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LOS ANGELES-Speakers at a commercial real estate forecast presented recently at the Downtown Breakfast Club expect rising office vacancies and a slow recovery for retail, but the outlook for the multifamily sector is promising. Three veterans of the industry presented their outlooks on the downtown office leasing market, the retail outlook and the prospects for multifamily.

Steve Marcussen, Cushman & Wakefield executive director, told the Breakfast Club audience that, “The current climate of economic uncertainty, exacerbated by looming tax hikes and murky implications of new healthcare legislation for small business, have created a standstill in leasing.” Marcussen said that the verall vacancy rate is 16.5%, including a vacancy factor of 17.5 % for class A buildings, and those percentages are expected to rise.

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