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Q2 2023 SAN DIEGO MARKET REPORTS

Lee & Associates


Lee & Associates San Diego releases Q2 2023 Market Reports for Industrial, Office, Retail.

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CALIFORNIA PROJECTS ZERO POPULATION GROWTH THROUGH 2060

Globe St.


In 2013, California’s state finance department, which issues demographic reports every 10 years, predicted that the trajectory of population growth in the Golden State would look like a space launch in the next three decades: rocketing from 35M to nearly 53M by 2060. The financial department issued its 2023 forecast this week—and the rocket launch has been canceled: the experts are projecting that California’s population has plateaued at around 39.5M and will hover at that level until 2060.

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IS THE SALE OF TWO MALLS, PAVING THE WAY FOR HOUSING, GOOD FOR MISSION VALLEY?

San Diego Union Tribune


Mission Valley has added thousands of new apartments in recent years, but locals often complain that it is increasing traffic and strain on infrastructure. The entrances to Interstate 8 and State Route 163 near Target are one of the county’s worst bottlenecks. Yet residential development taking the space of parking lots and underused retail is seen by housing advocates as a good thing.

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NORMALIZED DEMAND COOLING INDUSTRIAL STARTS

Globe St.


Higher interest rates and normalized demand have slowed industrial construction and have helped to cool industrial starts, with 147.1 million square feet beginning construction in the first half of the year, according to a report by Commercial Edge. During the same period in 2022, developers broke ground on 313.2 million square feet, according to the report.

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OPTIMISM ABOUNDS AS THE ECONOMY POWERS FORWARD

Costar


After many months of predicting a recession, Wall Street is celebrating recent economic news suggesting that the economy is powering through the Federal Reserve’s interest rate hikes and seems ready to emerge in pretty good shape.

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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

LinkedIn

www.lee-associates.com/sandiego