State of the Market: Tight
CBRE senior managing director Kurt Strasmann tells us that it’s becoming more difficult for investors and developers to find quality opportunities here. Hear more from Kurt at Bisnow's third annual State of the Market at the Hotel Irvine of Thursday. Sign up here.
“We have exceptionally strong demand from both private and institutional investors, with exceptionally limited supply,” Kurt tells. At the moment, industrial properties are the darling asset class, at least relative to office and retail, so not many owners are willing to part with industrial buildings right now.
Allen Matkins partner Bill Ahern, who will be a moderator at our event, tells us that the market is once again conducive not only to development--besides multifamily projects, that is--but smaller developers are back in the game. “2014 is turning out to be a unique year, in which we’re seeing a lot of smaller entrepreneurial developers entering back into the market, and yielding significant returns on mid-size projects."
