Sandy Sigal, a lifelong resident of the San Fernando Valley and CEO of NewMark Merrill, reflects on the severe impact of the Palisades and Eaton fires. He emphasizes the significance of residential and commercial developers in the recovery process, addressing the loss of housing, infrastructure, and community spaces. With significant relocations expected, Sigal notes the opportunities for developers to repurpose spaces in emerging markets. He has launched NewMark Merrill Hadler Community Partners, focusing on underinvested areas, aiming to collaborate with community leaders for sustainable development.
For retail developers it offers potential opportunities to build wherever people end up going. It's early days, but initial reads have shown some south movement into markets such as the South Bay and Orange County.
Sigal said it's a chance to build up a team with McMihelk at the helm and establish relationships with city and community leaders.
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