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August, 2014: Commercial Properties Advance to 2007 Peak.

Commercial Overview: 

Commercial Properties Advance to 2007 Peak, with pricing for retail properties are now within 11.4% of it's previous high. The retail index rose 15% over the 12 - month period, the strongest annual gain among the four major property types, according to the CCRSI. Overall industrial and office property prices are within 14.4% and 21,2% of their previous highs, respectively, while pricing in the multifamily sector, is now 1% above it's previous peak. The retail market continues to change though with national tenants notlooking fornew locations as they were in the past. Many operators, such as Boarders, have shutdown, or in the case of Best Buy, are downsizing. Aside from your largest retailers such as Walmart and Target, all other concepts have faded or evolved. The 40, 000 - square-foot retailers are becoming 20,000SF, and 20,000SF tenants are becoming10,000SF. Restaurants and discount stores, however are doing verywell. Even with rents rising, retailers such as 99Cents only stores, Marshals, and Rose Dress for Less are expandin. Given their success, they remain a good option for vacant boxes which is great news for property owners. 


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