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Gross margins will be flat to slightly down this year as builders have less wiggle room to pass on costs as mortgage rates increase.
Interest in alternative sub-classes is rapidly growing and isn't likely to be a passing phase.
Rents will decline further over the next year as space give-backs push vacancies higher.
Atlanta, Austin, Charlotte, Dallas, Denver, Miami, Nashville and Raleigh are all positioned for further growth.
The average annual gross rental yield is 7.7% for 2021, down from an average of 8.4% in 2020
An argument can be made for downward pressure on cap rates for popular assets like industrial and multifamily and recovery types like senior housing and retail.
Pricing for self-storage as well is at record levels.
The firm's expectations for the office sector has shifted towards less severity in the near-term.
Overall rents increased by $3 last month to $1,399, marking the ninth consecutive month of either increase or stagnant growth
The tax could not come at a worse time for the New York real estate market, CREFC says.