit class-A multifamily building with ground-floor retail and a rooftop pool, now called 1900 Pacific Residences.
CBRE predicts national retail sales will grow 8.4% this holiday season, and Southern California is set to benefit.
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