Buyers set a file for U.S. commercial-property gross sales final 12 months, betting that the pandemic is reordering how Individuals reside, work and play.
Actual-estate patrons loaded up on warehouses, which function success facilities for the e-commerce growth. They purchased residence buildings to capitalize on file excessive rents. They paid up for resorts and vacation-oriented accommodations that benefited from the resurgence in journey to leisure locations.
“Did the pandemic speed up these developments?” requested Spencer Levy, senior financial adviser at real-estate agency
CBRE Group Inc.
“You wager it did.”
Total, commercial-property gross sales totaled a file $809 billion in 2021,