REJournals.com Features Lee & Associates Research The lowest vacancy rate in 15 years. That’s the milestone the U.S. retail sector hit in the fourth quarter of 2022, according to the latest research from Lee & Associates. And that’s just the start of the good news from the company’s fourth quarter 2022 retail report. According to Lee & Associates, the retail sector saw 20.7 million square feet of net absorption in the fourth quarter of…
The shoppers have come back with a vengeance: Retail sector enjoys boom year in 2022. And this year looks good, too
The first NY cannabis licenses have been approved — but these are the 3 obstacles dispensaries still face
Business Insider Features Lee & Associates New York City’s Greg Tannor The first legal dispensary in New York state opened its doors in December, but a commercial-real-estate expert said cannabis-business owners have some hefty obstacles to overcome before they can follow suit. In March 2021, the state of New York legalized recreational marijuana for adults, but it took nearly two years for the Office of Cannabis Management to approve the first 36 business licenses for dispensaries. The…
Industrial and Multifamily Sectors Stay Resilient Amid Economic Headwinds
GlobeSt.com Features Lee & Associates Industrial & Multifamily Research The current economic headwinds have been a cause for alarm in certain sectors. Not so for industrial and multifamily, however. With US industrial vacancy at 4% and multifamily’s pipeline tightening, the data from Lee & Associates’ Q3 2022 Market Report shows both sectors have room for rent growth. It’s a story about fundamentals that point to continued strength, according to Jeff Rinkov, CEO of the broker-owned real estate services firm….
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…