Globest Sectors

The REIT has completed its strategic exit from the sector with the sale of a Charleston, SC student housing property.

823 Congress, a 190,254-SF office and retail property, has been acquired by DRA Advisors and Pillar Commercial.

With so many factors at play, getting a clear call on the immediate future is next to impossible.

Demand is expected to be between 25 and 30% lower than prior forecasts.

At the same time, cap rates compressed by 0.14% while occupancy rates picked up a 1% gain.

This generation's homeownership rate doesn't match up with Gen X or Baby Boomers.

The joint venture bets that flex offices, a good fit for hybrid work, will occupy 30% of office space by 2030.

Strategy should include balance to be most effective in today's competitive rental environment.