Via PRWEB | Released April 26, 2012
According to the National Association of Realtors (NAR), improving fundamentals means a more positive trend in commercial real estate markets is expected for 2012. Kevin M. Levine, EVP of commercial real estate brokerage firm, Peak Commercial, representing buyers and sellers in retail, multi-family, single-tenant net-lease properties, office building, industrial, land and REO commercial transactions, is cautiously optimistic about where the commercial real estate market may be headed this year. Per Levine, “I think we’re still a couple of years away from any significant upswing in commercial real estate markets but with interest rates continuing to stay low, and the continuing volatility in the equity markets, there are only so many places to invest. Savvy investors are viewing commercial assets, especially multi-family properties, as a sector worth noting.”
USC’s recently-released Lusk Center Multi-family Forecast shows that rents rose last year in almost all of the region’s sub-markets and they are expected to continue to rise over the next two years. NAR’s latest Commercial Real Estate Outlook projects that multi-family housing is likely to see vacancy rates drop below 5% in 2013. Levine explained, “When vacancy rates drop below the 5% level, it’s generally considered a landlord’s market where supply and demand kicks in – more demand; low supply; higher rents. Multi-family property investors could definitely be the winners in this scenario.”
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Contact: Kevin M. Levine
Phone: 818.591.3300
Email: kevinl@peakcommercial.com