{"id":1004211054,"date":"2018-03-22T04:58:16","date_gmt":"2018-03-22T12:58:16","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004211054"},"modified":"2022-12-09T00:28:08","modified_gmt":"2022-12-09T08:28:08","slug":"3-us-cities-to-watch-in-2018","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/3-us-cities-to-watch-in-2018\/","title":{"rendered":"3 US Cities to Watch in 2018"},"content":{"rendered":"<p>By Scott Baltic<\/p>\n<div id=\"attachment_1004211061\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/Melissa-Reagen.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004211061\" data-attachment-id=\"1004211061\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/3-us-cities-to-watch-in-2018\/melissa-reagen\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/Melissa-Reagen.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Melissa Reagen\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Melissa Reagen&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/Melissa-Reagen.jpg?w=800\" class=\"wp-image-1004211061 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/Melissa-Reagen.jpg\" alt=\"Melissa Reagen\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/Melissa-Reagen.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/Melissa-Reagen.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/Melissa-Reagen.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004211061\" class=\"wp-caption-text\">Melissa Reagen,\u00a0managing director &amp;\u00a0head of research for the Americas<\/p><\/div>\n<p>As 2018 appears to be heading into positive performance for commercial real estate, the three U.S. cities to watch, according to a new report from TH Real Estate for the first quarter of this year, are Los Angeles, Chicago and New York.\u00a0The reasons why, perhaps unsurprisingly, are largely similar for all three cities, forming an implicit blueprint for a world-class metro in the early 21st century.\u00a0The report,\u00a0<em>\u201cTHINK US Cities: Trends and Tactics,\u201d<\/em> was written by Melissa Reagen, TH Real Estate\u2019s managing director &amp; <a href=\"https:\/\/www.commercialsearch.com\/news\/th-real-estate-taps-new-head-of-research\/\">head of research for the Americas<\/a>.<\/p>\n<p>Each city is, of course, very large both demographically and geographically, and each benefits from a workforce that\u2019s rich in college graduates and Millennials. The three have in common vibrant tech sectors, major universities, substantial tourism, prominent cultural attractions and strong transportation connections to the rest of the country.<\/p>\n<p>It comes as no surprise that Los Angeles led the nation in CRE transactions last year, at more than $28 billion, followed by New York and Chicago, with $23 and $17 billion, respectively.\u00a0<\/p>\n<h2>Nationwide take-home points<\/h2>\n<p>Nationally, CRE conditions are \u201c<em>tempering somewhat<\/em>,\u201d the report says, but they remain solid, despite recent stock market volatility. That upheaval happened in part because of a divergence between a Fed that has been hiking rates to head off inflation, even as Congress passed a stimulus measure in the form of the tax bill.<\/p>\n<p>Among trends to watch are co-working spaces and the rise of the contingent workforce, which is predicted to increase by another nearly 25 million workers and to comprise a majority of the U.S. workforce by 2027.<\/p>\n<p>As to the sharing economy, the report points to surging companies such as Uber, which owns no cars; Airbnb, which owns no houses\u2014and in particular WeWork, which doesn\u2019t own its own real estate. Office building owners are thus forced to invest more capital in their properties, pulling down returns.<\/p>\n<p>In January, TH Real Estate released a report that identifies eight possible <a href=\"https:\/\/www.commercialsearch.com\/news\/investment-predictions-for-2018-th-report\/\">real estate trends<\/a> which may guide investors this year.<\/p>\n<p><em>Image courtesy of\u00a0TH Real Estate<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A new TH Real Estate study draws clear commercial real estate patterns in top metros and looks at leading trends nationwide.<\/p>\n","protected":false},"author":882,"featured_media":1004211061,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,23891,21742],"tags":[39360,39354,32870],"class_list":["post-1004211054","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-national","category-latest","tag-melissa-reagen","tag-millenials","tag-th-real-estate"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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He started writing about CRE in 1988 for a group of Chicago-based publications and in 1989 became the editor of Midwest Real Estate News. After moving on from there in 1991, Baltic continued writing occasionally about real estate, for publications like the Chicago Sun-Times, National Real Estate Investor, Urban Land, Shopping Center World and Architect\u2019s Newspaper. 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