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Real Estate/Development

Feb. 8, 2023

Survey is cautiously optimistic on California's commercial real estate market

According to the research, new multifamily development will be fueled by two reasons between 2023 and 2025 – a number of state laws that override some local building approval procedures are allowing the construction of small multifamily structures on land that was previously zoned for single-family homes, which lowers barriers to multifamily construction in transit corridors and the inland parts of the state are seeing growth in logistics and infrastructure construction.

California commercial real estate developers, owners, and investors have reverted to a less-than-confident perspective as rental and occupancy rates continue to decline across the state, according to a biannual Allen Matkins/UCLA Anderson Forecast Commercial Real Estate Survey to be published Wednesday.

John M. Tipton, a partner in the real estate development practice Allen Matkins Leck Gamble Mallory & Natsis LLP, explained which di...

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