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 Commercial Real Estate Continues Uptrend
24-5-2006
The expanding economy is pulling commercial real estate along with it, creating strong demand for space. At the same time, institutional investors are returning to the market, according to a commercial market update and forecast presented here at the National Association of Realtors® Midyear Legislative Meetings & Trade Expo.
David Lereah, NAR’s chief economist, said the market fundamentals are improving. “Commercial real estate vacancy rates are falling and rents are rising as the economy expands and jobs are created,” he said. “Growth in the Gross Domestic Product is fairly strong and consumer spending remains healthy. Business spending is on the rebound, and the completion of new commercial buildings has shown positive growth over the last two years.”
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