Monterey, California Commercial Real Estate 0 Listings

Monterey, California: A Premier Destination for Commercial Real Estate

Introduction

Monterey, California, offers a unique appeal for commercial real estate (CRE) professionals. As a city with a population of approximately 28,000, Monterey is renowned for its robust tourism-driven economy and its position as a pivotal hub in the Central Coast region. The city's diverse industries, strategic location, and appealing quality of life make it an attractive market for various CRE asset classes.

Economic and Industry Overview

Monterey's economy is primarily driven by tourism, education, and defense. The city's scenic coastline and historic sites attract millions of visitors annually, bolstering demand for retail and hospitality properties. Additionally, institutions like the Naval Postgraduate School and the Defense Language Institute Foreign Language Center contribute to a steady demand for office and multifamily real estate. Regional economic development initiatives, such as the Monterey County Business Council, support industry growth and CRE demand.

Strategic Location and Transportation Infrastructure

Monterey's strategic location offers significant logistical advantages. It is accessible via major highways such as Highway 1 and Highway 68, and is served by the Monterey Regional Airport, which provides direct flights to several major cities. The proximity to the Port of Monterey offers additional benefits for industries reliant on maritime logistics. Caltrans provides comprehensive information on transportation infrastructure that supports Monterey's connectivity.

Commercial Real Estate Inventory & Zoning

Monterey features several key submarkets, including its historic downtown (Central Business District) and industrial corridors along Del Monte Avenue. The city's commercial real estate inventory spans various asset classes, including retail, office, and multifamily developments. Notable zoning updates and incentives, such as the Downtown Specific Plan, encourage mixed-use developments and are accessible through the City of Monterey's Planning Department.

Major Employers and Institutions

Monterey is home to major employers like the Monterey Bay Aquarium, Community Hospital of the Monterey Peninsula, and notable academic institutions such as the Middlebury Institute of International Studies. These entities play a significant role in driving demand for commercial spaces. A comprehensive list of top employers can be found in the Monterey County Business Directory.

Notable Commercial Developments & Projects

Recent developments in Monterey include the Cannery Row redevelopment, which integrates retail, entertainment, and office spaces. Public-private partnerships and Opportunity Zones further enhance Monterey's attractiveness for developers. Information on current projects can be accessed via the City of Monterey's Planning Department.

Building Permits, Planning, and Development Tools

For developers and investors, the City's Building and Safety Department offers resources for building permits and safety standards. The Monterey Parcel Viewer provides zoning information, while the Planning Commission oversees development applications. All relevant development codes are available online.

Market Data & Economic Reports

Monterey's market data can be explored through public datasets available on census.gov and the city's Open Data Portal. Brevitas leverages AI-powered aggregation of these public data sources, offering users enhanced insights through Brevitas-powered dashboards for the city.

Why Use Brevitas for Monterey, California CRE?

Brevitas stands out as a premier CRE marketplace in Monterey by offering AI-driven discovery, real-time market alerts, and smart property pages. Unique features include: