Magazine article Mortgage Banking

Investors Show Confidence in Commercial Real Estate. (Commercial)

Magazine article Mortgage Banking

Investors Show Confidence in Commercial Real Estate. (Commercial)

Article excerpt

ACCORDING TO A REPORT BY CHICAGO-BASED CCIM Institute and New York--based Landauer Realty Group Inc., CCIM/Landauer Investment Trends Quarterly (ITQ), investors showed confidence in commercial real estate by allocating a near-record amount of dollars to property purchases in third-quarter 2002. The $13.79 billion recorded in the ITQ sample during the third quarter was the second-highest level over the past eight years, and registered a modest increase from the previous quarter's total. The number of transactions recorded also ranked as the second-highest total since the ITQ debuted in 1995. The transaction count for third-quarter 2002 showed a 33 percent increase over the same period in 2001.

Vacancies in the office sector climbed to 15.1 percent in the third quarter, up from 10.2 percent in the third quarter of 2001. The industrial and multifamily markets saw smaller, but significant increases. Industrial property vacancies increased to 11.4 percent from 9.5 percent, and apartment vacancies increased to 9. …

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