“RAF Pacifica Group has acquired 18.4 acres of industrial land in the Carlsbad Raceway Business Park for approximately $15 million, with plans to build two new distribution buildings totaling 272,430 square feet.” “…the company is aiming to address a relative lack of supply of appropriate industrial space in the local market, increasingly in demand among […]
Revitalization Comes In Bottle, Growler
“With craft demand rising among city residents and visitors — and production space running out in Vista, San Marcos, Escondido and other stops along state Route 78, aka the Hops Highway — Oceanside now appears to be cashing in.” “The bulk of venues with significant on-site beer production are in or near the city’s industrial […]
Retail Projects Follow New Residential Sites
“San Diego County has 5 million square feet of retail in the planning pipeline…” “Space constraints, among other barriers to entry, have long accounted for a dearth of new ground-up retail construction in San Diego County, where many of the retail projects in recent years have been redevelopments of existing centers, rather than wholly new […]
Value-Add Investing Keeping Apartment Sales Rising This Year
Excerpt from article: Apartments have been a preferred property buy of late, thanks in no small part to a recent surge in value-add deals A total of $159 billion in U.S. multifamily property sales closed in 2015, just eclipsing the $156 billion for sales of office properties Searching on the term “Value Add”… results […]
Big Development Opportunity Draws a Crowd of Contenders
Excerpt from article: The Unified Port of San Diego has no shortage of companies looking to be part of what eventually replaces the iconic Seaport Village, on a portion of the downtown San Diego waterfront that spans 70 acres “This is one of those development opportunities that only comes around every 50 or 60 years,” […]
Creating Surreal Spaces for Makers, Innovators and Entrepreneurs
Excerpt from article: San Diego is on the water like three of the four other major West Coast cities (Seattle, San Francisco, Portland and LA), but Downtown SD is very different. San Diego is well-located and moving in the right direction compared to these other cities, he said, including efforts to put its stadium Downtown […]
Building Owners Enjoyed 2015 Property NOI Growth at Highest Levels Since 2007
Excerpt from article: According to early analysis of securitized loan results through February of 2016, the commercial properties backing the loans posted strong net operating income (NOI) growth, increasing 3.8% on average in 2015. Average NOI for commercial property backing CMBS loans showed a big jump in 2015, compared with 2.66% in 2014 and 2.64% […]
Commercial, Multifamily Mortgage Delinquencies Continue Decline in US
Excerpts from Article: “According to the Mortgage Bankers Association’s (MBA) Commercial and Multifamily Delinquency Report, delinquency rates for commercial and multifamily mortgage loans continued to decline in the first quarter of 2015.” “Life company portfolios: (60 or more days delinquent): 0.06 percent, a decrease of 0.02 percentage points from the fourth quarter of 2014; Freddie Mac […]
Insurers Driving More Disciplined CRE Lending Market
Excerpts from Article: “A new era of more stringent underwriting by banks and other lenders combined with greater diversity in sources of commercial real estate capital has helped ignite a rush of confidence among CRE executives, according to the 6th annual Akerman U.S. Real Estate Industry Outlook Survey released Wednesday.” “The survey indicates that nearly 60% […]
Survey: County’s Apartment Vacancy Rate Up from 2014
Excerpts from Article: “The local region’s apartment vacancy rate now stands at 4.1 percent, up slightly from spring and fall of 2014, according to newly issued results of a spring survey by the San Diego County Apartment Association.” “…vacancy may have been driven higher in part by rising supply of newly constructed apartments in places such […]