ORLANDO—Wondering what to make of the recent REIS Reports mid-year update? Fred Schmidt, president and COO of Coldwell Banker Commercial Real Estate, has some keen insights.

From a high level, Schmidt tells GlobeSt.com a quote from the Urban Land Institute's 2015 Commercial Real Estate Forecast is appropriate for summer up mid-year 2015: “Sustaining momentum but taking nothing for granted.” Based on the supply-demand preliminary reports from REIS, Schmidt is seeing that prediction manifest in numbers.

“The office sector remains unchanged at 16.6%, however vacancy compression has moved consistently downward for the past two years,” Schmidt says. “The demand for office space reflects the positive employment numbers we have seen during the past year. As a result rents are up 3% which is consistent with demand supply variables mentioned above.”