The economy is recovering. More signs… U.S. Economy: Factories Drive Growth as Orders Rise (Bloomberg Business Week, March 31, 2010, by Courtney Schlisserman and Shobhana Chandra) Manufacturers are driving the U.S. economic recovery as the real estate industry struggles to recover from recession, hurting employment, reports today showed. Factory orders rose 0.6 percent in February [...]
I’ve reported previously that my team has experienced a marked increase in activity in 4Q09. Many of you have as well. So it appears ”the worst” is behind us. And if the first week of 2010 is any barometer, then I like 2010. Why? We opened escrow on 95,000sf /10ac and set up a closing on 6,000sf /1ac. We negotiated a buyout on [...]
Bakersfield is a pretty good place to do business. While we were not immune to the effects of the “great recession”, we’ve faired better than most. With the help of a number of people, I’ve compiled a summary of the economics-related ”lists” Bakersfield has appeared in over the last year, which I share with you today. [...]
Back in September, I posted IHS Global Insight’s forecast of job recovery for California’s cities (California Job Recovery Forecast, Sept. 28, 2009). What’d they see? Bakersfield will return to “peak employment” faster than any other city in the state, by 2Q11. Now comes the 2009 Milken Institute/Greenstreet Real Estate Partners Best-Performing Cities Index, which ranks the 200 [...]
The local commercial real estate market has now produced a rare situation: Costs to build yourself a new building are now lower than they’ve been in a decade…but they will begin rising again by 2011. This post will explain. It is a little longer than usual, but I promise you it can save you and your [...]
