2021 sees record sales of commercial real estate
2021 was a record year for commercial real estate sales in the U.S., as investors scrambled to capitalize on how the pandemic is reshaping the economy.
Driving the news: Commercial property sales totaled $809 billion in 2021, nearly doubling 2020’s mark and topping 2019’s $600 billion, according to Real Capital Analytics data reported by the Wall Street Journal.
- Warehouses for e-commerce product fulfillment were popular.
- So were apartment buildings, made more lucrative by rising rents amid a shortage of inventory.
- Resorts and hotels geared toward tourists did well, WSJ reports.
Yes, but: Office buildings remain in a slump as many Americans continue to work remotely.