Grubb & Ellis Company GBE +0.80% , a leading real estate services and investment firm, today released its 2012 National Real Estate Forecast, which predicts a year of slow but continued growth for all commercial real estate property sectors.
"Although a variety of economic and political factors, including continued high unemployment, an upcoming U.S. presidential election and the unresolved European sovereign debt crisis weigh on the minds of real estate owners, users and investors, we anticipate gradual improvement in leasing markets and a boost in investment sales volume," said Robert Bach, senior vice president, chief economist. "This is based on an assumption of GDP growth in the range of 2.0 to 2.5 percent in 2012, still below the economy's long-term potential of around 3 percent, and an average of 125,000 net new payroll jobs per month."
Specifically, Grubb & Ellis expects property sectors to continue to move ahead in the following sequence, from best-performing to worst-performing: multi housing, hospitality, industrial, retail and office.
Read more...Grubb & Ellis Predicts Continued Sluggish Recovery in 2012 - MarketWatch
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