LA Commercial Real Estate Sales Plummet Amid Economic Challenges

The commercial property market in Los Angeles County is facing a dramatic downturn, with sales dropping 18.4% since January and a staggering 40% decline in the city itself. This episode explores the factors contributing to this crisis, including inflation and rising interest rates, and discusses the potential legislative impacts on the future of commercial real estate in California. Additionally, we cover Hurricane Milton's threat to over $1 trillion in commercial properties, JLL's acquisition of Raise Commercial Real Estate to enhance digital capabilities, and a new $600 million sustainable financing program launched by Nuveen Green Capital and CDPQ.

Sources:
https://therealdeal.com/la/2024/10/10/commercial-property-sales-in-la-county-spiral-down-18/
https://www.businessinsider.com/hurricane-milton-crashing-into-trillion-worth-of-property-moodys-2024-10
https://www.citybiz.co/article/611704/jll-acquires-raise-commercial-real-estate/
https://esgnews.com/nuveen-green-capital-cdpq-launch-600-million-program-for-sustainable-commercial-real-estate/

Outline:
(00:00:00) Introduction
(00:00:41) Commercial property sales in LA County spiral down 18%
(00:03:11) Hurricane Milton is headed right into $1.1 trillion worth of commercial real estate properties: Moody's
(00:06:08) JLL Acquires Raise Commercial Real Estate
(00:09:48) Nuveen Green Capital, CDPQ Launch $600 Million Program for Sustainable Commercial Real Estate