BOMA Orange County held its highly anticipated 2021 commercial real estate market outlook with a Virtual Town Hall on January 26. With the impact of COVID-19 on CRE and the economy, industry leaders Cheryl Todd, Principal of Coreland Companies, Perry Schonfeld, Principal and COO of LBA Realty, John Combs, Principal of RiverRock Real Estate Group, and Sen. John Moorlach (RET), Candidate for Orange County Board of Supervisors, recapped 2020 and the impending matters affecting all in the CRE sector.
Combs noted a BOMA survey that stated that 77% of tenants approved of landlords and safety measures taken throughout the pandemic. All agreed that the best operators, those who “show up and perform,” will thrive. With an optimistic but cautious outlook for the coming year, Schonfeld shared that current economics will provide “tremendous opportunity to give life to the built environment” in the coming years.