Housing market dynamics may bode well for neighborhood retail, multifamily

Aug 23, 2023, 14:45 PM by Matt Mowell

The housing market is in uncharted territory as affordability is worse than it was at the height of the mid-2000s housing mania while the for-sale inventory is at a multi-decade low. So, what does this mean for commercial real estate?
The U.S. economy faces continued challenges

Aug 16, 2023, 14:15 PM by Matt Mowell

Recession fears have been top of mind, but an upbeat labor market, the resilient consumer, stronger-than-expected corporate earnings and falling inflation have engendered hopes from some observers of a so-called “soft landing.”
What CBRE's Cap Rate Survey tells us about the market

Aug 9, 2023, 14:59 PM by Matt Mowell

Our H1 2023 Cap Rate Survey results provide clues about how asset pricing has evolved during the year’s first six months.
A Harry Markowitz tribute: Modern Portfolio Theory and the case for U.S. real estate

Aug 1, 2023, 13:51 PM by Matt Mowell

The headlines say it's time to divest U.S. commercial real estate. But Modern Portfolio Theory finds that the optimal commercial real estate portfolio would include more than 50% exposure to U.S. real estate with the balance favoring APAC.
H1 2023 Cap Rate Survey Now Available

Jul 27, 2023, 11:30 AM by Matt Mowell

The H1 2023 Cap Rate Survey provides a fresh perspective of where market sentiment is trending. The CRS captures more than 3,000 cap rate estimates across more than 50 geographic markets to generate key insights from a wealth of data.
Like people and jobs, Dallas’s retail space marches north

Jul 19, 2023, 10:31 AM by Matt Mowell

In the 1990s, when regional malls held sway in American culture, the mega-sized Galleria and NorthPark Center were prominent features of Dallas’s retail landscape. Fast forward 20-30 years, and retail real estate has followed Dallas’s explosive population growth northward.
Suburban shopping is hip again

Jul 12, 2023, 14:40 PM by Matt Mowell

For the first time since 2006 the retail availability rate across America’s central business districts (CBD) today is higher than in the suburbs. Chalk it up to another enduring effect of the rise of remote work.
Multifamily vacancy poised to rise in all major markets

Jun 21, 2023, 12:05 PM by Dennis Schoenmaker

Multifamily vacancy rates, currently hovering near pre-COVID levels, are poised to increase. A moderate recession—which we believe will begin later this year—will temper household formation and lead to higher vacancy in every major market.
Industrial stock clustered around highway ramps in major logistics hubs

Jun 21, 2023, 08:41 AM by Matt Mowell

It is widely believed that Industrial real estate clusters along highways. We analyzed metro Atlanta, an important logistics hub serviced by multiple interstates and state highways, to test this hypothesis.
REIT valuations signal lower private asset values ahead

Jun 13, 2023, 14:37 PM by Matt Mowell

Transaction activity is down due to wide bid-ask spreads. Meanwhile, REIT implied cap rates have increased sharply, particularly for office space, as manifested in significant discounts to NAV. But a few distressed office asset sales suggest that REITs are on to something, and private-market devaluation will catch up soon.

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