Outlook Brightens for Calif. Office, Industrial CRE

The latest semiannual release of the Allen Matkins/UCLA Anderson California Commercial Real Estate Survey gives Golden State real estate developers and their bankers a reason to be optimistic about the industry's prospects over the next two years.

The good news is driven by steady employment gains in coastal California in professional, technical, and scientific services; health care; users of office space; export-related sectors; manufacturing; and users of industrial space.

Although the national economy has given mixed signals in the past six months, California's markets for office and industrial space have made progress, albeit uneven, according to the forecast.

The survey, conducted by real estate law firm Allen Matkins, polled a panel of the state's real estate professionals in the office space and industrial sectors about various aspects of the commercial real estate market there. For a copy, visit www.allenmatkins.com/uclasurvey.