Olen Monsees, Steve Karbank, and Jack Allen recently attended our commercial real estate network conference with CORFAC International Real Estate Alliance in Phoenix, Arizona. The conference was attended by CORFAC brokers from about 50 major cities around the United States as well as representatives of our affiliate King Sturge, Inc. which has offices in the major cities throughout Europe. The consensus from the conference was that real estate transactions are still significantly slower than previous years. The office market continues to lag with a slight uptick seen in industrial real estate. Investment sales are very limited because of difficulty in financing and above market price levels still being asked by owners. The Kansas City market is somewhat better than the national market with office vacancies in the 16-17% range and industrial vacancies in the 7-8% range. The consensus appeared to be that all markets would tend to pick up slightly later this year and continue to improve throughout next year.
Olen Monsees
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