180: What We're Seeing in The Market Today (Brokers Round Table)
with Chad Griffiths, Jesse Fragale, and Adam Williams
The Commercial Real Estate Investor Podcast · The Commercial Real Estate Investor Podcast
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Show Notes
Key Takeaways:
- The commercial real estate market is slowing down significantly compared to last year, with brokerage volumes down 50% or more for many brokers.
- Investment sales have dried up considerably, while leasing remains more active as companies still need space. However, cap rates have risen significantly.
- The office market faces uncertainty, especially for Class B properties, but Class A properties and well-located spaces are holding up better. Co-working faces challenges after WeWork's issues.
- Industrial, especially Class B, remains in high demand due to limited supply. However, there is a large amount of new Class A inventory that could face vacancies if the market pulls back further.
- Retail fundamentals remain uncertain but some brokers see opportunities in Class B strip centers. However, new retail development is limited after the "retail apocalypse."
- The brokers plan to focus on over-communicating with clients, thinking creatively for new opportunities, growing their teams, and ramping up prospecting and business development activities in the challenging 2024 market.
https://www.tylercauble.com/podcast/episode180