May 25, 2016
By: Daniella Soloway
This month, Connect San Francisco’s speakers led a series of panels that covered all the bases of San Francisco’s current commercial real estate market and their predictions for its future. With rents and occupancy at peak levels, the ubiquitous question asks if a downturn is near.
The Capital Markets’ and Economic Outlook panelists agreed that a correction is imminent, but it will not be remotely near the scale of 2008’s disaster. In terms of construction, loan volume is up, and despite even a slight recession, banks’ ability to lend will remain unscathed.
As far as job growth, everyone still wants to be in the City. As the nation’s tech hub, the Bay Area is attracting many employees and tenants. Mid-Market continues to boom and serve as a developer’s haven due to its transportation services, location, amenities and more, with mixed-use projects continuously coming online.
Affordable housing may be the biggest issue in the region, and the highly active political community that enforces propositions to ensure affordable housing could be promoting the exact opposite, according to panelists on the Office Development panel.
The event culminated with CRE’s Young Leaders covering everything from ways to source talent, what they wish they knew when they entered the industry, and how to build effective multigenerational teams. Read more here.