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WEEKLEE NEWS
IN REVIEW


OUR TOP FIVE LOCAL AND NATIONAL NEWS STORIES

HIGHER RATES, SLOWING INVESTMENT, RECESSION: WHAT TO WATCH FOR IN THE NEW YEAR

Costar


Sure, perhaps we have seen peak inflation in the rear-view mirror. With supply chains easing and

transportation costs coming down, costs of physical goods which had been in such high demand during the pandemic-era lockdowns have been on a downward trend for the past five months. On the services side, the grand reopening last year supercharged demand for services such as meals out, travel and entertainment, but even spending has at least stopped accelerating.

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FITNESS ASSETS CONTINUED TO DRAW INVESTORS IN Q4

Globe St.



Fitness brands were among the hardest-hit by the global pandemic, as lockdowns shuttered operations and consumers flocked to in-home, tech-driven options. But as Covid restrictions lifted, experiential retail concepts provided lift to the overall sector as foot traffic to fitness centers – and those retailers located in the immediate vicinity – ticked up.

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COSTAR PREDICTS: VACANCY GAP BETWEEN NEWER AND OLDER OFFICES WILL WIDEN

Costar


The newest and highest-quality office properties are expected to perform the best in 2023 amid

slower growth in demand, increasing remote and hybrid work and a weakening economy. As businesses rethink their space needs and possibly shrink their footprints, they're more likely to consolidate into their most strategic locations, which tend to be high-quality and centrally located buildings.

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PLENTY OF DEMAND FOR BRICK-AND-MORTAR LUXURY RETAIL

Globe St.


Luxury shopping malls did not exceed their 2021 visit levels in the first half of 2022, but they did outperform their non-luxury counterparts, rising 0.7% year-over-year (YoY) in September 2022 compared to regular indoor malls.

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MBA PROJECTS 5% DECLINE IN COMMERCIAL MORTGAGE VOLUME FOR 2023

Connect CRE


Total commercial and multifamily mortgage borrowing and lending is expected to fall to $700 billion this year, off 5% from 2022’s expected total of $740 billion, according to an updated baseline forecast from the Mortgage Bankers Association (MBA).

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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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www.lee-associates.com/sandiego