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CBRE’s Sulentic Predicts Opposite CRE Future Than Zell
CBRE’s CEO Bob Sulentic spoke with Fox Business about the company’s stellar 4Q performance and his overall premonitions for CRE in 2016, which create a much different visual than what economist Sam Zell foresees.
Despite the concern of some that a recession is on its way, Sulentic believes that several aspects in the cycle are telling a different story, including increasing occupancy and rental rates, promising job growth, and the changing ways in which people are using space.
Key highlights from the conversation:
• 4Q: CBRE saw 20% growth and expects it to continue
• 20% of CRE investment was from overseas, expected to continue (high inflow from Asia, especially to LA, SF, NY, and London)
• U.S. demand for new office space should exceed supply
• U.S. demand for retail should exceed supply
• Industrial is in balance
- ◦Economy
