The Super Bowl decides the American football champion team. Only the winner can hold aloft that coveted trophy. Only the winning team’s members can wear those prized championship rings.
However, all property types have emerged as winners in 2014, making it extremely hard to crown a champion! The office sector’s performance was the best since 2007 as absorption levels reflected strong hiring trends. The rise of ecommerce and healthy retail spending in general has boosted the fortunes of the industrial sector rather rapidly. And, apartments continue to shine as demand held steady and rents increased even in the face of a supply onslaught.
Rising business and consumer confidence was also reflected in increased travel activity and in the sterling performance by the hotel sector. Retail is also playing catch up with the other sectors and experiencing vacancy declines. Despite significant fumbles/tackles/sacks/interceptions, all property sectors turned in a spectacular performance worthy of a shiny trophy and a trip to Disneyland (minus the measles!).
Source : CBRE Global Investors