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OUR TOP FIVE LOCAL AND NATIONAL

NEWS STORIES

WILL SAN DIEGO SEE MORE OFFICE BUILDINGS CONVERTED TO RESIDENTIAL?

San Diego Union Tribune


The new owner of 180 Broadway in downtown San Diego announced a $140 million plan last week to convert the office building into a residential and hotel property. Many analysts noted the difficult task of converting buildings into residential following the pandemic, and it was not a trend that took off. It seemed like an obvious solution to housing woes but didn’t work out financially for most developers.

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ANOTHER ANALYST DROPS US RECESSION FORECAST

Globe St.


Fitch Ratings Chief Economist Brian Coulton has joined the growing number of experts and sources that no longer expect a recession to happen in 2024, as Reuters reported. In a Wednesday seminar, he attributed the change in projection to signs of strength in the economy.

The December report from the National Association for Business Economics said that three-quarters of its panelists saw the recession risk as less than 50%.

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NAVY SELECTS DEVELOPERS FOR WHAT WOULD BE AMONG SAN DIEGO'S LARGEST-EVER PROJECTS

Costar


The U.S. Navy selected its development team for a planned mixed-use redevelopment of its massive defense technology research complex in San Diego, considered among the largest redevelopment projects in the city’s history.

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RATE CUTS MAY NOT BE ENOUGH TO DRIVE CRE PRICES HIGHER

Globe St.


While high interest rates and speculation about whether/when the Fed will lower them have dominated the capital markets for months, CoStar expects they will not play as significant a role in the months ahead.

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RECONSIDERING THE STATE OF OFFICE

Connect CRE


Beginning in October 2023 and moving to the end of the year, Connect CRE contacted several

office sector subject matter experts to determine whether the apocalyptic headlines were accurate. The takeaway was that, yes, the office sector is undergoing challenges. But what’s being published doesn’t delve into the nuances of this commercial real estate asset.

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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