USC Lusk Center Releases Casden Forecast: Industrial Markets Coming Back, Office Markets to Languish
Wireless News
... Southern California's office markets will continue to be weighed down by the recession next year, but the industrial markets could recover owing in part to growth in India and China fueling demand for U.S. goods, according to the 2010 Casden Industrial and Office Market Forecast released by the University of Southern California Lusk Center for Real Estate.
"Heightened traffic at the ports of Los Angeles and Long Beach will create more jobs and an increased need for warehousing across Southern California. And the expected growth in green technology, education and healthcare should bode well for the recovery of LA's office markets in 2011," said Tracey Seslen, Ph.D., co-author of the Casden Real Estate Economics Forecast. "Considerable downward pressures on office rents will continue, however, due to job losses across the board. The resulting drop in the value of many vacant office buildings will present new opportunities for cash buyers willing to wait out this downturn."...