LEE & ASSOCIATES SAN DIEGO Q4 2023 MARKET REPORTS

Lee & Associates

Lee & Associates San Diego releases Q4 2023 Industrial, Office and Retail market reports.

ANOTHER 'MEH' YEAR FOR COMMERCIAL PROPERTY SALES

Costar

For the second year in a row, fourth-quarter transaction volume for commercial property sales failed to produce a typical year-end surge in 2023. The closing three months of the calendar serve as a guidepost to the overall health of the industry, as any weakness at the closing bell tends to happen toward the end of the real estate cycle.

MARKETS ARE EXCITED ABOUT RATE CUTS. THEY MIGHT BE DISAPPOINTED

Globe St.

With economic conditions still strong, many investors, including in CRE, are looking forward to falling interest rates and more favorable conditions in 2024. After all, the Federal Reserve has indicated a good chance of three quarter-point drops by year’s end.

ALTERNATIVE ASSETS GAINING GROUND AMONG INVESTORS AS OLD STANDARDS LIKE RETAIL AND OFFICE FADE

Bisnow

Alternative real estate assets, including niche property types like self-storage, student housing and medical office buildings, have long lived on the margins of commercial real estate investing. But as historically preferred property types like offices lose value, these specialized asset classes are gaining ground as investment targets.

MBA FORECASTS 29% RISE IN CRE LOAN VOLUME FOR 2024

Connect CRE

Total commercial and multifamily mortgage borrowing and lending is expected to rise to $576 billion in 2024, a 29% increase from 2023’s estimated total of $444 billion. That’s according to an updated baseline forecast released Tuesday by the Mortgage Bankers Association (MBA).

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