The recent Palisades and Eaton wildfires in Los Angeles have caused widespread devastation, making them some of the most destructive fires on record. According to recent statistics from the U.S. Geological Survey, over 40,000 acres of land and 12,300 structures have been destroyed by these fires. As a result, around 200,000 residents are under evacuation orders or warnings.
While residential real estate has suffered greatly in the affected areas, a special report by Marcus & Millichap has examined how commercial real estate (CRE) has been impacted by these fires. It is no surprise that there has been an increase in demand for hotels in the affected areas with occupancy rates rising up to 1
