Commercial Real Estate Experts More Pessimistic
Tuesday, June 18, 2013
Minnesota’s commercial real estate experts are displaying “lingering concerns” about where the industry in the Twin Cities is headed, according to a study released Tuesday by the University of St. Thomas Opus College of Business, published in Twin Cities Business magazine
The semiannual Minnesota Commercial Real Estate Survey is based on responses from 50 industry leaders. They are asked questions about their expectations for future vacancy and rental rates, development costs, and new project financing in the next two years. The results are based on an index of zero to 100—with values greater than 50 indicating “optimistic;” at 50 meaning “neutral;” and below 50 representing “pessimistic.”
Overall the survey revealed a composite score of 47. This is only the second time a score has been measured below 50 since the survey originated in 2010; the first was last November when it was 48.
Originally published: 06/18/2013, Twin Cities Business