"Sad Day" in LA: CBRE's Corporate Exit Latest Blow to Dented Office Market
Real Estate Partner Ryan Leaderman was interviewed by The Real Deal about CBRE's decision to shift its global headquarters from Los Angeles to Dallas. The move by CBRE, the world's largest real estate services firm, comes at a difficult time for the Los Angeles market, as office leases fell 61 percent during the third quarter of 2020. Mr. Leaderman offered his own reaction to the decision and remarked that it seems to be part of a growing trend.
"It's yet another sad day in the city of Los Angeles," Mr. Leaderman said. "L.A. is devoid of headquarters. Our taxes are high, and our services are not great. It's becoming an issue."