Covid-19 Fuels Record-Breaking Year for Property Sales
The pandemic has reshaped nearly every aspect of society, including how Americans live. That shift empowered investors to acquire massive amounts of commercial real estate last year, according to the Wall Street Journal.
Investors of all stripes "loaded up" on Sun Belt apartment buildings, lodging properties, industrial facilities and warehouses, which serve as fulfillment centers for e-commerce companies in record-breaking numbers.
On the other hand, urban office office buildings and brick-and-mortar stores in San Francisco, New York and other coastal markets fell out of favor with investors amidst concerns that the work-from-home (WFH) trend will never go away.
Green Street's Commercial Property Price Index confirms that the pandemic created unprecedented new opportunities for commercial real estate investors as the all-property index skyrocketed 24% in 2021.