Research Center
Development
The percentage of industrial under construction decreased by 7 percent, followed by the decrease of 5.2 percent for retail construction, compared to March 2017.
Industrial Demand
The most significant changes included Transportation Equipment up 8.5 percent, followed closely by Primary Metals and Fabricated Metal Products, with an increase of 7.8 percent.
REITs
The Health Care REIT sector traded at the largest median premium to NAV, at 13.10 percent. Manufactured Home and the other Retail REIT sectors followed next trading at median premiums to NAV of 10.19 and 7.92 percent, respectively.
Top 5 Retail Space and Office Building Sales
PropertyShark compiled the top 5 sales in office and retail for April 2017 in New York City.
Investment
The industrial sector had the smallest price per square foot, at $81,000, but increased by 4 percent over the first quarter of 2016.
Employment Picture
Year-over-year, the largest difference for employment was once again in the Farming, Fishing and Forestry occupations, with a rise of 10 percent.
National Vacancies
Vacancy rates for office markets are expected to decrease by 2.7 percent in the Midwest and remain almost the same as in the first quarter of this year for the other regions.
CMBS Delinquencies
Retail properties had the largest decline, at $932 million, while office decreased by $805 million.
Investment Off to Slow Start in 2017
Following a strong $133.8 billion in transaction volume in the fourth quarter of 2016, investment activity tapered off in the first quarter of this year, hitting $93.6 billion as of March 31, according to Real Capital Analytics data.