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However, starts are expected to continue to decline this year.
For starters, pressure to put cash to use is building.
So far it has raised half of that amount.
The four assets are 99% leased and located in Phoenix, Southern Florida and Chicago.
Green Street's property price index rose 0.3% for the month.
The average asking rent growth for the sector was 6% last year.
The transitioning market in New York is ripe for a nimble boutique advisory like Stacom CRE, she says.
The sector is experiencing both strong tailwinds and headwinds.
Not surprisingly, different regions are behaving according to local trends.
Not surprisingly, the wave of supply in most markets is playing a role.