US Commercial Property
...

RICS Commercial Market Survey (Q3)

Overall sentiment saw little change this quarter, but there was a notable reduction in office occupier demand and three-month rent expectations. The bigger picture is that, with no respondents viewing the market as cheap and other indicators having stabilised, there are signs that quarterly capital growth rates could have peaked.
Kiran Raichura Senior Property Economist
Continue reading

More from US Commercial Property

US Commercial Property Data Response

Commercial Property Lending (Dec.)

Commercial real estate debt ended 2021 with its largest monthly increase since the onset of the pandemic. Against a backdrop of strong investment activity, we expect commercial property lending to have a strong start to 2022.

17 January 2022

US Commercial Property Update

Comparing office occupancy changes across US metros

Combining the change in leased space with the rise in sublease availability gives a more complete picture of the change in demand across office metros since the onset of the pandemic. This gives a more intuitive match between demand patterns and rental trends that we have seen so far. This Update forms part of a set of publications that extend our existing office and apartment market analysis beyond the six major metros that we currently forecast. Over the coming weeks, we will be expanding our coverage to include an additional 11 US metros in our regular quarterly analysis and forecasts. That will include the release of a new metro focused Chartbook and enlarged office and apartment metro Outlooks.

11 January 2022

US Commercial Property Update

Key calls for US commercial real estate in 2022

The US economy is set to slow this year as elevated inflation and higher interest rates squeeze spending. Nevertheless, at the all-property level, we expect rental growth of around 3% y/y and NOI yields to see another large fall, driving double-digit total returns. Industrial will again be at the top of the table, with returns reaching 20%, but the three other major sectors should all see returns of close to 10%. We also expect another year of outperformance for the cheaper Sunbelt markets.

6 January 2022

More from Kiran Raichura

US Commercial Property Data Response

ULI Consensus Forecast (Fall 2021)

Consensus forecasts for 2021 have been upgraded in all four major sectors on the back of strong investor demand. But tellingly the picture is more varied for 2022-23, where industrial and apartment return expectations have been upgraded, but office and retail expectations are relatively unchanged.

27 October 2021

US Commercial Property Data Response

NCREIF Property Index (Q3)

The NCREIF index recorded a huge 5.2% quarterly return in Q3 thanks to further improvement in all sectors. With no sign of any let-up in investment demand, that puts annual returns on course to exceed 15% for the first time since 2007. Meanwhile, with a return of 10.9% q/q, the industrial sector is set for record performance of well over 30% this year, reflecting its status as the darling of the industry.

26 October 2021

US Commercial Property Focus

How pandemic changes will affect US metros

Americans are returning to cities, but the return to the office has been much slower. We see suburban areas being net winners in the residential and retail sectors, although the picture for downtown versus suburban offices is less obvious than the national data currently suggest. What is clear is that the winning metros will tend to be cheaper, and in mostly southern states. These will attract newly footloose workers, which will directly support the residential markets in those metros and will also have a positive effect on demand for office, retail, leisure and industrial space. In view of the wider interest, we are also sending this US Commercial Property Focus to clients of our US Housing service

22 October 2021
↑ Back to top