Market Update

We've just released our market update for South Coast Commercial Real Estate.

HIGHLIGHTS include:

• Commercial sales activity stalled in Q1, as high interest rates and pricing friction took many investors out of play.

• Owner-users generated above-average sales activity.

• Office inventory is in over-supply, as remote work has left a glut of large office spaces on the market while limiting demand to absorb vacancies.

• Retail vacancy has fully recovered to pre-pandemic levels, though State Street’s downtown corridor continues to wrestle with a surplus of empty storefronts.

• Industrial leasing activity and vacancy are both very limited, though a handful of large spaces have recently come to market.

Read the full 6 page report here: http://www.hayescommercial.com/wp-content/uploads/2023-Q1-HayesCommercial.pdf