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Coldwell Banker Commercial CEO Billie Redmond on the outlook for the commercial real estate market.
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Mason survives the commercial real estate market is building momentum -- vacancy rates decline across the country thinks are actually looking a little better so.
What types of commercial real estate could bring the best returns our next guest says she's very bullish on some areas of commercial real estate.
But how bullish she gets on the entire sector depends on job creation in the US Coldwell Banker commercial trademark property CEO Billy Redmond.
Joins us now from Raleigh, North Carolina and it's looking better -- -- -- They -- we -- seeing improvement across almost every sector.
Which sectors are really showing if you were to pull commercial real estate apart.
Whether it's a parliamentary you know you're looking at say for example industrials or what ever -- sub sector of commercial real estate looks healthiest.
But in the investment.
Real estate market what we're seeing.
By far best -- multifamily.
And that's and an easy thing to understand giving the slide in residential sales previous homeowners and what you -- virus became renters instead for the last several years.
So we've seen occupancy rates go almost a 100% in many.
Healthy markets -- seeing them 95%.
That's good for the landlords puts little pressure -- rants news there ramps up some but it's also sponsored new demand for new construction.
Remember that the real estate and construction industry lost -- most jobs in the recession so we can -- We're excited about housing starts multifamily construction we're seeing some the other sectors of real estate beginning to build some new development.
-- the most challenged -- still office obviously very much tied to employment.
-- we've seen office and -- industrial still be challenged around him hatred and occupancy ratios you're part of the job creators alliance and you also being in commercial real estate have storefronts that probably.
Leave small businesses what is the health of the small business person that you speak to on a daily basis.
Well thank you for asking that question I think is the most important thing -- you really want to focus.
On the issues and solutions available to our country it all begins and ends with employment.
We can put people to work it raises the revenues of the government.
It raises people's individual choices about how they spend their money how they live where they live what they do remember we have -- GDP.
It's -- based on 70% of consumers spend so disposable income becomes critical obviously.
When you looked at job growth since 1980.
The Kauffman Foundation to study from 1980 to 2000 -- all net new jobs came from businesses with that were less than fat years old.
He speaks to America's entrepreneurial -- in -- talent.
Of course and then of course let me tell -- because we're running out of time Billy but a quick sort of what every viewer might be thinking about whether its Fort Lee New Jersey -- Aspin's downtown in Colorado there are empty storefronts still.
Where do you see the strongest activity.
We still see it in the healthiest markets that have the right attributes and demographics have got growth.
They've got employment stability.
It's all about employment if you want the community did do well on their markets to do well it all still comes back to.
Help the employment Coldwell Banker commercial CEO Billy -- and thank you for joining us.
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