C&W: 2013 Will Be “Less Uncertain” Than 2012

NEW YORK-As investors breath a sigh of relief after not going over the fiscal cliff—at least for the time being—and with both the Presidential election and the euro zone crisis behind them, they’re likely to create robust commercial real estate activity in 2013, according to Glenn Rufrano, president and CEO of Cushman & Wakefield, who spoke on Tuesday during the company’s fourth quarter market report and outlook briefing.

“We expect to see a 15% to 18% increase in investment sales this year,” he said. “2012 was the year of uncertainty and we believe there will be less uncertainty in 2013.” That relative clarity is likely to move markets, added Ken McCarthy, chief economist at the company.