Allen Matkins/UCLA Anderson Forecast Bullish on Industrial Market

While developer sentiment for retail is still less than 50 percent across the state, it was better in San Diego County, according to the latest Allen Matkins/UCLA Anderson Forecast for commercial real estate. The biannual survey forecasts California's commercial real estate industry three years out, and projects potential opportunities and challenges affecting the office, multifamily, retail, and industrial sectors. The report also found industrial space remains hot despite the economy's fluctuations; multifamily housing continues to be strong in most markets; office has reached its peak; and retail markets extend their struggles. While only 44.1 percent of developers surveyed were confident enough in San Diego's retail market that they may be moved to build here, lower percentages were experienced in San Francisco, East Bay, Silicon Valley, Los Angeles County and Orange County, according to the forecast. "We see continued reassessment by owners of retail projects as to whether or not they should repurpose the site for a new higher and better use," Allen Matkins partner Pete Roth said in a statement.