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Now that the Federal Reserve has made its long-awaited decision to cut interest rates by 50 basis points, California’s commercial real estate market is expecting to see some robust changes, JLL California experts say.
Transaction volume, especially in the multifamily and retail markets, is on track to continue its upward trend, and capital sources are starting to leave their position on the sidelines, said Erik Hanson, senior director of capital markets at JLL’s San Francisco office. Increased capital availability will be crucial to get more transactions closed.
However, other assets, such as office, have been hit harder by secular changes from the pandemic, and the path to liquidity and heightened transaction volume will be longer, he said.
Regardless of asset class, investors see a lot of potential in California CRE, especially from private capital providers.
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