ORLANDO, FL -- The U.S. commercial real estate market
continued a slow, but steady recovery in the third quarter of 2013 (Q3 2013),
according to the latest analysis from CBRE Group, Inc.
 |
| Ron Rogg |
The office vacancy rate dropped 10 basis points (bps) during
the quarter to 15.1%.
The quarterly change was slightly slower than last quarter’s
20 bps decline but in absolute terms, vacancy was 50 bps below the Q3 2012 rate
of 15.6%.
However, the continued progress reflects the office market’s
ability to withstand the effects of the federal government’s spending
reductions – known as the “sequester” – while dealing with an already sluggish
pace of economic growth.
As core assets become more expensive, the 2014 Emerging
Trends in Real Estate report—a joint publication by PricewaterhouseCoopers
and Urban Land Institute—anticipates investors will expand their focus beyond
core markets to include other secondary markets.
For the first time
since 2007, commercial investment property sales may surpass $1.0 trillion,
according to Real Capital Analytics. Volume totaled $727.3 billion through Q3
2013.
Commercial and
multifamily originations saw a 29 percent year-over-year increase in Q3 2013,
driven by an increase in healthcare property originations.
For the complete copy of the company’s news release,
please contact:
Ron Rogg
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