Office

Have secondary markets become the new primary markets?

A "tectonic shift of capital" is coming to CRE, which could whip up valuations further.

Once COVID-19 hit, the sublet space increased dramatically, jumping 61.7%, while available direct space has surged by 50%.

In Q1 2020, leasing totaled just 2.0 million square feet.

"If investors believe people will return to the urban core, there could be opportunities to invest ahead of that movement."

For example, demand for industrial product was also more selective and deals in general focused more on lower cost-of-living markets.

There has been a 15% increase in the use of office space for collaboration during the pandemic.

Social distancing measures will eventually go away, but hybrid work environments are here for the long term.