California City Scoop: Los Angeles

Firms in Focus: Morley Builders 3300 Oak Park Blvd., Santa Monica

President: Charles Muttillo

2013 Revenue: $366 Million

Year Founded: 1947

What's New: Work is under way on the $95-million Blossom Plaza project in L.A.’s Chinatown district. The five-story residential and retail complex is scheduled for completion in 2016.

City Grill

John Tipton, Partner
Allen Matkins

In the January 2015 installment of the Allen Matkins/UCLA Anderson Forecast Commercial Real Estate Survey, "our panelists expressed continued optimism about growth through 2017 across all product types and submarkets," Tipton says. In the office market, 51% of panelists indicated they expect to begin a new office development project in the next 12 months, with 35% planning more than one development. "In industrial markets, fully 70% of our panelists intend [to begin] new development projects within the next 12 months," Tipton says.