2011 Commercial Real Estate Sales Volumes Up Significantly
Posted by Ted C. Jones on February 7, 2012
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CoStar, a premier provider of commercial real estate information, has just released 2011 commercial real estate sales volumes.
Sales of commercial real estate rose 32 percent in 2011 to $291.6 billion—up 32 percent from 2010. The 12-year average commercial real estate sales volume was $254.2 billion with an unsustainable peak of $560.5 billion in 2007.
• Office sales tallied just less than $74 billion—a gain of 39 percent vs. 2010
• Multifamily volume hit $62.1 billion in 2011—up 46 percent from 2010
• Retail sales totaled $58.7 billion—a jump of 43 percent from 2010
• Industrial sales rose to $35.9 billion—a rise of 8 percent from 2010
• Hospitality properties summed $20.9 billion—a year-over-year gain of 32 percent
• Land sales declined 14 percent from 2010 and were $19.6 billion in 2011
• Healthcare real estate and all other type properties gained 76 percent to $20.5 billion and almost reached the 2007 all-time-record
Obviously there is lending available today—and that is good news for the commercial real estate segment.
