As we continue to see industry conjecture on declining office markets, rent reductions of up to 10 percent or more per year are expected in two of the largest markets, New York and San Francisco, writes Mark Roberts, managing director of research at Crow Holdings, in a recent white paper.
The shift is not reflective of the full sector, and Roberts believes there’s more nuance with opportunity and lower risks in select markets. Markets such as Florida, Phoenix and San Diego may be favorable, with stronger footing and occupancy.
The white paper discusses whether recent negative real estate sentiment is actually concerning, or if the bearish picture may lack a balanced perspective. Contrary to trending headlines of doom in commercial property, Roberts sees promise in the apartment, industrial and retail sectors.
To read the full white paper, click
