Office Developers Gear Up for Strong 2022

GlobeSt.com (July 31, 2019) Office development sentiment is up. The newest installment of the Allen Matkins-UCLA Anderson Forecast Commercial Real Estate Survey, office developers throughout California are confident about delivering new office product in 2022. This is an improvement in office development sentiment from the last survey six months ago, and a sign that developers expect any economic issues to have happened and ended by mid-2022. “This is when it is really important to remember that this is a three-year lookout. We were asking the panelists to tell us their outlook for June 2022,” John Tipton, a partner at Allen Matkins, tells GlobeSt.com. “The UCLA Anderson Forecast predicts a slowdown in 2020 and then a pick-up. This survey shows that people think that in 2022 we will be past the rough patch. Office is perhaps the paradigm case of that.”