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Office rents will likely drop — but not apartment rents, survey finds

from The San Diego Union-Tribune

Office rents will likely drop — but not apartment rents, survey finds The San Diego Union-Tribune California office spaces are expected to keep getting emptier and their rent prices will likely keep declining for years as the fallout of the pandemic persists, according to a new survey of commercial real estate developers and financiers. Retail space will take an even more severe hit, while industrial real estate looks like a bright spot, and demand — and rents — for multi-family homes are expected to stay relatively high, said the Allen Matkins/UCLA Anderson Forecast survey, which focuses on expectations of what the next three years will hold for commercial real estate in Southern California and the Bay Area. READ MORE

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