This week, we are taking a look at the annual report released by PwC and the Urban Land Institute to see what leaders in the commercial real estate industry are observing. The document covers all areas of real estate with information gathered from experts worldwide. It specifically focuses on trends that are affecting larger markets such as New York City and Los Angeles. While the following trends may already be widespread in those areas, they typically take longer to reach smaller markets like Huntsville.
To say that 2020 was an interesting year would be an understatement. No matter what industry you were in, you felt the effects of government-mandated lockdowns, supply chain disruption, and changes in person-to-person interaction protocol. Without a doubt, the commercial real estate (CRE) industry was no exception with retail, hospitality, and office being the hardest hit. However, not all was doom and gloom as there were some bright spots in CRE lead by industrial, warehouse, and multi-family housing. Let us discuss these sectors and what we may expect going forward.