CB Richard Ellis Group CEO Brett White says all commercial real estate indicators are “100 percent positive”.
The firm oversees billions of dollars of transactions a year and employs nearly 30,000 people in 425 offices and affiliates. He was recently interviewed in the Washington Post and painted a rosy picture that gels with recent moves we’ve seen locally.
He says “Vacancies have clearly peaked in almost every market and every asset class. Rental rates we believe now have troughed in nearly every market and every asset class.”
Which rings well in our investor clients’ ears, though many in the larger marketplace had expected a flood of distressed properties into the market that never came. White said “we never really saw a large influx of distressed assets hit the market at distressed pricing.”
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