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While continuous improvement is needed, the economy is recovering from the COVID-19 pandemic. 2022 will build on the recovery that is already underway both in the macroeconomy and in commercial real estate markets. However, don’t expect commercial real estate markets or the rest of the economy to go back to exactly as things were before the pandemic. The pandemic was more than just a shock to aggregate demand. It changed the way people live, shop,…

Evidence of the supply chain crisis we are facing is hard to miss. Right now, off the coast of Los Angeles, over 80 large container ships are sitting idle waiting to dock and offload their cargo. The ramifications of this and other bottlenecks in our global supply chain system have caused a backlog of nearly $3 billion in goods that have been ordered but not yet shipped, according to U.S. Census data.1 What caused this…

When the pandemic engulfed the world last year, few analysts predicted that the multifamily sector would flourish and thrive so well. Most suspected that the sector would be on life support. Yet, despite a yearlong national eviction moratorium, there hasn’t been a better time to be a big apartment-building landlord. Multifamily-property values have increased 13% since before the pandemic and more money is being invested now in apartment buildings than in any other type of…

INDUSTRIAL OVERVIEW: Q3 POSTS MORE RECORD DEMAND Pandemic-fueled consumer spending drove up third-quarter demand for warehouse and distribution facilities that eclipsed previous records. And despite a nationwide surge in new construction, some metros can barely accommodate the pace of tenant expansion.  Additionally, year-over-year rent growth is at a record 6.7% for the industrial property sector as a whole and 7.9% for logistics facilities.  The national vacancy rate fell at the fastest pace ever in Q3,…