U.S. CRE Prices Rise 0.7% in September, RCA Report Shows
Driven again by growth in the multifamily sector, prices of U.S. commercial properties increased 0.7% in September from the previous month. Research by Real Capital Analytics (RCA) shows the U.S. National All-Property Index increased 7.2% from a year ago.
RCA’s Elizabeth Szep writes, “ Price trends in September continued on the relatively-consistent path that has been shown throughout 2018 so far. Growth in national prices is being driven by gains in the Non-Major Metros, and there is a wider variation in growth patterns among property types this year compared with 2017.”
The apartment sector was the only property type still posting double-digit annual price growth. Multifamily prices rose 0.5% in September, and are up 10.7% year-over-year, according to RCA.
RCA reports apartment sector deal volume was up 12% for year-to-date 2018, compared with the same period a year ago. Transactions of single apartment assets, a key indicator of market health, set a record for the year to date.
Suburban office prices are up 0.4% in September from August, and 8.8% from a year prior.
Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services.
In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company.
In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix.
Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator.
Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements.
Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.
CRE courses for CE credits
Get CE course credits, centered around all things CRE. View our courses today!