Market Reports
Industrial Transactions Still Muted as Bid-Ask Gap Holds Firm Â
Sellers have yet to readjust price expectations, as buyers are unwilling to pay high prices amid expensive and limited financing options.
National Office Sales Volume at $25 Billion Through the First Three Quarters of 2023
The average sale price per square foot fell 21% Y-o-Y, with properties trading at an average of $198 per square foot through Q3 2023.Â
2023 Industrial Construction Starts Dip One-Third from Last Year
Competition for industrial space will increase in 2024 and 2025, but we anticipate construction starts to pick up again in 2026.
Office Vacancy Rates Continue to Rise Despite Return-to-Office MandatesÂ
The U.S. office vacancy rate reached 17.5% at the end of August, rising 260 basis points over year-ago figures.
Loans on Nearly 1 in 5 Class B Offices to Mature Soon. Where Are the Hotspots? Â
Loans on 18.1% of Class B assets — encompassing 594.2 million square feet — will reach maturity by the end of 2026.
Industrial Sector Pinched by Interest Rate HikesÂ
As capital has become scarcer and more expensive, industrial construction starts and sales have slowed down in 2023.
Life Science Sector Cools but Still Represents Nearly One Third of Under-Construction Office Space
As office construction continues to cool, a quarter of under-construction office space is now concentrated in just 6 life-science-heavy markets.
Industrial Sales Volume Reaches $21.2B at the End of Q2
The sales volume dropped significantly compared to the $55 billion recorded during the same period last year.
U.S. Office Sales Total $14.8B Halfway Through 2023Â
From January to June of this year, office properties have been trading at an average price of $199 per square foot.
Industrial Development Continues to Slow as Demand Normalizes
New starts continued to moderate across top industrial markets in the U.S., with few exceptions, such as Phoenix and Dallas.
