The CCIM/Landauer report says dollar volume of US deals was the fourth-highest since early 1995. The average deal rebounded above $20 million after two quarters of declines, it adds.
The report did reveal one quirk: Although the number of deals in the retail sector jumped 18% over the fourth quarter of 2001, the dollar volume fell by 23%. Also, nearly 45% of the deals came from the Pacific region.
"Statistics from the first quarter suggest that investors came off the sidelines in force with money to spend," says Cynthia Shelton, CCIM, president of CCIM Institute, in a statement. "Economic signs of a turnaround increased in early 2002, capped off by the government's revised gross domestic product estimate of 5.6% real growth. Overall, there is a general consensus that the recession has been both brief and shallow.
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