Globest Sectors

In May, 56% of homes in car-dependent neighborhoods sold for above asking price, versus 36% of transit-accessible homes.

More than 50% of mid-size tenants have either re-occupied or backfilled their space instead of subletting them.

The nearly 600,000-square-foot property accounts for half of the industrial construction pipeline in the market.

The ownership and improving market fundamentals made the deal attractive to the lender, Square Mile Capital Management.

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.

"The slight shift, following a few months of minimal change, indicates that the market is settling into a return to normalcy."

The uptick in preleasing is mirrored in investment activity in the sector.

From Q1 2016 to Q1 2021, medical office cap rates averaged 20 basis points lower than suburban offices.