The Big Deals That Made 2013
We caught up with Avison Young CEO Mark Rose, fresh off the plane from a client event in NYC (we hang out at airports), and asked him about the big, noteworthy trends that came out of commercial real estate in 2013.
One of the biggies, according to Mark was Canada's stability and the relative US weakness driven by government in-fighting, higher taxes, Obamacare, and debt ceilings. (They seem to have forgotten what handshakes are.) "Retail is changing rapidly as Amazon and online companies force logistical and supply chain management change," he says. Higher debt costs—which will change underwriting in 2014—is another one, as was the "significant" total of $9B in Canadian investment into US real estate in 2013. "That should continue," Mark says.