DISCOVER WHAT'S NEW AND INTERESTING IN OUR BACKYARD

Featured Story

Local CRE Trends

California is the third largest state in the United States and is home to more than 39 million residents. Its most populous cities include Los Angeles, San Diego, San Jose and San Francisco. California boasts one of the most dynamic economies in the world, with growth sectors in technology, entertainment, tourism and manufacturing. California has recently leapfrogged France and Brazil to become the world’s sixth-largest economy, behind only the rest of the U.S., China, Japan, Germany and the United Kingdom.

Renowned as the entertainment capital of the world, the creative economy in the Los Angeles region – including movie/TV production, fashion, visual and performing arts, communication arts, and other creative sectors – generates $38.8 billion in total labor income. Los Angeles is also a manufacturing hub; approximately 350,000 people work in L.A. County’s manufacturing sector, spread across 12,500 establishments, according to the Los Angeles County Economic Development Corporation.

Eleven Fortune 500 companies call Los Angeles County home, including entertainment conglomerate Walt Disney Co., biopharmaceutical company Amgen Inc., and engineering firm Aecom. The area also has the world’s leading trade and logistics infrastructure with the two largest sea ports in America (Los Angeles and Long Beach), the Alameda Corridor rail system and the U.S.’s third most active international cargo airport, LAX.

According to a recent economic update from the Institute for Applied Economics from the Los Angeles County Economic Development Corporation, most industries in the region will add jobs during the next five years, but overall, the strongest job growth will be in service-providing industries such as health services, administrative support, accommodation & food services, and education. The manufacturing, global trade, and entertainment sectors will thrive as the region embraces new and burgeoning industries, such as advanced transportation.

The commercial real estate market in Southern California is expected to remain positive. A growth in online sales and increasing imports from Asia are generating an ever-increasing demand for warehouse space, according to the Summer/Fall 2017 Allen Matkins/UCLA Anderson Forecast California Commercial Real Estate Survey. The industrial space market is expected to continue to be tight during the next three years. The entertainment and tech industries in the Los Angeles region are also growing in response to increasing demand for gaming, streamed content, and television content. The commercial space in the pipelines will most likely not be sufficient to meet the demand, according to the survey.

About Fidelity National Financial

Fidelity National Financial, Inc. (FNF) is currently ranked #375 on the 2020 FORTUNE 500®*, and is among numerous defense, energy, media, hospitality and financial FORTUNE 500®* companies based in the region. Our Southern California-based team of CRE professionals works in all facets of the industry, including power and energy projects, office buildings, industrial parks, multifamily housing, retail properties, government contracts, corporate transactions and more.

Discover what's new and interesting in our backyard in the latest real estate news, provided courtesy of the FNF Newsdesk.

*FORTUNE®” and “FORTUNE 500®” are registered trademarks of Time Inc. Time Inc. is not affiliated with, and does not endorse products or services of, Fidelity National Financial, its subsidiaries, or affiliates.


The Latest Articles From the FNF Newsdesk:

Record high rents: College students struggle to find affordable housing in college towns
Uncertainty around colleges reopening this fall led many students to delay their housing decisions. Now, they are struggling to find a place to live weeks before classes start, according to a survey...

Fed keeps rates at near-zero, says economy has made progress
The Federal Reserve left interest rates alone Wednesday and didn’t give consumers any clues on when they plan to adjust a massive bond-buying program, suggesting officials are still comfortable...

Key 30-year mortgage rate stays low, refinancing window still open
Mortgage rates remain at rock-bottom levels, a bit of financial fallout from a new round of uncertainty about the U.S. economy’s recovery from the COVID-19 pandemic. The average rate on 30-year...

5 REALTORS® Earn Volunteering Works Grants, Mentorship
Five selfless real estate professionals who are working to expand small-scale charitable efforts in their communities have been chosen as recipients of the National Association of REALTORS®’ 13th...

CFPB Debuts New Tool to Apply for Rental Assistance
Although the eviction moratorium imposed by the Centers for Disease Control and Prevention expires Saturday, struggling housing providers and renters will continue to have many options for aid. To...

Survey: 35% of Students Can’t Afford College Town Rents
| Realtor Magazine Internet Explorer does not currently support REALTOR® Magazine search. IE users, please download Firefox , Chrome , or Edge . July 28,...

Biden Ramps Up Efforts To Protect Infrastructure From Cyberattacks
Share to Facebook Share to Twitter Share to Linkedin The White House announced Wednesday that President Joe Biden signed a new executive order to help further protect the U.S. infrastructure...

What’s Next After A 6% Rise In Best Buy’s Stock?
Share to Facebook Share to Twitter Share to Linkedin Best Buy’s stock (NYSE: BBY), a specialty retailer of consumer electronics, home-office products, entertainment software, appliances, and...

Purchase applications drop to lowest level in over a year
Low interest rates led to a spike in refinances, helping drive up overall mortgage activity last week as purchase applications reached their lowest level in over a year, according to the latest data...

Changemaker Interview: Erin Reilly, Chief Social Impact Officer, Twilio
Share to Facebook Share to Twitter Share to Linkedin Erin Reilly has compiled an amazing record during the last 20+ years of influencing efforts to create positive social impact at leading west...