Retail, Office Construction Boom in California Nearing a Peak, Say Survey Respondents

Shopping Center Business (July 20, 2016) While California is experiencing a construction boom across all property sectors, the latest Allen Matkins/UCLA Anderson Forecast Survey of commercial real estate developers and investors provides the first indication of a “topping out” in the retail and office markets. “This planned construction suggests that although the retail space may be struggling in general, significant opportunities remain, at least in the construction of new retail space,” the researchers conclude. Survey respondents touted the importance of creating experience-based destinations for retail, says John Tipton, real estate attorney at Los Angeles-based law firm Allen Matkins. “It’s not just about doing your shopping, it’s about creating a place I want to be and spend time at.”