Four Factors Bolster CRE Investors’ Near-Term Outlook

Investors have begun taking a more bullish approach to commercial real estate, Marcus & Millichap reported. A quartet of macroeconomic factors bodes well for the investment outlook, the company said in a new Research Brief.

One is a reset in pricing. With cap rates up by 80 to 130 basis points year-to-date from 2022 levels, investors have often sought out quality assets at below replacement costs.

Another is multiple tailwinds across property sectors, including multifamily, office, industrial and retail. Multifamily, for example, is bolstered by a slowdown in construction and monthly rents that remain below mortgage payments.

The interest rate outlook is also giving numerous investors a favorable disposition, according to Marcus & Millichap. The potential for regulation to free more debt capital is a related factor.

Finally, investors also see commercial properties as offering more durable returns in comparison to other asset classes.

Marcus & Millichap has scheduled a live webcast on Oct. 29 to discuss the 2026 investment outlook.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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