Commercial Deals, Rent Relief Requests on the Rise: NAIOP

In NAIOP’s sixth monthly survey tracking the effects of the pandemic on the commercial real estate industry, respondents reported continued gradual improvement in deal activity, but also reported more tenants seeking rent relief, particularly in the office sector. 

The survey was completed by 203 NAIOP members between September 15 - 18, 2020. Respondents represent a range of professions, including developers, building owners, building managers, brokers, lenders and investors.

More respondents reported an increase in industrial, office and multifamily deals in September compared to  August, continuing a trend toward greater activity. Industrial properties are reported as attracting more deals than other property types, with an uptick in the percentage of reported acquisitions of existing buildings and buildings under construction. More respondents also reported office and multifamily building acquisitions, and both sectors experienced a slight increase in reported new development activity. Deal activity for industrial, office and multifamily properties has improved substantially since April, when nearly half of respondents reported seeing no industrial deals and two-thirds reported no office or multifamily activity.

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