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With the economy’s sputtering restart and COVID-19 resurgence, it remains to be seen how the commercial real estate markets will adjust to post-COVID realities. TPR followed up with International Director at JLL and property investment expert Carl Muhlstein, to discuss the recent re-closure of California businesses and the subsequent impact on the regional real estate market. Citing lengthy and expensive local land use processes, Muhlstein further opines on the barriers to new development in Los Angeles and its implications for the region’s economic recovery:
"There is no sugarcoating what we're all facing. The next normal or hybrid workplace is upon us."
For the full interview, visit The Planning Report.