As we passed the six-month mark since COVID shut down the economy, commercial real estate transactions are starting to pick up, according to NAIOP's latest monthly survey of its US members on the impacts of COVID-19.
In September, more respondents told NAIOP that they had witnessed more industrial, office and multifamily deals than in the month before. Industrial is seeing more activity than other CRE sectors, with an increase in both transactions and new development activity. In July, less than 50% of industrial respondents reported seeing new development activity. Now that number is up to almost 60%.
Overall, deal activity has improved substantially since April. Half of the respondents reported seeing no industrial deals and two-thirds reported no office or multifamily activity. All three sectors are better positioned than retail, where 79.8% of respondents reported seeing no deal activity.
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Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
