NEW YORK CITY-Commercial real estate is performing stronger than people expected. Sales are up 27% this year, and investor interest is on the rise for the industry, said Hessam Nadji, managing director of research and advisory services at Marcus & Millichap, who spoke on CNBC’s Closing Bell.
He also spoke about how apartments are consistently the industry’s strongest sector and how valuations continue to rise. There is also an expectation that commercial real estate will continue to perform well in 2012.
Another thing to look forward to is a movement toward buying assets that aren’t blue chip, which are attracting the majority of the dollars in this market. Click here to watch the Nadji’s whole Closing Bell video.