One more property type that’s benefiting is industrial. Lee & Associates VP Chris Roth (snapped in his office) tells Bisnow that North County San Diego industrial has seen a consistent decline in vacancies for the past few years. In addition, he says the investment market has been strong due to the low interest rates, which bumps up prices. Lee principal Rusty Williams tells us the lack of spec construction lately will continue to push prices and that lease rates will also increase due to the lack of options to buy.
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