“Is Triple Net Retail In A Death Spiral?” GlobeSt, ft. Joel Shackelford
The 14 triple net lease assets, located primarily in West and Central Florida, were sold to individual buyers for each location.
ATLANTA – When it comes to the commercial real estate, industry watchers have good news and bad news. It largely depends on what sector and what city. GlobeSt.com’s Jennifer LeClaire caught up with Joel Shackelford, a Los Angeles-based real estate partner at Kaufman Dolowich & Voluck, to get his predictions in this exclusive interview.
1. Commercial Leasing Vacancy Rates Stay Low
On the office and medical office front, Shackelford sees commercial real estate leasing vacancy rates staying low. He also predicts base rights are likely to increase, especially in areas like Los Angeles and San Francisco.
“With the new tax plan, businesses should have more money to spend on real estate,” Shackelford says. “Couple that with stagnant supply of space and rent will go up. Landlords won’t need to attract tenants in these times, so typical concessions like free rent and tenant improvement dollars should lessen.”