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IN 'HISTORIC' DEAL, NAVY AGREES TO VACATE PRIME REAL ESTATE OPPOSITE SAN DIEGO BAY

San Diego Union Tribune


The Port of San Diego and the United States Navy have agreed to terms that will see the federal government vacate a 3.4-acre, waterfront site at 1220 Pacific Highway in exchange for $5.75 million in products and services. The deal, which is 38 years in the making, will return the prime real estate opposite B Street Pier to the port and open the door for redevelopment with hotels and public amenities.

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INSIDE THE WILD SWINGS OF SMALLER INDUSTRIAL SALES

Globe St.


Industrial properties were perhaps the best performing through the pandemic, to its heights, and

through 2022, because of expansions of e-commerce and increased inventories for many companies that wanted to avoid the supply chain problems of the previous two years. That was then, this is now, as the economy shifts, supply chains return to normal, and the needs for industrial real estate are finally changing, at least in this smaller size category.

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BANKS LIKELY TO 'KEEP RETREATING' FROM CRE LENDING 6 MONTHS AFTER SILICON VALLEY BANK FAILURE

Bisnow


In the six months since the market-rocking failure of Silicon Valley Bank, commercial property lending has receded into the rearview mirror for many small and regional banks, while nonbank lenders stepped in to fill the void when they or their borrowers can afford it.

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SOME ENCOURAGING SIGNS IN THE OFFICE SECTOR

Globe St.


Heavens and the tax authorities know that the office market has been tough. Just within the last few weeks, Goldman Sachs said that work-from-home will continue to push office vacancy rates

upwards; on the whole, sales of office properties in metros are down year-over-year in the first half of 2023; and office skyscraper vacancy rates are on the rise.

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HERE'S THE INFLATION BREAKDOWN FOR AUGUST 2023, IN ONE CHART

CNBC


Inflation rose in August on the back of higher gasoline prices, according to the consumer price index. But there’s good news for Americans: That increase is likely temporary, economists said. Aside from energy, there are signs that inflation continued its broad retreat in August, they said.

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ABOUT LEE & ASSOCIATES

At Lee & Associates, our reach is international but our expertise is local market implementation. With offices across the nation and Vancouver, Canada, Lee & Associates is one of the largest and fastest growing commercial real estate organizations in North America. 


Founded in 1979, our experience and expertise offers extensive local market knowledge, seasoned agents, industry leading technology, and a commitment to achieving our clients long-term real estate goals and successes. Lee & Associates understands real estate and accountability, and provides an integrated approach to leasing, operational efficiencies, capital markets, property management, valuation, disposition, development, research, and consulting.


Commercial Real Estate Questions? 

Please Contact:


Steve Malley

smalley@lee-associates.com

858.453.9990

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