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Spencer Levy Spencer Levy, head of research, Americas and senior economic adviser, CBRE

NEW YORK CITY—“The next five years are going to be a lot tougher than they were the last five years,” said Spencer Levy, CBRE’s chairman, Americas research and senior economic adviser, at a media briefing on real estate’s year ahead. “We’re seeing upward pressure on cap rates. We’re also seeing pressure on net effective rent with tenant improvement allowances. They are going up at a significant pace.”

Betsy Kim

Betsy Kim is the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.

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