At the start of a new decade, the Business Journal asked developers and brokers what’s ahead in commercial real estate.
Several projects coming online in 2020 will impact the region, including Santa Clarita’s Needham Ranch in industrial, FivePoint Holding’s massive Valencia project in residential and Shapell Properties’ Vineyards in Porter Ranch for retail. At the same time, a presidential election and slower growth in the economy could damper the outlook.
But the economy poses a question mark.
“We are long in the tooth in the market,” broker John DeGrinis with Woodland Hills-based Newmark Knight Frank told the Business Journal. “We’ve gone 10 or 11 years without a cycle change.”
Read the full story in the Feb. 3 issue of the San Fernando Valley Business Journal.