The recent Palisades and Eaton wildfires in Los Angeles have caused immense devastation, making them some of the worst on record. According to the U.S. Geological Survey, over 40,000 acres of land and 12,300 structures have been destroyed by these fires. As a result, more than 200,000 residents have been ordered or warned to evacuate.
While residential real estate has suffered greatly from these disasters across the region, Marcus & Millichap’s special report focused on how commercial real estate has been affected. It is not surprising that there has been an increase in demand for hotels in areas impacted by the fires; occupancy rates have risen by as much as 1
