Spencer Levy, CBRE's Global Chief Client Officer, delivered a bullish outlook of two more years of strong CRE growth in his keynote at GlobeSt's Net Lease Spring conference, held in New York on Tuesday, dismissing inflation concerns and rising interest rates as "a two-year-blip" during his presentation.
Levy predicted a "surprising upside" to a retail market he says is "undervalued overall by 200 basis points," surging industrial and multifamily markets "on cruise control" and an "evolving" office market that will see footprints shrink by less than 10 percent.
The CBRE exec underlined the euphoria of a seemingly endless tide of capital flooding asset classes by displaying a slide that instructed the in-person audience to "Don't Worry, Be Happy."
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