The Business Times caught up with the leaders in commercial real estate and construction to ask about current trends in CRE and what’s on the horizon for their dynamic industry. What we found out? Health care and warehouse spaces are booming, smaller, more efficient retail space is trending, and is there a possibility of an invasion from Silicon Valley.
San Luis Obispo
Carpenter: Inventory is pretty tight, ranging from north SLO County to south county, particularly for office sizes over 10,000 square feet and industrial properties between 10 and 20,000 square feet. A lot of people are looking, but the supply is low so prices are creeping. When properties do become available they go quick.
Land prices are still pretty expensive in SLO which makes it difficult to build, given that there are also city and county fees, and it’s still a challenge to get projects approved.
Originally printed on October 4, 2019 by Pacific Business Times.