San Diego
Falcon Real Estate’s office in San Diego is one of our most important offices since it covers the major real estate markets on the West Coast, including Los Angeles, San Francisco, and San Diego in California, together with Seattle, Washington and Portland, Oregon. Population growth continues in the Pacific northwest, but growth has slowed in California as the state struggles with the effects of the recession. California, however, continues to be a dominant component of the U.S. economy and its commercial real estate market is one of the most important in the country. Los Angeles is now the second largest metropolitan area in the nation, with a current population of over 16.3 million. The city has the world's 11th largest economy, ranking just behind Canada and Spain and ahead of India, Mexico and the Netherlands in terms of total gross domestic product. There are a number of attractive real estate markets within Los Angeles, including Beverly Hills, Glendale and Orange County.
The San Francisco metropolitan area includes both Oakland and San Jose. The three cities together have a total population of slightly over 7 million, and represent the fifth largest metropolitan area in the country. San Francisco itself is limited by its geographical boundaries, and both San Jose and Oakland are larger. The San Jose area, which includes the area known as Silicon Valley, has had the fastest growth of the region.
The Seattle economy is relatively strong, receiving major thrusts from three sources: software, aircraft and international trade. The city has become the software capital of the world, with Microsoft and other software companies showing phenomenal growth. In addition, the outlook for Boeing, the largest employer in the region, continues strong. At the same time, the Port of Seattle (the shortest route between the Pacific Rim and the U.S.) continues to grow rapidly, attracting a large percentage of U.S. trade with Pacific Rim countries.
The San Diego office is also important for Falcon Real Estate since our asset management activities are centered in this office. All of Falcon’s asset management activities around the country are directed from our San Diego office, although asset managers are also located in our offices in Chicago, Dallas, Washington and New York.