The South Bay multifamily market is seeing tremendous investment, thanks to surrounding growth from the Hollywood Park development, the expansion of LAX and port activity. Additionally, more aerospace jobs are coming to the area, creating strong demand. The South Bay, however, has its challenges. The lack of investment product and rising interest rates have pushed some investors out of the market. Michael McKinney is a South Bay expert and recently signed on with CBRE as first VP. We sat down with him for an exclusive interview to talk about the South Bay multifamily market and the forecast for the year ahead.

GlobeSt.com: What are some of the major drivers of the South Bay market?

Michael McKinney: There is so much going on, like the stadium in Inglewood and all of the development that goes with it, the expansion of LAX and there is a resurgence of aerospace jobs coming back into the South Bay. Those are great, higher income jobs. A lot of the Westside is getting so expensive that it is pushing people to the East. There are pockets in the sea areas that are gentrifying as a result.