The Golden State is a like a country unto itself and a critical part of a national economy. No one knows that better than CBRE’s Lewis “Lew” Horne. In his personal blog, Horne offered his take on CBRE’s 2020 outlook and what he expects to be a steady as it goes year nationally and in Southern California for CRE. Key takeaways?
• The U.S. is now in the 11th year of a historic expansion. Despite softness in 2019, expect steady growth in 2020.
• Low interest rates are driving demand for commercial real estate and capital will continue seeking safe haven allocations.
• The Ports of Los Angeles continue to drive the national economy and expect Southern California to remain a key player in 2020 logistics-driven CRE.
• Southern California is a pebble drop market for the next generation of specialized screen-to-door retailers and urban retail environments that blend lifestyle, hospitality and experiences.
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