GlobeSt.com speaks with JLL executives in L.A., Orange County and San Diego to discuss the drivers behind CRE construction in their respective markets and the micro and macro factors influencing this sector.
NAI Fennelly says net absorption of Princeton, NJ, office space was 768,532 square feet in 2017, off nearly 24 percent off from growth of 1.015 million square feet in 2016.
Certain markets have not been able to generate the job growth and leasing to work off the high vacancies left by the Great Recession, and other markets that enjoyed stronger fundamentals are now contending with increased supply, Ten-X's Peter Muoio tells GlobeSt.com.
The industrial sector is often tied to growth in GDP, and because we are in a period of stable economic expansion, industrial GDP growth reflects this consistent overall growth, JLL's Louis Tomaselli tells GlobeSt.com.
“While there is a lot of 'nit-picking' about what's not perfect, from a property markets perspective, this is about as good as it gets,” says Kevin Thorpe at Cushman & Wakefield.
For the second year in a row, Los Angeles snags the number one spot in the global cities index, which measures economic outlook and investment activity.