February 5, 2016
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