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THIRD QUARTER 2023 SAN DIEGO MARKET REPORTS

Lee & Associates


Lee & Associates releases its third quarter 2023 San Diego market reports for industrial, office, and retail.

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US PROPERTY'S QUARTERLY PRICE GAINS AT ODDS WITH BEARISH MARKET

Costar


U.S. prices for most commercial property types rose in the third quarter from the second quarter, but the reasons for the increase actually illustrate a bearish market, according to a CoStar Group analysis.

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WHITE HOUSE UNVEILS PLAN FOR RESIDENTIAL CONVERSION PUSH

Globe St.


The White House announced a plan on Friday to help commercial property owners — with a focus on office — convert buildings to residential use. “These announcements will create much-needed housing that is affordable, energy efficient, near transit and good jobs, and reduce greenhouse gas emissions, nearly 30 percent of which comes from the building sector,” a Biden administration fact sheet noted.

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WHERE INDUSTRIAL GROWTH IS BOOMING

Globe St.


Three California metros were the only ones nationally to see double-digit rent growth for industrial spaces. Rent appreciated 17.4% year-over-year through September in the Inland Empire, 11.8% in Los Angeles and 10% in Orange County, according to CommercialEdge’s October 2023 national industrial report.

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EL CAJON MAY SOON CONTRIBUTE TO A MICROLOAN PROGRAM FOR EAST COUNTY BUSINESSES

San Diego Union Tribune


A microloan program may be on the horizon to benefit East County small-business owners following approval by the El Cajon City Council to commit $300,000 toward the initiative. During its bimonthly meeting on Tuesday, the City Council voted unanimously to conditionally allocate the funding for a low-interest, microloan program following a presentation from City Manager Graham Mitchell.

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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