Net Lease

However, as Northmarq notes, 'the reality is likely less dramatic than some might suggest.'

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.

Class A office effective rents have fallen 1.2% since 2022, CBRE said.

When a market is land constrained the result is often not pretty for developers.

However, the pace of growth for commercial real estate will be slower in 2024 than it was in 2023.

As of Q3, here's what data from Northmarq shows so far.