Allen Matkins/UCLA Survey Sees Opportunities in Capital Markets Volatility
Ongoing volatility in capital markets is creating new opportunities in commercial real estate, according to the 2023 Summer Allen Matkins/UCLA Anderson California Commercial Real Estate Forecast released Wednesday. Although sentiment on the office market turned decidedly negative compared to optimism in the sector a year prior, bright spots have emerged across the other market segments, with interest expressed in new development investments despite macroeconomic headwinds.
The Allen Matkins/UCLA Forecast is a biannual survey that polls a panel of California’s real estate professionals to project a three-year ahead outlook for commercial real estate and the macroeconomic trends impacting industry participants across the multifamily, office, retail and industrial markets. The latest edition reported bullishness in multifamily for specific markets, industrial demand driven by the electric vehicle boom and opportunities stemming from retail vacancies.
“While the direction of office usage remains uncertain, the 2023 Summer Forecast indicates that there is a light at the end of the tunnel for other real property asset classes, creating cautious optimism among industry participants,” said Allen Matkins partner John Tipton. “As interest and cap rates rise, we are working with many clients looking to navigate new development and investment opportunities, and engaging market- and sector-specific partners to capitalize on existing market conditions.”
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).