October 14, 2015
The commercial real estate industry has not reported a lot of speculative development over the last few years due to lending issues and decreased demand, among other factors, that were brought on by the recession. But some sectors, especially industrial, have seen a major bounce back.
Medical office spec development is definitely back on track lately as well. One major example is Downtown West Medical Offices, in Los Angeles. That 60,000-square-foot building is being developed without any tenants signed up.
A partnership made up of Wembley Realty Advisors, Robhana Group and Matar Pacific plan to break ground on the project during next year’s third quarter.