A new kind of Japanese mid-size import is making it big in Los Angeles.
These are mid-size Japanese firms, and they're buying office buildings in price ranges and in locations that are new for Japanese investors.
Michael Zietsman, senior investment associate with the Los Angeles office of Jones Lang Wootton USA, says that while these firms may have sales of $100 million or more, that's mid-size when compared to Shuwa, Mitsui or the other Japanese firms that have been investing here.
"These mid-size firms may be in businesses like chemical manufacturing or building supplies. In Japan, they generally don't invest in real estate," he said.