Radius Group to Cover Commercial Real Estate Markets at 2007 Santa Barbara County Real Estate & Economic Outlook Conference
Radius Group to Report on Investment Property and Commercial Property Sales and Leasing
On Thursday, February 22, 2007, Radius Group Commercial Real Estate Co-Founders Steve Golis and Bob Tuler will cover commercial real estate markets at the 2007 Santa Barbara County Real Estate & Economic Outlook Conference. The conference will be held at Fess Parker’s DoubleTree Resort from 8:15 a.m. to 10:40 a.m.
Bob Tuler, Co-Founder of Radius Group Commercial Real Estate, will present a forecast for “The Commercial Real Estate Market”, including sales and leasing. Co-Founder Steve Golis will speak on “The Income Property Market”, including apartment building sales.
“Last year we looked for 2006 Santa Barbara office, retail and industrial lease rates to continue climbing as vacancy rates remained near historic lows,” said Tuler. “Commercial property sales remained strong throughout the year, compared to softening of sales in the residential market. Owners of retail properties benefited the most, with a large increase in retail lease rates, especially on downtown State Street.”
“2006, as predicted, was a year for a correction in the investment property market in Santa Barbara,” said Golis. “As interest rates increased, apartment sales slowed and investors could no longer expect large profits from fast turnarounds. Savvy investors took another approach, purchasing investing in undervalued buildings and thorough renovations.”
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