The recently published Summer 2025 Survey indicates that multifamily sentiment continues to be on a positive trajectory, and developers are looking more seriously at redeveloping office space into multifamily units. Yet, California’s housing shortage is an inescapable reality for many residents. Shawn Gehle, co-founder and principal of architecture firm Office Untitled, talks through the opportunities and the latest trends in the sector with Allen Matkins Partner Spencer B. Kallick.

Based on our Winter 2025 survey data, the industrial development pipeline in Northern California was projected to show a notable uptick in 2025, highlighting continued strength in the sector, particularly for last-mile delivery and AI-driven facilities. Scott Sowanick of Stream Realty Partners joins Spencer B. Kallick for a conversation about the state of play in the industrial sector.

As the industry continues to recover, new development is low, further reflecting a slowdown driven by shifting workforce patterns, such as hybrid or fully remote models. Limited new development is likely to lead to a future emphasis on the viability of retrofitting older office spaces to meet the demands of a more digital and modern workplace. In Northern California, office markets are adjusting to smaller, but more targeted demand, while in Southern California the picture is mixed. Spencer B. Kallick, a partner at Allen Matkins speaks to Pendulum Property Partners' Dan Wagman to analyze current and future office sector trends found in the Winter 2025 Allen Matkins/UCLA Anderson Forecast California Commercial Real Estate Survey.