Economic Reports Predict a Good Year for Commercial Real Estate
PNC Fianacial Group and National Board of Realtors Anticipate Lower Vacancy Rates / Higher Rents
Tuesday, March 21, 2006By Elwin Green, Pittsburgh Post-Gazette
A pair of economic reports issued last week, one locally and one nationally, offer strikingly similar projections for commercial real estate in 2006.
The "Real Estate Industry Outlook" by PNC Financial Group Senior Vice President Nick Buss and the "Commercial Real Estate Outlook" of the National Association of Realtors both anticipate a good year for commercial real estate, driven primarily by job growth and international trade.
Both Mr. Buss and the national association expect average vacancy rates nationwide to drop and rents to rise in all five of commercial real estate's major categories: retail, office space, industrial, multifamily and hotels.
Tuesday, March 21, 2006By Elwin Green, Pittsburgh Post-Gazette
A pair of economic reports issued last week, one locally and one nationally, offer strikingly similar projections for commercial real estate in 2006.
The "Real Estate Industry Outlook" by PNC Financial Group Senior Vice President Nick Buss and the "Commercial Real Estate Outlook" of the National Association of Realtors both anticipate a good year for commercial real estate, driven primarily by job growth and international trade.
Both Mr. Buss and the national association expect average vacancy rates nationwide to drop and rents to rise in all five of commercial real estate's major categories: retail, office space, industrial, multifamily and hotels.
posted by Proud Pittsburgh at 9:03 AM
0 Comments:
Post a Comment
<< Home