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But the CRE and the broader financial markets will avoid worst-case scenarios.
The top 10% of spaces continue to outperform the rest of the market.
Companies that act now are going to be ready to comply and more importantly will likely have a competitive advantage.
It could also lead to a prolonged period of elevated cap rates.
Over time, leasing volume may not reach its recent highs as more firms look to have greater space efficiency.
Markets in the Sun Belt offer savings compared to major US tech hubs, as do Canadian markets.
Investment volume hit $167 billion in the quarter, with the trailing four quarter figure registering $881 billion.
New York, Hawaii and New Jersey lead the way.
New building filings increasing 19% in the second quarter.
The life sciences sector is buttressed by many factors.