Jan. 4, 2011 - The total sales volume of core commercial property in the United States topped $100 billion in 2010, Real Capital Analytics Managing Director Dan Fasulo said Saturday on the “Commercial Real Estate Show.”
That’s double the level in 2009 and means the investment market has returned to 2003 levels.
Fasulo broke the year-end news on the “Commercial Real Estate Show,” the radio show hosted by Michael Bull on Biz 1190 WAFS in Atlanta. The nationally focused program also is available at the show’s website.
“We are well on our way back to recovery mode in the investment market,” said Fasulo. He added that volume picked up each quarter during 2010, with roughly $35 billion in the fourth quarter. (In December, The Irvine Co. paid $625 million for Hyatt Center, a 1.5 million-square-foot office tower in Chicago.)
He also said the recovery has been more widespread than pundits expected. Office and multi-family were the strongest sectors, but there was also $15 billion in activity in the hotel sector. “Many pundits thought hotels would be the last sector to see any activity,” he told Bull during the program.
Real Capital Analytics is a global research and consulting firm with offices in New York; San Jose, Calif.; The Hague and London. Started in 2000, the firm's proprietary research is focused exclusively on the investment market for commercial real estate.
The Next “Commercial Real Estate Show” will air Jan. 8 and focus on the multi-family investment market.
The data provider for the show will be Greg Willet, vice president of research and analysis at MPF Research. Guests will include Jerry Wilkinson, chairman elect of the National Apartment Association; Philip Tague, executive vice president at AMLI; Buddy Patrick, executive officer at the Atlanta Apartment Association; and Ernie Eden, senior vice president of the Apartment Group at Bull Realty Inc. Listeners worldwide can tune in at www.CREshow.com or in Atlanta on air at biz1190 WAFS.
Each show starts with a breaking commercial real estate market update by well-known national providers. The show host and a panel of industry expert guests then share information, insight and case studies related to each shows main topic. The show is hosted by 30-year commercial real estate veteran Michael Bull, CCIM. Michael is the president and founder of commercial brokerage firm Bull Realty.
(Wilbert News Strategies is distributing this news on behalf of The Commercial Real Estate Show, a client.)