What U.S. Cities Could be Top Office-performers Coming out of Covid — and where Phoenix fits in

Article originally posted on Phoenix Business Journal on July 2, 2021

Commercial real estate advisory firm Newmark Group Inc. recently released a report examining challenges and opportunities resulting from the Covid-19 pandemic in nearly two dozen cities across the U.S.

The report, called The Newmark Opportunity Index, studied 22 cities in the U.S., where Newmark had the most consistent and highest quality data available. The research examined economic and commercial real estate property type metrics, including for office, industrial, multifamily, hospitality and retail.

Phoenix, which ranked 19th across all office metrics, suffered in the rankings in part because of how slowly the economy recovered from the Great Recession, rather than the market’s relatively strong performance during the Covid-19 pandemic.

“Phoenix was one of the last markets to see office and industrial pricing recovery after the Great Recession, contributing to its relatively lower ranking across these property types,” Bethany Schneider, director of research in Newmark’s Washington, D.C., office and author of the report, wrote.

Find the Complete Article Here: https://www.bizjournals.com/phoenix/news/2021/07/01/newmark-opportunity-index-2021.html?cx_testId=40&cx_testVariant=cx_9&cx_artPos=7#cxrecs_s

Commercial real estate advisory firm Newmark Group Inc. recently released a report examining challenges and opportunities resulting from the Covid-19 pandemic in nearly two dozen cities across the U.S.

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