Survey Bullish About Industrial, Apartment Markets in California

Daily Journal (January 30, 2013) California's multifamily and industrial real estate markets are looking up, according to the latest Allen Matkins/UCLA Anderson Forecast Commercial Real Estate Survey released this week. The survey, which polled a panel of the state's real estate professionals in the development and investment markets, found developer sentiment is steadily optimistic when it comes to the apartment and industrial sectors, but waning in commercial office markets. "We are still seeing strength in the market today. More developers have been taking notice that market conditions now justify demolishing older structures, and taking steps to build new ones," John Tipton, real estate development partner at Allen Matkins, said in a statement. "This is a very significant indication of commitment, not only of capital, but to the strength of the development cycle."