Allen Matkins/UCLA Anderson Forecast California CRE Survey Finds Adaptive Reuse of Office Buildings is on the Rise tmcnet.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tmcnet.com Daily Mail and Mail on Sunday newspapers.
Popular online retailers are venturing into brick-and-mortar stores for many reasons, including Apple's privacy change making it harder to track users, driving up costs.
Thursday, February 11, 2021
During the previous economic expansion, retail faced an uphill battle. The current recession tripled down on that struggle. The current pessimistic view among panelists in the latest Allen Matkins/UCLA Anderson Forecast California Commercial Real Estate Survey is that retail properties will be generating significantly lower, if any, returns in 2023 compared to the end of 2020. Overall, the level of new retail property construction is expected to significantly decline from 2020 through 2023; and some existing space, lacking sufficient demand, will be converted to other uses.
Retail market industry leaders, El Warner of Colliers and Jonathan Lorenzen of Allen Matkins, discuss what lies ahead for this sector of the California commercial real estate market.
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