NEW YORK CITY-While every major product type has seen some type of recovery, expansion is expected to continue at a moderate pace this year, according to Collete English Dixon, vice president of transactions at Prudential Real Estate Investors, who spoke at NYCREW Network’s February meeting at Crowell Moring’s Midtown offices at 590 Madison Ave. on Tuesday night.

Predicting a return of CMBS, secondary markets and grocery-anchored retail, Dixon said recovering property fundamentals and a drop in the unemployment rate will help the commercial real estate market overall.

“I think we got here a little bit faster than everybody thought we would, but there is still a long way to go,” she said. “Slightly more than 1.6 million jobs were created last year. It is expected that this year will do a little bit better, but it is not a huge increase, but all positive movement is absolutely necessary for this growth index to continue.”