Commercial Real Estate Cycles for Q1 2014

Just released are the Q1 2014 results of Dr. Glenn Mueller’s Commercial Real Estate Cycles. Dr. Mueller is a professor for the Burns School of Real Estate and Construction Management at Denver University. He is also the real estate investment strategist at Dividend Capital Group, where he provides real estate market-cycle research and investment strategy for Dividend Capital’s Real Estate Securities.

Each quarter Dr. Mueller analyzes apartments, hotels, industrial, office and retail properties in more than 50 Metropolitan Statistical Areas (MSAs) across the U.S. He defines four distinct phases. First is Recovery (declining vacancy, no new construction), then Expansion (declining vacancy, new construction), followed by Hypersupply (increasing vacancy, new construction), and finally Recession (increasing vacancy, more completions).

Dr. Mueller’s latest findings from the 50+ markets covered are summarized in the following table. Industrial is leading the group, with greatest increase in occupancy rates in Q1 and also the most increase in rental rates, up 5.1 percent in the past 12 months.

5-30-14 table

To download a copy of the current report click

To obtain past issues of the quarterly cycles from Dividend Capital email them at

Dividend Capital has several Real Estate Investment Trusts (REITS) and specializes in real estate investments. To learn more about Dividend Capital click


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