Report | Los Angeles Banking Outlook - 2015
A combination of contraction during the recession and changing consumer banking habits have caused LA banks to significantly reduce their real estate footprints. In fact, since 2007, many local firms have reduced their office spaces by 10-25 percent in the CBD. Meanwhile, niche equity firms and money management companies have found a welcome home near high net-worth individuals in Westside submarkets, driving up rents up as much as 13 percent year-over-year.See what’s going on in the Los Angeles Banking and Financial Services industry, top trends in the market, and what we expect to see in the coming year.
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