Allen Matkins/UCLA Anderson Forecast California Commercial Real Estate
Survey Reveals Optimistic Outlook for California Office
and Industrial Markets
Slight Turning Point Expected in 2013
LOS ANGELES, July 16, 2010 -- Optimism is returning and a “distant glow of light at the end of the tunnel” is nearing in the California office and industrial markets, according to the latest Allen Matkins/UCLA Anderson Forecast Commercial Real Estate Survey and Index Research Project. The survey includes the Inland Empire, East Bay, Silicon Valley, Los Angeles, San Francisco, Orange County and San Diego office markets. The survey compares the panel's forecast of the market three years hence with today's market.
“After eighteen months of pessimism about office and industrial markets we are now seeing indications that, after the markets hit bottom later in this year or early next year, they will follow the pattern of increased non-residential construction coming two to three years after the end of the recession rather than the pattern of a multi-year stasis in this sector,” said Jerry Nickelsburg, senior economist, UCLA Anderson Forecast, and author of the survey results report. The Allen Matkins/UCLA Anderson Forecast Survey of Industrial Space Developers, now beginning its second year, shows surprising optimism about 2013 industrial markets. “The optimism is somewhat greater in Los Angeles and Orange County possibly reflecting the current strength in manufacturing in the early days of this post recession expansion,” the report states. “Consumption spending is growing at a slow pace and growth in consumption is the key ingredient for an improvement in warehouse usage. Nevertheless, all markets are seen by our panel as having higher rents and higher occupancy three years hence.”
For a copy of the latest Allen Matkins/UCLA Anderson Forecast California Commercial Real Estate Survey and Index Research Project, please visit www.uclaforecast.com.
The Allen Matkins/UCLA Anderson Forecast California Commercial Real Estate Survey and Index Research Project polled a panel of California real estate professionals in the office space, industrial space and investment market, and asked a series of questions on various aspects of the commercial real estate market. It was initiated by Allen Matkins in 2006, furtherance of their interest in improving the quality of current information and forecasts of commercial real estate.
About Allen Matkins
Allen Matkins Leck Gamble Mallory & Natsis LLP, founded in 1977, is a California-based law firm with approximately 220 attorneys practicing out of seven offices in Los Angeles, Orange County, San Francisco, San Diego, Century City, Del Mar Heights and Walnut Creek. The firm's broad areas of practice include real estate, land use, construction, real estate finance, business litigation, corporate and securities, intellectual property, environmental, taxation, bankruptcy and creditors' rights, and employment and labor law. For more than 30 years, Allen Matkins has helped clients turn opportunity and challenge into success by providing practical advice, innovative solutions and valuable business opportunities.
About UCLA Anderson Forecast
UCLA Anderson Forecast is one of the most widely watched and often-cited economic outlooks for California and the nation and was unique in predicting both the seriousness of the early-1990s downturn in California and the strength of the state's rebound since 1993. More recently, the Forecast was credited as the first major U.S. economic forecasting group to declare the recession of 2001. Visit UCLA Anderson Forecast on the Web at http://uclaforecast.com.
Contact Information
Media Relations, (310) 206-7707, media.relations@anderson.ucla.edu
