Bisnow/Allen Matkins - San Fernando Valley - Mark Leonard, Lee & Associates
Lee & Associates-LA North/Ventura principal Mark Leonard says the 10k to 15k SF tenant in the financial, marketing, and insurance fields is driving absorption in the West Valley. Calling Warner Center a suburb that's grown up around insurance-based companies such as Blue Cross and Health Net, he hopes this trend continues because it's definitely not the media district or the Westside—that is, no big influx of social media or Internet companies. While Mark says he's no fan of Obamacare, he thinks it will generate some jobs and office space absorption. On the topic of owner-occupant sales, he expect medical users that are growing and want to control their facilities will make some acquisitions.