In 2013 we will see our nation’s commercial real estate recovery advance even further. According to research conducted in the Emerging Trends in Real Estate 2013 report by Urban Land Institute(ULI) and PricewaterhouseCoopers (PwC), “the economy should generate enough momentum to push greater leasing activity and increase occupancies. Industrial properties and hotels will show the biggest improvements next year. Also on the solid project radar are downtown office spaces in gateway markets.” [source]
Which market was crowned the top to watch? San Francisco received the high honors with it’s highly driven growth and strong job opportunities. Second to watch is New York City with 20% of jobs growing in education and health care sectors. San Jose grabs the bronze by being the home to Silicon Valley containing over 6,000 technology companies.
To read the full press release from PricewaterhouseCoopers, click here.