There have been predictions on and off of a bottom to commercial real estate markets. Large buildings selling at big losses would increase. The pace of falling values would slow, hit zero, and start to turn up. Transaction numbers would increase. Vacancies start to drop.
But the real proof is in the selling. CBRE Group’s latest earnings offer evidence that office might be on its way back.
“U.S. office leasing delivered 28% revenue growth,” said chief financial officer Emma Giamartino during the recent earnings call. “Office occupiers are increasingly comfortable making long-term decisions, given improved return to office momentum and a healthy economic outlook.”
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