Thursday, December 5, 2013

U.S. Commercial Real Estate Market Continued Steady Recovery In 2013, According to CBRE Group, Inc.




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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