As a marker of the improving outlook for investment sales activity globally, CBRE reports that inquiry levels have risen domestically since the second quarter’s trough in activity. Volume of signed confidentiality agreements and transaction initiations reached 90% of pre-pandemic levels as of mid-October, according to a CBRE Viewpoint from a team led by Chris Ludeman, global president, capital markets.
This improvement has been driven by a variety of factors, including a gradual reopening of the economy and the federal government’s fiscal stimulus package. However, CBRE reported that inquiries have been uneven across property types, with multifamily leading the way, followed by industrial and alternative properties such as data centers, life science facilities and medical office buildings.
The improvement seen domestically is also occurring globally, with both inquiries and transactions rising, says CBRE. However, the firm reports, “a persistent upsurge in COVID-19 infection rates threatens to hamper the incipient recovery.”
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism.
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