Washington, 12/14/06 - "The commercial real estate markets are continuing to grow with record investment, and individual sectors in many areas seeing tighter vacancy rates and higher rents, according to the latest
Commercial Real Estate Outlook of the National Association of Realtors®(
NAR)."
"The office and industrial markets continue to shine, supported by job growth and trade, while the rental apartment sector is seeing healthy rent increases," he said. "The retail sector is essentially flat, but the hotel industry is doing better than at any time since 2001."
James Marrelli, NAR vice president of commercial real estate, said there is a record flow of capital into commercial real estate. "We're setting another record this year for investment in commercial real estate," he said. "Institutional investors, pension funds and foreign investors have focused on commercial grade properties to diversify portfolio assets, with expectations of solid long-term gains."
"Outside of the hotel sector, over $236.0 billion in commercial real estate transaction volume was recorded in the first ten months of 2006, up from $231.9 billion in the same period of 2005, not including properties valued at less than $5 million.
The NAR forecast for five major commercial sectors includes analysis of quarterly data for various tracked metro areas. The sectors include the office, industrial, retail, multifamily and hospitality markets. Metro data were provided by
Torto Wheaton Research and
Real Capital Analytics."
Source: NAR
Click here for full NAR news release and summary of the 5 major commercial sectors. Visit my web site for additional services and support:
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