Dive Brief:
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Senior executives from a number of large commercial real estate firms have told investors that demand for property—from tenants, landlords, buyers and sellers—is reaching pre-recession levels and will continue to grow, according to commercial real estate information company CoStar.
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Execs from CBRE Group, JLL, and FirstService Corp. pointed to strong year-end earnings, positive margins, and “vigorous” activity in capital markets, CoStar reported.
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“It now feels more like 2005," JLL President and CEO Colin Dyer said.
Dive Insight:
The growing momentum is reaching beyond North America, the executives said. "Money is still coming, both equity and debt, into the investment sales markets globally," Dyer noted. JLL CFO Christie Kelly added: "So this, together with prospects on global growth, population growth with capital flows that are projected to still move into real estate, we think bodes well for the major real estate markets around the world."