August 2021 Commercial Market Insights
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The commercial real estate market, particularly the office market, faces increasing headwinds from the negative impact of the surge in Delta variant cases on the economy. Manufacturing production and new orders, an early indicator of economic growth, is slowing. Businesses have pushed back office re-entry plans. Expect elevated vacancy rates in the office market but low vacancy rates in the multifamily, industrial, and retail market in the next 12 months.