The return of students to classrooms this fall will spur commercial real estate, says Marcus & Millichap in a mid-year report.

The firm says there will be a surge in hospitality, retail, and education-related job creation by the two million workers who have left the workforce to take care of children during the pandemic as primary schools come back into session and child-care tax credits reach parents.  The return of pupils to college towns and major metro submarkets that house universities will also deliver a boost.

Retail CRE will benefit from back-to-school this fall as the amount parents spend per child is slated to reach a new high this fall on items from apparel to tech, Marcus & Millichap notes. "In anticipation, brick-and-mortar stores and online vendors will bolster inventories this summer, driving import volumes and demand for warehouse space….. By expanding inventories some of these industrial tenants' will exceed their current storage capabilities, driving demand for available warehouse and distribution space prior to the holiday months."