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US commercial property deals expand

10th November 2010 | back to article listings BACK    print this article PRINT

Experts in the US expect to see a 40% increase in commercial property transactions next year as the country's economy continues to expand.

Buyers and sellers are predicted to complete $92 billion worth of deals for apartment, office, industrial and retail properties this year, and transactions will increase next year as US gross domestic product grows to 2.5%.

Josh Gelormini, director of capital markets research at Jones Lang LaSalle, said investors will begin taking on more risk and apartment buildings will remain attractive as new construction remains limited.

Investors are also looking to take advantage of financing involvement from Fannie Mae and Freddie Mac to fund multifamily deals.

Rents in the downtown markets in major cities are starting to rise, while suburban markets in areas including Philadelphia, Atlanta, Dallas and Chicago may remain stagnant.

Copyright Press Association 2010

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