Retail Properties Lead Asset Value Growth
The retail sector is driving the bus when it comes to asset appreciation in the Lower Mainland, according to a RealNet Canada study. The study focused on commercial real estate bought after 1999 and sold as of mid 2013. (Also known to some as the worst period in music history.) RealNet studied 337 properties sold between July 1, 2012 and June 30, 2013; retail returned a market-leading 28.5% through asset appreciation, a gain of $70M. "While the overall market has produced compound annual growth rates of 7.7%, the highest level of growth was again delivered by retail assets in the $3M to $10M mid market," says RealNet president George Carras (left, with other speakers at a ULI real estate forecast event).