The West Coast's tallest building is about to open in Los Angeles, capping off an unprecedented period of new construction, according to the Los Angeles Times. The Wilshire Grand will include offices and a hotel and will stretch to 1,100 feet.
Since 2010, according to real estate data firm CoStar, 42 developments of at least 50,000 square feet have been built — a figure that includes large adaptive reuse projects such as converting an aging warehouse into new offices. An additional 37 large projects are under construction.
The current boom should easily surpass the 1980s, experts say, with foreign investors, particularly Chinese firms, exhibiting an insatiable appetite for property investments in the market.