All tagged market trends

Commercial Brokers International Benchmarking For 2018

The New Year is so inspiring. The holiday season gave us time to re-energize, charge up our batteries and set those benchmarks for 2018!

At Commercial Brokers International we’re excited for 2018 as well. CBI is comprised of a tight knit team. It’s an agency whose team members support one another, making Commercial Brokers International an environment of growth for everyone.

What is on the horizon for Commercial Brokers International this year?

Los Angeles Commercial Real Estate Takes Center Stage

Los Angeles has always been known as a global gateway city for commercial real estate in the United States. But the country's second-largest metropolis has taken the back seat to New York City and San Francisco over the last several years. That is starting to change.

Los Angeles surpassed Manhattan, the country's usual leader, in the first half of the year in deal volume, according to a CBRE report. Though volume decreased year over year in the city, it came in at $13 billion.

Additionally, Los Angeles' downtown is flooded with cranes developing upwards of 100 projects in the area. Plus, the Olympics is coming in 2028, with an expected economic impact of $11 billion, and the city now has two NFL teams after a drought lasting more than two decades.

These developments, as well as an unemployment rate hovering around 4.5%, arguably make Los Angeles one of the most exciting cities in the world to watch in terms of commercial real estate.