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Southern California Retail Strong in Coastal Towns

SAN DIEGO—Retail real estate is generally strong across Southern California, but the high-end players in locales by the water are really cleaning up, says Craig Killman of JLL (RECon booth C1001).

By Ian Ritter | Updated on April 24, 2014

SAN DIEGO—Southern California is a vast and competitive retail real estate market. “Someone once asked Jesse James why he robbed banks, and he said, ‘That’s where the money is,’” points out Craig Killman of JLL (RECon booth C1001). “The same sentiment holds true for Southern California where the coastal communities, for the most part, are doing very well. If there are any areas that are doing better than others, it’s where the money is.”

The high-performing communities he points out include San Diego’s North County coastal communities from La Jolla to Carlsbad; and Orange, Los Angeles, Ventura and Santa Barbara counties’ coastal communities from Laguna Beach up through Santa Barbara. One factor that catapulted these areas into recovery was when the single-family housing market fell apart during the recession, the multifamily sector took off. People opted to rent in places where they could live, work, play and shop, and use what little public transportation that Southern California has to offer. As the price of fuel continues to rise, there will be more pressure on shorter commutes and telecommuting in general; this is how the next generation wants to work.

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