Larken Associates has completed a lease that will bring a pet grooming salon to a two-building, 30,000-square-foot shopping center in Warren County.
No summer slowdown for CRE, but a time to reflect, recharge and reset before a busy fall
While there is a sense of uncertainty in the market due to rising interest rates and the fear of a possible recession on the horizon, we have not seen a slowdown in deal activity; however, for the first time in years, it does appear that clients and others in the industry are taking a minute to breathe to get a better sense of necessary market adjustments. Since the onset of COVID, we have not had a normal summer in that the last two years have been nonstop deal flow year-round. This year, for the first time in a long time, we are seeing clients take a week or two to go on vacation and enjoy time with family. This is completely normal, and quite frankly, much needed.
CRE outlook and economic drivers in this post-pandemic world
“Even before the pandemic hit in 2020, the global economy was already in a precarious place,” according to global economist Dambisa Moyo, Ph.D., at NAIOP’s recent I.CON East event in Jersey City. Many of the largest developed and developing countries were already experiencing low, slow or even no growth. In this sense, the COVID-19 crisis served as a catalyst, accelerating threats to the global economy. Moreover, several headwinds are exacerbating these challenges.
