WASHINGTON, DC — The Society of Industrial and Office Realtors (SIOR) recently published the First Quarter 2018 SIOR Commercial Real Estate Index, compiling results of the U.S.-based member-wide survey. Boasting upon broad economic activity, the index rose to its highest value since its creation in 2005. With gains in business investments, consumer spending, exports, and government spending, results of the CRE Index detailed many positive findings.
“The gains in every aspect are a great sign of what is to come this year,” said Del Markward, SIOR Global president. “With many SIORs feeling confident about their markets moving forward, and having the highest index in over 12 years, everyone is eager to see where we’ll be next quarter—and we are enthusiastic about the delivery for our clients.”
With a value of 100 on the index indicating a balanced market, the national index closed the first quarter of 2018 at an all-time high of 134, creating a positive expectation for the remainder of 2018. SIOR members experienced gain in fundamentals such as leasing activity, rent stabilization, new construction of office and industrial spaces, and development conditions shifting in favor of sellers. The addition of more than 230,000 new jobs in health care and business services posed the market for an upswing.