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Buyers and sellers are diverging in their pricing expectations, "which led to a Q3 marked by tepid deal volume and pricing,” says Peter Muoio at Ten-X.
Absorption rate gains were concentrated in distribution properties located in core markets such as Dallas/Fort Worth, which also had some of the highest number of rooms under construction at 7,047.
Overall, commercial property pricing slipped in November for the seventh consecutive month, a trend that Ten-X's Peter Muoio says is a reflection of ongoing investor wariness.
Gov. Cuomo announced in January of this year that he planned to expedite the long-delayed project that will improve access in and around Woodbury Common as well as traffic on the New York State Thruway and Route 17. Originally work on the project was not expected to begin until 2022.
Tax reform, job growth and Airbnb all play a role in how the hotel industry will fare in 2018. GlobeSt.com speaks with Ten-X Commercial's Anthony Falor about how he expects these factors to play out.