San Jose, Calif.
Forty-four percent of respondents recommended buying retail assets in San Jose, while another 50 percent advised current owners to hold their assets.
Orange County, Calif.
Orange County also got a 44 percent “buy” recommendation, with 48 percent of respondents recommending a “hold.”
Forty-seven percent of respondents voted on “buy” for Dallas/Fort Worth, while 31 percent advised investors to “hold.” According to the survey’s authors “Concerns about potential overbuilding are on the market’s mind, but the sentiment is that new construction is still justified at this time.”
Nashville got a 47 percent “buy” vote and a 41 percent “hold” vote.
More than half the survey respondents (52 percent) believe that retail properties in Boston are a “buy” right now, while another 24 percent recommended holding on to retail assets.
Fifty-four percent of respondents believe Los Angeles is a good place to buy retail properties right now, while another 33 percent advised existing owners to “hold.” Many industry insiders believe that the multifamily and retail sectors are the most under-supplied in Los Angeles today, PwC/ULI researchers note.
Portland received a 59 percent recommendation to “buy,” and a 32 percent recommendation to “hold.”
The retail market in Miami is red-hot right now, with 65 percent of investors believing the city is a good place for retail investors and 35 percent recommending a “hold” for existing properties. In fact, retail was judged to be the strongest of all commercial property sectors in the city today, “benefiting from good population and income growth, as well as the strong tourism component in the market."