Pryor Cashman Partner Bradley Kaufman, a member of the Real Estate Group and co-chair of the Leasing Practice, contributed to an article for Thomson Reuters Practical Law.

In “Commercial Real Estate – Trends and Predictions (2024),” Brad and his co-contributors provide an outlook for the rest of the year that “is improving, and many market participants remain optimistic, predicting increased deal flow by the second half of the year.”

Brad says of the market forecast:

Expectations are not high. While my clients are somewhat optimistic about decreased inflation, perhaps unrealistically so, they are more concerned with ever-increasing crime in so-called “central business districts” in major cities, particularly those on the West Coast, New York City, and Washington, DC.

He also sees positive trends in the office leasing space:

Some office clients are actually expanding due more to organic growth than to a return to office. I have also seen a lessening in the taking or keeping of so-called flex space or the warehousing of space for future needs.

Read the full article using the link below (subscription may be required).