The Industrial sector is the new “Park Place” on the Monopoly board. Who survived and thrived during and post-pandemic? Answer: construction supplies, Amazon. fabricators, tile, marble, granite, and woodworkers, and all associated construction suppliers are struggling to meet customer demand and are expanding. Essentially the wholesale sector and supply chain vendors who line the shelves and bays at the likes of Home Depot. It’s these companies and business segments that are the big winners right…
2021 Q1 North America Market Report
INDUSTRIAL OVERVIEW: CONSTRUCTION SETS RECORD, GROWTH CONTINUES Strong tenant expansion continued in the first quarter as developers were underway on a historic volume of new projects while the pace of rent increases downshifted slightly. Net absorption totaled 73,987,060 SF in the first quarter, bringing the aggregate for the last four quarters since the lockdown to 252.3 million SF the most since 2017. Vacancy is projected to remain between 5% and 6%, roughly half of the…
27,272 SF Industrial Building Sold for $6.25M
Carlsbad, CA – Rusty Williams, SIOR, Chris Roth, SIOR, and Jake Rubendall of Lee & Associates– NSDC (The Williams Roth Group) just sold 2261 Cosmos Court located in the Palomar Airport Business Park. This 27,272 square foot freestanding industrial/flex building sold for $6,250,000 and was leased to several tenants on short term leases. The Williams Roth Group represented the buyer, Burke Cosmos LLC, and the seller, Catalina Development, LLC.
Self-Representation Versus Broker-Representation In Real Estate Transactions
In this large and vibrant U.S. economy spanning a huge area of land, we can find many types of real estate transactions: land, commercial centers, industrial parks, office buildings, single and multi-family residential, mixed-use buildings, parking lots/garages and MANY others. In my career of over 20 years, I have seen many colors and shapes of real estate transactions and I am constantly surprised by the uniqueness of every client and requirement I see on a…
Lee & Associates Lee Land Team sells 118 acres in Lake Elsinore
Lake Elsinore CA – Lee & Associates, a nationwide leader in commercial real estate services, announces the sale of approximately 118 acres in Lake Elsinore CA for $1,200,000. The property is located east of Greenwalk Ave. & Central Ave. and is part of the Meadowbrook Specific Plan. The specific plan allows for 364 4,000 – 8,000 SF residential lots however the site is unentitled. The site was sold by Lake Elsinore Holding Co. LLC, an…
3 Parcels Sold for Redevelopment in Vista
October 27, 2021 (San Diego, CA) – Lee & Associates – North San Diego County announces the sale of 3 parcels, totaling 4,160 SF of building space on a total of 45,884 SF of land, located at 702, 710 & 716 Civic Center Dr, Vista, CA for $1,775,000. Michael Golden, of Lee & Associates – NSDC represented the buyer in this transaction. The existing tenants on the property will provide passive income to the new…
Crown Point Investment Property Sells for $8,075,000
October 27, 2021 (San Diego, CA) – Lee & Associates – North San Diego County announces the sale of a 19-unit, multifamily investment property located at 3833 Jewell Street, CA for $8.075 million, or $565/SF and $425,000/Unit. Eric von Bluecher, of Lee & Associates – NSDC’s Multifamily Advisory Group represented the buyer, SK 4 NATIONWIDE, L.P., and the Seller, RIVIERA JEWELL APARTMENTS, LLC The 19-unit multifamily investment property, located in an A+ location…
Driving the Residential Market
The San Diego apartment market continues to be on fire with multiple offers on each appropriately priced multifamily offering. Cap rates below 4% are becoming a reality. Rents are continuing to rise, vacancies are declining, and the number of units available is shrinking. Vacancies are at 2.4%, rent growth is at 12.8% across the board where newer buildings increased in the 15-17% range. When COVID hit, it pushed most renters away from the coast in…
Federal Express Facility in Collierville, TN Sells For $15.4M
Collierville, TN – Lee & Associates, one of the largest national commercial real estate firms, has completed the $15,400,000 sale of an approximately 126,213-square-foot industrial building that sits on an approximately 9.07-acre parcel and is located at 477 Distribution Pkwy, in Collierville TN. The building is leased to FedEx Forward Depots, Inc., a subsidiary of Federal Express Corporation. FedEx has been operating at this location for over 15 years and recently executed a 5-year lease…