Commercial real estate generally saw brisk growth across the country in 2015, thanks to employment gains, increased spending and historically low interest rates.
The national industrial sector saw growth of 54% with sales of $76.5 billion, which was the highest industrial volume in the past 10 years, according to First American Title Insurance Co.
Sales of U.S. office space grew 16% to sales of $146 billion and the hotel real estate sector saw growth of 42% with sales of $49 billion.
Multifamily housing grew 32% to sales of $150 billion. This trend is expected to continue, with an estimated 1 million apartments projected to be built in the next three years.
Nationally, growth of the retail sector was essentially flat with sales of $88 billion.
What’s ahead for 2016? What effects will global volatility and the Federal Reserve’s recent interest rate hike have on national commercial real estate trends? Feel free to post your predictions below.
