Market reports and insights
Gain real estate insights that drive real impact. Our comprehensive market reports leverage the breadth of our service expertise and the deep knowledge of our people to provide you with the data-driven perspective you need to make informed decisions across your portfolio. Whether you're seeking to understand the latest office trends, identify emerging industrial opportunities, or assess the evolving capital markets, our sector-specific reports deliver the actionable intelligence that can help your business thrive. Explore our latest insights and unlock the potential of your real estate strategy.
U.S. industrial market Q2 2024 insights
The first half of 2024 showed soft leasing, but positive momentum suggesting a strong second half. Vacancy rates are expected to plateau and decrease heading into 2025. Despite concerns, indicators such as the second strongest start to a year via port activity, +$234.1B in manufacturing construction spending, and pre-leasing activity point to a market on the rise. Rental growth remains steady, with a new space gap expected in early 2025. Port labor negotiations are increasing industrial demand ahead the looming September 30 contract expiration. Significant dry-powder awaits Federal Reserve policy changes, anticipating increased deployment competition in the industrial sector.
U.S. Capital Markets Q2 2024 insights
As we reach the halfway point of 2024, the broader capital markets environment is showing signs of resilience and adaptability despite some macroeconomic uncertainties and a disconnect between buyers and sellers regarding property valuations. Debt origination has decreased by approximately 24% year over year, a substantial improvement from Q1 2024, where it was down 48%. This positive trend is expected to continue, especially with the anticipated increase in transactional activity due to pending loan maturities. Lenders have demonstrated flexibility with workouts and loan modifications, creating opportunities for future growth. Additionally, regional banks' liquidity issues are being mitigated as alternatives like CMBS gain traction among borrowers.
U.S. office market Q2 2024 insights
As of Q2 2024, the overall availability rate for U.S. office space has begun to stabilize—now at 23.7%. This figure is comprised of a 20% direct availability rate and a 3.7% sublet availability rate, and remains nearly unchanged from Q1 2024. Despite supply remaining stable, demand has seen an uptick in recent quarters. The 124.3 million square feet (msf) of leasing activity through the first half of 2024 marks a 13.2% decrease from this time last year; however, this quarter’s leasing activity at 72.1 msf shows a 38.1% increase over last quarter, shining a positive light into the second half of 2024.
H1 2024 U.S. life sciences market overview
The lab/R&D market showed signs of revitalization during the first half of 2024 despite record-high availability and stagnant occupier demand. Most notably, funding into the life sciences sector received a large boost from venture capital investment, public markets, and the U.S. government which is expected to increase leasing activity in the second half of the year and in 2025. Moreover, construction starts for lab buildings came to a near halt, allowing the market time to absorb the newer product, which accounts for most of the lab/R&D availability.
U.S. multifamily market Q1 2024 insights
Top U.S. markets have seen the multifamily inventory increase by an annual average of 3.4% since 2020. Development activity is expected to peak in 2024, with almost 500,000 new units expected to deliver across the top U.S. multifamily markets. Though overall rent growth has been minimal, absorption reached its highest level in Q1 2024 since 2021, when demand last peaked.
