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Construction starts contract by 20% as pipeline shrinks.

The outlook remains cloudy heading into 2025.

One of the most significant trends was the evolving perception of the office sector.

The activity was led by large deals.

Almost every major retail category saw improvement.

It comes after the company raised $8 billion for a CRE fund.

It’s the first general decrease in five months.

Class B and C rents continue to fall, drawing tenants that want ‘cost-effective options.’