Los Angeles County commands global attention for its entertainment glitz, health-conscious lifestyles and bustling malls, but its ranking for retail-real-estate investment dropped in the recently released 2019 forecast from influential commercial-real-estate brokerage Marcus & Millichap.
L.A. County dropped eight notches from the 18th most-favorable place to invest in retail real estate, according to the company’s 2019 National Retail Index rankings, which have been released since 1999.
The top two spots were held by the Seattle-Tacoma area and San Francisco out of the 46 metropolitan regions ranked by the annual forecast.
Still, John Chang, a senior vice president of research services for Marcus & Millichap, based in Calabasas, Calif., said that Los Angeles continues to be a good place for retail-real-estate investment. “Los Angeles is performing very well. It has a lot of momentum and strength going for it,” Chang said. “But the pace of growth is slowing down in Los Angeles.”