David Josker, Amanda Spangler and Ricardo Pacheco

Colliers is definitely on the rise in Los Angeles. 

In previous years, the brokerage would handle big projects intermittently and be considered middle of the pack. But the company hired a few dozen more brokers and finance experts, enabling Colliers over the past year and a half to grab a significant amount of landmark and large-scale assignments with millions of square feet in key submarkets.

In the most notable example, Colliers and Hilco in May were awarded the listing assignment of Oceanwide Plaza, the massive luxury development in Downtown L.A. that stalled midway through construction more than five years ago due to financial troubles, and which has garnered international attention after trespassers tagged the structure with graffiti.

“If you rewind 24 months, we had zero market share on leasing and zero market share on property management (in Downtown L.A.),” David Josker, president of the Western U.S. for Colliers, told Commercial Observer. “Now, I would say we’ve got to be ranked in the top three.”

He said Colliers is busier now more than ever in helping clients identify opportunities.

“Because, let’s face it, opportunities were way more visible earlier in the cycle,” Josker said. “And we have seen it as a massive opportunity to pick up market share. I think we picked up more market share [throughout the regio]n in the past 24 months than we did in maybe the prior five years.”

Colliers pins a lot of its recent growth and success to an integrated strategy between its capital markets team and the leasing professionals, and to its larger team of office experts. The firm’s “cross-collaboration” has led to more cross-market partnerships and deal flow, “with L.A. serving as a centerpoint.”

Josker, who previously served in the U.S. Marine Corps, manages the firm’s offices in California and eight other states. In his previous role as president of the Southwestern U.S., the firm doubled its annual revenue in that region and hired more brokers.

“With the new teams we brought in, the amount of activity and collaboration up and down the West Coast is something that we haven’t seen before,” he said. “Our foot’s on the gas.”

Ricardo Pacheco manages the firm’s offices in Los Angeles. He’s credited with leading much of the recent business expansion and new recruiting.

“I think we’re getting a lot more clarity as we move into 2025, both from an interest rate perspective and after knowing how the election plays out,” Pacheco said. “As we get more certainty in terms of what the future holds, it provides the capital with more certainty, as well as tenants that want to reposition.

“We’re already starting to see an uptick in activity, both on the leasing side as well as the capital market side. That will only continue further as that clarity comes into picture and we move into 2025, and people can start to position their portfolios or their needs and navigate the new landscape.”

Amanda Spangler, who runs Colliers’ Orange County and Inland Empire offices, handles the firm’s growth on the industrial side. Spangler is anticipating an increase in activity over the next 12 months, which will significantly bolster the overall market outlook.

“We’re looking to grow and expand those teams, too,” Spangler said. “I can tell you, it’s been a challenging past couple years. But we are gaining momentum, and we’re here to see Q3 and Q4 really spike, and our end sentiment for 2025 is positive.”

She said to expect a lot of construction to be added to the overall industrial market, with vacancies declining, and a rise in investment.

The Federal Reserve lowering interest rates “is a big positive sentiment, especially for capital markets,” she added. “And with capital being deployed, there’s plenty of opportunity out in the Inland Empire for some sales.”