As the second quarter of 2018 came to close, market activity, as expected, did not seem to change much from the first quarter. Overall, the second quarter’s 15 sales brought the total number of sales for the first half of the year to 29. That is a sharp decline compared to the 49 commercial sales we recorded in the first half of 2017.
It’s no secret there remains much discussion and debate about just exactly what’s going on in our once-bustling downtown corridor. The one thing we can all agree on is the tale of State Street retail is playing out like a re-recording of Willie Nelson’s iconic “Always on my Mind”. Ultimately it’s a song of angst and perhaps regret, with no definitive solution on the table.
The South Coast multifamily market continues to remain strong and should stay this way through 2018. Renters make up a large portion of the region’s population, with vacancy in the greater Santa Barbara area below 2% as it has been since 2011, which of course is very attractive to investors. Demand for rental units is expected to remain high due to economic, demographic and lifestyle trends, including the continuing trend of baby boomers and empty nesters choosing to downsize.
We put together a list of transactions, lease highlights, and development projects around California's commercial real estate market. The list also …
The Realtors Relief Foundation (RRF) marked its 20th anniversary this week. Within hours of the Sept. 11, 2001 terrorist attacks, the National Association of Realtors began… Read more »
Retail has been hurting for a number of years but the pandemic really drove home that point. During the initial days of… Read more »