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2022 Q3 Market Report

• Commercial sales activity decelerated in Q3, but is still on pace for record transactions and dollar volume for the year.

• Rising interest rates, along with other economic factors, are complicating underwriting and increasing pricing friction in the sales market.

• As office tenants grapple with remote work, inventory has been expanding, met by modest demand and leasing activity. Gross absorption is down 36% compared to the 5-year average.

• Retail leasing has kept pace with recent historical levels, and average rents have seen a modest increase.

• Strong industrial leasing has produced YTD dollar consideration twice the prior 5-year average.




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