Analysts Offer Lowdown On Westside’s High RentsNovember 23, 2015 – In The News
Paul R. Wassgren was featured in the Los Angeles Business Journal article, “Analysts Offer Lowdown On Westside’s High Rents.” Full text can be found in the November 23, 2015, issue, but a synopsis is below.
Price increases for rent have been common on the Westside of Los Angeles which is leaving some wondering whether an end is near to the upward shift.
Fox Rothschild’s Paul Wassgren was asked by the Los Angeles Business Journal to guess where the Westside was in the price cycle and his reply was in the fourth or fifth inning.
New inventory is set to hit the market which could slow down the rise in rents.
Wassgren said that that he has seen a spike in real estate syndication deals, which is an indicator of impending office construction.
“The market starts with residential, and commercial permitting is a longer process, so I think in 24 months we will be seeing more office construction,” said Wassgren