NAR Commercial Real Estate Report Positive

Published by Stephanie on March 1, 2012

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The National Association of Realtors (NAR) reports vacancy-rate improvement across all commercial real estate sectors, although a majority of office and industrial tenants continue to enjoy concessions and discounts, and construction forecasts remain poor. NAR analysts predict vacancy rates will continue to shrink in 2012, which arguably translates to better market performance. More rent increases in the multifamily housing sector would appear to bear this out and areas experiencing the lowest vacancy (and therefore higher apartment rents) include New York City, Minneapolis, Portland, Oregon, and San Jose, California. For more on this continue reading the following article from Property Wire.

All of the major commercial real estate sectors in the US are seeing improved fundamentals, but multifamily housing is becoming a landlord’s market commanding bigger rent increases, the latest Commercial Real Estate Market Survey from the National Association of Realtors shows.

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Stephanie

Larry Webb represented UPCA Properties, LLC in the sale of their 3,678 sf medical office investment property located at 702 North A Street in Easley to a private investor.

Mark Ratchford represented the Landlord in the Leasing for a 2,800 SF office space located at 607 Pendleton Street in downtown Greenville. The tenant is a financial services company.

Gary Kirby represented seller Stud Dawg, LLC in the sale of a multi-tenant retail property at 755 John B. White Blvd. in Spartanburg, SC.