Since our last update on office property sales increasing, CoStar Group has reported that the volume of commercial real estate sales deals is well on its way to a more b normal level.b CoStar has yet to finalize its fourth-quarter tally, but already shows $36 billion in deals in the last quarter of 2010—up from $22 billion in the first quarter. From CoStar:
b The current transaction pace is very similar to that of the second half of 2002, with nearly identical third quarter volumes and likely comparable fourth quarter trading levels as well, according to Jones Lang LaSalle. The activity in both time frames is representative of more normalized, sustainable levels – much lower than the unprecedented lofty levels of the 2005 to 2007 boom, and much greater than the sales drought in 2009.b
And letb s not forget, deals in this new year likely will be more middle-of-the-road than those in 2010, which stuck to extreme ends of the spectrum: well-leased safe options and very distressed ones.
To follow all of our updates on the commercial real estate industry and current workplace trends, find Morris Southeast Group on Facebook and follow us on Twitter @KenMorrisBroker.
Image via yourbuilding.org
Tags: commercial real estate, Commercial Real Estate Trends, CRE, CRE blog, Morris Southeast Group, office property sales, sales volume improves, transactions
