World Economic

Optimism is returning in California commercial real estate with a turning point coming in 2013, according to a new forecast.

The Allen Matkins/UCLA Anderson Forecast Commercial Real Estate Survey cites a "distant glow of light at the end of the tunnel" in the state's office and industrial markets.

The survey includes the Inland Empire, East Bay, Silicon Valley, Los Angeles, San Francisco, Orange County and San Diego office markets. The survey compares the panel's forecast of what the market will be three years from now with today's market.

“After 18 months of pessimism about office and industrial markets we are now seeing indications that, after the markets hit bottom later in this year or early next year, they will follow the pattern of increased non-residential construction coming two to three years after the end of the recession rather than the pattern of a multi-year stasis in this sector,” said the report's author, Jerry Nickelsburg, a senior economist at UCLA Anderson Forecast paperless payday loans.

The report has been done since 2006 when it was initiated by the law firm of Allen Matkins Leck Gamble Mallory & Natsis LLP.

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