NAIOP 2022 Chair Jeff Milanaik shared this message with the board of directors during the Annual Meeting, held at CRE.Converge 2022 in Chicago. It has been edited for clarity and length. What a year it has been! We knew from the beginning that 2022 was going to be a rebuilding year for the economy as […]
While some economic indicators, including employment numbers, consumer confidence and inflation appear to be trending positively, the commercial real estate market is still contending with the challenges of the past two years. The once-booming office sector in Chicago and the surrounding suburbs was hit particularly hard; many companies have been slow to transition employees back […]
“What’s happening in the economy overall is complex,” said Christopher Thornberg, Ph.D., founding partner of Beacon Economics and keynote speaker at NAIOP’s I.CON West: The Industrial Conference this week in Long Beach, California. “Fourth quarter 2021 GDP [gross domestic product] was 6.9% and February unemployment was 3.8%.” Those numbers look good, he said, but tell […]
The post-recession economic revival is well underway, supporting the revitalization of most commercial real estate sectors, but evolving demand drivers have structurally changed the industry’s investment outlook. As elevated market liquidity and low interest rates align with changes in the marketplace, investors have adapted their strategies, dramatically altering the commercial real estate investment landscape. At […]