CHICAGO-Overall commercial real estate sales volumes have reverted to levels of roughly four years ago, according to Jones Lang LaSalle’s Spring 2008 US Investment Market Report. The report, which was issued earlier this month, says transaction volume plummeted in the first three months of the year to $39.2 billion, a 69% decrease from a year ago.

Report author Josh Gelormini, vice president of research for Jones Lang’s capital markets team, predicts volume will continue to be much lower into 2009. Though he notes potential for some acceleration in second half of the year, he says it won’t be sufficient to return transaction volume to previous levels. Furthermore, he says preliminary data suggests the drop-off in deal volume will be more severe in Q2 than in Q1, as the US and European economies worsen and Asian markets begin to suffer from the credit crunch and global repricing of risk.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.