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Anything that transitions from “alternative” to “essential” takes time, right? As someone who has lived and breathed commercial real estate for the better part of nearly three decades (I know, I don't look that old), it still amazes me how long it takes for true change to occur in our industry.

Economic calamities, like the one we just survived—or, I should say, keep surviving—are really nothing new, though the latest recession was a doozy. With the passing of each mess and subsequent recovery, we hear the same familiar song: real estate will now go mainstream in the eyes of institutional investors. After all, they do need the help since public pension funds returned an average of just 5.7% over the past 10 years, according to the National Association of Public Retirement Administrators.

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