N EW YORK CITY—It's been said frequently, and anecdotally, over the past several months that the current global uncertainty makes US commercial real estate look like an even safer investment bet. “When the sky is falling, real estate is usually at the bottom of the 'sell' list,” thanks to the illiquid nature of the asset class, writes Heidi Learner, chief economist with Savills Studley, who provides some hard evidence on why this is the case.NOT FOR REPRINT
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