Industry Faces Risks Amid Uneven Recovery

LOS ANGELES-Commercial real estate markets have made progress, but unemployment, debt levels and other factors cloud the picture for recovery, according to speakers at the 2011 ICSC/LAMA Capital MarketPlace West Conference this week at the Skirball Cultural Center. The conference brought together capital providers and commercial property owners for an in-depth look at the state of the markets, their views on where the economy is heading and how economic factors will play out in the commercial real estate world.

Opening speaker Hessam Nadji, senior vice president and managing director of research and advisory services at Marcus & Millichap, outlined progress in the commercial real estate markets in what was a generally optimistic assessment of the industry’s prospects. Although Nadji pointed out that “we are still on shaky ground,” in terms of the economy, he said that there have nonetheless been significant improvements. “We have lived through major events. It’s no wonder we are dealing with what are dealing with,” Nadji said.