Commercial Real Estate Trends Accelerated by COVID-19
According to NAIOP, prior to the COVID-19 outbreak, the commercial real estate industry saw emerging trends forming. Since the declaration of COVID-19 as a pandemic, these trends have accelerated at a faster pace than the market initially anticipated. Although there will be short-term contractions, the commercial real estate industry will see long-term expansion, especially in the industrial and warehouse sectors.
“CRE was faced with technological disruption before the crisis” said Dr. Timothy Savage of New York University and a research economist for NAIOP. “This crisis is more of a natural disaster than a financial crisis.” According to Dr. Savage, these trends will have an effect on all sectors of commercial real estate industry.
Click here to find out how these trends will affect the industrial, office, retail, and hospitality sectors.
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