REAL ESTATE
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Demand Persists: There’s a slowdown in commercial real estate, right?
Not to hear commercial brokers tell it. Many brokers insist that tenants are still looking for space but that brokers have to look harder and settle for smaller deals.
The latest brokerage to weigh in is the Newport Beach office of Lee & Associates Commercial Real Estate Services Inc., which says its sales rose by nearly half during the first nine months of the year compared to last year. Profits, says managing partner John Bodenburg, are up 200%.
The office recently represented Kingston Technology Corp., a maker of memory devices for personal computers, in the $3.7-million purchase of a 52,000-square-foot building in Fountain Valley’s Landmark Business Park.
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