View from the Top: CRE’s Transformative Time Has More Runway
Connect Los Angeles’ Industry Leaders: A View from the Top panel was moderated by Kidder Mathews’ Robert G. Thornburgh. It featured a group of industry leaders – both advisory and principals – who talked about the state of the market, economic forces, technology and where the Los Angeles and Global markets are headed.
The standing-room-only crowd of more than 500 at this year’s Connect LA conference in DTLA heard a wide-ranging and frequently thought-provoking conversation among commercial real estate’s leaders. Thornburgh started the discussion by noting that leaders in CRE in today’s transformative environment must push innovation. He says that means pushing antiquated real estate and design, while pushing professionals in ways they’ve not been pushed before.
Marcus & Millichap’s Hessam Nadji, notes he is frequently asked what inning he thinks the industry is in, and when does he expect the next recession. He opines if it really matters. “In my viewpoint, it really doesn’t matter,” he says. When he takes stock of the most successful clients the real estate investment brokerage firm has worked with over the decades, the common denominator was most investors were not genius market-timers but their success was because “they bought the right asset for the right reason, and they had a business plan and a concept around what they wanted to do with that investment. And they didn’t over leverage it, so whatever the market brought in terms of a recession or downturn, they were able to withstand.”