Steady gains predicted for California commercial real estate market

Experts predict California's non-residential market will keep growing steadily for the next three years, but start to slow after 2016 or 2017. Above, the site of the former Wilshire Grand Hotel in downtown Los Angeles will be home to the tallest building west of the Mississippi River.

By Cale Ottens

July 10, 2013 9:24 AM PT

Commercial real estate industry leaders remain optimistic about the California market, according to a new report published Wednesday.

Allen Matkins, a California law firm, and UCLA Anderson Forecast publish the report twice a year to help predict future commercial real estate rental and vacancy rates.

The organizations polled a panel of California real estate professionals in the development and investment sectors of the industry to gain insight into their markets.

The experts predict the non-residential market to keep growing steadily for the next three years, but start to slow after 2016 or 2017. There will still be growth, the report said, but it will be at a slower rate.

To see a full copy of the latest Forecast California Commercial Real Estate Survey and Index Research Project, go to www.allenmatkins.com or www.uclaforecast.com

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