CHICAGO – Commercial real estate markets across Canada experienced moderate-to-strong recovery in 2010, and some markets performed better than expected. In the U.S., select markets improved while broad recovery remained elusive. Historically, Canadian markets tended to lag U.S. recovery by a year. But in 2001 and again in 2010, Canada led the U.S. in terms of recovery and the patterns of recovery followed the same trajectory.
These are some of the key trends noted in Avison Young’s 2011 Forecast, released today. The annual report covers the Office, Retail, Industrial and Investment markets in 17 regions: Chicago, Washington DC, Atlanta, Houston, Boston, Vancouver, Calgary, Edmonton, Lethbridge, Regina, Winnipeg, Mississauga, Toronto, Ottawa, Montreal, Quebec City and Halifax.
“The Canadian picture remains positive. But the bottom line is this: without improved confidence and growth in employment, consumer spending, industrial production and gross domestic product (GDP), the North American commercial real estate market as a whole will have a difficult time recovering,” comments Mark E. Rose, Chair and CEO of Avison Young.
Read on for Summary or download the report here.
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