Better yields and more opportunities are attracting retail investors to search in other states like Florida, Tennessee, Washington and more
LOS ANGELES – March 14, 2018 – California retail capital is heading outside of the state in search of single-tenant opportunities. That isn’t to say this capital doesn’t want to be in California. The strong dynamics in the California markets has driven prices to all-time highs, making it difficult to invest. The chief issue, however, is the limited opportunities for investment: no one wants to sell their product. The trend is driving investors, especially investors completing 1031 exchanges, out of California into markets like Texas, Washington and Florida.
“Inventories are down, and there isn’t a lot of product here,” Eric Carlton, Executive Vice President of retail services at Colliers International, tells GlobeSt.com...
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