Occupancies are unlikely to rise much higher than their current high level. And property prices are already so high they are unlikely to increase much more relative to incomes.
“Value appreciation has practically stopped in aggregate,” said Joi Mar, senior analyst at Green Street, in a webinar on Wednesday.
A Chicago-based private equity real estate firm is offering as much as $2 billion to purchase office buildings, health-care facilities and transit-related properties from the government.
For store sales that have occurred since the auctions began, the prices have ranged anywhere from $10 to $500 per sq. ft., an industry source says.