Office Market Outlook - Allen Matkins/UCLA Anderson Forecast Winter/Spring 2015

In comparison to the last survey, conducted in May 2014, Southern California developers now are more bullish on the office real estate market than in previous years. Forty-seven percent of panelists stated that they began office projects in the last 12 months. Looking forward 51 percent indicated they would begin a development in the next 12 months as compared to only 35 percent in the May 2014 Survey.

The San Francisco Bay Area panel agreed that office space demand, though growing at a significant rate, is no longer out-pacing construction. That panel also forecasts a potential easing on rental rates. Development momentum has shifted to the East Bay, as the expensive rental rates in San Francisco proper push some companies across the Bay.

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