When COVID-19 hit, CREXi, anonline marketplace for CRE properties, saw search terms decline forcommercial real estate assets.
"The bottom [in searches] wasprobably a few weeks right after COVID pandemic came to fruition,"says Doug Shankman, SVP of Revenue at CREXi. "Late March was thebottom, and we've seen this V-shape return since. I would say wewere really back in May, but there was still some investor concernand some broker hesitancy. Brokers are winning additional businessin a variety of different forms, whether that business istraditional sales or auctions."
The decline in searches wasn'tnecessarily uniform.
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Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
