August 5, 2020
In the fourth monthly NAIOP survey measuring the impact of the COVID-19 crisis on the commercial real estate industry, respondents say deal activity is improving across most major sectors of the industry. However, more now expect impacts from the crisis to affect their businesses for an additional 12 to 18 months.
“July continued a trend of positive growth in reported industrial, office and multifamily building acquisitions activity, with more respondents reporting having witnessed these deals than in previous months,” said NAIOP president and CEO Thomas J. Bisacquino.
The increase in building acquisitions activity was most notable for industrial properties, with 92.6% of respondents seeing these acquisitions in July, compared with 70.7% in June. Reported development activity also increased for industrial, office and multifamily properties in July, with the latest survey noting the first significant increase in office property development since April’s survey.
For comments, questions or concerns, please contact Paul Bubny