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Industrial, Apartments Drive October Pricing Gains

Boosted by gains in the industrial and apartment sectors, U.S. commercial property pricing grew at a faster rate in October, Real Capital Analytics reported. RCA’s US National All-Property Index rose 3.6% from a year ago and 1.2% month to month, while the apartment index rose 7.2% year-over-year and the industrial index 8.5%.

“Multifamily has been one of the more stable assets during the current economic and health crisis, driven by activity in the secondary and tertiary markets,” RCA says. Year to date, apartment deal volume is down 40%, with only the industrial sector posting a shallower drop in volume.

Conversely, retail prices have declined 5.2% over the past year. First to register the pricing impact of COVID-19, the sector is now experiencing a low point in returns not seen since the end of 2010.

The office sector continued to fall at about a 1% annual rate during October, said RCA.

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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 13-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 15-20 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 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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