March 2025 Market Update
President Donald Trump, trade wars, and a potential ceasefire in the Russia-Ukraine conflict were key topics at MIPIM, the real estate conference in Cannes that drew 25,000 delegates last week. The real estate industry is eager to invest again after a few sluggish years caused by rising interest rates. Bisnow's Mark Faithfull reports that Savills [...]
February 2025 Market Update
Major cuts to the federal workforce are happening as Elon Musk and President Donald Trump seek to reduce headcount. Approximately 75,000 federal employees accepted a resignation offer, representing about 3.3% of the 2.3 million eligible workers. The real estate market is closely monitoring these cuts, which are part of broader reductions underway in federal real [...]
CRE Market in Trump’s First 100 Days
Donald Trump’s return to the White House is likely to change commercial real estate. This could begin today as he plans to sign several executive orders. One key program from his first term, Opportunity Zones, might expand and bring in billions for real estate investment. However, his plan for mass deportations could worsen labor shortages, [...]
October 2024 Market Update
Office vacancy in Manhattan has hit a three-year low, while Boston office leasing has reached a two-year high. LA office leasing has reached its highest level since Q1 2020. Additionally, the availability of Class A office space in Chicago has decreased for the first time since the pandemic. Even San Francisco, which has struggled the [...]
September 2024 Market Update
In August, the U.S. economy added 142,000 jobs, which was slightly below the expected 161,000 jobs. This suggests a slowdown in the labor market but could also lead to the Federal Reserve lowering interest rates later in the month. The unemployment rate dropped to 4.2% as the labor force expanded by 120,000, maintaining a 62.7% [...]
October 2023 Market Update
U.S. commercial property prices resumed their decline in Q3 as interest rates once thought to be inconceivable have become the norm, and will likely continue for at least the next 24 months. Retail rent has increased 11% since the end of 2019 and 4% over the past year as retailers enjoy surging sales amid limited [...]
September 2023 Market Update
The challenges facing the office market are broad, and especially pronounced at high-profile buildings in the largest urban markets. National office vacancy hit a record 13% in Q3 2023. Downtown office attendance is at half of its pre-pandemic level, based on keycard data. On a bright note, suburban office properties showed exceptionally robust net cash [...]
August 2023 Market Update
In the industrial market, net absorption is 30% below pre-pandemic levels. New construction will likely outpace tenant demand for at least another two or three quarters. Industrial rent growth has begun to decelerate from a peak rate of 12% in mid-2022 to 8.5% as of mid-2023. Still, the industrial market remains strong in nearly all [...]
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