The value of Los Angeles offices collapsed after a pandemic shift, falling as much as 60%. However, prices have hit bottom and could rebound.
Shannon remarked, 'I think we're scraping the bottom...we're just at the inflection point. When you know where the bottom is, then capital starts to step in.'
With 90% of buyers being office users and private investors, the market transition towards a recovery looks promising after a downturn of 12-18 months.
Elliott pointed out, 'Office real estate suffered more than any sector...there's too much that we don't need.' highlighting the market's current overabundance.
#los-angeles-real-estate #office-market #remote-work-impact #investment-opportunities #market-recovery
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