Developers Bullish on MF, Industrial

GlobeSt.com (January 30, 2013) Developer sentiment remains optimistic toward multifamily and industrial asset types and cautiously optimistic toward commercial office markets, according to the latest Allen Matkins/UCLA Anderson Forecast California Commercial Real Estate Survey. The three-year outlook for the state’s overall CRE industry remains predominantly upbeat, the survey that was conducted in November 2012 reveals. John Tipton, partner with Allen Matkins, tells GlobeSt.com that the office-market numbers can be misleading. “Sometimes you can read too much into a particular number,” says Tipton. “This is not an exact science. The main point is that across both product types and the markets, when people look three years out they are remaining optimistic—a little less optimistic in the office market, but that doesn’t mean pessimistic And they’re pretty darn bullish in industrial and multifamily.”