2H 2021 INVESTOR SENTIMENT SURVEY RESULTS

3Q 2021 CRE performance data was just finalized and some of the results are shocking
Lifted lockdowns, strong consumption and new household formation drove aggressive space demand
Despite uncertainty regarding return-to-office timelines, 26M SQFT of net new Office space was absorbed in the 3Q – Not earth shattering, but a very strong step in the right direction
Similarly, Retailers saw a bounce back in leasing activity, vacancy rates improved, and rents rose 2.5% YOY – Many expected Retail to falter, but the sector is holding up well
Apartments posted the strongest quarterly results on record – Vacancy fell to an all-time low and more net new units were rented in the first 3 quarters of 2021 than any FULL year on record
Industrial performance continues to meet the already high expectations for the sector
- - eCommerce and “just-in-case” inventories drove record absorption and vacancy results
Overall, the strong 3Q results will likely bolster investor optimism moving forward