Commercial real estate investors set to lower expectations

Investors say they have to adjust to commercial real estate marketplace realities to move forward.In a sign that may indicate investors have run out of patience with the pace of recovery in the commercial real estate industry, a new analysis suggests they are ready to take on a revised mindset as far as expectations concerned.According to an annual report produced by the Real Estate Research Corporation, many national real estate investors appear resigned to the fact that in order for them to make any headway, they may have to adjust to what can only be described as a new reality.”It is time to stop waiting for the economy and the investment environment to get better,” said Kenneth Riggs, chairman and president of RERC. “This is it – this is the new normal – and we need to turn the page on the past and make the adjustments needed to be successful for the balance of this decade.”Matthew Kimmel, principal leader for Deloitte Financial, noted that while improvements should continue, they will likely be very slow and register moderate gains to the industry as a whole.At a hyper local level, the commercial sector is thriving, particularly in the Houston real estate sector. The Houston Association of Realtors recently reported that the region’s strong growth and commercial construction activity in last year’s fourth quarter had a positive impact on leasing activity and new project developments for 2013 and beyond.
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