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<img src = "data: image / svg + xml; utf8,"data-src =" https://cdn.nar.realtor/sites/default/files/styles/wysiwyg_small/public/2021-02-commercial-market-insights-report-cover-03-01-2021-300w- 400h.png? Itok = U5qTbquY "class =" b-lazy "width =" 280 "height =" 373 "alt =" Cover of the Commercial Market Insights report of February 2021 "title =" Cover of the Commercial Market Insights report of February 2021 "/ >
After sales rose in December in part due to the rush to close deals at the end of the year, commercial acquisitions slumped again in January 2021, with sales volume declining 58% year over year. Acquisitions declined in all property classes: retail (-73%), hotel (-73%), office (-69%) and industrial (-57%).
In a very dry market, acquisitions are being made on a few select properties, as indicated by the higher average price per square foot for completed transactions compared to prices a year ago.
Secondary / tertiary cities like Dallas, Atlanta, Phoenix, Memphis, Charlotte Austin, Las Vegas, Minneapolis, and Tampa are some of the markets where most of the acquisitions are made.