Suburban office growth accelerated to a 3.6% annual pace in March, while urban assets declined by 2.4% year-over-year, reflecting a continuing trend of suburban outperformance in the sector.
A new analysis from Real Capital Analytics shows that investor interest across all CRE asset classes is increasing, and prices across most sectors are going up. Suburban assets in particular are piquing the most interest; in February, prices increased 2.2% year-over-year.
High-end office assets in well-established markets continue to attract the eye of savvy investors: the market posted $10.5 billion in total quarterly sales, according to CommercialEdge data. Top sales in Q1 included The Exchange on 16th in San Francisco ($1 billion); 410 10th Ave. in Manhattan ($733 million); and The Crescent in Dallas ($700 million), which accounted for nearly 25% of the total $10.5 billion in sales over the quarter.
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