The outlook has dimmed for commercial real estate, according to the Emerging Trends in Real Estate 2012 report released by PwC and the Urban Land Institute at the ULI Fall Conference in Los Angeles.
Last year, the report talked of an industry recovery playing out in an “era of less,” which presented its own challenges. But at least the theme was about the industry rebounding. This year, the report signals that the recovery may be on hold for all of 2012.
The best opportunities within commercial real estate remain in familiar places—24-hour gateway cities, markets with strong energy or tech sectors and the multifamily sector.
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Emerging Trends 2012: A Long Grind Awaits
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