Coronavirus Will Accelerate Trends in Commercial Real Estate, Says NAIOP

NAIOP, the Commercial Real Estate Development Association, is predicting that the coronavirus outbreak will accelerate trends that had been forming in commercial real estate and cause dramatic changes in the industry faster than had been anticipated. The crisis will result in some short-term contractions in the industry, but will lead to a long-term expansion for commercial real estate generally, particularly in the industrial and warehouse sector. During a special webinar last week Dr. Timothy Savage of New York University, and a research economist for NAIOP, updated his outlook on demand for industrial, office and retail commercial real estate in light the coronavirus.

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