The impact of new commercial real estate development and the operations of existing commercial properties on the national economy cannot be overstated. Nationally, this activity has grown to support 9.2 million American jobs and contribute $1.14 trillion to the U.S. gross domestic product in 2019, an increase from 8.3 million jobs and a contribution of $1 trillion to GDP in 2018, according to NAIOP, the Commercial Real Estate Development Association. And nowhere is that more evident than in Los Angeles — and our constantly evolving skyline.
On Feb. 18, we hosted one of the Los Angeles Business Journal’s biggest events: the Commercial Real Estate Awards. Locally, there is much to celebrate — from the brokers who work tireless hours on multimillion-dollar deals to the general contractors, architects and developers who turn visions into reality. These are the professionals who are helping to make L.A. a global city and a leader in commercial real estate.
Hundreds of Los Angeles’ elite real estate professionals attended our annual event, which was held at the Westin Bonaventure Hotel and Suites. We recognized the biggest, best and most notable commercial real estate projects of 2019.
In our Commercial Real Estate Awards supplement, we review the event’s honorees. This impressive and talented group have made key contributions to some of the highest-profile developments in L.A. in the last year.
Prior to our awards dinner, we hosted a Commercial Real Estate Outlook and Trends Panel. Our outstanding panel of experts weighed in on the latest developments and how the L.A. market will be affected this year.
To our sponsors, panelists, and each of the developers, general contractors, architects and brokers involved in the trailblazing projects we honored this year, we salute you and thank you for your contributions to L.A.’s economy — and skyline.
Best regards,
Anna Magzanyan
CEO & Publisher
