I could not agree more. The 2014 and 2015 local real estate market and transactions could be described as a “a frenzy”. There was a vast increase of transactions – at higher prices than we have seen since before 2007! The frenzy in large part was due to pent-up demand. Many users of commercial real estate could not remain at the same space and employment levels and still meet the increasing product and services demands. Also, due to the frenzy, quality industrial and office building were snatched up quickly leaving very few desirable properties in the area to lease or purchase. The 1st and 2nd quarters of 2016 remained active and appears to have plateaued.
“The Outlook for 2016” (Second Half) Barring any unforeseen shocks, the forecast for the remainder of 2016 is for the economy to remain on its same steady pace of growth.
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