While the sector faces some unique challenges, including a shortage of power and competition for owners from their own tenants, its performance continues to be solid.
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Rising labor and materials costs coupled with more expensive debt due to rising interest rates are combining to cut into yields on multifamily development projects.
The Center for Exhibition Industry Research’s CEIR Total Index, a measure of convention business activity, was in the second quarter about 25.5 percent below 2019 levels, according to a forthcoming report shared with Bloomberg. In the first quarter, it was 37.9 percent below pre-pandemic levels.
The Los Angeles Times profiles some recent office-to-apartment conversions. A railroad workers strike would bring major disruption to the U.S. supply chain, according to a Chain Store Age interview with an industry expert. These are among today’s must reads from around the commercial real estate industry.