After years of struggle in containing the adverse effects of the 2008 global financial meltdown, the United States is finally seeing some clear signs of economic stability and gradual growth. One of the more reliable indicators of this is a consensus among forecasters and financial service providers that there will be a continuous rise in commercial property transactions over the next few years. Steve Brown of The Dallas Morning News reported on this in full detail:
Top real estate economists expect that commercial property transactions will rise over the next two years to levels not seen since before the recession – exceeding the volumes hit in 2006.
Total transaction volume will reach $430 billion by 2016, according to a new forecast by the Urban Land Institute and Ernst & Young. The just-released report is more optimistic than last fall’s industry outlook.
Economists surveyed in February and March predicted “consistent growth in the real estate industry, bringing some key factors back to pre-recession levels and others moderating to long-term averages,” Anita Kramer, vice president, ULI Center for Capital Markets and Real Estate, said in the report.
“Fundamentals beyond multi-family continue to improve with the retail sector now joining in.
“This overall outlook for real estate is supported by expected on-going improvements in the economy.”
As opportunities for businesses to grow become more apparent, investors and companies will continue to set aside funds to acquire real estate as it is now considered to be a top alternative-asset class. On the other hand, while the demand for commercial properties is expected to increase significantly, current construction efforts may not be quick enough to meet forecasted requirements. However, there are existing real estate owners and investors who would be willing to sell their holdings for commercial use.
Established Anchorage commercial real estate firms such as Graham Commercial Real Estate can help businesses purchase properties from current investors and owners to ensure that the buyers meet expansion requirements. Clients will be presented with a comprehensive listing of properties that are currently up for sale, and they will be scheduled for site visits to help them pick the location that best suits their needs. In addition, commercial real estate firms convey client offers to sellers and will try to secure a deal that is fair for both parties.
Aside from buying commercial space, these companies also engage in property management in Anchorage which means that they can present properties that are available for lease to their clients. Whether businesses are looking for commercial spaces to purchase or to rent, real estate firms can help them get whatever they need.
(Source: Commercial real estate forecasters see continued U.S. growth, The Dallas Morning News, April 1, 2014)