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Even with the stark number, 'industrial assets remain attractive to both investors and lenders,' says Northmarq.
Some markets are flourishing even as development nationwide slows.
But if prices are falling and transaction volume is measured in dollars, could it be that markets are in better shape than it has seemed?
But it's an almost certain bet that the sector won't meet what 2022 did.
Long Beach saw a YOY surge of 24% in November, L.A. grows by 19%.
Where will the Fed take interest rates next year?
Office properties will do worst, but weakening will extend across retail, hotel, multifamily, and industrial sectors.
But office continues to drag down the index.
As nonbank financial institutions take stronger positions in lending, regulators extend their own reach.
When a market is land constrained the result is often not pretty for developers.