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Panel Sees Strength in SoCal Market

LOS ANGELES-Los Angeles County is in a strong position to ride out the current economic troubles with little negative effect, according to a panel of experts gathered for a local breakfast seminar series.

By Peter Landau | Updated on March 20, 2002

LOS ANGELES- Los Angeles County is in a strong position to ride out the current economic troubles with little negative effect, according to a panel of experts gathered for a local breakfast seminar series this week at the Century Plaza Hotel.

The event featured three long-time members of the Los Angeles real estate community as panelists: Stanley Moore, CEO of Overton Moore Properties; Ben Reiling, president, Zelman Development Co.; and Richard M. Cannon, CEO of the Watson Land Co.

Moore started the proceedings by proclaiming that Southern California was not suffering through the same recession that has been affecting the country for the last year. He did admit that Los Angeles was experiencing a flat job creation rate, which would not fuel demand for office space in the county. As an example, he said his operations in the South Bay 18 months ago had only six building available compared to 55 buildings available today.

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