West

2024 could mark a turning point – with the possibility in a few years that demand for office space will exceed supply.

According to the State of the Industry panel at the GlobeSt. Multifamily Fall Conference on Monday, there is no one worried about three years from now. Everyone is sort of waiting for that phone call saying that they have hit the bottom so they can jump back in, panelists say.

The 900,000-square-foot mega-warehouse will combine skilled workers with AI-driven machine learning programs and automated order-picking systems.

Q3 2023 office visits remained 3% higher than in Q2 2023 — and the highest this year, according to Placer.ai.

A constraint on supply combined with higher demand can make conditions look better than they are, however.

Overall strong fundamentals and new construction starts also contributing factors, according to Marcus & Millichap.

The chain has about 2,100 stores in 17 states, half as many as it did a decade ago.

Recession forecasts have been put to sleep, for now, but economic headwinds continue to affect multifamily investment velocity.