LARGE PROPERTY PRICES DECLINE AS VALUES OF SMALLER PROPERTIES GAIN

Costar

Institutional investors drove prices lower for big assets last month in large U.S. markets in response to higher interest rates, according to CoStar Group’s latest repeat-sales indices report. Meanwhile, individual private buyers of small properties in secondary markets last month helped

reverse price declines of most of the past year on those assets.

CONSTRUCTION SPENDING RISES, MANUFACTURING ACTIVITY DECLINES, HOUSING AVAILABILITY SEEN IMPROVING

Costar

Manufacturing and apartment projects helped U.S. construction spending in March rise 0.3% from the prior month and 3.8% from a year earlier, though there were signs of a slowdown in categories including retail, warehousing and transportation.

4 THINGS YOU'RE UNDERESTIMATING ABOUT INDUSTRIAL

Globe St.

As with so many areas of real estate, there was an operational and profit high during the last few years that was like an industry getting drunk and then waking up with a headache. Looking back can create regret, but here are some things MSCI, in its Q1 2023 U.S. industrial capital trends suggest that are easy to underestimate.

SURVEY: RENTER INTEREST STRONG IN SELF-STORAGE SPACE

Connect CRE

According to a StorageCafe survey, 21% of Americans currently use self-storage space, while an

additional 15% anticipate doing so in the future. At the same time, the industry is on tap to add close to 53 million square feet of storage space this year.

FIRST REPUBLIC BANK IS NOW CHASE. WHAT DOES THAT MEAN FOR ITS SAN DIEGO CUSTOMERS

San Diego Union Tribune

At the downtown La Jolla branch of First Republic Bank, it was “business as usual” on Monday, roughly 12 hours after federal regulators seized the bank and sold its assets to JPMorgan Chase — in the largest bank collapse since the global financial crisis of 2008.

FEATURED PROPERTIES

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

www.lee-associates.com/sandiego