According to a recent report from Forbes, the outlook for commercial real estate continues to improve for 2014. This includes the office market and contractor spending.
Highlights include a forecast for expanded industrial deliveries, leading to new project development and a need for more industrial space. Retail is currently seeing absorption, but that rate has contracted.
Considering two percent inflation, retail spending still increased by more than four percent. Retail investments are perking up as well, as retail and office construction should be atop the leaders in percent growth next year.
Recession is still a key concern for commercial real estate, but the Wall Street Journal’s recent economic survey has edged the chance of recession down from 20% to only 17%. This is the only thing holding back a potential boom for commercial real estate.
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