2024 South Region broker sentiment survey
Avison Young Brokers in the South region are closely monitoring the commercial real estate market, economy and ongoing recovery. We’ve conducted a survey among our internal brokerage team, yielding some intriguing insights and sentiments regarding various market-related topics.
Market Predictions
When do you expect the Fed to cut interest rates?
How much do you expect the Fed to cut interest rates in the next 12 months? (2H24 – 1H25)
Do you expect the 2024 presidential election results to drastically impact the future of CRE in your markets?
Current market conditions
Office fundamentals
Industrial fundamentals
Retail fundamentals
This survey went out to over 140 Avison Young brokers across the South region that cover office, industrial and retail sectors.
Explore how tenants and owners are navigating the office environment during this economic downturn, and what our brokers expect the future office market to look like based on supply and demand trends, leasing concessions, and return-to-office efforts.
When do you expect your market’s office vacancy rate to stabilize?
What are the most important concessions right now?
What amenities are most important to tenants?
For your tenants, how important is building proximity (5-min walk) to vibrant retail offerings when deciding on office location?
Do you think 5-days per week in the office will ever be normalized again?
What percentage of your clients have a return to office policy of:
Industrial predictions
Take a look at our brokers’ insights on the changes occurring within the industrial market, including tenant demand, construction costs, and rent growth.
What do you expect industrial rental rate growth to look like over the next 12-24 months?
How active is industrial tenant activity in your market?
When do you expect construction costs to recede / normalize?
What size industrial tenants are most active in your market currently?
What are the main challenges to industrial real estate development in your area?
What impact do technological advancements (e.g., AI, automation) have on industrial space requirements in your market?
As consumer activity continues to increase, our brokers predict what goods they think consumers will spend the most on, which center types will see the bulk of this activity and the impact that activity will have on rental rate growth.
How is retail visitation in your market?
What do you expect retail rental rate growth to look like over the next 12-24 months?
What are your expectations for consumer spending based on business sectors for the 2H of 2024?
What center types are most active in your market currently?
What is your outlook on consumer spending for the 2H of 2024?
Authors
Sara Barnes
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- Manager, Market Intelligence – Southeast Region
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- Industrial
- Research
- Retail
- Office
