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….
Record Single Tenant NNN Sale Price PSF on Development Presale
OVERVIEW 137 Serramonte Center Daly City, CA Class A Retail Building ± 4,500 SF ± 0.52 Acre Site 100% Leased by Verizon Wireless Seller: Petrolink, Inc. Buyer: Pacific Royale, LP For more information regarding this case study, please contact: Jonathan Selznick D (949) 734-0243 Email // Resume The Client Platinum Energy is a privately-owned company based in Agoura Hills, CA. Platinum’s Founder and CEO, David Delrahim emigrated from Iran in 1979 with a dream…
San Diego Stays Strong as a Core Market for Industrial Real Estate
OVERVIEW Five (5) Industrial Buildings in San Diego County, CA ± 475,000 SF in Five (5) Buildings Buyer Representation Total Sale Value: $80,000,000 For more information regarding this case study, please contact: Greg Pieratt, SIOR D (949) 734-0243 Email // Resume The Client Elion Partners is an east coast private investment firm based in Miami. The company has managed more than $2.0 billion in real estate assets since its founding in 2010. Additionally, over the…
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…
Office Market Takes Next Steps Toward Recovery
A turbulent 2020 only made the office market stronger, and it’s taking the renewed fortitude and versatility into a recovery of increasing opportunity. CHICAGO — The office market weathered a pandemic-fueled revolution last year, but both owners and tenants responded with impressive adaptability and endurance. Those things bode quite well for the sector’s recovery, according to Tony Russo and Ryan Freed, respectively SVP and VP at Lee & Associates of Illinois. The two discussed the office market outlook to…
Commercial Real Estate Visionary and Founder of Lee & Associates, Bill Lee, Dies at the Age of 78
April 6, 2021 (LOS ANGELES, CA) – It is with sadness that Lee & Associates announces that company founder, Bill Lee, passed away after a long battle with cancer and cancer-related complications last night. He was 78 years old. Bill Lee founded Lee & Associates Commercial Real Estate Services in 1979 in Orange County, CA. The company now has 65 locations across North America and employs over 1,300 people, with a year-end consideration value of over $14B in 2020. “I revisited all of…
Lee & Associates CEO, Jeffrey Rinkov, Named in GlobeSt 2021 Best Bosses
Click Here to View the Award Release on GlobeSt Lee & Associates CEO, Jeffrey Rinkov, SIOR, has been selected as an honoree in the GlobeSt.com/Real Estate Forum Magazine 2021 edition of Best Bosses. JEFFREY M. RINKOV Rinkov practices servant leadership. As the CEO of Lee & Associates, Rinkov oversees 65 offices and leads recruitment, expansion, initiatives and company culture. He is known for strong communication with all employees, from his fellow leaders at the firm…