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News release

SAN DIEGO, CA

Jones Lang LaSalle Launches San Diego Year-End Insights Video Series

Capital Markets videos focus on positive market conditions and advice for 2014


SAN DIEGO, Nov. 14, 2013 — As San Diego developers, landlords, tenants and others in the commercial real estate industry strategically look toward 2014, Jones Lang LaSalle has launched a video series that recaps market performance of the past year in various sectors and provides guidance as to where the industry is heading.

Each video offers the viewer significant, focused information to better understand local real estate conditions and opportunities.  The videos are presented in three main categories that reflect important industry sectors in San Diego – capital markets, healthcare and development - and feature Jones Lang LaSalle brokers in the firm’s local office.

The videos run less than five minutes long and are a personalized way to deliver vital material. The brokers featured are experts in their fields and the information discussed is at the core of what commercial real estate industry professionals need to know.

The capital markets videos feature Jones Lang LaSalle brokers Darcy Miramontes, Executive Vice President, with a specialty in multifamily capital markets and Lynn LaChapelle, Managing Director, with an emphasis in capital markets investment sales.

According to Miramontes, “investors are very bullish” on San Diego’s multifamily opportunities as that sector has one of the strongest fundamentals of any commercial sector in San Diego. Rent growth is expected to be 3 – 5 percent through 2017.

Vacancies across the county are upwards of 5 percent, while in some submarkets they are as low as 2 – 3 percent. In Miramontes’ view, the low cost of debt, San Diego’s positive job growth projections and the high cost of owning a home locally have helped buoy the multifamily market. For investors, low interest rates and access to capital continue to be important factors. Her advice for clients is to stay current on market drivers, such as employment numbers and market fundamentals, like construction pipeline, and on the buy side, be aggressive. “San Diego isn’t a market that has a large downside so if you buy right or buy slightly aggressive, you’ll be fine in the long run,” she states in the video.

LaChapelle is “optimistic relative to where we are today and trending into 2014 because many of San Diego’s commercial submarkets have experienced sustained demand over the past two years”.  This sustained demand is prompting many investors to re-consider San Diego as most of the local submarkets are in recovery mode as indicated by Jones Lang LaSalle’s Clocks (see attached).

LaChapelle’s advice for 2014 keys upon each client’s investment parameters: “Value-add clients should consider well-located properties that have the potential to become appealing to today’s tenants. Those looking for a core investment should focus on UTC, Del Mar, Sorrento Mesa and Mission Valley as these markets have strong tenant bases and historically have weathered the ups and downs of the market cycles.”

The Capital Markets videos are the first to be featured in the series. The Healthcare and Development videos will be featured in coming weeks. The videos are available on line at http://www.joneslanglasalle.com/San-Diego/en-us/Pages/insights.aspx

JLL is a leader in the San Diego commercial real estate market. The firm employs approximately 165 of the area’s most recognized industry experts offering services in brokerage, capital markets, facility management and project development services. In 2012, the San Diego team completed 4.58 million square feet in lease transactions, directed $57 million in project management, and currently leases 10.5 million square feet.

For more news, videos and research resources on Jones Lang LaSalle, please visit the firm’s global media center Web page http://bit.ly/18P2tkv.

About Jones Lang LaSalle
Jones Lang LaSalle (NYSE:JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual revenue of $3.9 billion, Jones Lang LaSalle operates in 70 countries from more than 1,000 locations worldwide. On behalf of its clients, the firm provides management and real estate outsourcing services to a property portfolio of 2.6 billion square feet and completed $63 billion in sales, acquisitions and finance transactions in 2012. Its investment management business, LaSalle Investment Management, has $46.7 billion of real estate assets under management. For further information, visit www.jll.com.