Commercial Real Estate is Bouncing Back!
The commercial real estate industry is making a comeback in multiple sectors, including office and retail with industrial holding steady. According to SIOR, “Commercial real estate (CRE) is rebounding at a record pace, with the office sector finally making its comeback. Market confidence grew to its highest on record, at 7.6 (out of 10). The largest increase was seen in the office sector, rising from 5.9 in Q1 to 6.7 in Q2. Industrial confidence remained steady at 8.0.”
According to the National League of Cities (NLC), “U.S. retail sector recovers faster than expected.” NLC also believes a few trends will change the future of retail, including experience-based retail, which will continue to grow, retail that is evolving and utilizing new technologies, and the demand for mixed-use retail spaces, which is on the rise.
Saunders Seismic specializes in industrial seismic retrofits and services all asset classes of commercial real estate including office, retail, multi-family, and mixed-use. For more details, contact us today.