Since 2011, owner/user industrial property values in the San Diego region have been on the rise, and have now reached a level that even the most optimistic and experienced professionals never imagined.
Current pricing for industrial buildings is more than double the previous market peak back in 2008, and for those who purchased their buildings back in the 1990s, their properties are worth up to eight times their original purchase price.
In this month’s Market Insights, we have Kyle Carruthers speaking with Eric Northbrook about the future of the multifamily industry. Kyle specializes in multifamily apartment buildings in both North County, San Diego, and South Orange County, with a focus on the coastal assets West of the 5 Freeway.
It certainly is turning out to be an interesting year. The ground under us seems to be shifting every day and what counts as a good opportunity is becoming a moving target. After seeing all the Q2 Voit Market Reports for LA, Mid-Counties, the Inland Empire, and Orange County, it is clear that the change in market psychology has not yet manifested in the metrics. Though we may see substantive change in measured market activity in the final two quarters. There is just no way around the fact that money has become far more expensive and inflation is eating away at the profitability of businesses around the Southland.
Finding the right space requires a level of situational awareness in understanding economic trends and high-growth industries.
The country got a wake-up call on April 28th when the first estimate of Q1’s GDP had the US economy contracting at an annualized rate of 1.4%. Most experts expected a sluggish quarter of growth, but none that I know of predicted an actual decline in economic activity. I was just as surprised as everyone else and it made me wonder if we are headed for recession and, if so, how that would impact commercial real estate here in San Diego?
In this month’s Market Insights, Eric Northbrook speaks with Connor Weick, Senior Associate regarding the ever-changing office market.
In our most recent Market Insights, Eric Northbrook sits down with Robert Vallera, Senior Vice President and Partner at Voit Real Estate Services to discuss the San Diego multifamily and apartment market.
The San Diego commercial real estate market is being heavily influenced by the massive expansion of the life sciences sector; specifically Sorrento Valley, Sorrento Mesa, and UTC.
Eric Northbrook, Managing Director and Randy LaChance, Executive Vice President at Voit Real Estate Services recently sat down to discuss the latest trends in the commercial real estate industry. With over 24 years in the CRE industry, Randy is one of the leading experts in the field. Randy specializes in Capital Markets and Industrial property within the Central San Diego area.