“While the multifamily, apartment sector weathered the housing market downturn well, with households moving from owning to renting, other segments were significantly impacted,” says Michael LaCour-Little, director of the Real Estate and Land Use Institute at CSUF’s Mihaylo College. He adds, “There have been recent signs of a turnaround though – for example, Reis Reports shows average asking and effective rents up for retail properties during the 4th quarter of 2011. Moreover, after consistently negative net absorption, the office market is finally showing positive demand, although rents are back to pre-2004 levels. As one of the top apartment markets in the country, rents continue to rise while vacancy rates fell during the 4th quarter of 2011. As international trade picks up, demand for industrial warehouse space is expected to follow.”
Commercial real estate activity is a key barometer for a region’s economic vitality. On February 9, 2012, top executives from Southern California’s commercial real estate industry will discuss market conditions at a luncheon event hosted by CSUF Mihaylo College’s Real Estate and Land Use Institute. Attendees will hear firsthand what the top players in the market are thinking and doing. For more information on the Commercial Real Estate 2012 luncheon, click HERE.
Be sure to join us on February 9 as we look to 2012 and where the commercial real estate market is headed. You can register for the Commercial Real Estate 2012 luncheon by clicking HERE.
Check out this video of Commercial Real Estate 2011: