The volume of all commercial sales is off 8 percent year-over-year with transactions totaling $36.5 billion, according to a new report from Real Capital Analytics (RCA). Yet prices are up 7.2 percent overall despite a slowing in price growth.
The industrial sector posted the strongest growth at 11.8 percent, with the retail sector lagged all others with just 3.1 percent gains year-over-year, although this growth was actually the strongest in years for retail properties.
REITs continue to pour investment dollars into some markets. For example, Greystar is betting on Austin, Texas, BREIT is banking on Minneapolis, and Goldman Sachs is following a wave of newcomers to the Boise area.
The RCA report also shows that 94 commercial deals were done year-to-date in the Salt Lake City MSA totaling more than $1.1 billion in capital investment. And the West continues to outpace all other regions in total dollars invested.