The first half of 2013 commercial real estate transactions and results for apartments and office\/retail buildings are in. Using various online tools and interviewing real estate brokers that specialize in coastal commercial real estate, I have analyzed the first half of 2013\u2019s apartment and office\/ retail markets for commercial properties located in 92109. Apartments in 92109 have had: 11 sold transactions \u2014 six of which were “off-market” \u2014 totaling $22,962,500 sold, with an average capitalization rate (cap) of 4.69 percent, and an average price per unit equal to $185,181. Though most apartments were on the market for 30 days or less, the average market time was 137 days. In 2012, there were 23 transactions totaling $43,900,000 with an average cap rate of 5.08 percent.
\nOffice\/retail buildings in 92109 have had eight sold transactions, totaling $10,765,000 sold, with an average cap rate of 6.94 percent, and an average price per square foot equal to $334. The average time to market a property (before putting into escrow) was 228 days. In 2012, there were a total of 12 transactions. For both apartments and office\/retail buildings, the low cap rates, high prices and high velocity of transactions are clear indicators that we\u2019re in a seller\u2019s market, i.e., there is a low supply of apartments and office\/retail buildings listed for sale and there are a lot of buyers looking to invest. If you\u2019re considering selling your commercial real estate in a favorable market by the end of 2013, contact your local broker and get started with a free opinion of value.
\n\u2014 Tony Franco specializes in coastal commercial real estate and can be reached at (858) 717-1697.<\/p>","protected":false},"excerpt":{"rendered":"
The first half of 2013 commercial real estate transactions and results for apartments and office\/retail buildings are in. Using various online tools and interviewing real estate brokers that specialize in coastal commercial real estate, I have analyzed the first half of 2013\u2019s apartment and office\/ retail markets for commercial properties located in 92109. Apartments in […]<\/p>","protected":false},"author":726,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"11560","_seopress_titles_title":"Commercial real estate in 92109: So far, 2013 is a seller\u2019s market","_seopress_titles_desc":"","_seopress_robots_index":"","jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":[],"footnotes":""},"categories":[11560,11593],"tags":[],"class_list":["post-303406","post","type-post","status-publish","format-standard","hentry","category-la-jolla-village-news","category-no-images"],"_links":{"self":[{"href":"https:\/\/test.sdnews.com\/es\/wp-json\/wp\/v2\/posts\/303406","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/test.sdnews.com\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/test.sdnews.com\/es\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/test.sdnews.com\/es\/wp-json\/wp\/v2\/users\/726"}],"replies":[{"embeddable":true,"href":"https:\/\/test.sdnews.com\/es\/wp-json\/wp\/v2\/comments?post=303406"}],"version-history":[{"count":0,"href":"https:\/\/test.sdnews.com\/es\/wp-json\/wp\/v2\/posts\/303406\/revisions"}],"wp:attachment":[{"href":"https:\/\/test.sdnews.com\/es\/wp-json\/wp\/v2\/media?parent=303406"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/test.sdnews.com\/es\/wp-json\/wp\/v2\/categories?post=303406"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/test.sdnews.com\/es\/wp-json\/wp\/v2\/tags?post=303406"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}