California Commercial Real Estate Survey Sees Continued Optimism

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cal-creCommercial real estate leaders in California see continued optimism for growth over the next three years, according to the latest Allen Matkins/UCLA Anderson Forecast.

A panel of investment and development experts predict the California non-residential market to keep growing steadily for the next three years, but start to slow after 2016 or 2017. There will still be growth, the report said, but it will be at a slower rate.

In the Bay Area, half of the surveyed developers responded that they will begin a new project in the coming year, and in Southern California, one-third of those expected to do the same. The survey points to continued growth in office space construction at the same or higher rates as today over the next three years.

“This survey confirms what we’re seeing in the West Coast, not only in the commercial sector but also industrial and energy sectors,” said Jesse McKnight, executive vice president of The Saint Consulting Group

Click here for the report.

Allen Matkins are a California-based law firm specializing in real estate, litigation, labor, tax, and business law, with approximately 220 attorneys in  Los Angeles, Orange County, San Francisco and San Diego.

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