Industrial, Data Centers Strongest Sectors in CBRE’s 2021 Forecast
The office sector is expected to lag the overall U.S. economic recovery by several quarters.
November 13, 2020 | Gail Kalinoski | Commercial Property Executive
CBRE’s 2021 U.S. Real Estate Outlook offers a mixed forecast for commercial real estate. Industrial and data centers will continue to be among commercial real estate’s more robust sectors next year, as other markets like office, retail and hotels will have slower recoveries.
The report states all sectors will benefit from the widespread availability of a vaccine to help push back the pandemic that has crippled the U.S. economy.
Richard Barkham, CBRE’s global chief economist, said in a prepared statement the firm expects the commercial real estate recovery, particularly the office sector, to lag the broader economic recovery by several quarters. He noted the pandemic has added another complication to normal recoveries: getting people safely back into the workplace. He said a vaccine is essential for economic recovery along with another fiscal stimulus package from Congress.
