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Demand drivers are anticipated to change during the second half of this year as post Labor Day corporate travel should increase, and with schools reopening leisure travel will slow down.
We may see lenders dictating a change in the way landlords design their rent increases, and at the least, expect to see more re-trades as underwriters factor in "real return," or how the prevailing inflation rate impacts the asset's ROI.
New hotspots are emerging that offer many of the advantages of the top life sciences clusters, with similar access to talent and skilled workforce, but lower rents.
Pricing has become aligned with how aggressive the private debt funds have gotten in recent months and how aggressively priced multifamily deals have become overall.