August 2021 – Office Investment in LA Surpasses NY
Monthly sales volume from 2020 to 2021 has increased for Hotels, Self-Storage, Multi-Family and Property Portfolios.
Comparatively, the LA Office Market had average monthly investment in 2021 of $410 million, compared to NY which had $305 million. This is quite a reversal considering that in 2019 NY had average monthly sales volume of $1.05 billion, compared to LA, which had $741 million.
The level of investment in the NY Commercial Real Estate Markets remains stalled, particularly for office and multi-family assets. The industrial and retail markets are making there way back to 2020 levels of monthly sales volume, but investors remain cautious about office and multi-family assets.
The COVID-19 Pandemic and its re-emerging Delta Variant continues to push investors to the sideline. The uncertainty on the geo-political front has also exacerbated the appetite of investors.
Market participants eagerly await the true recovery, but more time is needed to steady the ship. Review for yourself the trends impacting the NY and LA markets by reading our series of August 2021 Publications.
August 2021 Monthly Publications
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