Los Angeles County is now logging more than 10,000 new coronavirus cases a week and a new mask mandate is in effect for everyone in indoor public spaces, regardless of vaccination status. But LA-area commercial real estate experts say so far these apparent regressions haven’t derailed any of their plans or negatively impacted the flow of people to retail or offices.
“People aren’t really changing direction right now. If they were in the middle of doing an acquisition or thinking about doing an acquisition, I don’t think this is giving them a lot of pause right now,” Banc of California President of Real Estate and Commercial Banking Hamid Hussain told Bisnow.
A lot has changed in a year and a half, Hussain said. The existence of the vaccine and its demonstrated ability to largely protect people from being severely affected by the coronavirus has given people hope they didn’t have in mid-2020, when the virus ground life to a halt on a national scale.
JLL Market Director, Southwest Region Peter Belisle echoed that, noting that across sectors in LA County, no patrons seemed to be dramatically altering their plans to get out of the house.