It's a Perfect Storm for California's Commercial Real Estate Market
California commercial real estate is booming once again. During the past six months the average value of newly issued permits for non-residential construction after adjusting for inflation was the highest it had been since the middle of 2001. And more projects are getting ready to start, from sports venues in Sacramento and the Bay Area to multi-use buildings in South Park Los Angeles and the East Bay, to new tech complexes in Silicon Valley and Silicon Beach, the Golden State's commercial construction has returned. But for how long will this spurt in a highly cyclical industry last? Apparently for some time is the view of the survey panels of experts and developers who participate in the Allen Matkins UCLA Anderson Forecast bi-annual survey of developer sentiment.