OFFICES AND LABS TAKE DIFFERENT PATHS TO A SIMILAR PLACE

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The implications for real estate have been limited in geographic scope, but are profound within the biotech clusters that dot the landscape near Boston, San Francisco, San Diego and several other U.S. cities. Expanding life-sciences startups have been hungry for the kind of specialized, expensive and rare lab space that enables their research.

NAVY NEARS SELECTION OF DEVELOPER FOR ONE OF LARGEST PROJECTS IN SAN DIEGO HISTORY

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The Navy is looking to replace its current Naval Information Warfare Systems Command complex, built in 1942 to produce bomber aircraft, with a new facility as part of a larger redevelopment in partnership with private commercial developers. Future elements could include more than 4,000 apartments along with new retail, commercial offices and possibly a hotel.

REPORT: RETAIL REMAINS RESILIENT

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According to U.S. retail real estate market reports for Q1 2023, lower supply and increasing demand continues to support retail properties. Due to muted development activity, “supply-demand fundamentals continue to improve,” according to Lee & Associates’ Q1 2023 North America Market Report.

FORGET FED RATE CUTS UNTIL 2024 SAYS ECONOMIST GROUP

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Virtually all the economists said that the year-over-year core Personal Consumption Expenditures

inflation rate would not come down to the 2% the Federal Reserve expects. At 59%, a majority of

respondents don’t expect inflation to hit 2% until 2025.

OFFICE SUBLET SPACE REACHES ANTOERH HIGH IN SAN DIEGO

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Rising for seven straight quarters, sublease availability has reached 3 million square feet, representing 2.4% of existing inventory. That is the highest percentage seen in the past 20 years and is 1 million square feet more than 12 months earlier.

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