Long Beach CRE to remain unchanged | Inside Real Estate - February, 4th 2020 | Inside.com

Inside Real Estate (Feb 4th, 2020)

Long Beach CRE to remain unchanged

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8. The commercial real estate market in Long Beach, California, is expected to remain unchanged, as it was for most of 2019, new reports indicate. Low vacancy and a low rate of new construction should mean low buys and sells but may increase the price of rentals. The low inventory of new spaces has also meant that last year brought some of the area's highest annual rent renewal rates. Lance Ryan, executive vice president and COO of Watson Land Company, said: “A lot of that is driven by the fact that there really aren’t alternatives. Even if somebody really would like to expand or has a need to relocate to reconfigure their operation, there just aren’t a lot of options available.” - LONG BEACH BUSINESS JOURNAL

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