Good afternoon investors! In today’s commercial real estate news -we’ll look at how investors are becoming more uncertain about the current market cycle, how the Internet of Things (IoT) is affecting commercial real estate, office vacancy rates remain unchanged mid way through 2017, and much more.
In May, the percentage of survey respondents who said they were “not sure” where we are in the cycle rose to 10 percent.
The average asking rent, meanwhile, rose 2 percent since the start of 2017 to a record high of $4 per square foot per month.
The commercial real estate (CRE) industry is on the verge of a major disruption: the Internet of Things (IoT).
According to CBRE, vacant office space in the U.S. remained unchanged during the second quarter of 2017 at 13 percent. The steady performance was attributable to a balance of supply and demand.
Retailers are flexing their muscles in lease talks as landlords scramble to keep space filled.
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