SAN DIEGO TO OFFER EMERGENCY GRANTS FOR SMALL BUSINESSES IMPACTED BY FLOODING

San Diego Union Tribune

The Business Emergency Response & Resilience Grant will provide up to $2,500 per business and up to $5,000 for businesses and nonprofits in the city’s Promise Zone, as well as for businesses and nonprofits in low- to moderate-income census tract areas.

WITH CAPITAL AND PATIENCE DWINDLING, SHORT SALES BEGIN TO HIT THE OFFICE MARKET

Bisnow

Lenders have lost patience waiting for an office sector recovery that has failed to materialize and owners of struggling assets are finding it difficult to refinance debt at terms they can actually pay, market insiders say, kicking off a wave of forced sales that are expected to dominate capital markets throughout the year.

SUBLEASE SPACE ADDS PRESSURE TO SAN DIEGO'S INDUSTRIAL MARKET

Costar

A record level of industrial and flex space has joined the sublease market in San Diego, bringing it to a dizzying high of 3.9 million square feet at the end of 2023. That was 1.3 million square feet more than was available at the end of 2022 and a touch more than the 3.8 million square feet on the market during the height of the Great Recession.

COMMERCIAL REAL ESTATE LENDING FORECAST TO REBOUND FROM HISTORIC LOWS

Costar

Total commercial and multifamily borrowing and lending can only go up this year following a record-slow 2023, according to two new forecasts. The Mortgage Bankers Association expects commercial loan origination to rise to $576 billion in 2024, a 29% increase from 2023’s estimated total of $444 billion.

US ECONOMIC GROWTH BEATS PREDICTIONS, NEW HOME SALES INCREASE, JOBLESS CLAIMS EDGE HIGHER

Costar

Better-than-expected growth in U.S. gross domestic product represented good news for the economy, though some analysts said the Commerce Department’s report of 3.3% annual growth in the fourth quarter of 2023 could delay anticipated Federal Reserve cuts in its key lending rate.

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