This smaller town newspaper has a nice story on California commercial real estate investors selling out and re-investing in cheaper markets.

Real estate experts say investors increasingly have been cashing out here on the sale of commercial real estate property, which, unlike the single family home market, is holding its valuation just fine in a strong state economy.

Then they’re looking to buy comparable property in pockets of the United States – mainly in the Southeast, Texas and the Midwest – where they get a bigger bang for the buck, and the rents there are still pretty good.

California commercial real estate has done better recently than single family residential.

This year and last year, commercial property in California saw 10 percent to 15 percent annual gains for office and multifamily housing, he said, better gains than in the previous several years.