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Meanwhile, office continues its bumpy ride.
$72B poured into the US CRE markets over the last 12 months.
But few companies expect to maintain their current portfolio size, acknowledging that the greater adoption of hybrid work will impact their real estate footprint.
However, last-mile facilities will need to accommodate the new EVs as well as the charging stations that will power them.
Continued erosion in the office sector is part of the problem.
Consequently, transaction volume in the second quarter of 2022 was down approximately 15%.
Miami-Dade County is No. 1.
Staffing and a slowdown in lead conversions are affecting the pace of move-ins.
Macy's, Nordstrom, and JCPenney have strategically closed stores and seen foot traffic increase at their open locations.
An increase in more expensive homes listings could be why overall asking prices continue to soar.