2022 Midyear Market Report

HIGHLIGHTS

• Record year-to-date sales volume continued the trend from late 2021, led by a pronounced return of investors. • The heavy sales activity spanned all property types (except commercial land) and locations throughout the South Coast.

• Leasing activity, in general, was on par with recent historical averages, though gross absorption varied considerably by location and property type.

• Office leasing to date was much more active in Santa Barbara than in the neighboring cities; however, Santa Barbara office remains in oversupply.

• Three large tech firms now offering creative office spaces for sublease are likely a bellwether for future increase of office vacancy.

Read the six page report here: http://www.hayescommercial.com/wp-content/uploads/2022-Q2-HayesCommercial.pdf