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WEEKLEE NEWS
IN REVIEW


OUR TOP FIVE LOCAL AND NATIONAL

NEWS STORIES

HERE'S WHY MORE CORPORATE CAMPUSES ARE GETTING WAREHOUSE CONVERSIONS

Costar


Developers across the United States, in regions as varied as the San Francisco Bay Area and greater Chicago, are capitalizing on pandemic-related shifts that have resulted in hundreds of millions of square feet of vacant offices that, thanks to rising demand and pricing for industrial property, are now financially feasible to overhaul into logistics space in markets that just a few years ago weren't practical.

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FEDERAL RESERVE SEES A COOLER ECONOMIC WIND COMING

Globe St.


The projection released on March 22, 2023, went as follows for real GDP: 0.4% in 2023, 1.2% in 2024, and 1.9% in 2025, with long-term 1.8%. Unemployment projections were 4.5% in 2023, 4.6% in 2024 and 2025, and keeping the long-term 4.0%. The same signs of slowdown came into personal consumption expenditures (PCE) inflation. December saw things going from 5.6% in 2022 to 3.1% in 2023, 2.5% in 2024, and 2.1% in 2025, with 2% long-term, which is the Fed’s magic target number.

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GLOBAL INVESTORS REPORT INCREASED ALLOCATIONS TO U.S. REAL ESTATE IN 2023

Connect CRE


The U.S. remains a preferred global destination for commercial real estate investment with allocations up 6% from 2022, compared to a 5% decline in European investment, according to AFIRE’s International Investor Survey: Q1 2023 Pulse Report.

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UPDATES ON O-ZONES

Connect CRE


The Tax Cuts & Jobs Act introduced the Opportunity Zone program in 2017. During that year, and in years following, plenty of stories—both positive and negative—were devoted to this program. Though the stories and headlines have tapered off, the program is still functioning, and will do so until December 2026..

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SAN DIEGO'S JOB GROWTH STARTING TO EXCEED PRE-PANDEMIC LEVELS

San Diego Union Tribune


The region’s jobless rate was 3.7 percent in February, state labor officials said Friday, unchanged

from the previous month. It was lower than the national average of 3.9 percent and the 4.8 percent average in California.

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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

LinkedIn

www.lee-associates.com/sandiego