Most commercial real estate markets are enjoying very low vacancy rates and healthy rental growth from an essentially sound economy, according to the latest Commercial Real Estate Outlook of the NATIONAL ASSOCIATION OF REALTORS®.
“Commercial real estate responds to economic growth and job creation, which have been fairly strong over the past two years and has created the need for additional commercial space,” says NAR Senior Economist Lawrence Yun. “These fundamentals will continue to support commercial real estate markets in 2008. There has not been much overbuilding in the commercial sectors, and investors are more diverse.” A record $257 billion was invested in commercial real estate in the first seven months of 2007, up from $146.7 billion in same period in 2006 — that total does not include transactions valued at less than $5 million, or of investments in the hospitality sector.
To access the latest commercial report from NAR click here