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Many developers will be forced to delay or cancel projects over the next five to seven years.
The dizzying rise in material costs is making existing assets more attractive from a replacement-cost perspective.
Many markets are beginning to see potential price discounts due to poor ESG performance.
"This is not the 'retail apocalypse' or a step towards the 25% delinquency rate in the hotel space over the last year."
Landlords will likely take "a harder line" in 2021 with lagging retailers.
But hybrid work will still be a part of many companies' plans.
"Acquiring new residents is important but it's not enough to stay competitive."
Industrial prices dropped 6.68% over April figures, forcing cap rates up slightly in response.
"The challenging hiring climate has direct and indirect implications for commercial real estate."
Small cities are leading this trend due to a "residential recalibration" from urban areas to more suburban locales.