Media Center

With Vendor Applicants Raring To Go, NYC’s Cannabis Leasing Market Hits Breakneck Pace

Bisnow.com Features Lee & Associates New York City’s Greg Tannor and Jessica Gerstein   After more than a year of build-up, vendor license applications awarded by New York State’s Office of Cannabis Management are slated to open at some point in the next 30 to 90 days. As the dawn of NYC’s formal cannabis retail market edges closer, aspiring vendors have accelerated their searches for available retail space and are signing lease agreements with a range of different conditions, experts in…

Rising Interest Rates, Inflation Lead Investors to Reassess Which CRE Assets to Pursue

WealthManagement.com Features Lee & Associates New York City’s Ben Tapper   Rising interest rates, inflation and fears of a recession are starting to change the calculations of how to get the best returns for commercial real estate investors. Should they continue to favor multifamily and industrial assets, which have served them well through the pandemic disruption? Or switch to higher risk, but higher yield investments? It looks like the best approach might be combining the…

Seeing Green: Cannabis Can Fill Vacancies, Boost Property Values, But Deals Are Hard To Do

Bisnow.com Features Lee & Associates New York City’s Greg Tannor   The cannabis industry touches almost every commercial real estate asset class, from industrial to retail to office and flex. Despite its many obstacles, a fervent desire by developers to capitalize on the emerging industry is translating to increased demand for space. A 2021 survey by the National Association of Retailers found that in states where recreational or medicinal marijuana is legal, 36% of members…

The Medical Office Sector Continues to Hold Steady

WealthManagement.com Features Lee & Associates Twin Cities’s Susan Wilson and Chris Jacobson   The medical office sector couldn’t be in better shape despite fears of the impact from telemedicine and given the demand for health care, the industry should be robust over the next 12 months, according to analysts. A segment known for its stability and resistance to recessions set record highs for asking rents in 2021 as vacancies decreased–a trend expected through the next…

Lee & Associates President, Al Apuzzo, Named in GlobeSt 2022 Best Bosses

Click Here to View the Award Release on GlobeSt Lee & Associates North San Diego County President, Al Apuzzo, has been selected as an honoree in the GlobeSt.com/Real Estate Forum Magazine 2022 edition of Best Bosses. AL APUZZO Al Apuzzo is known for his encouraging and celebratory spirit and is often heard saying “go team” throughout the office. Apuzzo is president and managing broker of Lee & Associates’ North San Diego County office, where he…

Six Factors Helping to Power Interest in Multifamily Markets

When the pandemic engulfed the world last year, few analysts predicted that the multifamily sector would flourish and thrive so well. Most suspected that the sector would be on life support. Yet, despite a year-long national eviction moratorium, there hasn’t been a better time to be a big apartment-building landlord. Multifamily-property values have increased 13 percent since before the pandemic and more money is being invested now in apartment buildings than in any other type…

Lee & Associates Breaks Down Third-Quarter Economic Outlook by Sector

The calculus for which asset classes are likeliest to demonstrate strong growth continues to shift as the pandemic appears to be receding. Patterns in labor shortages, supply chain issues and material costs have managed to solidify through the third quarter of 2021. Lee & Associates’ newly released Q3 2021 North America Market Report dissects third-quarter 2021 industrial, office, retail and multifamily findings, with a focus on where demand is moving and the challenges facing each asset class….

Growing Southern California Industrial Demand Creates Shifts in Strategy, Outlook

Industrial real estate in Southern California has become what one might conservatively call a “fast-paced atmosphere.” The presence of multiple offers, sellers pushing up values and buyers continuing to chase deals have made for constantly increasing values and activity. Christopher J. Destino, SIOR, principal at Lee & Associates, spoke to REBusinessOnline about making strategic decisions in this unusual environment.   REBusiness: What is the forecast for demand in industrial properties in Southern California? Destino: The future of demand in…

California’s Population Exodus Arrives in Idaho

There has been much anecdotal discussion lately of Californians fleeing high-cost, high-density, high-traffic living for greener pastures, especially as COVID-19 made working from home a possibility for California’s high-tech workforce. This trend is not just a rumor for the residents of Idaho. Idaho is the second-fastest growing state in the nation[1], and Californians make up nearly 46 percent[2] of a new population influx that the state has experienced over the past five years. What is driving…