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OUR TOP FIVE LOCAL AND NATIONAL

NEWS STORIES

DOWNTOWN SAN DIEGO BRACES FOR NEW SPECULATIVE OFFICE DEVELOPMENT AMID RECORD HIGH VACANCY

Costar


Between 2015 and 2019, quarterly leasing volume averaged nearly 300,000 square feet. Since the start of 2022, it has averaged roughly 60% of that level. The number of engagements signed quarterly since 2022 has fallen by 25% compared with 2015 to 2019, and the average lease size has declined by 20%.

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ELEVATING YOUR OFFICE-TO-RESIDENTIAL CONVERSIONS: EXPERT INSIGHTS

Globe St.


As the conversation around what to do with empty office space continues throughout U.S. cities, how to actually accomplish that goal becomes the major question. The reality is that a conversion is a very complex undertaking, according to Fernando Bonilla-Verdesoto, principal of architecture firm Soto, who has worked on several projects, the most notable being The Oxford.

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HERE'S WHAT PUSHED UP THE SAN DIEGO COUNTY INFLATION RATE

San Diego Union Tribune


San Diego County’s inflation rate rose to 4.7 percent in September, ending a year of declines. The rise was mostly the result of higher gasoline prices, which rose 16 percent over two months, according to data released Thursday by the U.S. Bureau of Labor Statistics’ Consumer Price Index. San Diego’s inflation is still down from a year ago when it was 8.2 percent, but up from 4.3 percent in July.

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RITE AID FILES FOR CHAPTER 11, JETTISONS 168 STORE LEASES

Globe St.


Unable to absorb the potential cost of federal, state and private lawsuits over allegations that it, along with other drugstore chains, oversupplied prescription painkillers, Rite Aid filed for bankruptcy protection over the weekend. The Chapter 11 filing puts Rite Aid’s exposure to the opioid liability suits temporarily on hold as the retailer attempts to restructure more than $3 billion of existing debt, according to a report in the Wall Street Journal.

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REALITY CHECK: THE TRUTH ABOUT U.S. RETAIL SPENDING

Connect CRE


The U.S. Census Bureau’s “Advance Monthly Sales for Retail and Food Services – August 2023” offered some cause for optimism, with total sales up 2.5% from August 2022. The report also indicated that total sales for the June 2023-August 2023 period increased by 2.2% year over year.

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FEATURED PROPERTIES

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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www.lee-associates.com/sandiego