What We're Seeing in The Market Today (Brokers Round Table)

Key Takeaways: - The commercial real estate market is slowing down significantly compared to last year, with brokerage volumes down 50% or more for many brokers. - Investment sales have dried up considerably, while leasing remains more active as companies still need space. However, cap rates have risen significantly. - The office market faces uncertainty, especially for Class B properties, but Class A properties and well-located spaces are holding up better. Co-working faces challenges after WeWork's issues. - Industrial, especially Class B, remains in high demand due to limited supply. However, there is a large amount of new Class A inventory that could face vacancies if the market pulls back further. - Retail fundamentals remain uncertain but some brokers see opportunities in Class B strip centers. However, new retail development is limited after the "retail apocalypse." - The brokers plan to focus on over-communicating with clients, thinking creatively for new opportunities, growing their teams, and ramping up prospecting and business development activities in the challenging 2024 market. https://www.tylercauble.com/podcast/episode180