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CRE Leaders Retain Optimistic Outlook

A new survey from DLA Piper shows that optimism is tempered. but resilient due to confidence in real estate's long-term stability.

By Brian J. Rogal | brianjrogal | Updated on September 26, 2017

chi-Epstien_J1 (4) Jay Epstien, co-chair of DLA Piper’s global real estate practice

CHICAGO—DLA Piper released a new “State of the Market Survey” at its 14th Global Real Estate Summit in Chicago today, and the results show that most top commercial real estate executives remain optimistic . Sixty percent of the 222 surveyed were “bullish” on CRE’s prospects. That’s a big drop from 2014, when 89% expressed similar confidence, but considering we’re now seven long years into a recovery, it’s also a testament to the industry’s underlying strength.

“If you would have asked me two or three years ago, I would not have predicted the optimism would last,” John Sullivan, US chair of the firm’s real estate practice, tells GlobeSt.com. Several factors stretched out this recovery. “We did start from a very low point in 2009, and we have had very slow growth since then.”

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