When the Business Journal first launched its Real Estate Awards a few years ago, it focused on commercial brokers the men and women who are in many ways the most visible members of the profession. And, given the slump in real estate, they were often the only people in the industry who were working.
The economic rebound has changed all that. Office towers are going up again. Architects are busy drawing up plans. The residential market, which had lagged the commercial sector, is back from the brink. In short, the industry is whole again.
And that made it necessary for us to expand our awards, as you can see by the expanded section inside.
We were honored to have so many of L.A.’s leaders in attendance at the Pacific Design Center last week, including Mayor Richard Riordan, SunAmerica founder Eli Broad, Parks Commission Chairman Steve Soboroff, Playa Vista developer Robert Maguire, Arden Realty’s Dick Ziman, and Ed Roski Jr., the man building the new Staples Center sports arena downtown. Their presence was a sure sign, we believe, of the real estate industry’s importance to Los Angeles.