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It also finds that securing loans has become difficult.
The higher rates "could send the market into a deep freeze."
There is a "logjam" in the CRE sales and financing markets.
Meanwhile single-tenant cap rates are expected to continue rising throughout 2023.
The deepest compression was recorded in Newark-Jersey City.
In seven of 10 metro markets, prices rise in the first quarter.
Fast Casual category leaders include Wingstop and Shake Shack.
Year over year growth in March slowed to 3.1%.
Buffalo, NY is the best metro for commuters, while the worst is in Riverside, CA.
The vacancy rate isn't rising as fast and absorption is expected to turn positive next quarter.