Industrial real estate is leading the other forms of commercial real estate (office, retail, multi-family) through the recovery. How’s Bakersfield’s industrial market compare with the others in California? Well, according to vacancy rates, we’re a little higher than the average of these cities (9.1%): Sacramento 12.6% Oakland 10.7% San Jose 8.5% Stockton 13.4% Fresno 9.7% [...]
CBRE is the largest commercial real estate services firm in the world, a position that is only possible from local knowledge built by nearly three thousand professionals like me working local markets out of 148 offices throughout America. Hence, our slogan: “Local real estate. Worldwide.” Every day we all apply our insight, experience, intelligence, and resources [...]
Industrial real estate may not be the most exciting property type, but its stability and growth opportunities in 2010 put the sector head and shoulders above other types of commercial property. So says Global Real Estate Monitor (a monthly newsletter for commercial real estate executives) entitled, “U.S. Industrial Property Review: Sector Outperforms Other Property Types”. [...]
Earlier this month, I posted a summary of Bakersfield’s 2009 industrial building market (Bakersfield Industrial Building Market…Nice Ending!). I touched on a topic I expect will develop further 2010: Distressed Sales. What’s a distressed sale? Bluntly put, it’s when a seller doesn’t want to sell but has to sell. A distressed sale is often triggered [...]
Last Thursday, I summarized the Bakersfield industrial building market over the last three years (you can see it here: http://bit.ly/aviZ4K). Today, I summarize our industrial finished land market. First, a distinction between “Finished Land” and “Raw Land”: Finished Land is land that has been parcelized into useable lots, with streets, curbs, gutters, and sometimes sidewalks in [...]
You’ve read here recently that our industrial real estate market appears in full recovery mode (2010…Off to a Great Start!, January 11th). Upon reflection, we noticed a marked increase in activity dating back to around Labor Day. That was the inflection point, before which the market was, charitably, slow, and after which, we actually experienced a pretty [...]
