San Diego's Multifamily Sector Poised
For Growth In 2018
Driving down the I-5 corridor in San Diego one thing is clear: more than skyscrapers, cranes dot the horizon. A lot of this construction is in the multifamily sector, which has seen high delivery coupled with high demand, a trend that is expected to continue throughout 2018. Unit delivery totaled 6,200 units in 2017, compared with 4,300 in 2016, according to a Q4 multifamily market report released by Marcus & Millichap.
“San Diego multifamily is positioned well for the foreseeable future,” Hines Development Director Bhavesh Parikh said. “It is well-known that San Diego needs more housing and therefore the fundamentals are strong in the region.”
Hines is developing Riverwalk Golf Course into a…
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California Hotel Construction To Increase In 2018
California's hotel business is booming. The state set a new record in 2017 for the most hotel rooms opened in a single year, according to Atlas Hospitality Group's 2017 California Hotel Development Survey.
The 10,793 rooms that came online edged out 2008's previous…
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Legal Cannabis Dispensaries Plan To Continue Operating Despite Federal Uncertainty
| Julie Littman and Joseph Pimentel |
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Just days after recreational use of cannabis became legal in California, U.S. Attorney General Jeff Sessions rescinded a memo written during the Obama administration that many viewed as instrumental in the booming legal cannabis industry.
The initial reaction was one of confusion, but some cannabis dispensaries said they are not concerned about the long-term implications even as some landlords weighed what it might mean for them.
“I'd be lying if I said it didn't cause commotion,” MedMen Vice President of Corporate Communications Daniel Yi said. “There was a huge reverberation, for a lack of a better term, across the legal cannabis industry.”
Yi said the potential…
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San Diego Industrial Market Rebounds In 2017 After Flat First Half
Despite a relatively flat first half of 2017, San Diego's industrial market displayed resiliency during Q3 and Q4, achieving more than 930K SF occupancy growth from July to December, according to Cushman & Wakefield's newly released Q4 2017 market report.
“The year…
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La Jolla Office And Retail Mixed-Use Properties Sell For $9M
LSREF4 Dual LLC has sold two office and retail properties at 6902 and 6980 La Jolla Blvd. in La Jolla for $9.15M. Buyer Hillcrest Veritas plans to turn the office component of one of the buildings into apartments.
The two adjacent properties total approximately…
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The Great Indoors: Employers Bring Nature Inside The Workplace To Increase Employee Happiness
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Is Tiny Commercial Real Estate The Next Big Thing?
Jeff Tonidandel enjoys getting doughnuts on the boardwalk at the beach with his wife and kids. So what does that have to do with a closet inside a pourhouse in Charlotte?
Inspiration, that's what. Tonidandel, the owner of Crepe Cellar, Growlers Pourhouse and Haberdish, had a storage closet inside of Growlers with potential. With a vision borrowed from the beach and some TLC, Reigning Doughnuts was born — in 90 SF.
More than 800 doughnuts were sold on the first day.
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This U.S. Office Market Isn't Getting The Brexit Bump Many Predicted
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